FHA Announces BIG Changes to PMI

June 18, 2008

The Announcement On July 14th, 2008 FHA will be changing a few things with private mortgage insurance (PMI). Just like Fannie Mae made mortgages higher cost, FHA is now following suit. Just in a slightly different way. Once again, they are also placing a heavy focus on credit scores and charging more for credit scores […]

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Weekly Mortgage Market Watch – Week of 6/16/08

June 16, 2008

This week will be a reasonably busy news week.   It will also be important to listen for Fed members and what they’re saying about inflation.  The Fed meeting is coming up on the 22nd.  IF they are to make a move, it could really influence mortgage rates. Here’s this week’s economic calendar: How Do You […]

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A Picture is Worth 1,000 Words

June 16, 2008

No, this is not mortgage related, but news worthy. Above is a photo from a recent tornado that hit Little Sioux Ranch, a boy scout camp.  Over 100 kids and staff were at the camp doing their regular activities and then severe weather moved in.  Four children were killed in this awful natural disaster.  Unbelievable. […]

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Recap on Mortgage Market Last Week

June 16, 2008

Recap of Last Week Talk about inflation was the big market mover last week.  Starting on Monday, Ben Bernanke said that the fed is in no hurry to hike rates because of the ‘slack’ in the economy.  Many economists disagree with him, but this led to a worsening of rates on Monday.  Philadelphia Fed President […]

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Iowa Ranked 41st for Foreclosures in the Country

June 15, 2008

According to the Des Moines Business Record, Iowa’s ‘bucking the national trend’ for foreclosures. Nationally, 1 of every 483 homes received a foreclosure notice in may. This happens to be the highest since January of 2005 when RealtyTrac started the reporting system. Even though it was less than most states, Iowa still had 450 foreclosures […]

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I’m a Blogger for Juice!

June 12, 2008

I just wanted to thank Des Moines Juice for asking me to be their blogger for personal and home finance. I’ll be covering a lot of similar material for Juice as I do for Wealth With Mortgage. I’m going to try to eliminate as much duplication as possible, so you should see a lot of […]

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What Are Your Mortgage Rates?

June 11, 2008

The most asked question I first get from my clients is “What is your mortgage rate?”  They are of course, assuming every consumer gets the same mortgage rate. A very common misconception. I hope after reading this, you’ll have a better understanding of why each rate quote is a custom rate quote and more importantly […]

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Flooding in Des Moines

June 10, 2008

If you’ve been living under a rock for the past couple of weeks, you may not have noticed that we’ve had a little rain.  Well, for some of you who have been in denial (myself included) – get ready.  It sounds like we may have a re-run of the floods of ’93. Do you remember […]

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Foreclosures in Iowa

June 10, 2008

It’s Not Just Us Foreclosures are everywhere. Let’s face it – It’s a problem, and it’s going to get worse before it gets better. Statistics being released are good to gauge how big of a deal the foreclosure situation really is. Power in Numbers The Mortgage Bankers Association prepared a report recently. The report indicated […]

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Weekly Mortgage Market Watch

June 9, 2008

Wow. This week will be an interesting one. Often, mortgage rate movement comes down to one or two pieces of news a week. It looks as though this week’s news will be the Core Consumer Price Index (CPI) on Friday. CPI is one of the Fed’s favorite ways to monitor inflation. With all of the […]

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