From the monthly archives: January 2008

Mortgage Market Update – January 31, 2008

On January 31, 2008 By

As expected, the Fed cut the Fed Funds Rate to 3%, a drop of .5%. This now totals 1.25% in the past 8 days. This is great news for variable debts like Home Equity Lines, Credit Cards, and similar loans that are using today’s Prime Rate of 6%. Stocks have rebounded from a soft open [...]

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Homeowners Rejoice! New Homes Sales Data Is Weak.

On January 31, 2008 By

If you only read headlines this past week, you may have missed two very important points.

The first story relates to Housing Starts. Housing Starts measure the number of new homes entering the construction phase. The headline blared "Housing starts plunge to 16-year low".

If you are a homeowner, this is terrific news. [...]

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Mortgage Market Update – January 30, 2008

On January 30, 2008 By

It’s Fed Day. This does not mean that will fall. In fact, using history as an indicator, we should expect to rise, not fall.

The Fed Funds Rate is an overnightrate that [...]

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The Week In Review (January 29, 2008) : What To Watch For

On January 30, 2008 By

change from day-to-day, but last week's volatility was a record-breaker.

After drooping through Tuesday and then skyrocketing Wednesday and Thursday, mortgage rates retreated slightly on Friday.

By weeks' end, rates were at their same levels from mid-December.

This is in contrast to [...]

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Mortgage Market Update – January 29, 2008

On January 29, 2008 By

The last six days have been incredibly volatile. Mortgage Backed Securities are currently trading down after the Durable Goods Report and Consumer Confidence figures came in higher than expected.

The Fed’s Policy Statement and interest rate decision is due tomorrow at 2:15 pm EST. The futures market is expecting an 80% chance of a [...]

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Real Estate Term : Negative Amortization Home Loan

On January 29, 2008 By

(Pronounced: NEGH-ah-tive am-ohr-tih-ZAY-shun)

Negative amortization is the process by which a loan's principal balance increases on a month-over-month basis.

This is in contrast to a "typical" amortization schedule in which the principal balance decreases.

Negative amortization is an optional feature on some home loans.

These mortgages are usually referred to by the brand [...]

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DuPage County Program

On January 29, 2008 By

We bring several unique benefits to homebuyers. PMP offers terrific programs for first-time buyers, as well as buyers
with little or no money saved up for a down payment. And now, they may qualify for the IHDA Program within DuPage County if they me

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Mortgage Market Update – January 28, 2008

On January 28, 2008 By

This looks to be another fun week. Economic reports dot the landscape, including the Fed Funds Rate announcement Wednesday, Thursday’s Core Personal Consumption Expenditure (PCE) Index, and then Friday’s releases will include the Jobs Report.

Today’s New Home Sales Report shows the supply of unsold homes rising to 9.6 months from November’s 9.3 months.

[...]

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Credit Verification and Review

On January 28, 2008 By

How to obtain your free Credit Report

We recommend www.annualcreditreport.com

This central site allows you to request a free credit report, once every 12 months from each of the nationwide consumer credit reporting companies: Equifax, Experian and TransUnion.
 

While they won’t usually provide you with a score unless you pay, you will [...]

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Credit Optimization

On January 28, 2008 By

There are 2 ways essentially to improve your credit score.

The first step is by disputing any innaccuracies that are reported when you reviewed your credit report.

The next step, in correlation with the first step, is to start working on your personal finance plan yourself.  This would include organizing a budget, paying off the right [...]

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