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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.

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:

1. What impact does rising rates have on the housing market? << Little impact
2. Will mortgage rates get back to 5 percent? << Yes, they will
3. 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.