Mortgage Rates improved slightly today. See Real Time Mortgage Rates This week, there isn’t much economic news upon which to trade, save for Thursday Retail Sales data.  Therefore, markets will look for other clues about the future of the U.S. economy. Tuesday, Fed Chairman Ben Bernanke has a...

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,...

The week started out in a positive manner with rates improving both Monday and Tuesday, only to stall out on Wednesday and give back the majority of the gains Thursday and Friday. Mortgage Backed Securities ended the week with only a slight 3bp gain over last week. Friday we saw MBS give up -28bp (FNMA...

What a way to start the week!  Mortgage Rates improved slightly today, look for even better pricing tomorrow, after MBS (FNMA 30 YR 4.5%) posted a healthy 38pb improvement.  Check Real time Mortgage Rates. For the technical’s Friday looked to be Morning DoJo, this could be the starting point...

Lending is in an evolutionary phase as I type this; the way in which loans are done is evolving into a process of approval first, rate lock last, which is the opposite of how it used to be. In the past, we locked rates, even if we were not sure the loan could even be done, and then just tried to make...

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...

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...

Short sales are different than bank-owned/foreclosure/repo homes, and also different than regular resales. They are a strange mix of the two. With a short sale, the owner still technically owns their home, but owes more on their mortgage than what the home is worth. Therefore, in order to sell, they...

“I used Turbo Tax” responded Timothy Geithner, “it was me not the software” at his Senate Finance Committee hearing.  As Bill Winterberg  CFP® Twitter (@BillWinterberg) commented “think one must override TurboTax’s automatic calc of SE tax and SE 1/2 deduction”.  My question is...