How To Get Home

A combination of stronger than expected economic data and inflation warnings from the Fed pushed mortgage rates to the highest levels of the month. In a highly anticipated appearance, Fed Chief Bernanke testified before Congress on Wednesday that inflation is running higher than the Fed’s comfort level and that the Fed’s […]

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I will agree that the subprime mess is getting a significant amount of press lately. It is almost like the pre-game show before a football game, except that it looks like we are somewhere in the 1st quarter. There are a ton of interviews being done with Fed officials, mortgage lenders, and homeowners. What went […]

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Early on, MBS markets surged when the Durable Orders report came in weaker than expected. MBS markets attempted to rally again after Fed Chief Bernanke’s testimony to Congress. Later in the session, however, the momentum shifted, as investors reconsidered the implications of Bernanke’s comments, and MBS markets closed near the lows for the day. Tomorrow, […]

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Understanding your mortgage loan choice is very important. Picking the program that gives you the lowest payment without giving any thought to the program details is a risky move. If you are going with an ARM, you need to understand how that loan can change, how much it can change, and when it will start […]

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So the stage is set for a battle between home owners that are late on their mortgages and lenders who are ready to foreclose on them. As more and more Americans are facing the possibility of losing their home, Congress is considering what, if any action, it should take to help out the borrowing public.
Lenders […]

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Ever notice how the nightly news is pretty negative? I understand there are a lot of problems in the world and that the networks have a responsibility to report that news. I also understand that people slow down to look at car accidents. Truth is, bad news sells and bad news keeps people from changing […]

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The biggest news last week was Wednesday’s Fed policy meeting. As was universally expected, the Fed held interest rates unchanged at 5.25%. Investors, hoping to find out the influence of recent turmoil in the stock market and the subprime mortgage sector, were somewhat surprised that the accompanying statement made no explicit […]

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In the late 80’s and early 90’s, lenders were working on programs to charge more for higher risk loans and less for lower risk loans. As a result of the evolution of credit scores and automated underwriting, more lenders began to adopt the concept of risk-based pricing and use it to increase loan production. In […]

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With all of the recent problems in the subprime market, there will be more attention paid to one of the best home loan programs out there - FHA. In my opinion, the FHA home loan program is ideal for first time home buyers or borrowers with a less than perfect credit.
The Federal Housing Administration […]

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There is no shortage of discussion about the future of the housing and mortgage markets these days. Now that home owners, lenders, and Wall Street are focused on the risk in the system, there is a good chance that positive changes are coming. There will be a ton of lawsuits coming down the pipe and […]

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