The Mortgage Buddy Rate Outlook for the Week Beginning Oct 31st - 10/30/11 12:24 PM
The Mortgage Buddy is writing this week from Nu Cafe in Worcester, MA. We had about a foot of snow yesterday and there are trees and power lines down everywhere.
This week will be highlighted by the release of some manufacturing data, the big unemployment report on Friday, and the promise of a new EU deal to keep the band-aid on the debt crisis for our cousins across the pond for at least a little longer. Last week saw a big move to the upside in mortgage rates. Now big is a relative term because the rates are still in the low to … (0 comments)

The Mortgage Buddy Highlites Refinance America Program - 10/28/11 10:58 AM
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Activerain Inspiration 1.2 for IPhone - 10/26/11 10:56 PM
I have thoroughly enjoyed my time writing, commenting and learning through Activerain. This forum and it's members have been such a source of inspiration. Since my time as a "rain maker" over the past 10 months it has opened the door to many new real estate related relationships. Beyond referrals and relationships, Activerain has given me the inspiration to think outside the box and create systems and tools that other loan officers in my market are not doing. One of the most valuable of those tools has been the creation of my mortgage application for the Android operating system which I released in … (1 comments)

Winter Plumbing & Heating Tips from The Mortgage Buddy - 10/20/11 07:23 PM
Hi everyone,
Up here in Worcester, MA we are easily reminded every year about this time of the changing seasons. The beautiful autumn colors are in the air and the Jack Frost is right around the corner. Now is a great time to review your plumbing and heating systems to make sure everything is in working order before you have to actually use them on a full time basis.
Turn on the heat to ensure it is working Schedule a furnace/boiler cleaning Turn off and drain all outside faucets For all central air conditioning systems, try pouring antifreeze or windshield washer-fluid in … (0 comments)

Mortgage Buddy Sees Potential up Tick in Mortgage Rates this Week - 10/16/11 08:48 PM
The stock market was on an absolute tear last week driving money out of bonds and into stocks which pushed up stock values and interest rates. The rates below 4% are already old news for many lenders and clients who procrastinated are now looking at 4.25% according to Freddie Mac data. This week is going to be huge for the market. There are earnings being reported from large banks like Citi and Goldman Sachs, not to mention a full calendar of economic date being released.
www.freemortgagebuddy.com
Let's take a look at the economic data that could move rates.
Tues & Wed will … (4 comments)

The Mortgage Buddy Sees Rates Come off Record Lows - 10/10/11 06:36 PM
Are we starting to break the downward trend or is this recent rally in the market and bump up in rates just a blip on the charts? After rates touching under 4% as a national average on a conventional mortgage, according to Freddie Mac, the stock market is in rally mode and rates have started the move towards 4.5%. Still an amazingly low rate but if you were one of those people floating your mortgage rate in hopes of that magical 3.5% you might have wished your way right back over 4%.
 
The stock market has had a big jump … (1 comments)

The Mortgage Buddy Reviews the October 1st Changes to Home Financing Part 1 - 10/02/11 02:35 PM
The world of mortgage financing has been changing over the past few years as a result of the credit crisis of late 2008. October 1st marks the next chapter to these changes. The pendulum of regulation has gone from the free for all of the middle 2000s, when it was debatable if you actually needed a pulse to get financing, to the current time, when you need a mortgage professional like The Mortgage Buddy to be thoroughly educated on the ever revolving door of underwriting guideline changes. It can be a frustrating time for real estate professionals and their clients. It sometimes seems like loan … (0 comments)

Unemployment Numbers & Manufacturing in Focus for the Coming Week - 10/01/11 02:54 PM
Once again we have reached that time. The first Friday of the month is almost upon us and with that comes the county's unemployment report. This past Thursday we had some promising numbers with the continuing jobless claims taking a larger than expected drop. The question remains, how will we recover from the horribly flat jobs number last month? We are coming off the worst quarter for the stock market since the crash in 2008, and with the European debt fears it won't take much to send us back towards a double dip recession. But let's stay positive people.
Economic Data for … (0 comments)

 
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John Saari "The Mortgage Buddy"

Worcester, MA

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Office Phone: (508) 740-7442

Cell Phone: (508) 740-7442

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I decided to start writing this blog to be an education resource to my referral partners and my clients. We live in a new world of mortgage lending in which we need to be up to date on the changing underwriting guidlines and mortgage products offered. It's through these updates that we will all be able to provide our clients with the customer service they derserve and expect. It's my belief that this industry insight is what will take our business to the next level. Education = Confidence


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