Dan Magstadt's Mortgage Blog

I was motivated to write this after reading Elizabeth Weintraub's post: Shocking News About Countrywide's New Shortsale Demands - It's Below the Belt, Even for CW.  There are going to be strong feelings on both sides of this argument, so let me first put this disclaimer out there: There are most ...

Rates right now are the best I've ever seen them, including the drop in the last couple weeks.  I just quoted a borrower 4.25% for a 30yr fixed loan - They were paying 1.5 points to get this rate, but that is still the best it's been in decades!! I know there's a tendency with many borrowers to s...

Here's some great news that would get home purchase cranking in a hurry! Everybody talks about 4.5% rates & great deals on home prices, but if a borrower hasn't saved up the necessary 3.5% down payment they can't buy a house whether rates are 4.5% or 8.5%! Last October all seller funded down paym...

I'm an eternal optimist & by no means a preacher of doom & gloom. I'm actually usually the one coaxing people out from underneath their desks & encouraging them that they can still be successful in today's real estate market. Having said that, there's no question that the economy has slowed down ...