David's Blog

Follow me
By
Mortgage and Lending - Bay Equity - Bay Equity NMLS #76988
My blog will try to provide you insights into mortgage lending, my prospectives into the real estate market and general information. I provide this based upon my 39+ years in the real estate, building and now for the past 23 years the mortgage industry.

ARCHIVED BLOG POSTS

2009 

Getting approved for a mortgage is about to get harder.  For the second time in less than 3 months, Fannie Mae announced changes to its mortgage guidelines.  In its official announcement, Fannie Mae details the updates, meant to reduce the mortgage firm's overall risk. The first major change is ...
09/29/2009
The mortgage market resumed its winning streak last week after a 1-week hiatus.  Markets rallied into the weekend and mortgage rates eased lower overall. It's the third week out of four that rates improved and, ironically, rates may have dropped last week because traders were watching the wrong m...
09/29/2009
As reported by the National Association of REALTORS®, the number of Existing Home Sales dipped last month, ending the metric's 5-month winning streak. Newspaper headlines today are overwhelmingly negative on housing. You'd almost believe this year's housing recovery had ended.  That's hardly the...
09/29/2009
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. It also reiterated plans to support the mortgage market to the tune of $1.5 trillion. In its press release, the FOMC noted that the U.S. economy is "picking up following its severe...
09/29/2009
As reported by the government, home prices are rising nationwide, up 0.3 percent in July. Furthermore, versus November 2008, the Home Price Index has clawed back to unchanged. The housing market appears to be holding its own. However, we have to be careful about putting our full faith in the Fed...
09/29/2009
Stocks were falling this afternoon after a disappointing report on existing-home sales came out this morning. Existing-home sales fell in August for the first time in five months, the National Association of Realtors reported this morning.  Sales fell 2.7% in August to a seasonally adjusted annu...
09/24/2009
The Federal Open Market Committee starts a 2-day meeting today in Washington.  The scheduled get-together ends at 2:15 PM ET Wednesday after which the FOMC will issue a press release to the markets. Consider locking your mortgage in advance of the press release.  The FOMC meets 8 times annually a...
09/22/2009
After improving in the two prior weeks, mortgage markets finished last week unchanged overall.  Mortgage rates were down early in the week but managed to give up all of their gains late-Friday afternoon.  It's the same volatility variety we've seen in most weeks this year.  Markets moved on to b...
09/22/2009
Housing Starts on single-family homes took a step backwards last month, falling month-over-month for the first time since January. A "housing start" is new home on which construction has started. Don't let the slowdown fool you, however -- the housing market's recovery is still very much underwa...
09/22/2009
According to home builders around the country, the housing market is looking good. Each month, the National Association of Home Builders releases its Housing Market Index report, a survey meant to "take the pulse of the single-family housing market". Respondents report on three facets of their b...
09/22/2009
Rainmaker
247,859

David Kosmecki

Ask me a question
*
*
*
*
Spam prevention