mortgage rates: Gas prices Drop! - 07/25/08 04:41 PM
Wow, local gas prices in Charlotte, NC have dropped. They had gotten up to $4.07 but today can be found as low as $3.89! A friend of mine told me that just over the border in S.C. you can find it for $3.59!! I hope this trend continues because as inflation … (10 comments)
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mortgage rates: Market Update 07-25-2008 - 07/25/08 02:16 PM
US Stocks are up on positive news from the housing industry, along with a surprise increase to the Durable Goods, and Consumer Sentiment reports. Mortgage Bonds fared poorly overnight, and after beginning the day lower,r have given up more ground during the day's trading.
US Stocks have lost some of their … (0 comments)
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mortgage rates: Financial and Mortgage Market Video Update for July 25th - 07/25/08 12:41 PM
Hello AR Team,
Well, never a dull moment on a Friday. It is hard to take a Friday off for a long weekend and enjoy it knowing something major is likely to happen in the markets.
We have this total see-saw going with positive news and negative news. It doesn't take … (2 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Friday, July 25, 2008 - 07/25/08 09:05 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Durable Goods Orders rose more than analysts expected. New Homes Sales rose slightly and … (0 comments)
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mortgage rates: Mortgage Calculator - 07/24/08 07:19 PM
Click on the link for some great Mortgage Calculators.
Posted by Ken Pederson Certified Mortgage Planner, CMPSFAIRWAY Independent Mortgage Corp in Lancaster, PA
PA's Best Lender
… (0 comments)
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mortgage rates: Volatile Interest Rate Market - 07/24/08 07:14 PM
Take a look at the chart below and you can see the volatile movement of the bond market and mortgage interest rates will correspond accordingly. As bond prices go down, as shown in RED below... mortgage rates go up. As bond prices go up, as shown in GREEN... mortgage rates go … (0 comments)
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mortgage rates: The Housing and Finance Bill - 07/24/08 07:07 PM
This Bill synopsis was provided to us by Lenders One. See bottom of article for full credits. Dated 7/23/08. The House and Senate reached agreement on a massive housing bill that affects FHA, Fannie and Freddie, tax policy and many changes involving the housing market. We have previously briefed you by … (0 comments)
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mortgage rates: Economic Round Up - 07/24/08 06:14 PM
There's always the good news and the bad news.......I'll start off and end with the good stuff, there's not much today.
On a positive note crude oil prices have been much lower this past week as the bubble seemingly has burst on the speculation that was driving oil prices … (3 comments)
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mortgage rates: .Freddie Mac's SEC Filing : The 2 Sentences That Matter In A 1,394-Page Document - 07/24/08 04:40 PM
Sometimes, the hardest part about news is knowing where to find it.
In its filing with the SEC last week, Freddie Mac stated that it will "pursue increases" to its middleman fee. This would likely make mortgages more expensive for every conforming borrower in the country.
The exact verbiage from … (0 comments)
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mortgage rates: Two Intra-Day Price Improvements! - 07/24/08 04:22 PM
The market was down pretty significantly today, but that's not all that drove the price of bonds up, and interest rates down!
The 10 year bond, which started the day at 4.12%, ended the day at 4% even. Twelve basis points is a significant move.
Some of our lenders improved loan … (9 comments)
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mortgage rates: Market Update 07-24-2008 - 07/24/08 11:40 AM
US Stocks are well into the red today on more bad news from the Auto, and Housing industries. Mortgage Bonds are the beneficiary as they started the day up over Wednesday's closing number, and have gained more in early trading.
The Stock Market has been on a roll lately, with … (0 comments)
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mortgage rates: Home buying fear - 07/24/08 09:50 AM
I was shocked. Actually I was probably more like astounded than anything at what I had just read. On this rainy dreary morning on the gulf coast of Texas, currently suffering the hangover of Hurricane Dolly, I needed to refill my coffee mug, grab a cigar, yes I smoke those when I need to contemplate the world, … (0 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Thursday, July 24, 2008 - 07/24/08 07:48 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
This morning Jobless Claims came in almost 10% higher than expected. Yesterday, the Beige … (2 comments)
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mortgage rates: Charlotte Mortgage Rates - 07/23/08 05:08 PM
Charlotte Mortgage Rates as of 7/23/08
FHA and Conventional 30 year fixed are around 6.5%. This is what most lenders are quoting out there.
