So, you (like everyone else) want to know what mortgage rates are going to do this week.  I’m here to help.
Have you ever asked a loan officer if they know what the mortgage market is doing and they respond with:

“Well, if I only had a crystal ball.. I’d be able to forecast exactly what they’ll […]

Rumors?.. Maybe. 
Housing and Urban Department (HUD) Secretary Alphonso Jackson is expected to resign on Monday.  The reasons of why he will be resigning have not been released.  This resignation is expected to create difficulties with the Bush Administration’s attempts at correcting the mortgage market concerns (understatement?).
The Wall Street Journal said:

“The news is a setback for […]

Numbers are always extremely important to consider when buying, selling and financing a home.  Each week, I receive a weekly market watch update providing the breakdown of the activity from last week.  The report is provided by Heather Barglof at Peoples Company. As I continue to get them, I will continue to post them (with […]

This morning, The Office of Federal Housing Enterprise Oversight (OFHEO) announced it’s reducing Fannie Mae (FNM) and Freddie Mac’s (FRE) 30% capital surplus requirement to 20%.  Basically, they don’t have to have as much money in reserves, so they’ll be able to buy up some more mortgages and mortgage-backed securities.
By OFHEO making this ’small’ change, […]

Surprise!  That’s what I said when I read over the weekend that J.P. Morgan announced they would buy Bear Stearns for $2 a share.  Yes, that’s not a typo.. $2 a Share.  The total deal is worth 236.2 Million.
One thing I must bring up, is an experience I personally had with Bear Stearn’s about 12 […]

In a surprise move, this afternoon (Sunday afternoon)… The Fed announced two changes to the discount rate.  The first change, the most surprising one - was an expansion of it’s lending to securities dealers for up to six months.  The securities will join the banks that the Fed worked directly with before.
The second part of […]

Numbers are always extremely important to consider when buying, selling and financing a home.  Each week, I receive a weekly market watch update providing the breakdown of the activity from last week.  The report is provided by Heather Barglof at Peoples Company. As I continue to get them, I will continue to post them (with […]

Once again, there is some re-pricing of risk going on.  If you have recently applied for a loan, you may notice that you’re rate is higher than the ‘going rate’ you’re seeing in less than honest ad’s.  Fannie Mae has made the decision to increase the rates on what they consider higher risk loans.  As […]

Just as we don’t get one national forecast for weather, we also shouldn’t get a national forecast for real estate. Too often, Iowans get caught up in the national numbers and with the declines in property values on the coasts.  If you take a closer look, you’ll realize our market really isn’t in the recession […]

If you haven’t heard yet, there have been some BIG changes at the private mortgage insurance companies.  Since PMI companies are the real risk takers when financing over 80%, they’ve decided to really tighten up their guidelines in the past two months.
Whether you’re a borrower looking for answers, or an originator trying to make something […]