When the credit markets are closed during the weekend or on a holiday, typically mortgage companies don't issue mortgage rates for that day. They're closed. Some mortgage companies don't close on all holidays however, Columbus Day comes to mind. The markets are closed on Columbus Day but many mortgage companies still have their doors open and the phones answered.But what … [Read more...] about Did Your Rate Lock Expire Yesterday?
Archives for October 2012
When investors in general think the economy is on its way up, that's when. Investors, both institutional and individual invest for a reason: they require returns. Otherwise, there's no sense in investing in anything. One might as well leave all their money in a savings account or a safe back at the ranch. Right now, you'd be hard-pressed to find any investment providing any … [Read more...] about When Will Rates Go Up?
Is anybody thinking about who would be better for the housing market as President? Is President Obama on track for a recovery which would boost home prices or would Governor Romney be the best choice when it comes to mortgages? What about mortgage rates, who will keep them lower, Obama or Romney?Actually, who is or who is not President of the United States matters little … [Read more...] about The President and Your Rate
When a loan modification request is sent to a lender for evaluation, (remember, there are more than a few modification types) the primary goal is to get the monthly payment down to an affordable level. That monthly payment includes the amounts for principal and interest, monthly property taxes and homeowners insurance, and any PMI and HOA or Condo dues. That's a mouthful but … [Read more...] about The 31 Percent.
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 associated documentation or picking up the phone and … [Read more...] about The Ol’ Switcheroo