The Mortgage Bond market improved a little today but overall rates are flat. The stock market rally over the past week has hurt mortage bonds quite a bit. … (0 comments)
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mortgage rates: Market Update 07-23-2008 - 07/23/08 11:16 AM
US Stocks have rebounded in this morning's trading with all three major indexes in the black. Mortgage Bonds started the day lower than yesterday's finish, but have now bounced higher after hitting technical support levels.
Stocks are reacting positively to our strengthening Dollar, and a continuing decline in Oil pricing. Oil … (0 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Wednesday, July 23, 2008 - 07/23/08 07:53 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Major Report due out this afternoon which will offer some guidance to how the … (0 comments)
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mortgage rates: Freddie Mac Update: Rates Wont Rise After All - 07/22/08 04:10 PM
Market Speculation About the Fed's Future Actions Allows Rates to Drop
Freddie Mac vice president and chief economist. "Some of the factors motivating the change in market perceptions this week included retail sales for June rising at the slowest pace since February and consumer sentiment in July holding at low … (0 comments)
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mortgage rates: The Inflation Calculator Checks Whether Your Income Is Keeping Pace With The "Cost of Life" - 07/22/08 02:44 PM
The phrase "Consumer Price Index" can be intimidating and unclear to Americans. It's an economic term, after all, and not a part of everyday American language.
It even has its own abbreviation to add to the confusion -- CPI.
So, when a layperson hears that "CPI is rising", it's not … (0 comments)
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mortgage rates: It's time to buy. - 07/22/08 01:04 PM
So many times I have heard customers make the statement that they are going to "feel out the market" and it just makes me shudder. With the rates so volatile and the uncertainty of tomorrow's housing market, today is the time to snatch up that home. If the companies such as … (13 comments)
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mortgage rates: Market Update 07-22-2008 - 07/22/08 12:10 PM
US Stocks are mixed on another seesaw day of trading. Mortgage Bonds started strong, breaking above pricing resistance, but turned negative on inflation fears.
The Dow is currently the lone positive index on the day, and even that is precarious, and only over the last hour of trading. Today's news is … (2 comments)
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mortgage rates: To buy or not to buy? - 07/22/08 11:10 AM
I have a client that came to me a month ago and asked me this question "do you think the market has bottomed out". I explained to him that he can find some great values out there and if he is ready to buy a home, this is a GREAT time … (1 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Tuesday, July 22, 2008 - 07/22/08 08:26 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
No economic reports are due out until tomorrow afternoon. Bonds will be taking direction … (0 comments)
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mortgage rates: Interest Rates - Texas Veterans - 07/21/08 01:45 PM
The new interest rates for loans through the Texas Veterans Land Board for this week are as follows:
6.18% Base Rate applies to all loans with a term greater than 15 years.
Available Discounts to Base Rate*Discount for loans with a term of 15 years or less: -.25%Qualified Veterans with Disabilities … (3 comments)
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mortgage rates: Market Update 07-21-2008 - 07/21/08 01:30 PM
US Stocks are experiencing another seesaw day of trading, and are currently fighting to get back to par. Mortgage Bonds have held their ground as they trade in one of their tightest ranges in weeks.
