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mortgage rates: Mortgage Guidelines More Important Than Mortgage Rates - 10/08/08 12:14 PM
Many buyers worry about one thing when it comes to a mortgage - the rate - and they pay little attention to mortgage guidelines. But in these market conditions, mortgage rates should be no higher than number 2, if not number 3 on the "worry list" with mortgage guidelines being number 1. 
Why? Because mortgage guidelines dictate whether you qualify for a mortgage in the first place, regardless of the rate. If you can't qualify, then the rate doesn't matter. Private lenders, as well as the FHA, are getting more strict on their guidelines every day.
Here are some examples of how … (0 comments)

mortgage rates: Mortgage Rate Round-Up - September 13, 2008 - 09/19/08 04:49 AM

This was a great week for borrowers locking in their rate - rates plunged almost half a point. Rates are below 6 percent. Several loan officers I spoke with yesterday said that they saw rates as low as 5.75 percent with no points.
Why did rates suddenly plunge? They plunged due to the Fannie Mae/Freddie Mac take-over by the Feds which brought some much-needed calm and (some) stability to the market. Now that the Feds are running Fannie and Freddie, GSE mortgage-backed securities are more appealing to investors. That effect is felt by you and I in the form of lower rates.
What will … (0 comments)

mortgage rates: Mortgage Rate Round-Up - August 23, 2008 - 08/25/08 01:28 PM

Rates dipped down for the second straight week despite the not-so-good news about inflation. Wholesale prices jumped 1.2 percent in July, much more than expected (and at the fastest pace since 1981). Normally, you would expect interest rates to rise on such news, but they didn't.
Despite the lower rates, mortgage applications fell to their lowest level in almost eight years. The Mortgage Bankers Association's index of loan applications was down 1.5 percent compared with the previous week, and was down 34.2 percent compared with the same week last year.
One thing to keep a close eye on is the Fannie/Freddie … (0 comments)

mortgage rates: Why Are Interest Rates Going Up? - 03/03/08 04:35 PM
Many consumers are wondering why interest rates are going up (click on image to enlarge) despite the approval of the economic stimulus bill and higher loan limits on Feb 13. To help answer this question, here is an article from Cathy Jones, Senior Mortgage Lender with OlympiaWest Mortgage Group:
"The short week turned out to be one of the most volatile in recent years. Early in the week, mortgage rates surged to the highest levels of the year, before they turned around and recovered nearly to their starting level, leaving only a small rise for the week. With the Fed cutting rates … (2 comments)

 

Danilo Bogdanovic-Real Estate Consultant -Loudoun and Fairfax County

Ashburn, VA

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Market Advantage Real Estate

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