Recent News

Is It The Sensible Move? Refinancing From An ARM To A Fixed Rate Mortgage.

Overwhelmingly, refinancing homeowners are choosing fixed rate mortgages over adjustable ones. But is it logical? Go deep on the numbers and see for yourself.

2011 Conforming Mortgage Loan Limits By County, Including “Normal” and “High-Cost” Areas

In 2011 -- for the 6th consecutive year -- the single-family conforming mortgage loan limit will be $417,000. The "high-cost" area program is extended, too.

It Just So Happens, Mortgage Rates Don’t Rise And Fall Like “They” Say

There's an old adage in the mortgage business: "Rates take the stairs down, and the elevator up." It's supposed to mean that mortgage rates go up faster than they come down. It's practically gospel among the older crowd. Turns out, though, it's completely false.

Mortgage Newsflash : Mortgage Rates Rise 1/2 Percent In 10 Days; The Refi Boom Is Ending

Since mid-April, mortgage rates have been falling, shedding more than a entire percentage point along the way. For homeowners carrying a $300,000 mortgage, the rate drop is equivalent to $180 in monthly savings. But, that's all over now. In this brief, 2-minute mortgage market summary, you'll get a quick breakdown of what's happening, and why.

Inflation Is 33% Higher Than Reported And Mortgage Rates Benefit (For Now)

The government rounds inflation figures to one decimal point when it releases its data -- an imprecise way of reporting precise information. It's helping to keep mortgage rates artificially low.

In Charts : The Falling, Long-Term Cost Of A 30-Year Fixed Rate Mortgage

As compared to the day *after* the expiration of the $8,000 home buyer tax credit, today's cost of carrying a 30-year fixed rate mortgage to term is lower by $51,000. Mortgage rates are on a 6-month rally.

How Deflation Changes Mortgage Rates

According to Google, "deflation" chatter is growing. It's extending the Refi Boom for another few weeks.

FHA Mortgage Insurance Premiums To Rise In October : Should You Act Now, Or Should You Wait?

For the second time in 4 months, the FHA is changing the way it charges mortgage insurance.

Mortgage Newsflash : FHA Mortgage Insurance Premiums; The End Of The Refi Boom; Tracking Live Mortgage Rates

The FHA is changing its mortgage insurance policies October 4, 2010, and the Refi Boom is finally showing signs of its end. In this 150-second video, we talk about it all.

TV Interview : FHA Premiums, Jumbo Mortgage Guidelines, And Mortgage Rates

I gave a 2-part interview with Beejal Patel of First Business television. This is the second part. We talk about FHA mortgage insurance premiums, jumbo mortgage changes, and the impact of double-dip recession on the economy.

TV Interview : Existing Home Sales, The Tax Credit, And Mortgage Rates

I gave a 2-part interview with Beejal Patel of First Business television. This is the first part. We talk about the economy, home sales and mortgage rates.

The Home Buyer Tax Credit Has NOT Been Extended — A Civics Lesson As Taught By Schoolhouse Rock

Despite what you're hearing, the federal home buyer tax credit has not been extended beyond its June 30, 2010 deadline to September 2010. At least not yet.

How To Find Interest Only Mortgages In An Amortizing Mortgage World

Starting next week, Fannie Mae is putting major restrictions on the popular "interest only" loan product. This follows Freddie Mac's earlier announcement to discontinue interest only loans entirely.

How Shopping For Mortgage Rates Is Like Shopping For A Suit

When people visit national mortgage sites for "rates", what they're looking is for something akin to a MSRP for Mortgages; a way to keep their lender honest about rate quotes and such. Sadly, markets don't work that way. You can't visit a national website for a single mortgage rate any more than that you could watch a national forecast for a single weather report.

Mortgage Rates Are Range-Bound And, Therefore, Are Doomed To Rise

Mortgage rates are rising. 5 percent, 30-year fixeds will be here soon. It's apparent with just one look at a chart going back 16 months.

There Is A 1.03% Interest Rate Spread Between Adjustable Rate Mortgages And Fixed Rate Mortgages

It's a common question with rate shoppers. Which is better? A fixed rate mortgage or an adjustable rate mortgage? In short, it depends. And the chart at top shows why. ARMs And Fixed Rates Don't Move In Unison Mortgage rates are based on the price of mortgage-backed bonds, a group of securities bought and sold […]

Mortgage Rate Velocity Accelerates In April; Rates Change Every 4 Hours, 6 Minutes

In April, mortgage pricing crossed the threshold every 4 hours, 6 minutes, on average. For rate shoppers, it means that the rate quote you got this morning -- from your loan officer, from your bank's website, or from wherever -- is 100% useless to you by the time this afternoon rolls around.

Greek Debt Concerns Are Dropping Mortgage Rates For Home Buyers And Refinancing Households

Default concern is now spilling beyond the Greek border to the rest of the PIIGS -- Portugal, Ireland, Italy and Spain. Contagion mentality has set in. Markets have moved into Safe Haven mode. It's helping mortgage rates fall but it won't last forever.

The Federal Reserve Does Not Set U.S. Mortgage Rates

The Federal Open Market Committee starts a 2-day meeting today, one of 8 scheduled meetings for the year. Bernanke & Co. are expected to leave the Fed Fund Rates unchanged after the meeting, but that doesn't mean mortgage rates will be unchanged, too. Au contraire, mortgage rates will be all over the place.

Adjustable Rate Mortgages Are An Absolute Steal Right Now. Have You Checked The Rates Lately?

Home buyers would be silly to not at least consider the 5-year ARM right now. As compared to the 30-year fixed, the 5-year ARM is an absolute steal.