Another down week in the Mortgage Backed Security Market, the FNMA 30 YR 4.5% gave up 56bp, which is roughly .375% in Mortgage Rates. The FED continued it MBS Purchase Program, acquiring $24.99BN this week.  The total is now $160.33BN of the allocated $500BN.  The program is set to run until this...

I am back from my Kenneth Zahn CFP® Test prep. My normal Mortgage Rate updates will recommence.  Today Mortgage rates increased by over .25% given the -47bp decline in the FNMA 30 YR 4.5% MBS.  The decline could be contributed to the Treasury Auction and profit takers. Today’s Existing Home sells...

Phoenix, AZ FHA loan limits in Maricopa County have just increased from $271,050 to $346,250. This is a great opportunity to purchase a home.

As far as financial awareness is concerned there are multiple factors to take into consideration when weighing the benefits of purchasing a home.  Yes there are tax breaks and credits and we are looking at the possibility of massive inflation.  “Is Now A Good Time To Buy A Home?”  As discussed...

In Mesa, Arizona, Wednesday, the President presented the Homeowner Affordability and Stability plan, a multi-pronged effort to support the housing market. The story made the front page of nearly every newspaper in the country. The president’s plan is worrisome: Incent mortgage servicers to work...

Conforming mortgages are limited by loan size, based on “typical” housing costs around the country.  The current conforming limit on a single-unit property is $417,000. In 2008, as part of the Economic Stimulus Act of 2008, Congress authorized conforming loan limits increases in “high-cost”...

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Today Mortgage Rates ended where they started.  Prior to Obama’s Foreclosure Plan speech  MBS reached their worst, which I am confident, put lenders fingers on the trigger.  During the speech the majority of the losses were recouped.  Overall we did see a good amount of action in the MBS today,...

View Larger Map Geordie Romer’s most recent post “Mortgage Roundtable II” brings together the TOP Echelon of Mortgage Planners, Professionals and Bloggers to Debate the State of Real Estate Lending.   Geordie’s Post offers an inside look at how 5 Mortgage Professionals see the world...

Today was a surprise day for Mortgage Backed Securities; many prognosticators thought for sure we would see MBS plummet and start pushing Mortgage Rates towards 6% , with the signing of Obama’s Economic Stimulus.  The MBS (FNMA 30 YR 4.5%) acted in contrarian nature and posted a whopping 50pb...