Mortgage Markets Ignore Jobs Report And It’s Good News For Mortgage Rates

May 7, 2010

Despite 290,000 jobs created in April 2010 — nearly twice the expected amount — and a 40 percent upward revision of March’s numbers, mortgage rates are essentially unchanged. In a normal environment, rates would be higher. Today is not normal.

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The Fog a Mirror Mortgage Approvals Are Over With

May 6, 2010

The Federal Reserve says that financial markets “remain supportive of economic growth”. Residential mortgage guidelines, however, continue to tighten. If you’ve applied for a home loan recently, you probably felt it; extra scrutiny on income, assets and credit scores, among other things. The hard proof of the changes, however, can be found in the Federal Reserve’s quarterly survey of its member banks.

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Spring is Here and Real Estate is Up!

May 5, 2010

Today’s home buyers should consider making offer sooner rather than later. Looking at the data, it appears the best time to have found a “deal” on a home may have been in February.

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Loan Approvals Are Changing. What Does It Mean For You?

May 4, 2010

For the first time this year, Fannie Mae announced significant updates to its mortgage underwriting guidelines. The changes include newer, harsher ARM qualification standards, the elimination of a once-popular loan product, and tighter rules for interest only mortgages.

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Employment Report Takes Center Stage in Rate Movement This Week

May 3, 2010

When Rates Rise, They Rise Quickly The week starts off with news that Greece reached a $147 billion bail out agreement with the IMF Sunday. This is a plus for the Eurozone and a negative for the mortgage market. Rates should rise on the bailout. Also on Monday, the government releases Personal Consumptions and Expenditures […]

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Mortgage Markets Ended on a High Note in April but May Could Be a Different Story

May 3, 2010

Mortgage markets improved last week on tame inflation data, a benign statement from the Federal Reserve, and ongoing credit problems in Greece. The factors combined to drop conforming mortgage rates to their lowest levels in 6 weeks.

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Home Resales Boom Into The End Of The Tax Credit; Home Values Seen Rising.

April 27, 2010

Existing Home Sales rose in March, as expected. U.S. homebuyers closed on 7 percent more homes as compared to February.

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The Federal Reserve Meets This Week, Rates Will Be Volatile

April 26, 2010

A Week Loaded with Data Ahead This week features lots of stories. Economic data will be at the forefront, as will the Federal Reserve which meets for one of its eight scheduled meetings of the year. Monday : Greece was expected to announce an aid package Tuesday : Case-Shiller Index reports on home values from […]

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World Issues Move Mortgage Rates

April 26, 2010

Mortgage rates rose last week. This week, economic data will be at the forefront, as will the Federal Reserve which meets for one of its 8 scheduled meetings of the year.

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Don’t Leave Tax Credits On The Table (And How To Get Them Back If You Already Filed)

April 7, 2010

Taxes are due April 15 and if you’re among the millions of Americans who wait until the last week to file, watch this video interview. It could help you reduce your federal tax liability.

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