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ARCHIVED BLOG POSTS

2008 

Mortgage Commentary We have plenty of economic news this week including the Consumer Confidence Index, first quarter's GDP and a Fed meeting. Wednesday should be the biggest mover for rates. Since the market already expects the Fed to cut rates and GDP to show a very small annual increase, any de...
04/28/2008
PLEASE READ: Effective 5/5/2008, one of the largest Private Mortgage Insurance (PMI) companies will no longer provide mortgage insurance for loans with less than a 5% down payment. Look for other companies to follow shortly. This will leave FHA as the only 3% down payment loan around. For the mos...
04/27/2008
Looking Back Mortgage interest rates rose again last week on better than expected earnings reports and decreased expectations as to the size of this week's Fed rate cut. Many now believe that they will only cut the rate by 0.25%, instead of the 0.50% from earlier predictions. New home sales plung...
04/27/2008
Current home price trends indicate that home values continue to decline in many markets across the country, including eastern Massachusetts, Cape Cod and the Islands.  What does this mean?When a property is located in an area that has been identified as in a declining market, Fannie Mae (FNAM) re...
04/23/2008
Mortgage Commentary Rates kept their slight upward trend last week.  We don't expect any improvement this week either.  With inflation concerns growing and oil prices skyrocketing, investors will demand more for their money in the near-term, which means higher rates.  Don't expect significant rel...
04/21/2008
PLEASE NOTE: Effective 5/5/2008, one of the largest Private Mortgage Insurance (PMI) companies will no longer provide mortgage insurance for loans with less than a 5% down payment. Look for other companies to follow shortly. This will leave FHA as the only 3% down payment loan around. For the mos...
04/20/2008
Current Rates*: 30 Year Fixed - 6.0% with Zero Points Jumbo 30 Year Fixed - 7.625% with Zero Points 15 Year Fixed - 5.625% with Zero Points FHA / VA 30 Year Fixed - 5.875% with Zero Points*Rates and fees accurate as of 4/11/08. Rates and fees subject to change without notice.  This is not an adve...
04/18/2008
Mortgage Commentary We saw rates come down slightly last week, leaving the door open to lock in a good rate this week.  Much remains to be seen however, as this week brings us several relevant market reports as well as the start of the earnings announcements.  We will likely see swings back up in...
04/14/2008
Current Rates: 30 Year Fixed - 6.0% with Zero PointsJumbo 30 Year Fixed - 7.625% with Zero Points15 Year Fixed - 5.625% with Zero PointsFHA / VA 30 Year Fixed - 5.875% with Zero PointsPlease keep in mind that the quotes above are generalized. For specific quotes or to hear quotes on a variety of ...
04/13/2008
Mortgage Commentary Rates remained fairly steady last week.  We hope, as many analysts do, that they remain steady this week as well.  However, since rates are on shaky ground, any negative news could push them higher in a flash.  This week brings us the release of only two relevant economic repo...
04/07/2008
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LewCorcoran, ASP®

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