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economic graphs: Mike Carew's Mortgage Market Guide 2/9/08 - 02/09/08 05:06 PM
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economic graphs: Do I lock-in my mortgage rate yet???? - 02/02/08 11:02 AM
Yes, rates are lower than a month ago. As they said on the T.V. show Hillstreet Blues... "Be careful out there men.." It's a tough call right now to lock or not to lock in a mortgage rate. The Federal Reserve has lowered the fed funds rate over the the last weeks by a unpresedented 1.25% from 4.25% to 3.00%. Never in the history has the Fed lowered rates at one meeting .75%, let alone having them lower rates again .50% the next week!!! The Fed's objective by lowering the short term rates is to stimulate the economy. The immediate affect … (4 comments)
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economic graphs: Views You Can Use!!! Tax tips and Identity Theft Protection - 02/02/08 08:41 AM
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economic graphs: Mike Carew's Mortgage Market Guide 1/21/08 - 01/19/08 10:16 PM
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economic graphs: Putting a Freeze on Identity Theft... - 01/14/08 07:34 PM
In the time it takes to count to ten, five new people will become victims of identity theft. In fact, according to the U.S. Department of Justice Statistics, identity theft is now passing drug trafficking as the number one crime in the nation--with more than 15 million victims every year.
Rather than lay awake at night worrying and wondering if your identity has been stolen, you can actually take a simple step to protect yourself... it's called a credit freeze (or, sometimes, a security freeze). Essentially, a credit freeze gives you the ability to "freeze" or lock access to your credit … (4 comments)
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economic graphs: Views You Can Use!!! New Year Tips for your Economic Health... - 01/06/08 06:15 PM
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economic graphs: Hey!!! How much can I borrow??? - 12/19/07 10:09 AM
For those of you who have first time buyers their first question usually is "How much of a mortgage can I afford
to pay?". There are several factors that go into determining the most you can borrow. They are your income,
down payment monies available to purchase the home, amount of outside debt that you have, and your credit
score.
The most important factor of the above criteria is your credit score. In this new mortgage market a persons
credit score has become the most important component in getting a mortgage approval. A good credit score is in
the 670-680 range. If you have a score over … (3 comments)
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economic graphs: Mike Carew's Mortgage Market Guide 12/10/07 - 12/08/07 12:56 PM
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economic graphs: Views You Can Use!!! End of the year tips... - 12/08/07 08:06 AM
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economic graphs: Mortgage Rates getting CRUSHED today!!! - 12/07/07 10:22 AM
Wow, the bond market has really had a bad couple of days in a row. Mortgage rates are up about 1/4 to
3/8 on fixed rates mostly based on this mornings jobs report. I also believe the bond market had a nice
rally over the last two months and was due for a pullback. I don't think we will see further declines next week
when the Federal Reserve meets. If they juswt cut a 1/4 point we should have a relief rally in the bond market
and hopefully the trend to lower rates will continue into 2008.
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economic graphs: HEY!!! What the heck are all these fees for my mortgage???? - 12/05/07 11:31 AM
This question may come up from some of your clients. Many mortgage companies and banks are increasing
their fees to their mortgage customers to cover their losses, or just to increase their income by charging more
fees to your real estate buyer.
Fees will tend to vary from region to region and from lender to lender. Below I have listed what I believe
are legitimate fees and some that are just "fluff" that a loan officer is adding on to make more money.
Application Fee---$300 1 family, $450 2-4 family homes. Reasonable to expect from a lender. Clients
usually will pay this upfront to get the … (3 comments)
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economic graphs: Weekly Mortgage Market News 12/3/07 - 12/02/07 02:01 PM
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economic graphs: Weekly Mortgage Market News 11/19/07 - 11/18/07 09:16 AM
-- If this message had been sent to a list and not as a test message, the footer and manage your subscription link would be here. To see this, add yourself to a test list and send a message to that list. … (1 comments)
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Michael Carew
Ramsey,
NJ
More about me…
Office Phone: (201) 934-4504
Cell Phone: (201) 906-0050
Email Me
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