Mortgage Industry Blog

Earlier this week, the private-sector Case-Shiller Index showed home prices slightly lower between November and December.  Thursday, the public-sector Home Price Index showed the same. Publishing on a 2-month lag, the Federal Home Finance Agency said home prices fell by 1.6 percent nationally in...

The housing recovery showed particular weakness in the New Homes Sales category last month - good news for homebuyers around the country. A "new home" is a home for which there's no previous owner. New Home Sales fell 11 percent from the month prior and posted the fewest units sold in a month sin...

  Using data compiled in December, Standard & Poors released its Case-Shiller Index Tuesday.  The report shows home prices down just 2.5% on an annual basis, a figure much lower than the 8.7% annual drop reported after Q3. According to Case-Shiller representatives, the housing market is "in bett...

Mortgage markets had a terrible, holiday-shortened week last week as Wall Street responded to worse-than-expected inflation data and action from the Federal Reserve.  Mortgage bonds sold off with force, causing mortgage rates to rise for the second week in a row. Last week was a bad week to float...

Federal Reserve released the minutes from its January 26-27, 2010 meeting. Mortgage rates in South Carolina are now at their highest levels since the start of the year. The Fed Minutes is a follow-up document, delivered 3 weeks after an official FOMC meeting. It's a companion piece to the post-me...

According to the Census Bureau, 2.8 million people commute to work 90 minutes or more each day, in each direction. Now, your daily commute may not be as long, but time spent in cars, trains and buses is time away from work and from family. Drive-time can affect a person's Quality of Life and it's...

Mortgage markets worsened last week on general profit-taking in the U.S. bond market, combined with talk of a coordinated rescue effort for Greece and its debt burden. Mortgage-backed bonds sold off, causing conventional and FHA mortgage rates to rise. There wasn't much hard data on which to trad...

A long weekend lies ahead in which much may...or... may not occur. Seems like a good time for an "official announcement" from abroad doesn't it?  The majority of markets are out of office... We are closed on Monday for President's Day. Mainland China is out from Monday to Friday for Lunar New Yea...

  Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates in South Carolina improved for the 4th consecutive week. Mortgage rates are now at a 6-week low bu...

 As mortgage lenders tighten approval standards   in South Carolina and nationwide, the importance of a good credit score is rising.  Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also play a large role in determining your actual mortgage ...