New Bill Might Save Down Payment Assistance – Bill H.R. 6694

August 3, 2008

FHA Seller Financed Downpayment Reform and Risk Based Pricing Authorization Act of 2008 This new bill was proposed on August 1st.  It is a new bill might bring life back to down payment assistance and non-profit companies such as Nehemiah and Ameridream. The bill is H.R. 6694 and currently looks like the only hope to keep […]

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Mortgage Market and Rate Watch – Week of August 4th

August 3, 2008

Mortgage Market and Rate Watch For Week of August 4th, 2008 What To Watch This Week? The Fed meeting is this week!  Nobody really sees the Fed making any move to cut or hike to the fed funds rate.  The big news will be what they say. Inflation is the big concern.  I guess we’ll […]

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Mortgage Market and Rate Recap – Week of July 29th

August 3, 2008

Mortgage Rate and Market Recap for the Week of July 29th – August 3rd, 2008 Employment Brings Concerns This last week had a ton of economic information.  The week kicked off with President Bush singing the Housing Bill on Monday.  This in itself helped jump start the week.  Overall, economic news was weak – but […]

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New Bill Impacts Capital Gains Exclusion

August 1, 2008

So, you remember that rule that capital gains exclusion rule that has become pretty much common knowledge? Go ahead and get ready to change it. The rule where if you sell a home after living in it for two years you could carry $250,000 (single person) or $500,000 (jointly filing) without getting hammered on capital […]

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Des Moines, Iowa – Real Estate Market Watch – Week of July 21st, 2008

July 31, 2008

What’s The Real Estate Market Doing? Do you ever wonder how our real estate market is here in Des Moines? Unfortunately, we spend a lot of time listening to how rough things are in other cities around the country, but too often we don’t really consider what our real estate climate is like. I’m a […]

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Fed Decides To Extend Discount Window Terms

July 30, 2008

The Fed announced today (Wednesday, July 30th) that they will be extending their discount window terms. They will be increasing the now 28 days repay loans to 84 days for banking institutions.  The first auction offering these terms is on August 11th. Just another sign that the goverment is willing to do what it takes […]

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Mortgage Market and Rate Watch – Week of July 28th

July 28, 2008

Mortgage Market and Rate Watch For Week of July 28th, 2008 What To Watch This Week? Employment!  There are five reports related to employment this week.  One of the best ways to measure how the economy is doing is the employment figures. Here’s the interesting part though, if unemployment is higher than expected, rates tend […]

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Short(er) & Sweet(er) Explaination of Housing Bill

July 26, 2008

I read a lot of mortgage industry blogs.  A lot. After finally cleaning out my feed reader, I found a great post from Alex Stenbeck’s “Behind The Mortgage“.  I provided the entire breakdown of the new bill, but Alex does such a great job of cutting through the language and picking out the few points […]

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What’s This New Bill H.R. 3221 About?!

July 25, 2008

Say What? You may have heard about the new bill designed to ‘rescue the current housing market’.  This bill is known as The American Housing Rescue and Foreclosure Prevention Act of 2008. There’s a lot of confusion of what all this bill covers.  Instead of re-inventing the wheel, I found an extremely thorough explanation on […]

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New Bill May Eliminate Down Payment Assistance (DPA)

July 24, 2008

Questions, Questions There’s a lot of uncertainty about where legislation will leave the mortgage market in the next week.  With a couple of bills, things could change in a hurry.  Until this bill passes – no one knows what will happen for sure. One thing is for sure, HUD (Housing and Urban Development) does not […]

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