Mortgage Market Update For July 27 2010

Mortgage rates have been stupid-low lately, sparking the start of a Refi Boom.

This 96-second video covers a lot of ground:

• The hidden stats in June's Existing Home Sales report
• How move-up buyers are making the Fall Market
• Mortgage rates exhibiting the tell-tale signs of rising
• Timing rate locks for 30 days, 45 days or 60 days for lower fees
• The importance of returning your loan documents quickly

Refinance business is booming right now and purchase activity is close behind. If you're contemplating a mortgage and want to work with me, just . We can start working on your rate quote right away.

Mortgage Market Update For April 21 2010

With 9 days left to claim the federal home buyer tax credit, I thought this would be a good time to review the mortgage market, jumbo loans, and the state of home appraisals.

This 2-minute video covers a lot of ground:

• How volcanoes and threats of a Greece debt default are helping mortgage rates
• Peak levels for Mortgage Rate Velocity (MRV)
• How jumbo mortgage rates are "made" and why jumbos are so cheap right now
• The return of the home appraisal

If you've got mortgage-related questions I didn't answer above, email them to me directly at . I'm happy to talk mortgage with you anytime.

I gave a television interview with Beejal Patel of First Business this week and we covered a lot of ground topics like housing, mortgage rates, and the FHA.

In this 5-minute spot, I answer:

• What will happen to mortgage rates after the Fed's market withdrawal?
• How will rising mortgage rates impact the housing market?
• What will happen to home prices after the tax credit expires?
• How does the jobs report relate to mortgage rates?
• What changes are coming down the pipe from the FHA?
• What are investor overlays and why do they matter to home buyers?

Like I said, we cover a lot of ground.  Thankfully, it's easy to digest.

If after watching the piece, you have some follow-up questions for me, and I'll reply back to you.

Tuesday, I asked my Twitter friends what mortgage questions they'd like to have answered.  I picked 3 replies and pushed it to video.

1. What are mortgage rates going to do once the Federal Reserve stops supporting the mortgage market?
2. With good credit, income and equity, how do I get a stated income home loan?
3. Are jumbo mortgages coming back to the market?

The video is a quick 2 minutes.  Send your follow up questions anytime.

Earlier, I asked my Twitter followers what mortgage questions they'd like to have answered.  I picked 3 of their replies and pushed it to video.

1. What are mortgage rates going to do?
2. What is the story about the new FHA Streamline Refi guidelines?
3. Will the First-Time Home Buyer Tax Credit get extended?

The video is a quick 2 minutes.  Send your follow up questions anytime.

In January, I made this 5-minute video to illustrate how mortgage guideline changes are impacting American homeowners regardless of their income, assets or credit score.

If you haven't seen the video before, watch it now.  It's a story you need to hear.  If you have watched the video, watch it again and pay close attention to the end.

In the video's last 60 seconds, I wrapped up with a loose idea of where mortgage lending was headed.  In my head, I was talking 12-18 months down the road.

Turns out, it was 60 days.

Read the rest of this entry »

The mortgage industry is complex, confusing, and convoluted.  It's a tale told best using combinations of pictures, words, and images. 

I can't promise that this 5-minute video won't bore you.  But, I can promise that it will give you terrific insight into mortgage lending and how guidelines are changing.