Market Update

Market Update

Rates Always HIgher After An Election. Or Is It Lower?

Mortgage rate myths seem to come and go. Rates are higher if there's a Democrat elected. Rates are higher if the American League wins the World Series, and so on. Will there be a mortgage rate reaction this next Wednesday morning? An article in today's Wall Street Journal provided a punch list of what business [...]

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The Ol’ Switcheroo

Did your mortgage company make you mad? Did your loan officer make all sorts of promises and didn't keep one of them? Thinking about changing mortgage lenders midstream before your escrow closes? Such a switch is, to put it mildly, cumbersome. It's not a situation where you can transfer your loan application and all the [...]

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Your Mortgage. Um, YOURmortgage

Recent ads on TV, radio and online promote a particular mortgage lender that offers to create a special mortgage with a payoff period designed specifically for you. That's actually a good thing. Most consumers think there are two mortgage terms, a 30 year mortgage and a 15 year mortgage. Yet in reality most any term [...]

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How Low Can We Go?

Sir Bernanke christened the great new ship, the QE3 today.  The QE3, whose longer moniker is Quantitative Easing, Round III, pledges that the Central Bank will print, er, buy $40 billion of mortgage backed securities each month. This monthly "investment" in the U.S. economy has a strict starting point, immediately.  Or at least when they [...]

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Income to Debt Ratios for Loan Modifications

When applying for a loan modification, there really are more choices than you might think.  There are of course the government-sponsored initiatives with their inherent acronyms such as HAMP or HARP.  And individual banks can also have their own internal loan modification loan programs approved to their own internal guidelines.  These modification requests can range [...]

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