Both mortgage guidelines and the economy have tightened since 2006, bringing more attention to “joint homeowners” — non-spousal partners that buy and share a home as roommates. The practice is not new, but, anecdotally, co-purchasing is becoming more common. In the video above —...

It’s already May, and time for another Mortgage Rate Watch May 2009 – May 2009 Mortgage Forecast Loans closed in May will have first payment dates of July 2009. If April was a harbinger of things to come for May, Homeowners and Homebuyers will be the proud recipients of stable LOW Historic Mortgage...

The Federal Reserve adjourned from its two-day meeting this afternoon.  It’s one of 8 scheduled meetings each year for the Federal Open Market Committee. Although the FED announced to keep the FED Funds target unchanged, MBS gave up ground with the 30 YR FNMA 4.0% pulling back 22bp.  Mortgage...

Monday April 27, 2009 was a great way to start the week, as the FNMA 30 YR 4.0% MBS posted a healthy 18bp improvement today.  If the past 4 weeks dictate the future, mortgage rates will start and end the week essentially unchanged. For active home buyers who have yet to find the “right home”,...

Simple! Refinance Your Mortgage for Rate and Payment Reductions Homeowners refinance for different reasons, but the process of refinancing a mortgage should result in some benefit to the homeowner.  A borrower may choose to refinance to obtain a lower interest rate and a lower monthly payment, or change...

Mortgage Rates increased today as the FNMA 30 YR MBS 4% gave up roughly 9bp.  This down tick in the MBS can be attributed to the late day mini rally in the equities market as JP Morgan Chase beats estimates as it releases earnings. Both Building Permits and Housing Starts were released today.  Building...

What Is A Streamline FHA Refinance The Traditional and Original FHA Streamline which I still offer consist of the following: NO Appraisal NO FICO Score NO Income Verification NO Asset Verification After reading that there is little to nothing in order to qualify; you are probably asking what’s the...

The appraisal process often baffles consumers. They may feel that their home is worth a higher dollar amount, and so the appraised value doesn’t always make sense to them. It is important to know that the appraiser is completely independent from lenders, buyers, sellers, and real estate agents,...

Today was a calm day in the Mortgage world.  Mortgage Rates held steady, in comparison to the Mortgage markets ups-and-downs last week as rates fell Monday and Tuesday before surging higher from Wednesday through Friday. In some case, after touching all-time lows, conforming mortgage rates added a...

Image via Wikipedia Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” More than 200 years later, this certainly holds true. And while being a homeowner won’t add years to your life, the modern tax code has a number of benefits...