Good Economic News Means Bad News For Mortgages

September 8, 2009

Rates Worsen Much Faster Than They Improve This week, there isn’t much news, but there are some stories to keep an eye on: The Fed’s regional economic summary releases Wednesday. Strength should drive rates up. Weakness should lower them. Gas prices are easing, a positive for the economy (and negative for rates) as the Holiday […]

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Mortgage Rates Remain Unpredictable

September 8, 2009

Rates Touched an 8 Week Low Mortgage markets improved slightly last week overall, but closed out the week much worse from the best levels of the week. On Wednesday, briefly, mortgage rates touched an 8-week low.  Following that, mortgage rates began to climb and stayed on an upward trajectory clear through Friday’s closing. Rate shoppers suffered, […]

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Expect Rate Volatility the Day Before Labor Day Weekend

September 4, 2009

Rates & Monthly Mortgage Payments Go Hand In Hand Volume figures to be light on Wall Street today as traders get a head start on Labor Day weekend.  It could make shopping for a mortgage a bona fide challenge. Expect rate volatility this morning and afternoon and, therefore, by extension, expect wild swings in the […]

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Time to Buy-Prices Expected to Rise

September 2, 2009

Multiple Offers! In what’s becoming a regular occurrence, housing data blew away economists expectations Tuesday. As reported by the National Association of Realtors®, the Pending Home Sales Index posted its 6th consecutive monthly gain in July. After a meteoric rise that started in January, the index is now at its highest levels in more than […]

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Good News On Economic Recovery Front

September 1, 2009

Americans Becoming More Confident In a bit of good news for the economy, Consumer Sentiment fell to 4-month lows in August.  The drop wasn’t “good news”, per se, but because it wasn’t nearly as large as economists expected, Wall Street cheered it.  The index, jointly published by the University of Michigan and Reuters, measures how Americans […]

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Rates Finish Unchanged For 2nd Straight Week

August 31, 2009

Volatility Doesn’t Always Mean Change In Rates Mortgage markets were flat last week overall, although mortgage rates were somewhat volatile from day-to-day. For rate shoppers, the best pricing was available Monday morning and Friday afternoon — everything in between was slightly elevated.It’s the second consecutive week in which rates finished unchanged. Lots Of Good News There […]

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WHO-TV Discusses Mortgage Guideline Changes

August 30, 2009

It’s Going To Get a Little More Difficult to Get a Loan Dan Winters of WHO-TV asks, “What Should a Home Buyer Be Doing To Secure Their Loan Approval?”. On Saturday, we sat down and talked about the upcoming changes from Fannie Mae, specifically, the guidelines that take effect on Tuesday, September 1, 2009. Take […]

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New Mortgage Guidelines to Make Debut September 1

August 28, 2009

Fraud’s the Motivation As a reminder, Fannie Mae is rolling out new lending guidelines Tuesday, September 1, 2009.  Starting next week, being approved for a home loan could be much more difficult. The new rules mark the first major underwriting update since April of this year.  The changes are mostly geared at fraud prevention. Some Key […]

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The Rules of Supply and Demand Are Alive and True

August 27, 2009

Confidence Is Increasing It’s no wonder that builder confidence is soaring — their inventory of homes for sale is depleting at a furious pace.  For the 4th straight month, New Home Sales gained, posting the best numbers since last September’s meltdown and handily beating economist expectations. The available supply of homes is down to 7.5 months nationwide. […]

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Real Estate Prices Finally Rising Around The US

August 26, 2009

Numbers Point Towards a Recovery 18 of 20 markets tracked by the Case-Shiller Index showed rising home values in June.  It’s the 5th consecutive month with strong numbers and the best showing for the benchmark housing index since home values began deflating in 2006.  Some would argue it’s a sign that housing has finally bottomed out. Even […]

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