rates: Rate future...scary! - 01/13/09 08:55 AM
Rates are great but not much purchase action mostly refi's. After the refi boom is done what is next...
Just my thoughts here...
The gov't can't keep buying bonds and paper, they run FNMA and FMAC so not only are they buying the paper but they are guaranteeing it.
It seems like they are burning the candle at both ends and the one who will get burnt is you and I.
At some point they will have to turn over control back to the private market and when they do this do you really think the investors will be ok making … (2 comments)

rates: Bail out issue... - 12/03/08 05:27 AM
I was watching a special on WW1last night and it kind of triggered me to think about this whole financial mess were in...I am not an economist but I have definitely been paying attention.  What caught my eye specifically in the special about WW1was the type of economy Germany had after the first war when they were forced to pay6 back reparations to the Allied powers for the cost of the war.  Well the result was Germany did not have the funds so in order to comply they just printed money for the reparations and handed it over the the Allied powers...While … (0 comments)

rates: Historical Chart of 30 yr fixed and Prime Rate going back to 1963 - For all those who think rates are not going up, think again... - 10/29/08 03:16 AM

This chart shows why rates are going to go up and possible where they are headed.  If rates are cyclical then this chart should provide some clarity as to where rates are head in the short term.  The one thing this chart doesn't reflect is that I believe that 30yr rates will start to act on there own away from the prime rate.  In the future the 30 yr rate will not pair itself with the prime rate.  This is due to factors effecting 30 yr rates that do not have a sever and direct effect on the prime rate.  There … (4 comments)

rates: Rates are going up... - 10/27/08 09:32 AM
FHA @ 7% today
30 YR Fixed just priced one out @ 6.75 and the credit was excellent
A little forwarning trying and warm your clients up to the idea that rates are going to get worse and will continue to for some unkown amount of time.  This idea of low rates spurring growth is way to late in the game to make a difference so the long postiton on rates is that once we realize growth will no longer be fueled by low rates, they will begin to rise as the market starts to stabilize the right way...Rewarding risk with return … (7 comments)

rates: Some humor on a day when it may be hard to find some... - 10/07/08 09:04 AM
Look for these mergers/consolidations to occur soon...1. Hale Business Systems, Mary Kay Cosmetics, Fuller Brush, and W. R. Grace Co. will merge and become: Hale, Mary, Fuller, Grace. 2. PolyGram Records, Warner Bros., and Zesta Crackers join forces and become: Poly, Warner Cracker. 3. 3M will merge with Goodyear and become: MMMGood 4. Zippo Manufacturing, Audi Motors, Dofasco, and Dakota Mining will merge and become: ZipAudiDoDa . 5. FedEx is expected to join its competitor, UPS, and become: FedUP. 6. Fairchild Electronics and Honeywell Computers will become: Fairwell Honeychild. 7. Grey Poupon and Docker Pants are expected to become: PouponPants. 8. … (9 comments)

rates: Citi...Letter received from rep - 10/07/08 06:30 AM
Good morning.I have some rather sad news to share today. There is no more accurate was to say it.Later this afternoon you should be receiving some formal communication from CitiMortgage of their intent to dramatically change their way of doing business. This change will eliminate my position and all of the other account executive for the CitiMortgage Wholesale (broker) channel. Citi will be taking the 9,500 brokers it does business with today and reducing that number to the neighborhood of 1,000. They will then support those customers with an inside sales team going forward. I received this news minutes ago and … (3 comments)

rates: FHA the real story... - 10/02/08 09:01 AM
I have received from the HUD office all the item pertaining to condo developments and the guidelines at every possible stage. Whether it is new, existing, annexation, or additional phases different rules apply to the different types. I believe on common misconception realtors have is that once your project is FHA approved that that also means that your Borrower is FHA approved for financing. Which is not the case. The FHA condo approval has two parts. First the Condo development itself must be approved and then each individual borrower must meet the FHA condo requirements. This is a separate set of … (4 comments)

rates: MBOH - 09/30/08 08:11 AM
Montana Board of Housing - A great product to get low income and rural properties sold.  I am taking the training and the program looks to be a great resource for the Montana real estate market.  FNMA is the only GOE that is going to take a MBOH loan.  The rates are historically a bit lower than conventional loans.  I look forward to learning more and if any one else is interested be sure to let me know and I will answer any questions about the program.
… (0 comments)

