David's Blog

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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 

More positive signals from housing - home values are still on the rise. According to the Federal Housing Finance Agency, after posting its first quarterly increase since 2007 this past September, the Home Price Index rose by another 0.6 percent in October. Prices are up in 4 of the last six mont...
12/30/2009
It's not only the real estate markets that differ from town to town - the Cost of Living does, too. Insurance costs, tax bills and just plain, day-to-day living will dent a household budget differently depending on where that household is.  It can be a nerve-wracking fact for families moving fro...
12/30/2009
Mortgage markets made a 4-day losing streak last week on thin holiday volume and overall economic optimism. It was awful news for rate shoppers in Minnesota because mortgage rates were higher every day last week. The holiday-shortened week marked the third out of 4 during which rates worsened an...
12/30/2009
One day after November's Existing Home Sales report blew away estimates, the Census Bureau's related New Homes Sales report failed to impress. A "new home" is a home that is newly-constructed; not bought as a resale. In a lackluster showing, New Home Sales dropped 11 percent in November, falling...
12/30/2009
Home resales are soaring. For the 4th consecutive month, the Existing Home Sales report revealed what today's buyers and sellers already know - there's a lot of buyer activity right now. Existing Home Sales surged 7-plus percent in November, posting its largest number of recorded sales in 33 mon...
12/30/2009
Mortgage pricing worsened Monday, driving mortgage rates to their highest levels since October. The day's action was drastic, too. Some banks issued as many as 3 rate sheets Monday - each worse than the preceding and one reason why rates got so bad, so quickly, is because this week marks the beg...
12/30/2009
Mortgage markets improved last week as pricing followed a roller coaster-like pattern. After touching a 6-week high Tuesday, rates rallied to weekly lows Thursday, and then jumped back higher Friday. Despite the improvement last week overall, mortgage pricing remains significantly worse from the...
12/21/2009
Housing Starts jumped last month as builders got back to business.  It's a telling sign for the economy, but bad news for next season's sellers. With more homes coming online, home prices may be slow to rise nationwide. A "Housing Start" is a privately-owned home on which construction has starte...
12/21/2009
The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy "has continued to pick up", that the jobs markets is getting better, and that housing market has shown "some signs of imp...
12/21/2009
Fannie Mae raised the bar for mortgage applicants this past weekend.  Getting approved for a home loan just got harder. In its official announcement, Fannie Mae says the updates minimize long-term lending risks.  If that's the case, this won't be the last guideline change Fannie Mae makes -- esp...
12/21/2009
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