rates: 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 … (0 comments)
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rates: 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 … (0 comments)
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rates: Mortgage-Treasury Spread Hits New Lows - Are mortgages safer now? - 04/05/10 11:51 AM
Mortgage-Treasury Spread Hits New Lows - Are mortgages safer now?
In mid-March, a number of articles were published suggesting that the end of the Federal Reserve's Mortgage Backed Security purchase program might drive mortgage rates somewhat higher, fairly quickly. The Fed had telegraphed this upcoming action very loudly and very clearly … (0 comments)
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rates: Combining Education with Mortgages: My Job is Much More than Just Writing Loans - 02/24/10 07:12 PM
Combining Education with Mortgages: My Job is Much More than Just Writing Loans
Education is important.
Without education, income levels are lower. According to the macroeconomics textbook used in the course I'm teaching right now, in the United States, each year of education accrues a 10% average increase in income for … (0 comments)
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rates: Jumbo Mortgages in 2010 - Will the secondary market keep forcing ARMs on owners? - 01/13/10 04:52 PM
Jumbo Mortgages in 2010 - Will the secondary market keep forcing ARMs on owners?
Flash back a couple of years, and you'll remember the Federal Government initiating a program to allow Fannie Mae and Freddie Mac to purchase loans greater than $417,000 on a temporary basis. Fannie and Freddie had … (0 comments)
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rates: 2010 New Hampshire FHA and Conventional Loan Limits by County - Jumbo Cutoffs - 01/12/10 04:38 PM
2010 New Hampshire FHA and Conventional Loan Limits by County - Jumbo Cutoffs
Wondering what makes a Jumbo mortgage in New Hampshire for 2010? Here's the updated limit information, compiled from the Federal Housing Finance Authority and the Federal Housing Administration by county.
County FHA Limit Conventional Limit
Belknap $281,250 $417,000
… (0 comments)
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rates: 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 … (0 comments)
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rates: What's new in the mortgage market? Keeping up on recent changes - 03/30/09 11:26 AM
Good morning!
It’s been a little while since I had the opportunity to write, and I wanted to pass along a bit of information about what is going on in the financing market. There have been some changes recently that need to be considered, so I’d like to take a few … (1 comments)
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rates: Mortgage - Treasury Spread closes sharply in January - is Fed buying bringing stability? - 02/12/09 10:19 AM
In a month which saw the lowest 30-year fixed rates on record, it isn't surprising that the massive groundswell of refinancing we experienced happened. Its consequences could also be seen as quite predictable: lenders, fresh from laying off thousands of employees in 2008, saw their operations grind to a halt as … (4 comments)
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rates: Builders converge, but does their idea make sense? - 01/14/09 09:59 PM
I attended a presentation yesterday regarding the possible solutions to the real estate problems currently facing Rhode Island, and, one of the things I learned about was a proposal by the National Association of Home Builders to stimulate home sales by artificially lowering 30-year mortgage rates to 2.99% for a 6 … (1 comments)
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rates: Rates drop sharply on $600 Billion Fed Purchase - expect to see 5.5% 0 points in some cases - 11/25/08 09:12 AM
I only have a minute to post right now, but I wanted to make sure you're aware that there has been a dramatic shift in mortgage pricing this morning.
This morning the Fed announced it was going to buy $600 Billion in mortgage assets. This has had a huge impact on … (0 comments)
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rates: Flight to Safety continues as US government lends $85 Billion to stabilize AIG - 09/17/08 11:10 PM
Earlier this week, I recapped the market phenomenon referred to as a "Flight to Safety". In such a situation, investors flee riskier investments, in favor of assets that are more secure, such as oil, treasury bills, and gold.
What happened today is clearly such a Flight to Safety.
As you know, … (0 comments)
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rates: Why is gasoline still $3.50 or more when oil falls to $91? Supply and Demand holds the key - 09/16/08 11:57 PM
I've gotten a number of questions lately on broadly ranging economic topics, with a significant focus on everything on Wall Street, such as Barclays' purchase of Lehman assets, and the government "bailout" of AIG, but one area I thought merited a bit of discussion is the current oil / gasoline price … (5 comments)
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rates: Wall Street Rocked by Credit Fallout; the Definition of a Flight-to-Quality - 09/15/08 12:19 PM
If there is rock & roll playing in lower Manhattan this morning, it is probably The Doors' "Peace Frog", as investors awoke to a market seeing financial giants Lehman Brothers, Merrill Lynch, and American International Group all discussed in badly negative news.
Lehman, a troubled investment firm with major investments in … (1 comments)
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rates: Down Payment Assistance Programs: Suspended, for now - 09/15/08 09:59 AM
Well, it's official. I got an email this morning from our last wholesaler that was offering to fund loans using seller-funded down payment assistance programs like Nehemiah or Ameridream, stating that they were going to stop accepting new registrations for loans using these programs.
So, this means no more 100% financing, … (3 comments)
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rates: After brief respite, Mortgage – Treasury Spread reaches new peak - 08/25/08 09:09 PM
The 2nd quarter of 2008 began on a positive note for mortgage borrowers, as a relative lack of news caused the Mortgage - Treasury spread to narrow from its March 13th peak at 2.60% to a low of 2.03% May 30th. The Mortgage Treasury spread is an indicator of relative risk … (4 comments)
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rates: Worries at Fannie, Freddie, push Mortgage - Treasury rate spread close to 52-week high - 07/11/08 09:06 AM
Fannie Mae and Freddie Mac have been struggling with the fallout of the mortgage and foreclosure crisis for some time now. This week alone, there have been several front-page articles in the Wall Street Journal. In pre-market trading this morning, stocks of the two companies are in free-fall, suggesting possible losses … (4 comments)
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rates: Province Mortgage Associates Celebrates 3rd Anniversary - 07/03/08 06:49 PM
I don't write a lot of what I consider "shameless self-promotion" articles, but I think that a mortgage company completing its 3rd year in existance given current market conditions is a great testament to the quality people I work with, to their dedication, and to their perseverence. We held an anniversary … (3 comments)
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rates: 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 … (5 comments)
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rates: 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 … (5 comments)
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