rates: Spell Checked Version - Sorry forgot to do it... - 09/30/08 05:24 AM
I believe that getting front of the financial crisis will only drag the Federal Government further into the red.  Historically the government is a reactive measure to combat private sector issues when the free market was unable to solve the problem.  I fear that this time we are only stepping out in front of a speeding train that is eventually going to wreck.  Accept this time the Federal Government is a passenger instead of a on looker of the financial tragedy.  The plan can stop the inevitable so just let it happen rather than delay it until the winter or early … (0 comments)

rates: Bailout why act now? - 09/30/08 05:11 AM
I believe that getting front of the financial crisis will only drag the Federal Government further into the red.  Historically the givernemnt is a reactive measure to combat private sector issues when the free market was unable to solve the problem.  I fear that this time we are only stepping out in front of a speeding train that is eventually going to wreck.  Accept this time the Federal Governemnt is a passanger instead of a on looker of the finacial tradgy.  The plan can stop the enevatible so just let it happen rather than dely it until the winter or early … (4 comments)

rates: Just so everybody knows no longer GSE's... - 09/09/08 06:09 AM
The proper name is GOE...This will be the new acronym for the two with them now being Governemnt Owned Entities...
… (0 comments)

rates: Monday...Month end is here... - 07/28/08 04:22 AM
Well the end of the month is upon us...  Hopefully you had a great month.  Rates are holding at the 6.625%, they have been hovering between 6.625% & 6.75% for about a week and a half.  The governemnt has been doing a great job of messing with the housing market and it looks like they still have some mucking around to do... THere latest ploy is to eliminate the Down Payment Assistance programs offered by two companies.  Ecentially if you local programs exsist for DPA you should be fine the two major organizations that will be effected are Niehamia and AmeriDream I … (0 comments)

rates: Why rates are more than likely going to rise in the coming months and why the current trend will continue for at least 5 years... - 07/23/08 03:14 AM
The reason I am posting this article is because it gives good insight into why rates are going to go higher and what really effect an interest rate.  Pay close attention to how the baks set there rate and what it is based off of.(i.e. 10 yr bond sales)  I know there is not one indicator for rates but there will be a trend and the 10 yr makes up a big part of the interest rate trend...

Mortgage Rates Near a Year High
By RUTH SIMON and JAMES R. HAGERTYJuly 23, 2008; Page C14
Home-mortgage rates are nearing their highest levels … (4 comments)

rates: Well folks another rocky day for mortgages... - 07/21/08 08:10 AM
It has been a rough Monday for the mortgage market.  A big wholesaler has just dropped out of the market.  Wachovia has suspended all wholesale operations.  This is another big lender to pack up shop and will have a big effect on mortgage brokers and the market.  I know a few people didn't like my last blog about rates going up but what can I say the truth hurts.  We are about to see a classic supply and demand problem.  If you think gas short up quickly wait until rates follow suit. 
THe real deal is that there is there is … (8 comments)

rates: Rates are going up and no stop in sight... - 07/18/08 05:36 AM
The current 30 year Fixed is at 6.75% and we do not see it staying there very long...  We are expecting a mid day rate change up...  Unfortunatly the system can no longer keep rates down to keep volume up.  With the the credit climate so volitale now would be a great time to urge you borrowers to lock in there rate or get going on a buy/sell because in the coming months rates are going to go up alot.  My personal estimate is that by November rates will be around 7.5%  Have a great weekend and be sure to have … (4 comments)

rates: I am a newbie to this forum... - 07/17/08 04:33 AM
Hello All,
I am here to help with any and all mortgage questions.  Rates have been wild as of late.  Today they are hovering right around 6.375...  We usually can get an indicator of  rate from the 10 year Note but it is been all over the place and the yield is huge so we are finding no help there...  The tow biggest lenders FNMA and FMAC sold 3 billion in bonds to day and it help to rally wall street and push bank stocks up to new highs.  Still a lot of worry in the market and financing new homes is still … (10 comments)