The Stock Market came out with positive momentum early on, as once again Lowered Expectations … (0 comments)
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mortgage rates: Five Year Increments by David Reed - 07/21/08 09:20 AM
Which is better, a 30-year or a 15-year fixed rate mortgage? A common and important question which, when answered, affects both the monthly payment and the amount of interest paid on a mortgage loan. While paying less interest over a shorter timeframe seems to be the obvious answer, the difference in … (7 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Monday, July 21, 2008 - 07/21/08 09:17 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Index of Leading Economic Indicators was released this morning meeting expectations. For an index … (1 comments)
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mortgage rates: Illinois Mortgage Rates -Weekly Mortgage Update - 07/20/08 09:38 PM
Welcome to Illinois Mortgage Rates and News week in review for the week ending July 18th, my take on the week's financial news and how it affected Illinois mortgage rates.
This was a brutal week for mortgage bonds, and mortgage rates. After a false start where rates recovered on Monday, the … (1 comments)
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mortgage rates: Mortgage Rates Fall Again - 07/19/08 09:36 PM
For the second week in a row mortgage rates have fallen. For those that don't read my updates regularly I wanted to give a short background on what rates have been doing. From the end of April to the beginning of June 30 year mortgage rates hovered around 6 percent. Then … (1 comments)
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mortgage rates: Watch and learn about interest rates - 07/19/08 09:20 PM
Whether your a new home buyer or a repeat buyer, there are a handful of topics that you need to pay attention to in order to insure that your decision making is based on solid ground.
The location, the feel, and the price of your home are the most important considerations. … (0 comments)
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mortgage rates: LONG- AND SHORT-TERM MORTGAGE RATES TAKE A WELCOME PLUNG - 07/18/08 01:01 PM
For Immediate Release
July 17, 2008 CONTACT: corprel@freddiemac.com or (703) 903-3933
LONG- AND SHORT-TERM MORTGAGE RATES TAKE A WELCOME PLUNGE
Market Speculation About the Fed's Future Actions Allows Rates to Drop
McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage … (0 comments)
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mortgage rates: Market Update 07-18-2008 - 07/18/08 12:10 PM
US Stocks are in a seesaw trading day, and are basically flat right now. Mortgage Bonds are not so lucky, having began lower, and then fallen further during the morning.
Its another strange day on Wall Street as traders are acting almost entirely on results versus expectations, rather than profitability. … (0 comments)
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mortgage rates: Interest Rates - 07/18/08 11:53 AM
I have been telling everyone that would listen that "NOW" is the time to buy the house you want. Interest rates are great, prices have leveled off or dropped a bit (in the Eugene area), and even if the price on a $250,000 home dropped another $10,000, a rate change of … (5 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Friday, July 18, 2008 - 07/18/08 08:51 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
No scheduled economic news reported today. Though Citigroup's surprising report is expected to lift … (2 comments)
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mortgage rates: Bank of Canada Holds Line on Interest Rates - 07/18/08 08:08 AM
The Bank of Canada declined to change its trend setting interest rate (aka "key policy rate" or "overnight rate") on Tuesday July 15. It stands at 3.00% where it has been since April 22.
The Bank says that three major developments are affecting the Canadian economy at this time:
the protracted … (3 comments)
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mortgage rates: Mortgage Rates Spike On Highest Cost Of Living Index Since 1991 - 07/17/08 10:18 PM
Another day, another piece of inflationary data.
June's Consumer Price Index showed a 5 percent year-over-year increase in what is now the largest annual Cost of Living increase for Americans in 17 years.
This is bad news for both home buyers and homeowners in want of a new mortgage because rising … (0 comments)
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mortgage rates: A Not-so-Level Playing Field – Find a Lender who “Sees All” - 07/17/08 06:01 PM
Back in my Wamu days (a tad over a year ago), the playing field for mortgages was pretty level. Washington Mutual had programs for almost every situation, and Wamu rates were about the same as the rates offered by Wells Fargo, Chase, First Horizon, and most loan brokers. I was happy … (0 comments)
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mortgage rates: Market Update 07-17-2008 - 07/17/08 02:03 PM
*Due to server issues this has been delayed. This was originally sent out at 9:10AM PDT. In the time since then we have seen Oil turn back around, and the Market seesaw once again, forcing Mortgage Bonds down much further than at the time this was intended for release.
