Mortgage rates fell slightly in a week that included a bank failure, more oil price spikes, and questions about the health of the nations’ mortgage market. Rates would have fallen more if not for a late-Friday sell-off that added 0.125 percent to most products.
As financial markets fell under stress, most people missed the strong points […]
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Jul
14
Looking Back And Looking Ahead : July 14, 2008
Category: Consumer Insight, Fannie Mae, Federal Reserve, Freddie Mac, Volatility | 
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Jul
7
Last week was fairly uneventful in the mortgage markets, with rates slightly edging lower across the board and without much data to influence trading.
Even Thursday morning’s hotly-anticipated jobs report was met with lukewarm interest; many traders had already left for the weekend.
Mortgage rates just drifted — a little up and little down, but mostly unchanged.
Mortgage insiders may […]
Jul
1
Why Mortgage Rates Could Fall Because Of Midwestern Farmers
Category: Consumer Insight, Rates | Leave a Comment
As flood waters ran through Iowa and other Midwestern states, the nation’s corn supply was thought to be in danger.
Prices spiked in the wake of the floods, adding to the already-peaking grocery bills that many Americans are now bearing.
But yesterday, in a surprise report, the Agriculture Department said that many farmers had over-planted corn earlier […]
Jun
27
What To Do When Your HELOC Is Reduced By The Bank
Category: Consumer Insight, Home Equity Line of Credit | 1 Comment
A Home Equity Line of Credit is bank product that grants homeowners access to the equity in their home at anytime, usually using checks.
Often called a HELOC, these equity-based credit lines function very much like credit cards:
The rate is adjustable, tied to Prime Rate
There is a minimum monthly payment
There is a pre-set spending/credit limit
But different […]
Jun
24
Most homeowners make four housing-related payments each month:
Principal on a mortgage
Interest on a mortgage
Taxes on the real estate owned
Insurance for the real estate owned
Collectively, these payments are known by the acronym PITI but don’t let it fool you — a homeowner’s monthly expenses are still called PITI even if one or more of the elements doesn’t […]
Jun
17
Still Sitting on the fence?? Just don’t fall off!
Category: Buzz, Consumer Insight | Leave a Comment
In the U.S., home prices dropped at the sharpest rate in two decades during the first quarter of 2008, and prices nationwide are at levels not seen since the third quarter of 2004, according to Standard & Poor’s/Case-Schiller.
That means it is time to get off the fence and put a plan […]
Jun
17
Each month, University of Michigan researcher survey the U.S. population about their thoughts on the economy — is it improving, it is worsening, is it staying the same.
May’s consumer confidence survey registered it’s lowest reading since 1980.
Given the recent headlines, that shouldn’t be surprising:
Unemployment is spiking
Gas prices are at an all-time high
Housing markets keep getting bad […]
