Mortgage Rates April 2, 2009 – Mark To Market

Today FASB announced its decision in favor of relaxing standards on mark-to-market accounting rules.  As discussed in yesterdays post it was speculated that the equity markets would favor relaxed standards and the bond market may not.  This speculation came to fruition as we saw the DOW post a gain of...

Mortgage Rates March 25, 2009 – Oil Prices Are Climbing

Another calm day in the MBS market (FNMA 30 YR 4.5% 101.72) translated into a stable day in Mortgage Rates. SEE REAL TIME MORTGAGE RATES!  Positive News for New Home Sales, February numbers reflected a 4.7% increase.  On the down side prices are down year over year. Don’t look now but oil prices are...

Mortgage Rate Forecast Week of March 9, 2009

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...

First-Time Homebuyer Tax Credit Form

Image via Wikipedia As part of the American Recovery and Reinvestment Act of 2009, the IRS has officially released Form 5405 — better known as the First-Time Homebuyer Credit Form. True to tax code standards, the 10-field form is accompanied by 3 pages of instructions. Form 5405 is a helpful,...

2009 Conforming Loan Limits Return To $729,750 In High-Cost Areas

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...