Arizona Real Estate Show with Jeff Underwood
My blog contains updated information on personal finance and mortgages. My passion is to keep consumers and other professionals on the cutting edge of changes in the credit and lending industries.
ARCHIVED BLOG POSTS
2008
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Gasoline prices reached an all-time, inflation-adjusted high yesterday, averaging $3.23 per gallon nationwide. According to GasBuddy.com, this represents a 25% increase in the last 12 months.Higher gas prices are leaving Americans with fewer discretionary dollars to spend and that is playing a r...
03/31/2008
When mortgage rates change rapidly, it's a fiscal challenge to shop for a home and/or home loan.Lately, mortgage rates have been especially volatile, mirroring the wild moves of the stock market. Here's how up-and-down stock markets have been in 2008: Through last week, the S&P 500 Index change...
03/28/2008
Each month, the Commerce Department and the National Association of REALTORS® release national housing data. The former's release is called the New Residential Sales report and the latter's is called the Existing Home Sales report.Both reports highlight the "median sales price", the point at whi...
03/27/2008
Consumer Confidence fell to its lowest point in three years and anybody who watches the evening news can understand why.Each day, news programs barrage Americans with tales of economic woe and American Opinion is largely shaped by the media.After enough time, the reporting becomes a self-fulfilli...
03/26/2008
In slower markets, some loan officers may feel pressured to close deals that aren't in the homeowner's best interest. In order to avoid getting into difficult and financially compromised positions with their mortgages, borrowers are well advised to be acutely aware of the signs of a responsible ...
03/25/2008
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Since December 2007, mortgage lending guidelines have changed very quickly and often without notice. Some of the more well-known changes include:Broad restrictions on stated income home loans Broad restrictions on 100 percent financing "Risk-based fees" for credit scores under 740Some of the le...
03/24/2008
When mortgages began to sour last Fall, Fannie Mae and Freddie Mac instituted "loan-level pricing adjustments".The concept is basic: For mortgage applicants with less-than-ideal credit profiles, mortgage pricing is adjusted to compensate for the added risks. It's still a conforming loan, but wi...
03/24/2008
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My blog contains updated information on personal finance and mortgages. My passion is to keep consumers and other professionals on the cutting edge of changes in the credit and lending industries.