T Chumba's (rightmortgage) Blog

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RECENT BLOG POSTS
So I’m sitting here watching CNBC, and what do I hear? FHA changes UFMIP to 2.25% and Down Payments are being increased! If you recall, I have been writing about my outlook on FHA changes for a while now, and folks, I wasn’t that far off. The Federal Housing Administration has been in some finan...
01/20/2010
Well, we had a nice run from Jan. 14-15, but rates are taking a break from getting better…at least for now. Mortgage bonds are currently down 16 bps, and mortgage rates should open a tad higher this morning. There are no economic reports for today, but tomorrow we got a hell of a lineup: Produce...
01/19/2010
The reports are in folks, and here’s what we got this morning: Empire State Manufacturing Survey – estimated to be 13 , actually 15.92 Consumer Price Index (CPI)- estimated to be 0.1% , actually 0.1% Industrial Production- estimated to be 0.6% , actually 0.6% Capacity Utilization - estimated to ...
01/15/2010
Well after a pretty rough day for mortgage bonds yesterday, we are seeing a little rebound after this morning Jobless Claims. The figure came in higher than expected at 444k. Also had the Retail Sales report this morning, and while it was expected to come in at 0.4%, it actually came in alot belo...
01/14/2010
Well, when you have 85k jobs lost in December and the unemployment rate is at 10%, the New Year doesn’t particularly look that promising to you if you’re getting fitted for that cap and gown in May. While many are saying that the economy is “switching gears”, a 10% unemployment rate isn’t really...
01/08/2010
(via Texas Department of Insurance)AUSTIN – Texas weather can change quickly, especially in the winter. A fast-moving cold front can cause temperatures to drop below freezing within hours. Outdoor pipes, pipes in unheated areas, and pipes that run along uninsulated exterior walls can burst if the...
01/07/2010
Good morning all! The only economic report for today is the Jobless Claims, and that figure has come in at 434k, a little bit lower than the 439k that was expected, and not much different than the prior 433k. Mortgage bonds are holding steady from yesterdays losses, as we are currently up 3 basi...
01/07/2010
Hope everyone had a great New Year celebration! For Texas lenders such as myself, it is definitely going to be a challenging year with all these rules and regulations that have come out and others that are still in the works. Mortgage bonds are up 41 bps this morning and are kicking some serious...
01/05/2010
Great News! The Texas Department of Housing and Consumer Affairs (TDHCA) has replenished it’s Downpayment Assistance Fund for First Time Home Buyers. (Bond Program 74) The Texas Department of Housing and Community Affairs (TDHCA) recently released a new First Time Homebuyer Program (Bond Program...
12/31/2009
Top of the morning to ya! Last Thursday of 2009, so let’s see what’s going on. Initial Jobless Claims are about to come in here in a little bit. We are expected to come in at 460k, higher than last reports figure of 452k. This report measures the number of people filing for state unemployment in...
12/31/2009
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Mortgage and FHA Loan Tips and Advice covering Houston, Austin, Dallas, San Antonio, and all around Texas.