US … (0 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Thursday, July 17, 2008 - 07/17/08 08:37 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Jobless Claims, housing starts and housing permits all came in better than expected. The … (5 comments)
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mortgage rates: 10 Cities That May Be Signaling That The Worst Of Housing May Already Be Over - 07/16/08 05:36 PM
Last week, Forbes Magazine published a Top 10 list that should grab the attention of housing market bottom-feeders.
The Top 10 list of Increasingly Affordable U.S. Housing Markets shows that falling home prices and steady mortgage rates are providing a support floor in some of the country's most beat-up regions.
The report's … (4 comments)
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mortgage rates: Market Update 07-16-2008 - 07/16/08 02:26 PM
US Stocks are in the midst of a strong rally as the Dow is now up over 200 points on the day. Mortgage Bonds seem to be the one's paying for it, as they are off by more than 50bp so far.
The Stock Market is reacting very positively to … (0 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Wednesday, July 16, 2008 - 07/16/08 08:51 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Consumer Pricing came in at a record high since 1991. Both regular and core … (1 comments)
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mortgage rates: The Positive Spin! - 07/15/08 01:12 PM
There has been a lot of negative press recently since the Government of Canada eliminated a zero down payment 40 year mortgage. But I like to have a positive outlook on life and here are some positive spins on some negative news:
1. Mortgage Rates are still at an all time … (1 comments)
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mortgage rates: Market Update 07-15-2008 - 07/15/08 11:42 AM
US Stocks opened the day down significantly on continued worries over the financial sector, lower than expected retail sales, and heightened inflation concerns. Mortgage Bonds opened the day on the plus side, but have fallen back in the face of strong resistance.
The Dow was down below 10,900 in this mornings trading, but is … (2 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Tuesday, July 15, 2008 - 07/15/08 07:46 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Bonds bounced back up yesterday to the 50 day moving average. This morning the … (0 comments)
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mortgage rates: 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 rates: Housing Market Indicators for the Future - 07/14/08 01:50 PM
Housing MarketNational average mortgage rates increased slightly to 6.37% in the latest Primary Mortgage Market Survey released weekly by Freddie Mac on July 10th. Rates have now posted weekly increases in six out of the past seven weeks. In the week ending July 4th, the MBA's seasonally-adjusted Purchase Index increased to … (1 comments)
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mortgage rates: A great number of news items you need to be aware of. - 07/14/08 01:15 PM
Senate's Housing Bill Faces Hurdles- This bill passed and now goes to conference committee. American Banker (07/14/08) P. 2; Kaper, StacyThe Senate passed a housing bill on July 11 that would establish a new regulator for Fannie Mae and Freddie Mac and allow the FHA to insure mortgages for more than the … (1 comments)
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mortgage rates: Market Update 07-14-08 - 07/14/08 01:12 PM
US Stocks began the day on the uptick, but have since turned sour, mainly on concerns over financials. Mortgage Bonds reacted well to the government actions regarding Fannie, and Freddie, and have made up most of Friday's losses.
Stocks got a big push from government statements of support plans for troubled … (0 comments)
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mortgage rates: Mortgage Rate Tips to Know - 07/14/08 12:02 PM
These are a few of the helpful mortgage rate tips that I'd like to highlight:
Choose a good location
Consider your budget.
Know the market.
Don’t believe everything your real estate agent says.
Don’t try to “time the market.”
Don’t worry too much about the down payment. A down payment is … (0 comments)
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mortgage rates: Interest rates - Texas Veterans - 07/14/08 09:58 AM
The new interest rates for loans through the Texas Veterans Land Board for this week are as follows:
5.75% Base Rate applies to all loans with a term greater than 15 years.
Available Discounts to Base Rate*Discount for loans with a term of 15 years or less: -.25%Qualified Veterans with Disabilities … (1 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Monday, July 14, 2008 - 07/14/08 08:24 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Friday ended up a very bad one for bonds. After climbing nicely through the … (1 comments)
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mortgage rates: The Economic Week In Review....... - 07/14/08 01:32 AM
The big news for the week came late on Friday.
