FHA 203k Rehabilitation Home Mortgage loans are used to Purchase or Refinance and rehabilitate an existing One to Four family residences (Residence must be 1 year old) that will be used for residential purposes. FHA approved Condos are eligible as well. With Conforming loans a lender will not release...

Today I discovered a Hidden Gem that has been under my Nose for over a Year and a Half.  As many of you Red Hot Robot Blind Box know, I am a Vinyl Toy (Kid Robot) junkie.  It just so happens as I was doing a little online shopping I thought I would see if a Boutique had sprung up in the Valley of the...

When E. F. Hutton speaks, wait I mean when Obama speaks the Street listens. Once TIm Geithner was anounced by Obama to head up the  Treasruy, the market rallied. Tresauies took a hit but MBS stayed strong, notice the long tail represents heavy selling early in the day. There was actualy a repice for...

CPI OCT 2008 Image courtesy: The Wall Street Journal After supposedly being eliminated as a concern 5 years ago, Inflation’s counterpart Deflation is ominously present. The Fed has cut the Fed Funds Rate to promote economic growth and those changes can take up to 12 months to work their way...

I may have spoken too soon! Yesterday I stated we normally see the Flight to Security in sell offs such as yesterdays. Today the Flight took off.  We are now witnessing historic yields never seen on U.S. Treasuries. The Two-Year has never dropped below 1%; today it did! In uncertain times investors...

Fannie and Freddie announced today they will suspend Foreclosure sells until Jan 09 starting the day before Thanksgiving. No Foreclosures for the Holidays, business will resume 2009. This step coupled with the slowing of Housing Starts could lead to a tighter housing supply, thus stabilize declining...

Housing Starts fell to their lowest levels since 1947 last month. Image courtesy: The Wall Street Journal A “Housing Start” is a new housing unit on which construction has started.  Building permits are down, too. Housing data is rarely positive or negative on a collective level —...

The FNMA 30 YR 6% Finished Down -6bp today. Given the -427 Sell off in the DOW, we would normally see a Flight to Security (the Bond Market). We did not see the Flight today, this market has indviduals New Flight to Security resulting in Deposits to the Mattress Reserve. mortgagechartnov19

I have successfully finished my Nationwide Mortgage Licensing (NMLS). Find out if your Lender has. If they are not NMLS, ask yourself would you drive with an unlicensed teenager? It’s your Mortgage one of your Largest Financial Investments. It’s your choice!

If the presence of inflation causes mortgage rates to rise, then the absence of inflation should cause mortgage rates to fall.  And, in most markets that’s true. Today, it’s not. Despite a deep dip in consumer prices not seen since 1947, mortgage rates are inching higher this morning. The...