recent posts August’s Fed Minutes Lea... Posted by yourmortgageplanner on 09 2nd, 2010
Home affordability took a slight hit this week after the Federal Reserve’s release of its August 10 meeting minutes. The “Fed Minutes” is a lengthy, detailed recap of a Federal Open Market Committee meeting, not unlike the minutes...
Case-Shiller Posts 16th Straig... Posted by yourmortgageplanner on 09 1st, 2010
According to the Standard & Poors Case-Shiller Index, home values rose 5 percent in June versus the month prior, and 4 percent from a year earlier.  It’s the 16th consecutive month in which Case-Shiller reported an increase in home...
Mortgage Rates May Be Low, But... Posted by yourmortgageplanner on 08 31st, 2010
Mortgage rates are low right now but pinning them down this week could be a challenge. As Labor Day Weekend nears and Wall Streeters take their head-start on the holiday, trading volume will fall, which will cause mortgage rates in Washington to...
Home Affordability Rankings Fo... Posted by yourmortgageplanner on 08 27th, 2010
With home prices holding firm and mortgage rates still dropping, home affordability is reaching new heights. According to the quarterly Home Opportunity Index as published by the National Association of Home Builders, more than 72 percent of all...
New Home Sales Drop In July &#... Posted by yourmortgageplanner on 08 26th, 2010
One day after the National Association of Realtors released the softest Existing Home Sales report since 1995, the U.S. Census Bureau released a similarly-weak New Home Sales report. Americans bought just 276,000 newly-built homes in July. That...
Existing Home Sales Plummet In... Posted by yourmortgageplanner on 08 25th, 2010
The number of home resales plunged by 1.4 million units in July, according to the National Association of Realtors®’ Existing Home Sales report. It’s a drop of 27 percent from June; single-family home resales are at the report’s...
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recent from Mortgage Rates Mortgage Rates May Be Low, But They’re Tough To Pin Down — Especially This Week
Mortgage rates are low right now but pinning them down this week could be a challenge. As Labor Day Weekend nears and Wall Streeters take their head-start on the holiday, trading volume will fall, which will cause mortgage rates in Washington to get jumpy. As mortgage rates change, so does the long-term...
recent from First Time HomeBuyer The Home Buyer Tax Credit Extension Has Not Been Passed Into Law (Yet)
As its June 30, 2010 closing deadline approaches, the federal home buyer tax credit is back in the news. Unfortunately, the headlines are misleading. Contrary to what you may have read (or heard), the federal home buyer tax credit has not been extended past June 30, 2010. At least not yet. And here’s...
recent from FHA Higher (And Lower) FHA Mortgage Insurance Premiums Start October 4, 2010
For the second time this year, the FHA is modifying mortgage insurance. Beginning with FHA case numbers issued on or after October 4, 2010, the FHA is changing its upfront and annual mortgage insurance premium structure. Under the new terms, assuming a 30-year fixed rate FHA mortgage with at least 5...
recent from Financial Awareness Bank Mortgage Lending Policies Appear To be Easing
The tightening in mortgage-lending policies that characterized the last 3 years appears to be slowing. According to the Federal Reserve’s quarterly survey of senior bank loan officers, roughly 1 in 10 lenders added mortgage qualification hurdles between April and June. It’s a huge departure...