mortgages: Get your financing in order! - 06/25/11 09:43 AM
A recent blog by David Burrows talked about "A Doctor's Advice For Purchasing a Home."  It was an excellent, well-wriiten posting, and inspired this blog of mine. Getting your financing in order is the first order of business for home buyers today.  Here's why.
Back in the heyday of the real estate boom years, credit was easy to obtain.  With rapidly appreciating real estate, even over-extended borrowers were likely to cover their mortgage balance and even make a tidy proft when they sold their homes.  Underwriting scrutiny was not very intensive, and the money was flowing freely.  Then the bubble burst, and … (2 comments)

mortgages: Home loan Interest rates are on the rise - 04/08/10 09:44 AM
Home loan interest rates are on the rise.  Rates that had hovered around 5% for the last 9 months are now at least a quarter point higher, and likely to continue to rise.  This development is hardly a surprise:  the Fed announced late last year that they would cease buying Mortgage Backed Securities at the end of March, 2010.  By purchasing mortgage backed securities, the Fed was keeping interest rates artificially low to stimulate the housing market.  But all good things must end eventually, and it appears that the days of the 5% mortgage loan are history, at least for the … (2 comments)

 
Chuck Gollay (Exit Realty Paramount) Rainmaker_large

Chuck Gollay

Traverse City, MI

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Exit Realty Paramount

Address: 803 W Front St., Traverse City, MI, 49684

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