After market close, it was announced, that IndyMac Bank, a leader in “Alt-A” loans, had been seized by the Office of Thrift Supervision, due to a run on deposits. This made IndyMac Bank the 2nd largest federally insured financial … (2 comments)
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mortgage rates: The Crisis of Confidence - 07/13/08 09:03 PM
The Crisis of Confidence....that's probably the best way to describe it.
Friday was a crazy day in the financial markets being headlined by the potential failure of the government sponsors agencies (GSEs), Fannie Mae and Freddie Mac. At the start of Friday it was reported the government could take over these agencies over … (2 comments)
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mortgage rates: Illinois Mortgage Rates - Mortgage Rates Week in Review - 07/13/08 08:24 PM
Welcome to Illinois Mortgage Rates and News week in review for the week ending July 11th, my take on the week's financial news and how it affected Illinois mortgage rates.
Back in March our economy barely dodged a bullet when the Fed engineered a bail out of Wall Street giant Bear … (0 comments)
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mortgage rates: Current Mortgage News - 07/13/08 06:01 PM
So what has been going on in the world of finance and mortgages? Certainly the biggest news was the fall of IndyMac. Last week we heard that IndyMac had stopped giving out new mortgage loans and was going to concentrate on simply servicing the existing loans in its portfolio. Apparently this … (2 comments)
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mortgage rates: Explanations & Expectations for the week of 07/14 to 07/18 - 07/12/08 05:26 PM
Volatility, Chaos, Turmoil? These tend to be the most popular descriptions of Wall Street once again this past week. In a week that featured very little in the way of economic reports to shed light on the realities of our economy, we saw how rumors, and emotions, with a sprinkling of facts, can have a major … (0 comments)
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mortgage rates: California Home Statistics update: - 07/12/08 10:24 AM
According to the C.A.R. statistics, more people can afford to buy a home now than back in the “buying frenzy of 2005! Why are you not buying?
Calif. median home price back May 2005 it was at $522,590.
Today (May 2008), it is at: $384,840
Calif. First-time Buyer Affordability Index … (0 comments)
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mortgage rates: If Mortgage Rates are a Commodity, Does it Matter Who You Get Your Mortgage From? - 07/11/08 09:25 PM
I had breakfast this morning with a Realtor who was having a difficult time with one of her listings. She had a contract on the house and the buyer was pre-approved for the mortgage before they wrote the offer. Everything looked like it was set for a nice smooth transaction. When … (3 comments)
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mortgage rates: New Housing Dynamic - Pt 2 - 07/11/08 11:49 AM
New Housing Dynamic - Pt 2
The first person I would like to address in what I called in my last blog the "New Housing Dynamic", is the home buyer. Without the buyer we have nothing. You can have all of the sellers you want, a million real estate agents, a … (1 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Friday, July 11, 2008 - 07/11/08 09:13 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Yesterday bonds performed admirably by breaking back above the 200 day moving average! Unfortunately, … (2 comments)
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mortgage rates: Today's rates - 07/10/08 03:20 PM
Today's Rates -July 10, 2008 30 Year Fixed 6.125%
5/1 LIBOR ARM 5.250%
30 Year FHA 6.000%
7/1 LIBOR ARM … (0 comments)
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mortgage rates: Market Update 07-10-2008 - 07/10/08 02:07 PM
Once again US Stocks are in a seesaw day without any driving force one way or the other. Mortgage Bonds have traded in a tight range throughout the day very near yesterday's closing number.
Stocks began the day mixed, then turned positive for the majority of the day so far. Official … (2 comments)
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mortgage rates: Mortgage Rates mixed from last week, down from last year - 07/10/08 01:50 PM
According to one of my information programs fixed mortgage rates are down slightly this week over last week while adjustables are up slightly to no change. At the same time, both of them are down substantially from last year at this time.
