The Week Ahead - How about some good news for a change--the economy may be improving! Last Friday's Jobs Report didn't meet the expectations set, but the prior month's readings did show more job growth than previously reported. For us in the mortgage and housing world, this is good news on … [Read more...]
Will Mortgage Rates Move Lower in 2011
January 3, 2011 By
As we enter 2011, we all eagerly await to see what the year holds for the mortgage market. The last two months of 2010 proved to be very volatile for interest rates making it somewhat difficult to get a sense of where rates are headed in 2011 - especially with all the noise and confusion in the … [Read more...]
Important Fannie Mae Updates for 2011
December 27, 2010 By
Fannie Mae has made four major updates to their guidelines and all except one go into effect in 2011. There have been a considerable amount of changes this year and these are no less important. In fact, this update is so massive, Fannie Mae has issued answers to your Frequently Asked Questions. … [Read more...]
Merry Christmas from the Mortgage Markets
December 20, 2010 By
John Lennon could have sang this song with the mortgage markets in mind (albeit that might be a tiny bit boring)..."So this is Christmas and what have you done. Another year over. And a new one just (about to begin.)" So what will next year hold for us in the mortgage markets? 2010 has … [Read more...]
VA & FHA Loan Limits Released for 2011
December 13, 2010 By
Mortgage markets continued to take a beating last week pushing interest rates to new highs. The stock market on the other hand seems to be in “Santa Claus” rally mode and could offer a nice Christmas treat to investors. Unfortunately, this always comes at the expense of the bond market and … [Read more...]
The Good, The Bad & The Ugly Mortgage Market
December 6, 2010 By
As Forrest Gump so aptly stated…”Life is like a box of chocolates. You never know what you’re gonna get!” The same holds true for mortgage markets as they once again battered their way through the week. So what drove rates higher last week? The November jobs number came in at … [Read more...]
Giving Thanks for Low Rates
November 29, 2010 By
I hope you and yours had a Happy and Healthy Thanksgiving. While last week was short due to the Holiday, we’ve seen plenty of activity in the markets and a steep rise in rates that we haven’t seen in weeks. The Fed "Meeting Minutes" were released last week, and we heard something very … [Read more...]
USDA Is Back In Business!
November 22, 2010 By
On November 1, 2010 USDA Rural Development announced that funding for the Single Family Housing Guaranteed Loan Program is now available for fiscal year 2011, under a Continuing Resolution. The great news is this means it’s back to business as usual….RD Conditional Commitments (RD Form 1980-18) … [Read more...]
Freddie Gets Tough While FHA Keeps Singing the Tune of Change
November 15, 2010 By
Freddie Mac Gets Tough on Rules When Buying A New Primary Residence – If you’re working with current homeowners purchasing a new primary residence, you need to pay attention to these changes! If the buyer has a home that they’ll be retaining: They must qualify with both monthly … [Read more...]
80% of People Say Now Is The Time to Buy!
November 8, 2010 By
According to the National Association of Realtors, 8 out of 10 people say now is the time to buy. This means that despite the barrage of bad news about the economy every time you turn on the TV, Americans are still optimistic about the housing market. So the question has to be asked - with … [Read more...]