Bob's Coto Blog

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 ...

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 ...

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 Fede...

According to the country's home builders, the housing market is looking good. Each month, the National Association of Home Builders releases its Housing Market Index report, a survey geared at taking "the pulse of the single-family housing market". Respondents report on three facets of their busi...

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...

On the 1-year anniversary of the Lehman Brothers collapse, Fed Chairman Ben Bernanke said last Tuesday that the "recession is very likely over at this point".   His comments were supported by a Retail Sales report for August that was much better-than-expected. Equities improved on the day, mortga...

As downpayment requirements increase, anecdotally, home buyers are tapping 401(k) plans for extra cash. Classified as a "hardship withdrawal", loans against your retirement funds can be cheap and simple. There's no credit check or approval process There's only a small set of paperwork Money can b...

Since 2007, mortgage lenders have clamped down in many areas of underwriting, but none more so than in the area of credit scoring. Minimum FICO levels are up 120 points or more and conforming mortgage lenders now levy large fees on borrowers whose scores are below 740. Keeping your credit scores ...

Volume figures to be light on Wall Street today as traders get a head start on Labor Day weekend.  It could make shopping for a mortgage a bona fide challenge. Expect rate volatility this morning and afternoon and, therefore, by extension, expect wild swings in the Home Affordability Index. As mo...

There are two ways to boost your personal cash flow -- increase your income or reduce your spending. The former can be a challenge but the latter doesn't have to be.  The headline of the above video -- "Cut Your Spending By $500 Per Month" -- is somewhat sensational but the advice given during t...