mortgage rates: Weekly Winter Haven Mortgage Rate Report: February 4, 2009 - 02/04/09 08:43 AM
Hi folks, Kevin Sandridge here with your Weekly Mortgage Report.
The initial outlook for this week is a bit stormy for the housing market here in Winter Haven, Florida and across the nation. Consumer confidence tanked to an all-time low last week, and 100,000 American workers were handed pink-slips, each playing a … (0 comments)
mortgage rates: Weekly Mortgage Market Commentary - February 2, 2009 - 02/02/09 10:26 AM
Mortgage Backed Securities (MBS) traders will stay focused primarily on employment and supply this week, looking for evidence that the recession may be deepening while taking stock of the expected record amount of debt required to finance what may be the largest round of government spending to date.
Today we'll … (2 comments)
mortgage rates: Winter Haven Mortgage Rates Climb Higher - Is China to Blame? - 01/28/09 10:10 AM
Weak economic data and less than stellar corporate earnings sent mortgage markets on a downward turn last week. As such, rates rose a second week and are now a bit higher than they were at their average low point seen three weeks ago.
What many of you might not know, … (1 comments)
mortgage rates: Mortgage Rates are Lower, but Fees Are Up - 01/18/09 08:11 PM
Well, folks... we've seen yet another week of the headlines squawking about plummeting mortgage rates here in Winter Haven, Florida and across the nation.
Eyes bulged and exclamations roared as the papers let fly with Freddie Mac's recently published mortgage rate resting at a very alluring 4.96 percent, the lowest since … (2 comments)
mortgage rates: Winter Haven, FL Mortgage Rates Falling, but Fees Are On the Rise - 01/09/09 11:15 PM
Winter Haven, Florida mortgage rates might be falling, but the costs of financing your Florida home are rising. To understand why, we need to talk a little about conforming versus non-conforming loans.
See, conforming loans are loans written according to strict guidelines and borrowers need to have, among other things, good … (1 comments)
mortgage rates: Two Florida Counties Maintain their "High Cost" Area Status - Loan Amounts Drop - 01/04/09 10:08 PM
When Congress passed the Economic Stimulus Act of 2008, they authorized significant conforming loan limit increases in "high-cost" areas around the country. This change really didn't impact Florida counties all that much.
However, there are some reductions to note: Effective January 1, however, those limits rolled back. Conforming mortgages in … (3 comments)
mortgage rates: Improved Retail Sales Numbers May Result in Higher Mortgage Rates - 11/10/08 09:54 AM
It's a self-reinforcing cycle. So if retailers post better-than-expected numbers this week, expect stock markets to gain favor worldwide as investors chase returns. This will cause money to pull out from bond markets of all kinds -- including mortgage-backed bonds.
Less demand for bonds causes mortgage rates to rise.
Also, … (0 comments)
mortgage rates: Buying a Home in 2009? Be Sure to Get Your Financial House in Order - 11/05/08 09:42 AM
Those here in Winter Haven, FL and across the nation looking to buy a home in 2009 should be sure to get their financial house in order - as mortgage rates are poised to toughen even more heading into the new year.
The Federal Reserve confirmed what most of … (0 comments)
mortgage rates: How The Presidential Election May Impact Mortgage Rates - 11/04/08 11:26 AM
More than a handful would-be home buyers stayed on the sidelines this year, waiting for Election Day to pass.
The prevailing thought was that once the new President-Elect was identified, credit markets will systemically unfreeze and housing markets will return to normal.
If history is a guide, this is an unlikely … (9 comments)
As global credit markets deteriorated in October, mortgage markets displayed an unnerving amount of volatility.
Last week was no different.
But, unlike in previous weeks in which rates improved on some days and worsened on others, mortgage rates were mostly higher last week, finishing the month on a surge. … (1 comments)
mortgage rates: The Fed Cut Rates... Mortgage Rates on the Rise... - 10/30/08 09:22 AM
The Federal Open Market Committee voted to cut the Fed Funds Rate by one-half percent today. The benchmark rate now stands at 1.000 percent.
