Ar_home_b_search
 



nh mortgage: NH Home Buyers - The Week Ahead Feb 16 2010 - 02/16/10 08:01 AM
 
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 trade last week, either, so momentum took markets farther than they otherwise might have moved on their own.  It marked the first time in 5 weeks that rates rose for NH rate shoppers.
This week, data returns. Expect mortgage market movement.
Some of the week's more important releases include:
Housing Starts and Building … (0 comments)

nh mortgage: NH Home Buyers Seperating FHA Fact from Fiction - 02/10/10 08:19 AM
The mortgage lending landscape changes a lot.  Rates and guidelines are in constant flux, and it creates preparedness challenges for buyers in Raymond that aren't paying in cash.
The loan you get today won't always be the loan you get tomorrow.
Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of "what's coming next".
Recently, we saw this with respect to FHA home loans.
January 20, 2010, the FHA issued a press release with new lending guidelines.  Specifically, it announced 3 changes that will be effective starting April 5, … (0 comments)

nh mortgage: NH Mortgage Approvals Are Getting More Scarce - 02/09/10 01:32 PM
 

The economy's improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by.
Underwriting guidelines are tightening.
The data comes from the Federal Reserve's quarterly survey to its member banks.  The Fed asks senior bank loan officers around the country to report on "prime" residential mortgage guidelines over the most recent 3 months and whether they've tightened.
For the period October-December 2009:
Roughly 1 in 4 banks said guidelines tightened Roughly 3 in 4 banks said guidelines were "basically unchanged" Just 2 of 53 banks said its guidelines had loosened.
Combine the Fed's survey with … (0 comments)

nh mortgage: NH Mortgage Rates and NH Home Values May move Higher with the Jan 2010 Jobs Report - 02/04/10 10:17 AM
On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls data from the month prior. The data is more commonly known as "the jobs report" and it swings a big stick on Wall Street. Especially now -- many analysts believe job growth is tightly linked to the future of the U.S. economy. Therefore, when January's jobs report hits the wires at 8:45 AM ET tomorrow, Manchester home buyers would do well to pay attention. A net job reading that is much higher (or lower) than Wall Street's expectations can make a serious change in home affordability. Wall … (0 comments)

nh mortgage: NH Mortgage Shoppers - Here's Today's Rate Lock Strategy - 01/27/10 08:27 AM
<!-- This material is non-exclusively licensed to Kevin Wallace, CMPS and may not be copied, reproduced, or sold in any form whatsoever.--> The Federal Open Market Committee ends a scheduled, 2-day meeting today in Washington. It's the first of 8 scheduled meetings for the policy-setting group in 2010. The group adjourns at 2:15 PM ET. As is customary, upon adjournment, the Fed will issue a press release to the markets recapping its views of the country's current economic condition, and the outlook for the near-term future. The post-meeting statements from the Fed are brief but comprehensive. And Wall Street eats them … (0 comments)

nh mortgage: NH Refinancing in the Age of Bailouts - 04/15/09 03:10 AM
NH home owners should take note,
this past week we marked the official start of the Making Home Affordable Refinance Program. We expect that this may help thousands of NH homeowners! The Making Home Affordable program turns a blind eye with respect to falling home values, approving mortgage applications based on borrower payment history and benefit to the NH homeowner. NH mortgage applicants have to meet a few basic qualifications to take advantage of the Making Home Affordable refinance program.
First, your existing NH mortgage must be with either Freddie Mac (Freddie) or Fannie Mae (Fannie). Fortunately, both of these agencies … (0 comments)

nh mortgage: NH Real Estate Values Discussed - 12/31/08 09:49 AM
I have posted a great interview I recorded with Brian Larrabee of Estate of Mind, Inc. We discussed NH home vales and NH mortgage financing but the points raised are applicable in most parts of the country.
To hear the interview head over to our NH real estate and mortgage blog.
If you would like to hear more of our interviews, or would like to be featurd in our 2009 interview series, just drop me a line through our NH mortgage site and Happy New Year to one and all!
 
 
… (0 comments)

 

Kevin Wallace

Manchester, NH

More about me…

Merrimack Mortgage Company

Address: 406 Riverway Place, Bedford Commons, Bedford, NH, 03110

Office Phone: (603) 668-8197

Cell Phone: (603) 475-4512

Email Me



Links

Archives

RSS 2.0 Feed for this blog