Currently viewing the category: "Mortgage Center"

Current Mortgage Rates & Closing Costs

On September 8, 2010 By

The average contract interest rate for the 30 Year dropped from 4.50% to 4.43%. BUT, the points dropped from 1.34 to .96 (.38%, or almost $950 on a $250,000 loan). All rates and fees measured by the survey are for 80% loans and therefore avoid Loan Level Price Adjustments

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We're Back!

On May 11, 2010 By

What a bad time for a website migration.   Here’s what happened:  The EU stumbled to the brink of disaster, then back, and then back to the brink of disaster.   Ultimately it played out with the European Central Bank outsourcing the clean up to the IMF.  IMF is code for “a lot of US Taxpayer money.”   [...]

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Mortgage Rate Predictions: Week of April 26, 2010 (We Cheated)

On April 28, 2010 By

We cheated.  Admittedly.  After years of weekly on Mondays, our track record is pretty good.  This week we were blindsided and it delayed this week’s predictions.

Last week saw higher rates on FHA, conventional, and adjustable rates–everything ticked higher.  Volcanic ash cleared [...]

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Market Waits For Fed Press Release

On April 28, 2010 By

The adjourns from a scheduled, 2-day meeting today.This is one of the big 8 days scheduled every year.

Upon adjournment, Fed Chairman Ben Bernanke & Co. will release the brief press release that will hit the big question:  the Continue Reading →

New Home Sales: Strong in March, but not as strong as they would seem

On April 27, 2010 By

The sales of newly-built homes soared in March. Even more than what was expected. But the news may not be as glowing as what the media is telling us.

Take a look at the headlines from last Friday:

Sales of new homes rocketed up 27 percent in March [...]

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Home Resales Boom Into The End Of The Tax Credit; Home Values Seen Rising.

On April 23, 2010 By

As expected, jumped last month as March revealed 7% more closings versus February.

The year over year figure shows that sales volume was up over 16%.

“Existing home sale” includes those homes that have previously been inhabited.  The opposite is a “new [...]

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Mortgage Rate Predictions & Unlikely Allies

On April 21, 2010 By

are always subject to countless variables, both foreign and domestic.  Don’t leave out Mother Nature.

In the 7 days since Iceland’s Eyjafjallajökull erupted, ash clouds have grounded planes, disrupted businesses, and stranded exports in [...]

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Housing Starts Data Hints That Housing Will Expand Even After The Tax Credit Expires

On April 20, 2010 By

After a strong March showing and a surprise upward-revision for February, are, once again, trending better.

It’s yet another signal that the housing market nationwide is stabilized.

A Housing Start is a new home on which construction has started and, over the last 6 [...]

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Mortgage Rate Predictions: Week of April 19, 2010

On April 19, 2010 By

We saw a second consecutive week of mortgage rate improvement last week.  Also for the second week in a row, the reason for the downward trend in was “safe haven” buying.

As we’ve discussed before, Continue Reading →

Fixed v ARM Mortgage Rates

On April 16, 2010 By

The hasn’t been very popular over the past few years.  In looking at the most recent Freddie Mac survey of 125 banks, you can see why the comparison is coming up again.

Just twelve months ago, we were actually [...]

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