Mortgage Rates Weekly Review – June, 19 2009 – Rates Heading Lower (Chart)

Another positive week for Mortgage Rates. The Benchmark FNMA 30 YR 5% posted a positive 28bp improvement overall this week.  The newfound lack of confidence in the U.S. recovery coupled with the Geopolitical landscape are contributing factors to the resurgence in lower rates.  Fridays close is a positive...

Mortgage Rates June 5, 2009 – Week Review – I Hate When I Am Right!

Not much to say except is it over yet? As my colleges would say “Stop Being Chicken Little” although this time I might be right? Over the last eight (8) days MBS have been getting there you know what handed to them.  This does not translate good for consumer Mortgage Rates. End of market pricing 5.25%...

Using First-Time Homebuyer Tax Credits – Cannot Be Used For The 3.5% Required Down Payment

The First-Time Homebuyer Tax Credits – Cannot Be Used For The 3.5% Required Down Payment. •    Pursuant to 12 U.S.C. 1709(b)(9), the homebuyer’s downpayment required for eligibility for FHA insurance may not consist of any funds (including funds derived from a sale of the homebuyer tax credit)...

Mortgage Rates April 27, 2009 – Weekly Forecast

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”,...

What Is A Reverse Mortgages

With reverse mortgages seniors now have some additional cash-flow alternatives. This type of loan allows mature borrowers to convert their home equity into tax-free income without leaving their current home or making mortgage payments – and they do not need an existing income to qualify. How does a...