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Mortgage Market News, November 6th
There is some good news in the real estate industry day, the first time homebuyer tax credit has been extended! It has also been extended to “move-up” buyers who would receive $6,500.00. Under the measure, an $8,000 tax credit for first-time homebuyers would be extended for seven months and expanded with a $6,500 credit for some prospective homebuyers who already own homes. The legislation... [Read more]
Wow! I need to post something…
Well, the mortgage market took a bit of a hit this week and last week. Bonds moved off their bullish yields that were hovering around the 3.18% range. Overall pricing is still historically outstanding, but we are off our low rates from last Thursday, October 8th. The first time home buyer credit is coming closer to its end. Most people going into contract right now are going to come perliously... [Read more]
Making Home Affordable- Refi Up To 125%
Good Afternoon! Starting Monday, September 21, 2009 we have a new product available to take advantage of the President’s Making Home Affordable Plan! Is your mortgage owned by Fannie Mae? If it is, we have a refinance available up to 125% of the value of the property! How does it work? Well if you couldn’t refinance before because the value of your house had declined, now you might be... [Read more]
Morning Mortgage Market and MDIA- September 17th
The mortgage market started off flat this morning. The 4.5% coupon has improved a bit since the 10am initial update which is good news for rates. There are some experts that are still bullish on the bond, thinking that it will dip below the 3.28% threshold. If it does that should mean interest rates below 5% on 30 year fixed rate money. There is a new guideline in the mortgage industry that... [Read more]
Morning Mortgage Market- September 14th
The 10 year note is a little higher this morning. Rates have retreated from their lows on Friday afternoon. However, they are still at or below the 5% mark on a 30 year fixed. Read More →