Continued pressure on the economy may continue to … (1 comments)
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mortgage rates: Mortgage Rates Reverse Trend and Fall - 07/10/08 12:55 PM
News of Moderate Inflationary Pressure Helps Ease Rates
30-year fixed-rate mortgage: Averaged 6.35 percent with an average 0.6 point for the week ending July 3, 2008, down from last week when it averaged 6.45 percent. Last year at this time, the 30-year FRM averaged 6.63 percent.
The 15-year fixed-rate mortgage: … (0 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Thursday, July 10, 2008 - 07/10/08 08:33 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Jobless Claims were reported this morning under what analysts had expected. Oil didn't make … (0 comments)
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mortgage rates: From Kirk Thomas: the Latest Lending News - 07/09/08 12:41 PM
Congress left town for the July 4 recess with a half-baked cake in its legislative oven - one that has huge potential significance for the housing and mortgage markets. The unfinished work is a major relief bill designed to rescue hundreds of thousands of homeowners heading for foreclosure, pull new buyers … (0 comments)
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mortgage rates: Market Update 07-09-2008 - 07/09/08 11:57 AM
US Stocks came out of the gate strong with the Dow up as much as 150 points early, but are now negative. Mortgage Bonds have been positive, building steadily on yesterday's finish.
Wall Street looked to be in a position to post solid gains at the opening, as better than expected earnings … (0 comments)
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mortgage rates: New Housing Dynamic - Pt 1 - 07/09/08 09:19 AM
In the past two weeks we have been flooded with news about mortgages, home ownership, the four keys to our housing market recovery, more foreclosures to come and a ton of other housing related news. Let's take a moment to review some of this news.
Ben Bernanke, Chairman of the Federal … (2 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Wednesday, July 9, 2008 - 07/09/08 07:50 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Still in a slow week for economic reports. Yesterday, the Fed stated they would … (0 comments)
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mortgage rates: Do we need more Interest Rate Cuts to help Housing? - 07/08/08 09:27 PM
When the FED last month , Chairman Bernanke hinted the move to either reduce or in that case remain the same could be the last in a series dating to past -September.
The question on the minds of Wall Street and Main street is , "is this holding steady of … (2 comments)
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mortgage rates: Todays Rates - 07/08/08 02:41 PM
FHA 6.375% with a 1 point cost
Conforming 6.375 + 1/2 point cost
conforming jumbo 6.50% + 1/4 point cost
New portfolio jumbo loans will be out on Monday.
90% combos with HELOC, no longer available...sorry
all rates quoted are for information purposes only pleae email for a current quote … (1 comments)
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mortgage rates: URGENT ADVISE NEEDED!!!!! - 07/08/08 02:20 PM
The vine has the best minds in the market. I have a client (friend) that is closing next week.
Since Big Ben's talk today we have had a couple of favorable rate adjustments.
So here is the question:
DO I LOCK OR FLOAT?
This is not a fancy post filled with … (7 comments)
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mortgage rates: Licensed Oregon Mortgage Brokers - 07/08/08 12:11 PM
In January of 2007, there were more than 13,000 licensed mortgage loan originators in Oregon. As of the Independence Day holiday, that number was down to 6,985 with less than half of them living in Oregon. It appears that the wheat is being separated from the chaff.
I have been working in the … (5 comments)
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mortgage rates: Market Update 07-08-2008 - 07/08/08 11:03 AM
US Stocks are off to a shaky start as they search for direction between the Bulls, and the Bears. Mortgage Bonds have broken through overhead pricing resistance, and are trading above yesterday's high point.
Stocks have made a couple of u-turns already today; initially gaining ground, turning negative on weaker than expected housing reports, … (1 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Tuesday, July 8, 2008 - 07/08/08 07:31 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Since this is a rather slow week in terms of scheduled economic reports, bonds … (0 comments)
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mortgage rates: Market Update 07-07-2008 - 07/07/08 02:01 PM
After beginning the day up by nearly 100 points, the Dow is now leading all 3 indexes significantly lower. Mortgage Bonds responded to the initial Stock rally by losing almost 50bp, but have swung back to initial price levels as Stocks falter.
