Archive for May, 2009
What’s Ahead For Mortgage Rates This Week : May 26, 2009
Mortgage markets reacted poorly to not-as-strong-as-expected housing data and employment data last week causing mortgage rates to rise on the week overall.
It was the third time in 4 weeks that mortgage rates were up.
To the detriment of rate shoppers, mortgage rates were especially volatile Thursday and Friday.
As an increasing number of traders punched out ahead of the [...]
Over 24 Hours, Mortgage Rates Shoot Higher
Rates go up, rates go down. Catch them while you can.
After Wednesday’s mortgage market rally drove rates down by a bunch, Thursday’s sell-off pushed them right back up.
This has been a common pattern in the skittish world of mortgage rates this year.
With the U.S. economy still teetering between recession and growth, markets are looking for [...]
Housing Starts Are No Longer Falling, Another Positive Signal In Housing
A “housing start” is a new home on which construction has started and, for the fourth straight month, single-family home construction remained flat in April.
For the battered housing market, this is the latest in a series of signals that a long-awaited turnaround is coming.
The number of homes under contract to sell are rising
The national housing inventory [...]
Mortgage Lending Starts To Show Signs Of A Thaw
Getting approved for a home loan isn’t getting easier, but it doesn’t appear to be getting much more difficult, either.
In its quarterly survey to member banks, the Federal Reserve asked senior bank loan officers whether “prime” residential mortgage guidelines had tightened in the last 3 months.
Nearly 50 percent of banks said guidelines tightened last quarter, [...]
Home Affordability Increases On Weak Retail Sales Data
Home affordability improved again Wednesday after the government reported worse-than-expected results for April’s Retail Sales report.
Mortgage rates edged lower for the third consecutive day.
The impetus for the rate rally this week may be a long-awaited stock market correction. After touching multi-year lows in mid-March, the Dow Jones added 30 percent going into last Friday.
It has since lost close [...]
RMC Vanguard Mortgage Success Story May 2009 – the Mooiman Family
We are having a great time originating loans for buyers like Feike, Laura, Audrey, and Annelise Mooiman. Here is what they told us about this transaction:
Was this your First Purchase? No, this our second home purchase, the first was from a builder directly and we used their mortgage company.
Why did you move/buy? We [...]
What’s Ahead For Mortgage Rates This Week : May 11, 2009
Mortgage markets hit their worst levels since March last week, sending mortgage rates higher for the second week in a row.
Today’s conforming mortgage rates are much higher than from the registered low point of April 30, 2009.
There are a few reasons why mortgage rates were up last week.
Stress test results weren’t as bad as originally [...]
Read More..>>Mortgage Rates Higher On April’s 539,000 Jobs Lost
The economy shed 539,000 jobs in April, raising the 6-month total to nearly 4 million jobs lost.
And while the April data may look bad, it’s actually 10% better than what was expected.
As a result, it’s turning into a bad day to be shopping for mortgage rates.
After bottoming out early last week, conforming, 30-year fixed rate [...]
Your Local Gas Station May Have Clues About Tomorrow’s Mortgage Rates
The retail price of gasoline is rising nationwide, now up 30 percent since the New Year.
It’s a similar run-up to what we’ve seen for retail gas prices in each of the last 5 Spring Seasons.
For people trying to time the mortgage market’s bottom, clues about the future of mortgage rates may be at the local gas station.
Rising [...]
RMC Vanguard Awarded 2009 BBB Award for Excellence
Today, RMC Vanguard Mortgage Corporation was awarded the 2009 Award for Excellence from the Better Business Bureau. RMC Vanguard has received this award every year since 2005 except for 2008 when we were awarded the Pinnacle Award from the BBB.
Excellent customer service and “on line” or “internet” lending are not usually thought [...]
