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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

2011 

Today, the Federal Open Market Committee voted 10-to-0 to leave the Fed Funds Rate unchanged within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that since December's meeting, economic growth is ongoing, but at a pace deemed "insufficient" to make a material impac...
01/26/2011
Home values were reported unchanged in November 2010, on average, according to the Federal Home Finance Agency's Home Price Index.  We say "on average" because the government's Home Price Index is a data composite for the country. The index doesn't measure citywide changes in places like Maple Gr...
01/26/2011
The Federal Open Market Committee begins a 2-day meeting today in Washington D.C. It's the group's first meeting of 2011 - one of 8 scheduled for the year. The Fed meets every 45 days, on average. Its last meeting was December 14, 2010. Rate shoppers and home buyers should make a note. Mortgage r...
01/26/2011
Mortgage markets worsened last week in a holiday-shortened trading week. As the body of U.S. economic data continues to show slow, steady improvement, Wall Street is becoming a net-seller of mortgage-backed bonds. As a result, conforming mortgages rates in Minnesota are rising. This is why confor...
01/26/2011
Existing Home Sales surged 12 percent last month, closing 2010′s housing market with strength. An "existing home" is a home that cannot be categorized as new construction; a resale. According to the National Association of REALTORS®, seasonally-adjusted, annualized Existing Home Sales figures cli...
01/26/2011
Each month, in conjunction with the Department of Housing and Urban Development, the Census Bureau releases its New Residential Construction report. The report is comprised of several sections, one of which counts the number of homes that have "broken ground" in Wisconsin and nationwide. They're...
01/26/2011
Fire & Ice Family Event Date: 2/5/2011 2:00 PM - 7:00 PM Cost: Free Location: Parkers Lake ParkCo Rd 6 & Niagara LnPlymouth, Minnesota 55447 Fire & Ice:  22nd Annual Winter Celebration Activies for all ages (times of activities will vary): Hayrides, horse rides and sled dog rides, recycle bin rac...
01/19/2011
Homebuilder confidence held firm for the second straight month this month, according to the National Association of Home Builders. The monthly Housing Market Index registered 16 out of a possible 100. January's reading is three points higher than the 2010 low-point, set in September, and in-line ...
01/19/2011
Mortgage markets worsened last week on a turn-around in sentiment across the Eurozone. The sort of "safe haven" buying that had buoyed mortgage bonds since the New Year dissipated, and mortgage rates resumed climbing. Last week marked the first week since the end of 2010 that mortgage rates have ...
01/18/2011
According to foreclosure-tracking firm RealtyTrac, the number of foreclosure filings nationwide dropped for the second straight month in December. After falling 21 percent in November, filings were down by an additional 2 percent in December. "Foreclosure filing" is a catch-all term, comprising d...
01/18/2011
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