Interest Rates are DOWN!
The Fannie Mae/Freddie Mac takeover has proved excellent for interest rates. I’m quoting my clients about a half a percent less than I was just 1 week ago on any given loan product. Both national and foreign investors are buying mortgage bonds in full force...It’s Official: Government Take-Over of Fannie Mae and Freddie Mac
It was announced on Sunday, September 7th that the federal government is officially taking control of mortgage giants Fannie Mae and Freddie Mac in a manner of “conservatorship” and that they will be regulated by the newly-created Federal Housing Finance Agency...Market Movement
Interest rates this week improved due to weak retail sales and disappointing unemployment figures. Mortgage interest rates move depending on how the overall economy is doing and react to economic reports that come out on a regular basis. A general rule of thumb is...For Better or For Worse: new appraisal process come January 2009
The credit crunch is making everything harder, interest rates more expensive, lenders much stricter and loans harder to come by. With this credit crunch comes the Home Valuation Code of Conduct, a new Fannie Mae and Freddie Mac rule that will be implemented in January...Credit Reporting and How to Avoid Junk Mail
I had a meeting with a client the other day and we were discussing credit reports and how many pieces of junk mail he receives from credit card companies soliciting him to open up new credit cards. Obviously he’s on some list (or lists) because, if you’re not aware,...First Time Homebuyer Program: CalHFA
California Housing Finance Agency (CalHFA) is a state-sponsored agency that offers affordable solutions and down payment assistance programs to first time homebuyers. To get a CalHFA loan, one must adhere to the following requirements: First time homebuyer (by...Economic Theory: “The Hemline Index”
This is silly, but certainly amusing! The Hemline Index is a theory purporting that skirt lengths and the economy coincide. The shorter the hemline, the stronger the economy; the longer the hemline, the weaker the economy. Check this out… Hemlines hiked up in the...If Your Monthly Payment is About to Reset…
I want to share a situation that comes up all too often in this market: I got a call a few weeks ago from a woman that bought her condo in 2005 with a 5% down payment. She was put in a 3/1 Interest Only ARM (fixed at a set interest rate for the first 3 years of the...Consumer Price Index 8.14.08
I know, I know… we don’t need an official report to tell us this, but here it is anyway. The overall July Consumer Price Index (CPI) came out this morning and the reported figure was a hefty 0.8%. The CPI is the economic measure of consumer inflation and...Loan Calculator
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