A Mortgage Rate Prediction For The Next 7 Days (August 12, 2010)


The Fed set mortgage rates downward this week, but now is not the time to wait-and-see where rates go next. A turnaround could happen just like .

Mortgage Rates at 50-Year Low


Who is getting a mortgage these days? Just about anybody with a higher interest rate who can qualify. That’s not necessarily home buyers, though. The bulk of the mortgage business in in refinances and home equity loans right now. Even I am refinancing my home. I have a 30-year mortgage around 5%. It makes financial [...]

The Fed’s Official Statement And What It Means To The Mortgage Market (August 10 2010)


The Fed re-affirmed its plan to hold the Fed Funds Rate near zero percent “for an extended period” today. Mortgage rates remain low and the Refi Boom continues.

Low Mortgage Rates Are Not Enticing Home Buyers


Basically, the federal home buyer tax credit program is over. Oh, there are still those hapless buyers stuck in some delayed short sales who will still get the credit if they can manage to close by September 30th and signed a contract before April 30th, but there is no stimulus left in the market place. [...]

TV Interview : FHA Premiums, Jumbo Mortgage Guidelines, And Mortgage Rates


I gave a 2-part interview with Beejal Patel of First Business television. This is the second part. We talk about FHA mortgage insurance premiums, jumbo mortgage changes, and the impact of double-dip recession on the economy.

Mortgage Rates Are Lower After June’s Jobs Report (But Shouldn’t Be)


No matter what you think about your mortgage qualifications — too little equity, too little income, too big of a loan size — take 5 minutes out of your day to call your loan officer. Find out whether you qualify for a mortgage at today’s rates. Sure, rates may fall lower, but, then again, [...]

In Charts : Mortgage Rates Don’t Correlate To The Fed Funds Rate


When the Federal Reserve makes a vote on the Fed Funds Rate, it’s voting on the rate at which banks borrow from each other. The Federal Reserve is NOT voting to change consumer mortgage rates because, based on its government charter, it can’t. Look to Wall Street for that, instead.

TV Interview : Existing Home Sales, The Tax Credit, And Mortgage Rates


I gave a 2-part interview with Beejal Patel of First Business television. This is the first part. We talk about the economy, home sales and mortgage rates.

How Shopping For Mortgage Rates Is Like Shopping For A Suit


When people visit national mortgage sites for “rates”, what they’re looking is for something akin to a MSRP for Mortgages; a way to keep their lender honest about rate quotes and such. Sadly, markets don’t work that way. You can’t visit a national website for a single mortgage rate any more than that you [...]

Turning The Weak May 2010 Jobs Report Into Mortgage Rate Savings


The number of private-sector jobs created last month fell well short of expectations. Stock markets are off, bond markets are up, and mortgage rates are lower. If you’ve been shopping, it’s a terrific day to lock a mortgage rate.