These are “SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS.RUN.DON’T WALK. RUN.TO A LENDER THAT DOES!” When Bernanke and the Fed “change rates”, what does this mean. and what impact does this have on mortgage interest rates? The...

Friday Mortgage Backed Securities (FNMA 30 YR 4%) finished positive for the day, although posting a loss of -.625bp for the week.  That said Mortgage Rates finished higher for the week and month (see chart).  Check Real Time Mortgage Rates. For a fourth consecutive QT the GDP posting loss of -3.8%. ...

Question 2 for the Mortgage Rate Shopper. What is the next Economic Report or event that could cause interest rate movement? A professional lender will have this at their fingertips, and will have the ability to explain the reason behind the economic impact and the effect it has on Mortgage Backed Securities.

What a day in the Mortgage market! Mortgage Backed Securities (MBS) were taken out behind the woodshed today. The FNMA (30 YR 4.0%) MBS shed -78bp, which is a huge one day move.  Lenders were slow to pull the trigger on re-pricing today, by day end I only counted 2 deteriorating market emails from the...

Over the next few days I am going to provide readers and Mortgage Rate Shoppers with information on how to correctly and effectively shop Mortgages. These are “SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS.RUN.DON’T WALK. RUN.TO A LENDER...

“The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth and to preserve price stability.” (FOMC PR) The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today.  It remains within a target range of 0.000-0.250...

Mortgage Rates improved today after MBS posted a 28bp gain. (See Real Time Rates) After the lowest Consumer Confidence number since they started tracking it in 1967. The Fed started its 2-day meeting this morning. Whose listening and what are they going to say? They have already reduced the Fed Funds...

Caveat emptor…  the majority of Loan Mod companies in existence are not legit.  I have not found one that can guarantee or promise a Mod.  They have no problem overloading individuals with statistics, such as 97% response rate.  Guess what, by calling your lender and talking to a customer service...

Image by respres via Flickr If you are planning on buying an foreclosure home it is imperative that you work with an Realtor that is well versed with foreclosure transactions. Each bank has their own set of guidelines and many to not acknowledge the Arizona Real Estate Purchase Contract so the...

Mortgage guidelines continue to change, add this to the New Mortgage Guidelines 2009 list. Lenders who sell their paper to Fannie Mae and Freddie Mac (the majority of Lenders) have implemented a new guideline for individuals who are prospective Mover Uppers and Investors. The three facets prospective...