The US Stock Market took off this morning on … (0 comments)
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mortgage rates: Points: To Pay or Not to Pay - 07/07/08 12:24 PM
Numerous closing costs come with any mortgage. There's a fee for an appraisal and a fee for a credit report... and the lender has its fees, too. And don't forget about the attorney fee, title insurance and escrow charges. Closing costs can vary from state to state and province … (0 comments)
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mortgage rates: Texas Veterans - interest rates - 07/07/08 10:28 AM
The new interest rates for loans through the Texas Veterans Land Board for this week are as follows:
5.93% Base Rate applies to all loans with a term greater than 15 years.
Available Discounts to Base Rate*Discount for loans with a term of 15 years or less: -.25%Qualified Veterans with Disabilities … (0 comments)
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mortgage rates: Points:To pay or not to pay by David Reed - 07/07/08 09:21 AM
Numerous closing costs come with any mortgage. There's a fee for an appraisal and a fee for a credit report... and the lender has its fees, too. And don't forget about the attorney fee, title insurance and escrow charges. Closing costs can vary from state to state and province to province, … (1 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Monday, July 7, 2008 - 07/07/08 08:16 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Since this is a rather slow week in terms of scheduled economic reports, bonds … (1 comments)
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mortgage rates: Mortgage Rates Coming Down - 07/05/08 06:29 PM
Good news home buyers, mortgage rates dropped this week, after five weeks of increases. According to FreddieMac, interest rates on a 30 year mortgage averaged 6.35% last week- down from 6.45% the previous week.
Other mortgages also showed decreases this week. Rates on 15 year fixed rate mortgages and 5 … (6 comments)
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mortgage rates: National Average of Mortgage Rates - 07/03/08 07:27 PM
I never like to give out "average" mortgage rates since there are literally dozens of variables that can effect the rate for an individual's loan. However, I get a minimum of 2 to 3 requests per day from realtors who "need to know" what to tell their client when the subject … (2 comments)
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mortgage rates: Credit Scoring - 07/03/08 11:04 AM
As some of you know besides being a full time real estate agent I also represent a national membership organization that assists consumers with credit improvement and restoration. In doing some research on how credit scores are calculated I found and interesting article from the Electronic Privacy information Center on the … (1 comments)
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mortgage rates: Rates Up and Prices Down - What Does A Buyer Do? - 07/03/08 09:40 AM
Just over three months ago, I wrote a blog article in the Tallahassee Real Estate Blog that examined the relationship between Home Prices and Interest Rates in determining the time to buy a home. It has been the source of numerous comments and debates in several real estate forums on the … (2 comments)
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mortgage rates: Mortgage Intelligence Achieves Early Compliance of New Mortgage Industry Act for Ontario - 07/03/08 08:31 AM
Mortgage Intelligence's consultants now fully compliant with Ontario's new Mortgage Brokerages, Lenders and Administrators Act, 2006 -
June 30, 2008, Toronto, ON - Mortgage Intelligence is pleased to announce that as of June 15, 2008 the organization and its network of 397 independent consultants in Ontario are fully compliant with the Mortgage … (0 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Thursday, July 3, 2008 - 07/03/08 07:44 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Major Reports came out this morning and it looks like "good" news for bonds. … (2 comments)
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mortgage rates: Get FIT with your FICO Score - a brief explanation - 07/02/08 06:35 PM
When you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you've made your payments on time. What you may not expect is that they seem to be more interested in your FICO score.
