mortgage acumen: How Will Your Real Estate Business Be Affected by Higher Mortgage Rates
- 01/06/10 10:10 AM
It seems as if everyone has finally come to the consensus that mortgage rates have only one direction in 2010 and that is up. Many will also agree that as mortgage rates continue to rise that home affordability will decline as they are inversely related. What isn't so clear is the relationship between higher mortgage rates and the overall impact on real estate transactions. I was watching CNBC's Diane Olick - Daily Realty Check for an update on Commercial Mortgage Backed Securities early this afternoon. Although the delinquency rates are even more frightening in commercial real estate, the tail end of her update … (5 comments)
mortgage acumen: How Will Higher Mortgage Rates Impact the Housing Recovery
- 12/28/09 11:11 AM
I'm sure you have heard it a thousand times from mortgage professionals such as myself as well as other Realtors. Mortgage rates will rise in 2010. Don't believe me? Did you catch this 5 minute video of Lawrence Yun, the Chief Economist of National Association of Realtors, talking about mortgage rates on CNBC Realty Check today?
Even Lawrence Yun states that no one should expect mortgage rates to stay below 5%. Furthermore, he states that mortgage rates have nowhere to go but up and that higher mortgage rates will be a negative for the housing market. He does surprisingly foresee … (8 comments)
mortgage acumen: Loan Modifications Will Only Exacerbate Housing Troubles
- 12/08/08 01:40 PM
As is the norm, speculation and trigger words often get the headlines in the media outlets. Unless you have been in a bomb shelter, it has been unavoidable to hear all of the debate around a successful loan modification program and/or system to help troubled homeowners. It has been such an important topic that the president-elect has already made public appearances and proclaimed of its importance in the new administration. Not only is it good for America's economy, but also the consumer psychology. The main reason is due to the fact that homeownership had become the back bone of consumer spending … (7 comments)
mortgage acumen: Loan Modifications Will Only Exacerbate Housing Troubles
- 12/08/08 01:32 PM
As is the norm, speculation and trigger words often get the headlines in the media outlets. Unless you have been in a bomb shelter, it has been unavoidable to hear all of the debate around a successful loan modification program and/or system to help troubled homeowners. It has been such an important topic that the president-elect has already made public appearances and proclaimed of its importance in the new administration. Not only is it good for America's economy, but also the consumer psychology. The main reason is due to the fact that homeownership had become the back bone of consumer spending … (8 comments)
mortgage acumen: Time is of the Essence
- 12/02/08 07:42 AM
For real estate agents and attorneys, the phrase “time is of the essence” highlights an unparalleled importance on part of the process that manages the receipt and response to a purchase agreement. Likewise, mortgage professionals also utilize this phrase for emphasizing the critical process of facilitating the loan process within an allotted lock period. Most banks and consumers commit to a 30-day rate lock so as to minimize the risk of escalating interest rates during the loan process. This is especially true with the historic volatility in the mortgage-backed securities market. 30 days would be ample time to process a loan … (1 comments)
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It seems as if everyone has finally come to the consensus that mortgage rates have only one direction in 2010 and that is up. Many will also agree that as mortgage rates continue to rise that home affordability will decline as they are inversely related.
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