Dan Magstadt's Mortgage Blog

Mortgage and Lending - Paramount Residential Mortgage Group, Inc - NMLS# 262906
Mortgage blog written by Dan Magstadt to help give some insight into the mortgage market as well as let everyone know what's going on at CrossCountry Mortgage & my personal life!
Based on all economic indicators interest rates will HAVE to start moving upward in the relatively near future. In the recent months/years there have been several factors that have kept interest rates low: Starting on 2001 after the Sept 11 slowdown the Fed started cutting interest rates which br...
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 ...
The following rules MUST be followed when posting to your blog:   1. Verbs HAS to agree with their subjects. 2. Prepositions are not words to end sentences with. 3. And don't start a sentence with a conjunction. 4. It is wrong to ever split an infinitive. 5. Avoid cliches like the plague. (They'r...
It seems like it was just a couple days ago that I was telling everyone to enjoy their Thanksgiving & here we are at Christmas already!! This year seemed to fly by, but hopefully everyone can take a few minutes this holiday season to reflect on this great year & plan for a wonderful 2009. Yes, it...
Earlier this year HUD changed its rules on the minimum amount a borrower needs to bring to closing. Previously there was a 3% contribution required & there was a loophole where the DP could be reduced to 2.25% for borrowers that were paying at least .75% of their closing costs (Thereby equaling a...
I know this is driving them crazy - They scheme, have their emergency meetings, & make significant cuts, but no matter how hard they try OPEC can't control the oil market. Today they slashed 2.2 million barrels from production & what happens?? Oil drops $5 per barrel. When they made the cut OPEC ...
This picture was taken on a recent trip to the Tetons…that is one of the prettiest areas in the country, bar none. Please contact Dan Magstadt w/ Meridian Financial at 386-754-8500 or dan@meridianFL.net for all your home purchase or refinance needs. Guaranteed best rates & lowest closing costs a...


Contact The Author
Mortgage blog written by Dan Magstadt to help give some insight into the mortgage market as well as let everyone know what's going on at Meridian Financial & my personal life!