Positive Day! - 03/28/08 04:39 PM
Today was a positive day in the Columbia market today! We haven't been able to say that too much lately have we? MBS prices steadily improved all day resulting in mortgage rates improvements! While we don't know if this trend will continue, it is still a good sign. As soon as the MBS market stabilized, so will mortgage rates! At the same time we received numerous phone calls and realtor referrals today! In taking these applications and talking to the Realtors involved, it does sound like the activity is picking up! This is of course another great sign! Even as all … (3 comments)

Home Buyers... Will you take advantage? - 03/25/08 10:18 AM
Consumer Confidence was reported this morning and guess what, that's right more bad news! It came in at a 35 year low! The index fell to 64.5 which was lower than the March forecast of 73.3.If the title of this index doesn't do it for you, this is a gauge of how confident people are in the economy. Also reported today was that housing prices fell once again across the county. I bring this bad news up for 2 reasons. First, to report it to our readers. Second, to also point out that just because bad news is splashed around in … (0 comments)

100% Financing - 03/21/08 09:06 AM
100% financing is obviously a big deal in the mortgage market! We have been fielding numerous questions on this product lately. Is it still available? How much longer will it be available? Is it harder to qualify for now? These are all valid questions. Some of which we have the answer for and some we don't. 100% programs are still available, but the number of lenders offering them has dwindled. The qualification for this program has changed for some lenders as well. It is harder to qualify with some lenders now as the credit score requirement went up to 680 or … (0 comments)

Today's Rate Cut and Setting Your Expectations! - 03/18/08 03:16 PM
As expected the FED cut the Federal Funds rate another .75% to 2.25%. Again this is the rate that banks and other institutions borrow money at. (not a rate that directly lowers mortgage rates)The cheaper it is for them, the more liquid they are. It is the FED's hope that this helps during this extremely trying time! As usual the markets have bounced all over the place as a result of this news. Mortgage rates dropped a ton yesterday and then we have seen numerous re-prices for the worse today! This was expected, but it is extremely frustrating for us and … (0 comments)

Links to Some Top Mortgage / Economic Stories! - 03/07/08 11:03 AM
There are several news reports out today that impact the economy and mortgage rates. I thought it would be helpful to link to these. With the market being so volatile, it helps to keep informed on these topics.FED Takes New StepsFED Projected to Make .75% FED Funds Rate Cut.Jobs Decline!Foreclosures at an All-Time high!All of these stories are big news and affect mortgage rates in some way.If you have any questions on the information contained in these articles please post your question in our comments section or call.Have a Great Weekend!Brought to you by:Professional Mortgage Group, Inc.
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"Vigorous" Action - 03/04/08 10:19 AM
It looks as though FED Chairman Ben Bernanke is finally grasping what is going on in the mortgage market. His recent comments show that he finally is realizing how severe the problem is and that these foreclosures are very hard to stop! We have these new programs in place to help curtail the problem, but they are not enough. Bernanke finally stated in a speech that all banks just need to suck it up and realize these losses are not going away! They are not going to be paid back and they need to just take the losses on their books … (0 comments)

 

Eric Hemmer

Columbia, MO

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Flat Branch Home Loans, Inc.

Address: 111 S Fifth St Ste 200, Columbia, MO, 65201

Office Phone: (573) 442-3850 x 209

Cell Phone: (573) 424-2169

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