Rates are Down! Now What? Buy!!!!
Wednesday, March 19th, 2008 Posted in Uncategorized | No Comments »Our wholesale 30 year fixed rate dropped to about 5.5% this week, with 15 year fixed mortgages a tad under 5%. Now what? I think this is the best time to be a buyer in the market. The old saying simply states ...
Mortgage Rates Are Up Now What
Tuesday, February 26th, 2008 Posted in Uncategorized | No Comments »Mortgage Rates Are Up Now What Currently the national average for the 30 year fixed rate is near 6.5%. Some people out there may think that these rates are too high and are still waiting for rates to come down. In ...
New Conforming Loan Limits
Thursday, February 21st, 2008 Posted in Uncategorized | No Comments »New Conforming Loan Limits In recent weeks there has been much discussion in the Mortgage Industry as to how much the conforming loan limits for Fannie Mae, Freddie Mac and FHA (Federal Housing Authority) will be. Currently the conforming loan limits ...
Pay Option Arms-The Real Mortgage Killer
Tuesday, February 12th, 2008 Posted in Uncategorized | No Comments »Pay Option Arms-The Real Mortgage Killer Pay Option Arms are probably one of the trickiest and least understood mortgage programs available to consumers. Let me Stress to you at the very beginning, your Payment Rate is not your Interest Rate. This ...
How Do I know If Interest Rates are going to Drop?
Monday, February 4th, 2008 Posted in Uncategorized | No Comments »So many times in the news you hear that the Federal Reserve has cut interest rates. Shortly thereafter clients begin calling and ask me how much the interest rates on mortgages have dropped. First point, the Fed rate is the rate ...
100% Financing
Monday, January 28th, 2008 Posted in Uncategorized | No Comments »This seems to be a topic that comes up a lot. Many times when I am out attending social events, the conversation turns to the mortgage industry and all the half information that the general public has heard through the ...
Mortgage Outlook For 2008
Thursday, December 27th, 2007 Posted in Uncategorized | No Comments »Lenders are continuously tightening guidelines and are restricting many loan programs available to borrowers. With major lenders and investment banking companies still having billions of dollars in bad mortgage debts to write off their books it will be some time before ...
What It Means to Be A Mortgage Broker
Thursday, December 20th, 2007 Posted in Uncategorized | No Comments »Being a mortgage broker is something more than quoting a person an interest rate and getting an appraisal done. Too often I hear about people that have worked with other companies and so called "loan officers". They say to me ...
Loan Officer Vs. Mortgage Professional
Monday, December 17th, 2007 Posted in Uncategorized | No Comments »Being in the mortgage industry for over 10 years now, I have narrowed down some of the basic problems that consumers often run into when applying for a mortgage. A mortgage application and process can be a very complex situation. ...