Archive for November, 2009
One Reason Why Mortgage Rates Are Back To All-Time Lows
Home affordability improved this week after the Federal Reserve released its November 3-4, 2009 meeting minutes.
The FOMC Minutes is a companion to the Federal Reserve’s post-meeting press release. It’s released 3 weeks after the Fed adjourns and details the internal debates that shape our nation’s monetary policy.
As compared to the press release, the minutes can be rather [...]
What’s Ahead For Mortgage Rates This Week : November 30, 2009
Mortgage markets improved last week on stronger-than-expected economic data and safe haven buying.
The holiday-shortened trading week amplified what should have been modest gains into large ones.
Conforming mortgage rates dropped by about a quarter-percent last week, dropping them near their best levels of the year — and of all-time.
Oddly, mortgage rates are falling as the [...]
Congress Expands And Extends The First-Time Home Buyer Tax Credit
Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday.
The White House says the President will sign it into law today.
The up-to-$8000 tax credit’s expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be closed by June 30, 2010.
The program’s basic eligibility [...]
What’s Ahead For Mortgage Rates This Week : November 23, 2009
Mortgage markets worsened last week on a mixed bag of economic data. Inflation data came in soft, but so did the start of the holiday shopping season.
For the first time in a month, mortgage rates worsened last week, adding roughly 0.125 percent on conforming fixed-rate products, and a little bit more on ARMs.
Despite rates worsening, there [...]
Why is the APR (annual percentage rate) of my 3, 5 or 7 yr ARM (adjustable rate mortgage) less than the start rate?
Good question. The concept of APR is a bit difficult for many to swallow. It’s in the Truth in Lending disclosure giving to borrowers of mortgage loans as well as many other types of debt.
Super simple terms: The rate that a borrower would receive from a lender if the lender charged you 0 [...]
Housing Starts Are Down And Why It’s Terrific News For Sellers
A “Housing Start” is a home on which construction has started and, for the 4th straight month, national single-family housing starts held steady last month.
When the demand for homes grows faster than the number of homes for sale, prices increase.
As recent home sales data confirms, buyers currently outpace sellers and one consequence of this is an [...]
What’s Ahead For Mortgage Rates This Week : November 16, 2009
Mortgage markets improved last week as foreign buyers of mortgage debt helped to push mortgage rates to a 4-week low.
It marked the 3rd consecutive week that rates improved, breathing extra life into this year’s ongoing Refi Boom.
Fixed-rate, conforming mortgage rates fell about 0.125 percent on the week. ARMs did about the same.
There wasn’t much data [...]
Nice “Thank you” from our clients – George and Andrea Aguilar!
Thank You Document
We received a nice thank you photo from these California First Time Home Buyers – our Chris Garza worked with them on this. Makes our Day!
george-aguilar.docx
Share on Facebook
Congress Expands And Extends The First-Time Home Buyer Tax Credit
Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday.
The White House says the President will sign it into law today.
The up-to-$8000 tax credit’s expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be closed by June 30, 2010.
The program’s basic eligibility [...]
What’s Ahead For Mortgage Rates This Week : November 2, 2009
Mortgage markets improved last week after a series of hugely volatile trading sessions.
Rates carved out a wide range on the week, culminating in a late-Friday plunge that dropped rates by about 1/8 percent.
It was the first time in 5 weeks that mortgage rates fell.
Volatility like that of last week is nothing new on Wall [...]
