mortgage information: Read beyond the headlines - 09/30/08 12:24 PM
The New "F-word"
As a consumer you need to do yourself a favor and STOP listening to the media! There isn't anything that will depress you faster than reading the paper or listening to the news. The word Foreclosure has been tossed around a little too much lately. It is a … (8 comments)
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mortgage information: The New "F-Word" - 09/30/08 12:18 PM
Read beyond the headlines
The word Foreclosure has been tossed around a little too much lately. It is a recurring theme that the media never reports positive information, it only knows how to hunt for the negative information. Here are some of August's numbers based on figures from Realtytrac, Inc.
There … (2 comments)
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mortgage information: FHA Down Payment Change - 09/24/08 10:54 AM
This one bothers me. It feels "anti FHA". But it is what we have to look forward to.
On January 1, 2009 the guidelines for FHA Down Payments change.
Currently a buyer can put as little as 2.25% on the typical FHA transaction with the only caveot being a 3% … (1 comments)
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mortgage information: Should I lock or Float my Interest Rate? Econonomic Calendar August 25, 2008 - 08/25/08 11:06 AM
Should you lock or float? This has been the year of playing it safe and lock with out looking back since the moves in the market have not been predictable. This week is more of the same. The first issue is it is a holiday shortened week. Whenever we have … (2 comments)
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mortgage information: Cha cha cha Changes.... Time for something exciting and new - 08/18/08 09:04 PM
Big NEWS!
As I begin my 21st year in this crazy career I chose for myself I have to decided to do it with a new company. When my old company of 18 years fell in the turmoil of the Mortgage Markets 12 months ago I Thought that my only option … (10 comments)
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mortgage information: Should I lock or Should I float my loan this week August 17, 2008 - 08/17/08 05:58 PM
I am always asked this question, and it isn't always an easy one to answer, especially in today's environment. If you just put contracts in on a house this weekend and you are applying for a loan I would advise that you lock in at the application if you are closing … (5 comments)
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mortgage information: August 17-22 Market news. What is Happening in the Interest Rate Market? - 08/17/08 05:53 PM
What is Happening in the Interest Rate Market?
The Market has been in turmoil with investors being overly cautious to invest in anything with the word "mortgage" attached to it. And it is this pessimism that is leading the movement in the markets more so than the economic data. The problem … (5 comments)
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mortgage information: Should I Lock, or Should I float - 08/11/08 12:13 PM
This Weeks Economic Data August 11, 2008
I am aways asked "where will rates be next week?" Honestly the only answer is "I don't Know" I can take an educated guess about what is happening in the market and do a quick analysis of the calendar for you to help … (1 comments)
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mortgage information: August 11, 2008 This weeks Market news - 08/11/08 12:08 PM
This is yet another week where it will most likely be the World Economy that drives the credit markets. There is a hand full of economic data being released on the calendar this week as well, with the most important information coming towards the end of the week
Monday and … (2 comments)
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mortgage information: What is the Difference between a Pre-Approval and a Pre-Qualification? - 08/04/08 11:33 PM
Jennifer Allan posted a blogand in the comments we discussed the above subject. She asked me to explain the difference between a Pre- Approval or a Pre-Qualification. I know there has been a lot of chat in the rain about deals falling apart in underwriting etc... I have posted a … (65 comments)
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mortgage information: You just applied, Should you lock or float? This weeks Forecast July 21, 2008 - 07/21/08 03:05 PM
July 21, 2008
The Economic Calendar is a busy one this week, but there is not one piece of data that is expected to move the market. If you wrote a contract over the weekend you may be asking, should I float or should I lock? This information should help you … (2 comments)
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mortgage information: This Weeks Economic Data - 07/21/08 02:59 PM
July 21, 2008
The Economic Calendar is a busy one this week, but there is not one piece of data that is expected to move the market.
Today: we had LEI which was in line with expectations
Tuesday 22nd Treasury Auction of 20 yr indexed securities
Wednesday 23rd, Treasure Auctions 2 … (3 comments)
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mortgage information: Mortgage Insurance Change (PMI) makes FHA even MORE attractive - 07/18/08 10:07 AM
Mortgage Insurance Changes
We have seen Private Mortgage Insurance rates climb. We just received an announcement that the factors for Monthly PMI (the most common form of PMI) have gone up.
Why? Much like any insurance company, they do not want to pay out... since they have been paying out more … (5 comments)
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mortgage information: PMI Changes, FHA is looking even Brighter - 07/18/08 09:59 AM
PMI Changes
With the declining market and increase in foreclosures we have seen Private Mortgage Insurance rates climb. We just received an announcement that the factors for Monthly PMI (the most common form of PMI) have gone up.
Why? Much like any insurance company, they do not want to pay out... … (2 comments)
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mortgage information: This Week's Financial Calendar - 07/14/08 07:32 PM
This weeks Financial Calendar
This is a busy week on the financial calendar and it promises to have potential for a bumpy ride. Sunday the Fed Governors and the Treasury announced that they would lend money and buy stock to support Fannie and Freddie. These comments will insure a flow … (3 comments)
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mortgage information: FED leaves Short Term Rates UNCHANGED - 06/25/08 01:53 PM
As expected the FED did not raise rates at this week's meeting. The Fed says:
Uncertainty over inflation outlook remains high while downside risk to growth has diminished.
The news is considered to be neutral to slightly negative.
Initially the market sold off on the news but has been improving … (3 comments)
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mortgage information: Rate update - 06/20/08 03:29 PM
Mortgage rates jumped last week to the highest levels we have seen in quite some time. There were a few reasons for the sell off in the markets... You can blame things partially on the price of oil which has caused a fear of inflation, but the biggest reason was a … (1 comments)
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mortgage information: FED cuts Interest rates, What does that mean for Mortgage Rates? - 03/18/08 04:49 PM
FED Moves do not directly effect Mortgages
Every time the FED moves I get calls with the same questions or comments... "I heard the FED lowered mortgage rates." That is hardly the case. The FED moves the shortest of short term rates, Basically the overnight lending rate to banks.
Any time the Fed … (4 comments)
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