How To Get Home

There is some positive news coming out of Washington for a change. It seems as if the people in charge are starting to take the foreclosure situation serious. The exact details of the programs are being worked out, but here is the story on the effort to help those in trouble:
WASHINGTON (AP) — With foreclosures […]

[Read more →]

Sorry for being a little late on the weekly recap, but I was a little under the weather this weekend.
From Monday morning until Friday evening, mortgage rates barely moved last week. In the current environment, investors are highly sensitive to fresh economic information, but a lack of surprises last week left them with […]

[Read more →]

When you think of high-priced homes most people will think of California — with good reason. Five of the top 10 highest-priced markets for existing single-family homes are in the Golden State.10 highest priced home markets and the median home price

San Jose-Sunnyvale-Santa Clara, Calif. $775,000
San Francisco-Oakland-Fremont, Calif. $736,800
Anaheim-Santa Ana-Irvine, Calif. $709,000
Honolulu $630,000
San Diego-Carlsbad-San […]

[Read more →]

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, […]

[Read more →]

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 […]

[Read more →]

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 […]

[Read more →]

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 […]

[Read more →]

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 […]

[Read more →]

If I had to guess, I would say over half of the potential home buyers that call in for their initial consultation ask the same question- How much can I be approved for? A large percentage of these same buyers will go out and find a home at that maximum price or slightly higher.
Most mortgage […]

[Read more →]

A few weeks ago, I made a post on the subject of risk. A lot has changed in the last 3 weeks so I thought I would revisit the issue.
The headlines today were more of the same - Late Mortgages Jump to 3 1/2 Year High - New Foreclosures Hit All-Time High. Today’s release of […]

[Read more →]