mortgage: Jumbo Mortgage Rates Fall To Record Lows - 12/08/11 03:03 PM
The jumbo 30-year fixed mortgage rate fell to a new historic low of 4.68 percent, according to Bankrate.com’s weekly national research. The average jumbo 30-year fixed mortgage loan has an average of 0.4 discount and origination points.According to Bankrate’s survey, the average conforming 30-year fixed mortgage inched lower to 4.24 percent while the 15-year fixed mortgage held stable at 3.48 percent. Adjustable rate mortgages were generally lower, with the (blank) 5-year ARM dropping to 3.18 percent and the 10-year ARM inching down to 3.8 percent.Mortgage rates are very low, but based on the ultra-low levels of benchmark interest rates such as … (2 comments)

mortgage: Mortgage Rates Fall To 4.27%, The Lowest Point Since 1971 - 10/11/10 04:43 AM
Rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks, pushed down by traders anticipating a move by the Federal Reserve to pump more money into the economy.
The average rate for 30-year fixed loans dropped to 4.27 percent, mortgage buyer Freddie Mac said Thursday. That's the lowest on records dating back to 1971, and down from 4.32 percent the previous week.The average rate on 15-year fixed loans, a popular choice for refinancing, dropped to 3.72 percent from 3.75 percent. That was lowest on records dating back to 1991.
(2 comments)

mortgage: Fannie Mae Seeks $15.3 Billion In Bailout Money - 03/02/10 07:09 AM
Fannie Mae, the country's largest mortgage financier, says it needs another $15.3 billion to tide over the current housing crisis. The company posted a loss of over $ 70 billion in 2009 compared to $ 58.8 billion losses in 2008. Fannie's losses were mainly on account of $11.9 billion in credit expenses, which included bad loans and costs incurred in maintaining foreclosed properties. The company also took a $5 billion write-down on low-income tax-credit investments. About 5.38% of Fannie's single-family loans were more than 90 days delinquent, up from 2.42% a year earlier. Total nonperforming loans of the company were $216.5 … (0 comments)

mortgage: Getting Approved For A Mortgage Is About To Get Harder - 09/29/09 03:18 AM
For the second time in less than 3 months, Fannie Mae announced changes to its mortgage guidelines. 
The updates are meant to reduce the mortgage firm's overall risk.
The first major change is with respect to credit scoring.  All Fannie Mae loans -- whether underwritten electronically or manually -- require a 620 credit score minimum.  There are very few exceptions.
A second change relates to loans with private mortgage insurance.  Homeowners whose loan-to-value exceeds 80 percent now have a choice:
Accept higher mortgage insurance premiums month-after-month Accept a one-time fee paid at closing to compensate for higher risk Both options pass higher costs to … (3 comments)

 
Steve Eckhardt, Tampa, St Pete, and Sarasota Luxury Broker (Cornerstone Properties International) Rainmaker large

Steve Eckhardt

Tampa, St Pete, and Sarasota Luxury Broker

Tampa, FL

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Cornerstone Properties International

Address: 8875 Hidden River Parkway, Suite 300, Tampa, FL, 33637

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Local insight about the Tampa & Sarasota areas, economic conditions that affect the luxury housing market, and unique marketing ideas that help you sell your home. Steve Eckhardt is the Founder, President, & CEO of Cornerstone Properties & Investments. He has been recognized by Who’s Who In Luxury Real Estate and has established himself as one of the area’s preeminent purveyors of luxury homes. His company, Cornerstone Properties & Investments, is a full service luxury boutique firm listing and selling some of the most expensive properties in Greater Tampa Bay and the Sarasota Gulf Coast Regions. His skilled team is committed to providing legendary client service with an unparalleled standard of integrity and expertise. Known for high-profile properties and clients, Steve can provide access to the most exclusive neighborhoods with complete confidentiality. His high regard for client's privacy is what keeps them referring friends and colleagues. We serve the Greater Tampa Bay, Clearwater, St. Petersburg, Sarasota, Siesta Key, and Longboat Key markets.


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