Just as we said... when the Fed cuts rates, Mortgage rates climb. Please be sure to educate your colleagues and clients on this very important point - as I am … (3 comments)
mortgage rates: Consider Locking Now... 'Cause the Rates Are Likely to Pop! - 10/29/08 09:27 AM
The Federal Open Market Committee adjourns from its scheduled 2-day meeting today at 2:15 P.M. ET and the markets are eagerly awaiting the central bank's press release.
In it, Fed Chairman Ben Bernanke is expected to address the U.S. economy, the future of credit, and the new Fed Funds Rate.
Dear Friends … (4 comments)
mortgage rates: New Fannie Mae Changes - Buyers on the Fence Should Take Heed - 10/21/08 11:18 AM
In an effort to limit risky borrower behavior, Fannie Mae announced a new round of mortgage guideline changes last week.
Unlike previous its previous 20-plus updates that raised income requirements and minimum credit scores (among other changes), Fannie's latest guideline tweaks focus on the value of its underlying mortgage assets -- … (7 comments)
mortgage rates: Mortgage Rates Improve... but Volatility Points to More Changes - 10/20/08 09:12 AM
Last week, the Dow Jones Industrial Average recorded both its largest one-day point gain and second-largest one-day point loss in history.
Mortgage markets and rate availability here in Polk County and across the nation got whipsawed, too.
From day to day, huge rate swings made mortgage rate shopping difficult. It wasn't … (6 comments)
As the good folks of Winter Haven, FL and the rest of Polk County try to make sense of what's going on in the mortgage and financial markets - one thing holds true about the overall outlook: It's clear as mud!
As the stock market dips then jumps then … (1 comments)
mortgage rates: Mortgage Rate Adjusting? You May Be in for a Surprise... - 10/15/08 09:32 AM
For Winter Haven and Polk County, FL homeowners with soon-to-adjust adjustable rate mortgages, the recent banking turmoil worldwide may lead to budgetary pain.
This is because most conforming ARMs made since 2003 are based on a borrowing cost called LIBOR and LIBOR is up an uncharacteristic 2 percent since September.
LIBOR stands for … (0 comments)
mortgage rates: Great News! The Stock Market Fell Below 10,000! - 10/07/08 09:30 AM
Monday, the Dow Jones Industrial Average closed below the psychologically-important 10,000 level for the first time since 2004.
Despite the milestone-marker breach, however, there was a large group of Americans with reason to cheer. As stocks sold off, mortgage markets rallied to the benefit of home buyers and mortgage rate … (1 comments)
mortgage rates: Lock in Mortgage Rates Now... They'll Likely Change by Noon! - 10/06/08 08:37 AM
If you're shopping for a mortgage here in Winter Haven or the surrounding Polk County, FL area - you'd do well to lock in a rate as soon as you see one you like. In other words, a mortgage rate quote from the morning is likely to be "expired" by … (0 comments)
mortgage rates: Mortgage Rates Up ... and Down... in Rapid Fashion - 10/01/08 09:28 AM
Monday, after the House of Representatives defeated the Emergency Economic Stabilization Bill of 2008, the stock market fell in historic fashion.
The Dow Jones Industrial Average closed down 777.68 points, its largest one-day point loss ever.
By Tuesday, however, optimism had returned to Wall Street.
Assuming that the bill would pass in some … (0 comments)
mortgage rates: Bailout "No" Vote a Good Thing for Rate Shoppers - 09/30/08 10:40 AM
Monday afternoon, the U.S. House of Representatives defeated the $700 billion "Bailout Bill", surprising Wall Street and the world.
The Dow Jones Industrial Average responded by falling 777.68 points -- its largest one-day loss in history and, this morning, every newspaper in America is covering the story as front page news.
Lost … (0 comments)
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Hi folks, Kevin Sandridge here with your Weekly Mortgage Report.
The initial outlook for this week is a bit stormy for the housing market here in Winter Haven, Florida and across the nation. Consumer confidence tanked to an all-time low last week, and 100,000 American workers were handed pink-slips, each playing a … (0 comments)
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