Matthew Schultz's (mschultz) Blog

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Mortgage and Lending - RPM Mortgage
RECENT BLOG POSTS
We have enjoyed rates that have dipped into the 4's for most of the Spring market and we saw these low rates kick starting the housing market.  These low rates were due in large part to the efforts on the part of the Federal Reserve to keep mortgage rates low.  They pledged over a Trillion dollar...
06/17/2009
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Big news!  The Fed stepped in with a massive announcement to pledge another 1.15 Trillion dollars to buy debt with 750 Billion of that going towards mortgaged backed securities and 300 billion going toward treasuries.  This historic announcement had an immediate and substantial impact on the cred...
03/19/2009
Unfortunately with everything the new administration did last week very little if any of it was aimed at bringing mortgage rates down.  The stock market was not impressed with what has been put forth so far.  We are in a waiting game to see if the markets either fall far enough and there is enoug...
02/23/2009
Mortgage backed securities have been trading in a range since mid December.  The chart below shows the movement since the end of October.  Remember as bond prices go up rates go down.  The high end of the range is about 4.75% with 0 points and the low end of the range is about 5.25% and 0 points....
01/28/2009
Mortgage Rates are hovering around 5% right now.  There was a brief dip to 4.75% about two weeks ago.  We will probably need to see some further government intervention to move rates solidly down into the 4's.  I do expect this to happen since the motivation for pushing rates lower is to help sta...
01/02/2009
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Today is a very special day in our mortgage market.  Due to the 800 billion dollar government boost package recently delivered, we've seen a tremendous DECREASE in interest rates making this a golden opportunity for homeowners and homebuyers to get their interest rate locked in as soon as possibl...
12/30/2008
It was an extremely volatile last week including today for rate refinances and purchase locks. Rates are back on the rise and the high 4's or low 5's that we were seeing are not possible today.  Let's hope that rates drop again soon.  30 year fixed rates 5.25 with 1% loan discount fee.
12/22/2008
This is a quick update on how the mortgage markets are reacting to Tuesday's announcement by the Fed.  The bond market soared on news of the future direction of the Fed to bring mortgage rates down and support consumer and commercial credit markets if necessary.  We saw the conforming 30 year fix...
12/18/2008
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It looks as though serious measures are finally being taken to help out the housing industry.  I have been saying since January that the economy will not recover until housing stabilizes.  I hope they are not too late.  Last week Treasury Secretary Paulson and Fed Chairman Bernanke gave testimony...
12/18/2008
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I'm looking for a realtor that is familar with Highlands NJ. I have an approved buildable lot at 25 Prospect Street In Highlands NJ. At your request I can provide surveys and plans. This property will be sold under market value. Please contact me ONLY if you have a qualified builder or buyer. Bes...
12/18/2008
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