A resource for real estate agents with technology, title and mortgage expertise
Last week proved to be an eventful week for mortgage news ending with the pronouncement from Washington that the Obama administration plans to phase out the beleaguered lending giants Fannie Mae and Freddie Mac permanently. What does this mean for buyers? Only time will tell as all the details … [Read more...]
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...]
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...]
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...]
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...]
Bank of America halts foreclosures in all 50 states I was hesitant to discuss this story last week since Colorado wasn’t included in the 23 states initially involved. That changed on Friday when Bank of America became the first bank to halt foreclosures in all 50 states. While JP Morgan … [Read more...]
Mortgage markets improved last week as markets digested a bevy of data from the housing sector, plus the scheduled Federal Open Market Committee meeting. In back-and-forth trading, conforming mortgage rates in Colorado bottomed out Wednesday before rising through Friday's afternoon close. Rates … [Read more...]
Mortgage markets improved last week despite a major mortgage bond sell-off Friday afternoon. Prior to the jump, conforming mortgage rates had cut new, all-time lows by Thursday, only to lose up to 0.250 percent on the last day of the week. Meanwhile, the same type of news that drove rates lower … [Read more...]
Mortgage markets stalled last week in back-and-forth trading as Wall Street grappled with weak housing data, falling builder confidence, and worsening jobs numbers nationwide. Because markets were volatile, rate shopping was challenging. Conforming mortgage rates did manage to make a new … [Read more...]