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Mortgage and Lending - American Pacific Mortgage - Corporate NMLS 1850
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 

Another month, another piece of evidence that the housing market is in recovery. Existing Home Sales surged in October as the nation's homebuyers took advantage of low mortgage rates, low list prices, and, for some, a generous tax credit. Home resales are 23 percent higher versus a year ago and ...
11/24/2009
Mortgage markets worsened last week on a mixed bag of economic data.  Inflation data came in soft, but so did the start of the holiday shopping season. For the first time in a month, mortgage rates worsened last week, adding roughly 0.125 percent on conforming fixed-rate products, and a little b...
11/24/2009
For today's home buyers and homeowners that can manage the higher monthly payments, 15-year fixed rate mortgage rates look attractive as compared to comparable 30-year products. The 15-year/30-year interest rate spread is near its 5-year high. Despite lower rates, however, homeowners opting for ...
11/24/2009
A "Housing Start" is a home on which construction has started and, for the 4th straight month, national single-family housing starts held steady last month.  When the demand for homes grows faster than the number of homes for sale, prices increase.  As recent home sales data confirms, buyers cur...
11/24/2009
A conforming mortgage is one that, quite literally, conforms to the mortgage guidelines set forth by Fannie Mae or Freddie Mac. Each year, the government sets the maximum allowable loan size for a conforming mortgage, based on "typical" housing costs nationwide.  Loans in excess of this amount a...
11/24/2009
APR is an acronym for Annual Percentage Rate. It's a government-mandated calculation meant to simplify the comparison of mortgage options. A loan's APR can always be found in the top-left corner of the Federal Truth-In-Lending Disclosure. Because APR is expressed as a percentage, many people conf...
11/24/2009
Mortgage markets improved last week as foreign buyers of mortgage debt helped to push mortgage rates to a 4-week low. It marked the 3rd consecutive week that rates improved, breathing extra life into this year's ongoing Refi Boom. Fixed-rate, conforming mortgage rates fell about 0.125 percent on...
11/24/2009
For the eighth straight consecutive month, national foreclosure activity in the U.S. was dominated by a small set of states. As reported by RealtyTrac.com, more than half of October's foreclosure-related activity came from just 4 states: California Florida Illinois Michigan The remaining Top 10 ...
11/24/2009
Despite the economy's improvement and prodding from Congress, banks don't seem ready to open their purse strings just yet. Nationally, mortgage approval standards are tightening. The data comes from a quarterly survey the Federal Reserve sends to its member banks.  The Fed asks senior bank loan ...
11/24/2009
Consider this a last call for FHA Streamline Refinances. Starting next Tuesday, the popular rate-lowering program gets strict on borrowers. There's 5 days left. Under the current streamline refi guidelines, FHA homeowners have minimal program eligibility requirements. FICO scores must be 620 or ...
11/24/2009
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David Kosmecki

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