The Mortgage Channel is the channel made specifically for those on the Mortgage side of the real estate industry, where professionals can discuss, research and read up on the mortgage sector nationwide.
Today's economic data had little impact. November Pending Home Sales fell -4% to 82.3, below the consensus of 88.0, to a record low. December ISM Services came in a little higher than expected, while December Factory Orders fell short. The FOMC Minutes from the December 16 Fed meeting showed broad support …
January 6, 2009, 8:30 AM PSTFannie Mae Mortgage Backed Securities (MBS) Down 14.5 basis points (bps) to 4.507%Monday, FHA Wholesale Rates were down 7.7 bps to 5.049%*A Basis Point (bps) is 1/100 of 1.00%
LOCKMortgage Backed Securities are in a nuetral zone where the odds are about equal they could continue …
but a flight to quality in US Treasuries. Unfortunately mortgage rates didn't tag along for the ride, and buyers backed off their prices during the day. On today's economic agenda, October's composite home price index is expected to decline -17.9%, a new record low, due to the inventory of homes and …
Sales have picked up for several reasons. One big reason, is the easing of interest rates -
simple. Lower interest rates allow one to buy the same home with a more affordable monthly payment.
Although, credit is a little more difficult to come by. Stricter lending terms, larger down payment requirements …
SOMEONE ON CAPITOL HILL IS LISTENING AND THINKING.
REPORTED ON INMAN THIS A.M.
"Rep. Brad Miller, D-N.C., said he plans to introduce a bill today allowing bankruptcy "cramdowns" of mortgage loan principal, the Wall Street Journal reported. Sen. Richard Durbin, D-Ill., plans to sponsor similar legislation in the Senate, the paper …
THEY ARE CONSUMERS, NOT HOUSING MARKET ANALYSTS.
A recent comment that the American consumer had marginal ability to pay and didn't care is typical of many posts and comments that I read.
I dispute that premise.
The American family does care. They are, however, unsophistacated in financial matters. Tell a family that …
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
No economic reports due out til Wednesday. The Israeli/Hamas conflict is causing a spike …
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
The manufacturing index showed this morning a continued contraction in the economy. This coupled …
So rates fell slightly this week. This marks the 10th week in a row rates have fallen. This is also the 3rd week where the the 30 year mortgage rate (the most popular mortgage product) has hit new 30 year lows. The 30 year rate fell from 5.14 to 5.10. The …
Modifying a loan may not help... from a Seattle Times article By Alan J. Heavens
Article excerpt: As lawmakers and housing advocates push the federal government to help cut the foreclosure rate, Comptroller of the Currency John Dugan offers this sobering statistic: More than half of loans modified in the first quarter …
Publication: The Columbus Dispatch;Date: Dec 21, 2008;Section: Home & Garden;Page: I4
THE NATION'S HOUSING- Homeowners can modify loans sooner
Here's some good news for homeowners facing tough financial times: You no longer have to miss two to three months of payments before your mortgage company can modify your loan terms.
While the Veterans' Administration does not set a minimum credit score standard for VA Home Loans, the mortgage industry does. In the wake of the subprime meltdown, many of the secondary market mortgage investors (companies that buy bundles of mortgages) have tightened credit criteria. …
Maximum VA Home Mortgage Limits for Wyoming counties
The new maximum loan limits for Wyoming are available now as a result of recently enacted VA benefits. The previous loan limits on VA loans was $144,000. However, loan limits in all Wyoming counties, are now $417,000.
If you're keeping track of this blog, you know that we've received a good many "gifts" this year in terms of the Feds actions to boost liquidity. Well, Uncle Ben had one more gift for us through 2008 to usher in the 2009 home loan and home buying season!
As …
Speaking from experience in dealing with mortgage giants, if you are looking for friendly service that takes an interest in your wellbeing, they may not be the company for you. I must admit that some of these mortagage conglomerates can change. One of the largest lenders has been bought by …
California State Budget Crisis Temporarily Halts CALHFA Programs!
Who the heck is CALHFA.. you might ask!
For over 30 years, California Housing Finance Agency (CalHFA) has supported the needs of renters and first-time homebuyers by providing financing and programs that create safe, decent and affordable housing opportunities for individuals within specified …
The folks at Ameridream are calling for a rally in support of seller funded down payment assistance programs (SFDPA) at the Orlando offices of Florida Senator Bill Nelson this Wednesday, 12/17 at 12 noon. The purpose of the rally is to show support for HR 6694 which would reinstate SFDPA's. This …
Erasing All Types of Bad Credit Permanently!
Fix Credit Biz offers permanent bad credit removal nationwide. The company has removed all types of bad credit including BANKRUPTCY, LATE PAYMENTS, CHARGE OFFS, ERRORS, IRS, REPOS, CHILD SUPPORT, FORECLOSURES, JUDGEMENTS, LATE PAYS, STUDENT LOANS & MORE (Note: IRS and Child support are …
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