Answering The Question That Everyone’s Asking : “What Should I Do About Rising Mortgage Rates?”

Posted on June 15, 2009
Filed under In The News
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Thanks for visiting The Mortgage Reports. To stay absolutely current on mortgage markets and important guideline changes, be sure to take my free daily email alerts.

Mortgage rates have risen sharply since the last week of May, putting a large dent into the Cincinnati homebuyer's monthly budget. And as if you needed proof that rising mortgage rates are a "story", the mainstream media has seen fit to cover the story.

I've given a few interviews on the topic and in this 3-minute piece with First Business, I answer some mortgage- and housing-related questions, including:

What impact does rising rates have on the housing market? << Little impact
Will mortgage rates get back to 5 percent? << Yes, they will
What's the bestrate lock strategy for today's homebuyers? << Be proactive

Soon, I expect mortgage rates to fall from their current, lofty levels. So, if you can afford to be patient with your rate lock, you may find better rates down the road versus what you're seeing today.

And as for being proactive, in advance of rates falling, I've been taking loan applications for my clients and drafting new loan terms for them. The idea is that when rates do fall, we've already agreed on rates and costs and I can lock at the precise minute that rates plunge. The last time rates bottomed-out, you'll remember, it lasted just 90 minutes.

Having a plan is better than not having a plan and I'm happy to monitor markets for you, too. If you're not already working with someone, and we'll get working on your terms right away.

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.

Tags: First Business, mortgage rates

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The Mainstream Media Is Building Mortgage Market Awareness (And That’s A Good Thing)

Posted on January 28, 2008
Filed under In The News
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First Business anchor Tom Hudson asked for commentary on the recent mortgage market volatility. The four-minute spot above is the result.

We did keep our eyes open wide for most of the conversation despite the screenshot above.

Tom and I covered a handful of important mortgage lending topics, many of which won't be new to regular readers of The Mortgage Reports:

Read the rest of this entry »

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.

Dan Green Waxing On Real Estate And Mortgage Planning With InmanTV’s Joel Burslem

Posted on December 14, 2007
Filed under In The News
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I recently gave an interview to Joel Burslem of Inman News, specifically for broadcast on InmanTV.

Joel asked me a series of questions.

What are some of the trends we're seeing in mortgage lending?
In what direction will mortgage rates go in the future?
Why did the the Subprime Tsunami happen?
Is this is good time for a first-time homebuyer to buy real estate?
What your market prediction for 2008?

Somehow, I filled up 5 minutes. And picked the worst buzzword ever.

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.

Foreign National Buyers Could Provide Support To Housing Market

Posted on November 9, 2007
Filed under Foreign National Lending, In The News
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International_herald_tribune The combination of a weak U.S. dollar and growing supply of real estate is attracting international buyers to the U.S. market. Today, the Associated Press ran a story on it.

Not surprisingly, the International Herald Tribune was first to print.

Regular readers know this is a topic I cover fairly regularly, but if you're a first-time visitor and you have an interest in Foreign National mortgages, consider subscribing to this blog via email.

Every day, I use this blog to discuss real estate, the U.S. economy, and mortgage markets. Over time, you'll come to understand how there's no such thing as an isolated world economic event and how it all fits together for your world and your personal economics.

The article author called me when he was writing the piece because he knows I count a good amount of Foreign Nationals in my client list. I talked about how international real estate buyers can provide a floor of support to the U.S. housing market.

The author also highlights Irish real estate firm Castleroc Estates and its growing presence in the Chicago market.

Aside from Ireland, there are other countries whose citizens are buying U.S. real estate, too. The British, for example. Suddenly, a buyer from England has a 2-to-1 rate on their currency exchange against the dollar -- property here can be very cheap.

And, pretty soon, expect Canadians to get into the action, trading in time shares in Orlando for full-fledged property purchases.

Speaking of Orlando, it's a small world. Wharton professor Susan Wachter is quoted by the author as saying, "The dollar is on sale." Aside from giving a terrific soundbite, I think Professor Wachter is the actually the mother of Rick Wachter, a guy who I grew up playing baseball with in Philadelphia.

How strange that we're both quoted in this story.

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.

Interview with First Business: Will the Fed Cut Rates?

Posted on August 24, 2007
Filed under Fed Funds Rate, In The News, Mortgage-Backed Securities
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I interviewed with First Business anchor Anchor Beejal Patel this week. First Business produces news "shorts" that are syndicated nationwide.

The story: "How would a Fed rate cut impact mortgage rates?" You all know my answer -- it's well-documented around these parts.

I am a little embarrassed about having to use somebody else's office for the spot, though; you'll notice the photo of his three kids and one of their rainbow drawings over my left shoulder.

The rainbow does complement my tie nicely, though...

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.

Coverage In The Chicago Tribune: Rates Move Higher For Homebuyers

Posted on June 19, 2007
Filed under In The News, Interest Rates
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Chicago_tribune Monday, the Chicago Tribune sourced me in a story about the recent run-up in mortgage rates titled "Mortgage rates back near year-ago level".

Some of my quotes from the article:

"I don't think consumers are aware of what's happening," said Dan Green, a loan officer for Mobium Mortgage in Chicago. "It's just starting to become front-page news. Forty-five days ago, I was quoting 5.8 percent to people, and now I'm saying 6.6 percent."

It's a difference of about $156 a month on a $300,000 loan.

And why aren't consumers aware...? Because they're not subscribers to The Mortgage Reports, of course. <chuckle>

Because of rising rates, I also had this to say:

"If you pre-qualified for a loan in March or April or May, it's time to call your loan officer and get pre-qualified again. You might find that suddenly your purchasing power has decreased."

Unfortunately, the article reports that "the rising interest rates are tied to yields on the 10-year Treasury note" and that is not completely true.

Yes, mortgage rates tend to move in the same direction as the 10-year treasury note, but rates are determined by the prices of mortgage-backed securities, not U.S. treasuries. That's okay -- a lot of reporters make that mistake.

And lastly -- as is usually the case! -- since the article about rising interest rates ran in the Trib, mortgage rates have been improving across the board. Funny how that happens.

Dan Green is an active loan officer. Email or call 513-443-2020. Dan is on Twitter at @mortgagereports.

Dan Green : Newspaper and Radio Appearances

Posted on January 1, 2005
Filed under In The News
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Dan Green is a national speaker and provider of mortgage mortgage insight.

This is a sample of mortgage-related stories in which Dan has appeared since 2006. For media requests or speaking engagements, please email Dan at or call 877-DAN-GREEN.

December 16, 2009
Fine Print: Mortgages
The Takeaway on Public Radio