rates: Ready... Set... LOCK! - 01/24/08 01:36 PM
We have seen mortgage rates drop over the past few weeks. They are at unbeliveable lows. As a matter of fact, they dropped like a rock the other day... Some of the rates I quoted and locked for people were numbers I have not seen in a long time.
But yesterday was a Roller Coaster day. Mortgage rates began the day falling again, but by the time the day was up, mortgage rates were up by at least 3/8ths of a percent, and in some cases by 1/2 a percentage point. In other words, that 5.5% rate became 6% by the end … (5 comments)

rates: Inside the Money 12/19/07 - 12/19/07 09:22 AM
Last week I was unable to publish my weekly update on the mortgage industry. For those of you that enjoy the updates, I do apologize! With the holidays here, please understand that the next couple weeks will be hectic and I will try to publish as much as I can.
Rates
Over the past 2 weeks, Charlotte mortgage rates have remained fairly flat. We have seen minor adjustments, but overall rates have stayed within 1/8th of the rates from a month ago. Over the next few weeks I anticipate rates to remain flat for the most part, however there is a trend that … (2 comments)

rates: Did I miss something? - 12/18/07 12:23 PM
I feel like I missed something and that's not a good thing.
Last I knew the bad bill that we all feared had been modified to remove the wording that would eliminate YSP. Yet I get this email alert from NAMB stating that we need to oppose this bill from Sen. Dodd because it will eliminate YSP.
Did this get slipped back in?
(2 comments)

rates: Inside the Money 12/05/07 - 12/05/07 02:04 PM
This week, Inside the Money:
Rates drop slightly
Mortgage rates for Charlotte and the local area dropped slightly to the lower 6% range over the past week. Rates are still fluctuating from day to day, usually about 1/8 a point at a time. This is good news as buyers look to cash in on a great buyers market in Charlotte!
Option One closes
Unfortunately, another mortgage lender has decided to close its doors. Option One Mortgage, a division of HSBC issued an email today stating that they had decided to closed their doors and would not accept any more applications. It has been a while since a … (2 comments)

rates: Inside the Money 11/28/2007 (Pineville Edition) - 11/28/07 02:40 AM
This week, Inside the Money:
Rates fluctuate, but remain steady
Mortgage rates for Pineville and the local area remained steady in the lower 6% range over the past week. Rates are still fluctuating from day to day, usually about 1/8 a point at a time. This is good news as buyers look to cash in on a great buyers market in Pineville!
Media still Focused on Negative "news"
While the national news is still focused on mortgage failings across the country, good news came out of the Charlotte area real estate market. Home prices are holding and foreclosures are not as bad as it seems. … (0 comments)

rates: Inside the Money 11/28/2007 - 11/28/07 02:33 AM
This week, Inside the Money:
Rates fluctuate, but remain steady
Mortgage rates for Charlotteand the local area remained steady in the lower 6% range over the past week. Rates are still fluctuating from day to day, usually about 1/8 a point at a time. This is good news as buyers look to cash in on a great buyers market in Charlotte!
Media still Focused on Negative "news"
While the national news is still focused on mortgage failings across the country, good news came out of the Charlotte area real estate market. Home prices are holding and foreclosures are not as bad as it seems. According … (0 comments)

rates: Inside the Money 11/21/07 - 11/21/07 12:57 AM
This week Inside the Money:
Freddie Mac announces Higher Costs for Mortgages
Freddie Mac announced that beginning March of 2008, it will impose "delivery fees" to lenders that write loans with credit scores below 680 and with loan to values over 70%. The fees will range from 0.75% to 2% of the loan amount on a sliding scale of credit score ranges. No word yet as to the ability to "roll" these fees into closing costs, or if the lender itself will just charge a higher rate to provide greater yeild to pay this fee. We will see as we get closer.
Rates remained … (5 comments)

rates: Inside the Money 11/15/07 - 11/15/07 05:06 AM
As many people have heard, Bank of America has decided to exit the wholesale marketplace to pursue a stronger retail presence in the mortgage industry. This is not considered to be a major blow to wholesale. While BOA is a big name bank, their presence in the wholesale market was very small. Many of the brokers I know and have spoken to that were signed up with BOA rarely used them because they were finding better rates with other lenders!
Regardless of that, the mortgage industry is still plugging along strong. While news media and the internet continue to pour out their … (0 comments)

rates: YSP... What's the big deal? - 10/31/07 12:59 PM
Personally, I am confused as to why YSP is such a hot issue. When I walk into a local bank, they post a rate and tell me how much that rate will cost me in fees and points. When you talk to a mortgage broker, you are also told how much it will cost you in fees and points. As a borrower you have a choice. You can shop 100 lenders yourself, negotiate all the terms and hope that by the time you have done so you can still get that rate at the before promised fees and points, and  without being … (20 comments)

 
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CarolinaMortgageConnection.comDedicated to educating, inspiring and assisting in the American Dream. Information to assist you through the hundreds of mortgage loans available today. Visit my other blogs at CarolinaMortgageConnection.com Charlotte Homes and Mortgages The articles, reviews and stories written and published on this website are simply the opinions of Ed Nailor. While Ed Nailor has professional experience as a mortgage loan officer, the information posted on this website should not be taken as personal counsel or an endorsement of anything. For mortgage related counsel or advice to be meaningful and effective, one must sit down one on one with a professional to discuss the particulars of their situation. Ed Nailor can not be held liable for any decisions you make as a result of what you might read or infer on this website. Proud supporter of the Right to Free Speech.


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