Archives
Why You Can't Trust Your Local Newspaper's Mortgage Rate Advertisements
Mon, 03/30/2009 - 15:49This is the second-best one minute summary you'll get all day. What's the first? That's easy. The advertisement shown at right ran in Saturday's Cincinnati Enquirer. I'm using it to illustrate why you can't rely on your local paper's mortgage rate information. This is not a dig on the Enquirer,...
Read the full post at http://www.themortgagereports.com
What Mortgage Rates Will Do Over The Next 30 Days (March 26, 2009 Edition)
Thu, 03/26/2009 - 15:08I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. The Bankrate.com survey is for conforming mortgages. It does not apply to FHA mortgages, VA mortgages, jumbo mortgages, or foreign national mortgages. For rate quotes, email me...
Read the full post at http://www.themortgagereports.com
FHA Ends 95 Percent Cash-Out Refinances March 31, 2009
Wed, 03/25/2009 - 14:40This isn't a new story, but more of a reminder. The FHA is discontinuing its 95% cash-out refinance program effective April 1, 2009. For all case assigmements made on or after April 1, 2009, cash-out refinances are limited to 85%. "Case assignment" is FHA-speak for "registered loans". It's a move...
Read the full post at http://www.themortgagereports.com
Are Gas Prices Rising? Mortgage Rates Won't Be Far Behind.
Mon, 03/23/2009 - 15:26Summer months bring with them a few constants -- catchy songs, Will Smith movies, and rising gas prices. This last item, at least, can be shown in a chart. See above. With oil prices racing higher, it won't be long before gas prices do the same. And more than any...
Read the full post at http://www.themortgagereports.com
What Mortgage Rates Will Do Over The Next 30 Days (March 19, 2009 Edition)
Thu, 03/19/2009 - 19:07I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. The Bankrate.com survey is for conforming mortgages. It does not apply to FHA mortgages, VA mortgages, jumbo mortgages, or foreign national mortgages. For rate quotes, email me...
Read the full post at http://www.themortgagereports.com
Understanding The Federal Open Market Committee's Official Statement (March 18, 2009)
Thu, 03/19/2009 - 00:34This is a copy of the Wall Street Journal's always-excellent, post-FOMC meeting Parsing the Fed feature. Here's what you need to know in two, simple-to-understand bullet points: Mortgage rates fell post-meeting because the Fed stepped up its mortgage market support Mortgage rates will eventually...
Read the full post at http://www.themortgagereports.com
Why You Can't Get Your Mortgage News From The Newspaper
Tue, 03/17/2009 - 15:49This clip is from my local Sunday paper's business section. It illustrates why researching mortgages can be confusing (and annoying). We look to our newspapers to tell us the truth; to provide indisputable facts. In this case, MSM=FAIL. Aside from the spelling mistake in the headline, it looks like...
Read the full post at http://www.themortgagereports.com
The Mortgage Rate Game : Official Rules And Prize List
Mon, 03/16/2009 - 16:44Shopping for a mortgage is a lot like entering an NCAA Men's Basketball Tournament pool. You begrugingly fill out an application, the cost is more than you expected, and you've never heard of most of your choices. Let's play a different game this March. It's free and it's called The...
Read the full post at http://www.themortgagereports.com
The 3 States That Account For 50% Of The Nation's Foreclosure Actions
Fri, 03/13/2009 - 14:16I like graphics. Graphics tell stories. Especially graphics like this one. According to RealtyTrac.com , California, Florida and Arizona -- home to just 19.99 percent of the country's populace -- accounted for half of the nation's foreclosure actions in February 2009. This is especially interesting...
Read the full post at http://www.themortgagereports.com
What Mortgage Rates Will Do Over The Next 30 Days (March 12, 2009 Edition)
Thu, 03/12/2009 - 16:56I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. The Bankrate.com survey is for conforming mortgages. It does not apply to FHA mortgages, VA mortgages, jumbo mortgages, or foreign national mortgages. For rate quotes, email me...
Read the full post at http://www.themortgagereports.com