Recent News

Mortgage Rate Velocity Takes Off; Leaves Rate Shoppers In Its Dust

Since the start of June, mortgage rates are changing with alarming frequency. It's an all-time high for Mortgage Rate Velocity. You need to see these stats.

The Mortgage Refi Boom Of 2011 Has Officially Begun

Mortgage rates have dropped for 8 straight weeks, signaling the start of a new Refi Boom. Don't watch this one pass. It won't last long. Exploit it while you can.

Don’t Pay Closing Costs When Mortgage Rates Are Falling

Zero-cost mortgages are terrific in a falling interest rate environment, like the one we're in now. They eliminate sunk costs completely and offer an immediate refinance payback.

Tracking Mortgage Rate Movement Around A 3-Day Weekend

Mortgage rates across the state are near year-to-date lows, but locking them in this week may be difficult. Memorial Day can mess with mortgage markets.

As Home Resales Stagnate, Distressed Homes Sell At 20% Discount

At the current sales pace, it would take 9.2 months to exhaust today's home inventory. It's almost 1 month worse than March, and the worst reading of the year.

Mortgage Newsflash : A New Refi Boom Begins; Banks Open Floodgates; Maximum Loan Sizes Dropping

Mortgage rates are falling, mortgage guidelines are easing, and conforming loan limits are dropping. There's a lot going on in mortgages right now and this 119-second mortgage video covers it all.

The (Forthcoming) End Of The $729,750 Conforming Loan Limit

Temporary conforming loan limits in high-cost areas are expiring. After September 30, 2011, places like Loudoun County, Virginia; Potomac, Maryland; and Marin County, California will face new, lower conforming loan limit sizes.

Using Photomosaics To Show That All Real Estate Is Local

There's an old saying that goes "All Real Estate Is Local". See it in pictures.

5 Days Left : $8,000 “Free” Via The Federal Homebuyer Tax Credit Program (Military Edition)

For certain members of the government and military, the clock is ticking on the 2010 federal home buyer tax program. You must be under mutual contract for a home on or before April 30, 2011 to meet program deadlines, and claim up to $8,000 in credits.

How To Beat The April 18, 2011 FHA Mortgage Insurance Increase

FHA mortgage insurance rates are increasing. Beat the increase by having your FHA Case Number assigned. All you have to do is give a mortgage application. I'll handle the rest for you.

FHA Mortgage Insurance Premiums Rising 0.25 Percent April 18, 2011

To lower costs, newspaper editors are replacing beat writers with "article syndication". Syndication can be a good strategy, but it requires care. The syndicated article highlighted here is 11 months -- and 2 FHA guideline changes -- behind-the-times. It's patently incorrect.

Spring 2011 : Jumbo Mortgage Products At Conforming Mortgage Interest Rates

Over the last 60 days, bank checking accounts are paying 38% more interest, and interest rates are approaching a 2-year high. It's an insider's signal that a surge in jumbo mortgage rates is coming.

Mortgage Rates Reach A Milestone; Rise For The 7th Straight Day

Mortgage rates are getting slaughtered this month; rising every day since January ended. It's an historic losing streak for conventional mortgage rates.

Selling Within 5 Years? Switch To An Adjustable-Rate Mortgage. Seriously.

The 5-year ARM is the cheapest it's been in history relative to the 30-year fixed. If you're selling within the next 5 years, you'll save lots of money -- safely -- with an ARM.

TV Interview : Loan Fees Rising, Mortgage Rates Rising, Housing On The Mend In 2011

I returned to the First Business television studios this week to talk mortgages and housing. The interview covers (1) Why conforming mortgage applicants will pay more fees in 2011, (2) The outlook for Spring Housing, and (3) Why mortgage rates are headed higher long-term.

The Mortgage Rate Roller Coaster : Take A Dizzying Ride Through 2010

Leave your metaphors at home. Take a front-row seat on an actual 2010 Mortgage Rate Roller Coaster, mapped to scale 100%. Just be sure to strap yourself down.

Use Your Mortgage To Take A Last-Minute Tax Deduction Boost For 2010

Want to increase the size of your 2010 tax deductions? Consider making your upcoming January 2011 mortgage payment while the calendar still reads 2010.

TV Interview : Housing Growth Outlook, The End Of The Refi Boom, Mortgage Rates

I gave a television interview with Beejal Patel of First Business. The timing was excellent given the FOMC had just adjourned. In 3-and-a-half minutes, the interview covers a lot of ground. Watch it now.

Winter 2011 : “Cheat Sheet” For The New Fannie Mae Guidelines

In Winter 2011, Fannie Mae changed its mortgage guidelines to favor personal income over personal assets. Check the "Cheat Sheet" to see how you'll be affected.

Is It The Sensible Move? Refinancing From An ARM To A Fixed Rate Mortgage.

Overwhelmingly, refinancing homeowners are choosing fixed rate mortgages over adjustable ones. But is it logical? Go deep on the numbers and see for yourself.