What is a FICO score? Each time your … (13 comments)
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mortgage rates: Mortgage Interest Rates Continue to Move Up - 07/02/08 02:00 PM
After rising drastically last week fixed mortgage interest rates moved up slightly this week. 30 Year notes moved from 6.42 to 6.45 and 15 Year notes moved from 6.02 to 6.04. ARMS on the other hand rose a decent amount. 5 Year Arms rose from 5.89 to 5.99 while … (2 comments)
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mortgage rates: DON'T WAIT UNTIL SUMMER IS OVER, DECLARE YOUR INDEPENDENCE TODAY - - 07/02/08 01:53 PM
Happy 4th of July everyone!!! I wanted to share a market update that I read yesterday from one of my many lenders... According to the scheduled federal meetings, the emphasis is turning toward inflation as opposed to enonomic stimuli. Apparently, the mortgage rates are going to start seeing an increase in … (2 comments)
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mortgage rates: Market Update 07-02-2008 - 07/02/08 11:36 AM
US stocks began the day building on yesterday's strong finish, but are now down across the board. Mortgage Bonds responded well to lower than expected jobs numbers, but have also retreated.
Stocks were in the black for the first couple hours of trading, despite the ADP employment report showing higher than expected job … (0 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Wednesday, July 2, 2008 - 07/02/08 07:42 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
No major reports due out today (the somewhat followed ADP report showed a sharp … (1 comments)
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mortgage rates: On The Fence Whether To Buy Now? Ask This Simple Question - 07/01/08 05:55 PM
How much is your money going to cost you next year?
Whether the price of the home you are looking to buy goes up or down a little bit, the biggest uncertain factor in today's economy is whether interest rates will continue to hold steady. Interest rates are climbing up, but … (10 comments)
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mortgage rates: FEDS lEAVE RATES UNTOUCHED: Thereby calming the bond market and getting us better rates - 07/01/08 02:32 PM
Rates started to level off from its volatile ups and downs we had in the recent few months since they start cutting rates.
This goes to prove a point again to the public that contrary to the popular believe that when the federal board cuts rates the so will happen to … (1 comments)
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mortgage rates: Market Update 07-01-2008 - 07/01/08 01:06 PM
US Stocks are once again moving lower, and we are now "officially" in a Bear Market (a 20% decline within 12 months). Mortgage Bonds are down after early gains, currently trading at unchanged levels.
Stocks began the day under continued heavy selling pressure, but got a bit of a reprieve when … (0 comments)
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mortgage rates: Oil, markets and pricing - 07/01/08 12:38 PM
The big news in mortgage pricing is oil. Again today, oil topped $143 a barrel and this means that the price of almost everything goes up. When the prices go up, that means inflation. When you have inflation, that means that mortgage rates, that hate inflation, go up.
What can be … (0 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Tuesday, July 1, 2008 - 07/01/08 07:57 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
"New Quarter, old fears" - Headline for CNN/Money screams! Suppose that's better then having … (1 comments)
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mortgage rates: Looking Back And Looking Ahead - 06/30/08 06:22 PM
Looking Back And Looking Ahead : June 30, 2008
Mortgage rates improved last week, marking the first time since mid-May that has happened.
The rate drop is the result of how mortgage markets interpreted the Federal Reserve's Wednesday press release.
In it, the Fed said:
Inflation pressures should lessen soon … (0 comments)
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mortgage rates: Market Update 06-30-2008 - 06/30/08 12:53 PM
US Stocks are struggling once again, but have turned positive at the mid day mark. Mortgage Bonds are still building on last weeks gains after finally breaking above strong resistance trend lines.
After falling to as low as 11,300 in early trading, the Dow is currently in the black. Oil pricing, and … (0 comments)
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mortgage rates: Should I float? Should I lock? - Daily Update for Monday, June 30, 2008 - 06/30/08 08:54 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Oil is up, stock market down - bonds are confused. The Midwest "Business Barometer" … (1 comments)
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mortgage rates: Interest rates - Texas veterans - 06/30/08 08:30 AM
Here are this week's interest rates for Texas veterans eligible for loans from the Texas Veterans Land Board.
Base rate: 5.95%
Discount for 15 year loan or less:<.25%>
Disabilities discount: <.35%>
Service era discount <1.49%>
If you have any questions please send me an email or visit the website shown below.
www.texasveterans.com
… (1 comments)
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