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...

#HVCC CALL TO ACTION

To: All Mortgage Brokers, Real Estate Agents, Appraisers, Lenders, Home Builders, Title Agents, and Consumers From: Marc Savitt, President- National Association of Mortgage Brokers After more than a year of exhaustive negotiations with Fannie Mae, Freddie Mac, James Lockhart, Director of FHFA (GSE...

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 Rate Forecast June 1, 2009 (Chart)

June 1, 2009 started as another brutal day in the Mortgage Market. On top of the negative bankruptcy news for GM Mortgage Rates increased after a nice head fake last Thursday and Friday.  After reaching as low as 4.375% on a 30 YR in May. Mortgage Rates came in like a lamb and left like a lion (see May 2009...