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)
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)
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)
rates: 2008 Recap, 2009 Preview and a Green Mortgage? Sure, let's put it all in one post - 12/24/08 10:16 AM
2008 has been a year in which many new ideas have arisen, but also one in which old ideas have returned, especially that of “being green”. As we saw gas prices soar past $3.50 per gallon, I think that all of us made an effort to drive a little less, or … (0 comments)
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)
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)
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)
rates: Seven Reasons USDA Mortgages are HOT Today - 09/16/08 01:17 PM
I've been hearing a lot more about the USDA Guaranteed Rural Housing mortgage program lately. I've been seeing a significant increase in buyer interest in this program, too. With the current, (albeit, likely temporary) suspension of seller-funded down payment assistance programs, the USDA GRH program is ideal both for sellers and … (0 comments)
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)
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)
rates: Government Intervenes to Stabilize Fannie, Freddie; Will Mortgage Risk Fall? - 09/08/08 04:44 PM
In a widely anticipated move, the United States Treasury placed mortgage giants Fannie Mae and Freddie Mac in conservatorship this weekend, shoring up markets for the mortgage giants debt, but essentially canceling the value of those companies' stock. This move is seen as providing much-needed reassurance to mortgage investors that their … (1 comments)
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)
rates: Providence Foreclosures Up, But So Are Prospects for Area Banks, Realtors - 07/25/08 02:45 PM
I get an email every day from the Providence Business News recapping the day's events as published in that paper, and there have been several articles of interest this week which reflect on current market conditions. As you may know, while the US as a whole is not currently in recession … (0 comments)
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)
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)
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)
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)
rates: Understanding Construction and Rehab Mortgage Options - 06/11/08 09:23 AM
Great opportunities exist in the real estate market right now. Many homes are selling for far lower prices than they brought at their last purchase. 3- and 4-unit properties are often available for a song due to extreme reductions in viable financing options. But what about getting a home that is … (2 comments)
rates: 2 Ways to Obtain 100% Financing, Even Today - 06/02/08 01:09 PM
A substantial proportion of my business over the past two years has been to clients who have tried and tried, but who have never quite been able to save money. I'm sure you've met them. Whether it's been a question of supporting relatives, financial hardship, or just simple overspending, there are … (10 comments)
rates: Hear me on the radio tomorrow! - 05/30/08 04:40 PM
I'm so excited! I've been asked to be a guest of the Rhode Island Real Estate Insiders tomorrow morning. This weekly live radio program, which airs on AM 790 in Rhode Island and the surrounding area, and webcasts for everyone else, provides insightful information to home buyers, and property investors, and airs … (3 comments)
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!
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