Mortgage markets had a terrible, holiday-shortened week last week as Wall Street responded to worse-than-expected inflation data and action from the Federal Reserve. Mortgage bonds sold off with force, causing mortgage rates to rise for the second week in a row. Last week was a bad week to float a mortgage, to say the least…. Continue Reading
Tag Archives: Scottsdale
HomePath, Welcome Home. Buy a House with Low Down, No PMI, No Appraisal? Yes!
HomePath loans from Fannie Mae provide home buyers an opportunity to purchase a home with low down payment, no PMI, no appraisal, and Seller paid closing costs. Owner Occupants and Investors are welcome to enjoy the benefits of HomePath…. Continue Reading
It’s Getting Harder to Get Approved for a Home Loan
The economy’s improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by. Underwriting guidelines are tightening. The data comes from the Federal Reserve’s quarterly survey to its member banks. The Fed asks senior bank loan officers around the country to report on “prime” residential mortgage guidelines over the most… Continue Reading
What’s Ahead For Mortgage Rates This Week : February 8, 2010
Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week. Mortgage rates are now at a 6-week low but probably shouldn’t be. It underscores just how important global… Continue Reading
What’s Ahead For Mortgage Rates This Week : February 1, 2010
In a news-heavy week, mortgage markets improved last week, adding to a 3-week rally. But, given last week’s data and domestic story lines, it’s surprising that rates actually fell. The Federal Reserve said the economy continues to strengthen Consumer Confidence pushed to a 2-year high 4th Quarter domestic output exceeded Wall Street’s expectations Usually, events… Continue Reading
Existing Home Sales Plummet. The Reason is Simple.
Just one month after from blowing away Wall Street, December’s Existing Home Sales hit the skids, shedding nearly 17 percent and falling to a 4-month low. Don’t be alarmed, though. The plunge was expected. And not just because Pending Home Sales cratered last month. When November’s Existing Home Sales surged, it was clear to observers… Continue Reading
What’s Ahead For Mortgage Rates This Week : January 25, 2010
Conforming and FHA mortgage rates improved last week on the combination of weaker-than-expected economic data and new anti-banking rhetoric from the White House. The S&P 500 shed nearly 4 percent in its worst weekly showing since October 2009 as all 10 sectors fell. As the money left stock markets, it made its way to bonds… Continue Reading
What’s Ahead For Mortgage Rates This Week : January 11, 2010
Data was sparse through 2010′s first trading week last week, setting the stage for a week of momentum trading. In up-and-down trading, mortgage pricing improved overall but the best rates of the week didn’t last long. Rates improved Monday and Tuesday as an oversold market corrected itself to better price points. Then, in anticipation of… Continue Reading
What’s Ahead For Mortgage Rates This Week : December 21, 2009
Mortgage markets improved last week as pricing followed a roller coaster-like pattern. After touching a 6-week high Tuesday, rates rallied to weekly lows Thursday, and then jumped back higher Friday. Despite the improvement last week overall, mortgage pricing remains significantly worse from the all-time lows set in late-November. Oddly, last week’s most prominent mortgage-related story… Continue Reading
Housing Starts Jump; Home Sellers Lament.
Housing Starts jumped last month as builders got back to business. It’s a telling sign for the economy, but bad news for next season’s sellers. With more homes coming online, home prices may be slow to rise nationwide. A “Housing Start” is a privately-owned home on which construction has started. In November, starts rose by nearly… Continue Reading