rate: If I had a little more confidence in my preditiction Tuesday, I would have looked like a genius yesterday - also, major FHA changes coming? - 06/11/10 12:44 PM
Daily Rate Update for Friday, June 11th from Province Mortgage Associates
Part of my job is to send a daily email to the staff at my company detailing the condition of the mortgage market, and whether our originators should be locking rates, or if it is safe to float to another day. I've been doing this for two months now, and from what I've heard around the office, the results have been great. We're having more success in improving profitability, while at the same time delivering better rates to our borrowers.
On Tuesday, I closed my message, saying,
"In spite of … (0 comments)

rate: My New Responsibility at Province Mortgage - Tracking Interest Rates - 04/30/10 12:58 PM
Over the 5 years I've been a member of the team at Province Mortgage Associates, the company has grown considerably. We started with 9 loan officers, and 3 support staff, and have more than doubled in that time.
As of the beginning of April, I've taken on a new responsibility at Province emailing my colleagues a daily interpretation of relevant financial and economic news, along with rate advice. I thought I'd post today's update as a sample of this work, to give you an idea of what I've been doing lately:

A slow day today after slightly lower than expected … (0 comments)

rate: 2010 Conventional Loan Limits for Rhode Island - 01/12/10 10:52 AM
2010 Conventional Loan Limits for Rhode Island
For 2010, conventional loan limits for Rhode Island have remained at the same level where they stood in 2009, according the Federal Housing Finance Agency, the group that oversees mortgage investment giants Fannie Mae and Freddie Mac. These limits define the maximum loan amount for loans that may be sold to the agencies, which is an important distinction, as the secondary market for loans meeting these requirements is much more active than the secondary market for larger loans, meaning that loans that conform to these size requirements carry much lower interest rates.
For … (0 comments)

rate: Mortgage - Treasury Spread Closes as Homebuyer Incentives Suggest Home Prices May Stabilize - 03/12/09 04:03 PM
February was a significant month for the mortgage and real estate markets, as a massive bailout package was signed into law, and further talk of foreclosure prevention efforts at the federal level reassured mortgage investors of the safety of their investments. An $8000 tax credit for first-time homebuyers sparked hope for increased home sales in 2009, both for starter homes and condominiums, as well as for so called "move-up" homes needed by those current homeowners able to sell into the current market and purchase significantly discounted replacement homes.
Entering March, the Mortgage - Treasury spread reached its lowest point since June, … (1 comments)

rate: It's the Innuendo, Not the Actions - 06/25/08 07:16 AM
The Federal Reserve Open Market Committee will adjourn its first meeting of the Summer today, and is expected to make an announcement at 2:15 PM regarding its decision to raise or lower interest rates.  At this point, virtually no one in the investing world expects the Fed to make any changes to policy at this point; rather Wall St. will be listening very closely to the specific wording used by the FOMC in today's brief announcement. 
You might be asking, though, if the Fed is leaving things as they are, why should this affect other interest rates, especially mortgage rates? 
In … (5 comments)

rate: US Senate to Vote on Foreclosure Rescue Plan Today - 06/24/08 10:52 AM
I've been hearing rumors of this plan for a while.  A similar bill passed the House of Representatives in May, and was expected to get to the Senate fairly quickly.  I guess 7 weeks is fairly quick in Washington.
What is it?
We've seen a number of plans recently to help homeowners get out of trouble with problem mortgages, but so far they have met with limited success.  The first such program was the FHA Secure mortgage, which allowed homeowners who had gotten into credit difficulties because of adjustable rate mortgages to refinance.  While this program was originally expected to help … (5 comments)

rate: 13 Important Details to Know About Your Mortgage - 01/17/08 02:51 PM
Whether you choose to open your mortgage with Province Mortgage Associates, or with another institution, there are several important details you should know before beginning the mortgage process.  Because so many mortgage difficulties begin with last minute surprises about your mortgage, I have assembled this checklist to assist you in your search for a mortgage, and to make sure you are fully informed about the process.  I hope that you will print out this checklist and bring it on your meeting with your mortgage provider.  When you're done, my contact information is at the bottom should you have any questions. 
Loan Terms
___________              Loan Amount
___________              … (0 comments)

 

Dan Hartman

Providence, RI

More about me…

Province Mortgage Associates - NMLS #2861

Address: 10 Davol Sq, Providence, RI, 02903

Office Phone: (401) 490-4400 x 114

Cell Phone: (401) 263-8655

Email Me

Dan Hartman's Blog about mortgages, real estate, and the economy in New England, and the United States, especially Rhode Island Rates, Connecticut Mortgages, Massachusetts Rate Locks, and New Hampshire Home Sales. Let Dan leverage his MBA in Finance and experience as a college professor for you! Locations of visitors to this page Site Meter


Links

Archives

RSS 2.0 Feed for this blog