When Is A 5.000 Percent Mortgage Rate Really 3.600 Percent?

January 14, 2009

An oft-touted benefit of homeownership is its tax benefits. However, like most IRS-related items, understanding how the benefits work is not always clear

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Half The Story : The National Housing Inventory Fell In December

January 13, 2009

Home prices are largely based on Supply and Demand. If demand outweighs supply, home prices rise If supply outweighs demand, home prices fall It’s good news for home sellers, therefore, that “used” homes for sale fell 6 percent nationally last month . Less supply often means higher prices.

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Mortgage Markets In Review : January 12, 2008

January 12, 2009

In 2009’s first full week of trading, mortgage bond markets traded back-and-forth, eventually closing the week improved overall. Weekly mortgage rates fell for the first time since mid-December. The most anticipated news of last week was Friday’s jobs report.

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It’s Semi-Official : New Conforming Mortgage Fees Go Into Effect Monday

January 9, 2009

Even though its effective date is April 1, 2009, mortgage applicants should start seeing Fannie Mae’s new fee structure from lenders beginning this Monday, January 12. The reason why Fannie Mae’s mandatory loan fees are hitting lender pricing so far in advance is because lenders can take up to 30 days to package and sell a loan to Fannie Mae post-closing. In effect, this moves the April 1 start date to March 1

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New Fannie Mae Loan Fees Target Condo Buyers, Among Others

January 8, 2009

When conforming mortgages started defaulting en masse in late-2007, mortgage guarantor Fannie Mae created a loss-offsetting, fee-generating scheme dubbed “loan-level pricing adjustments”. The concept was basic: For mortgage applicants with high-risk profiles, collect up-front payments to offset potential long-term losses

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The History of the Internet

January 7, 2009

History of the Internet from PICOL on Vimeo.

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Sure, Mortgage Rates Are Lower, But Mandatory Fees Are Not

January 7, 2009

With respect to mortgage rates, you can’t always believe what you read in the papers. Or what you see. A terrific example is the chart at right

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Top 4 Predictions for Real Estate Market in 2009

January 6, 2009

The New Year is not yet one week old but that’s not stopping market “experts” from predicting what’s in store for 2009. The calls on housing and mortgage rates run the gamut: Home prices have farther to fall Home prices have touched bottom Mortgage rates will dip Mortgage rates will rise Put it all together and it’s clear that the experts have no better idea about the future than you or I. Their guesses are educated ones, but they’re guesses nonetheless

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Mortgage Markets In Review : January 5, 2009

January 5, 2009

Like the rest of the country, mortgage markets were on semi-vacation last week.

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It’s 2009 : Mortgage Loan Limits Fall As Scheduled In "High-Cost" American Cities

January 2, 2009

As part of the Economic Stimulus Act of 2008 , Congress authorized a conforming loan limit increase in “high-cost” areas around the country. Versus the national conforming loan limit of $417,000, for example, a Manhattan home buyer could secure a 2008 mortgage for $725,000 and still be within “conforming” guidelines. Effective January 1, however, those limits rolled back.

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The Fed’s Parting Present For 2008 : Low Mortgage Rates

December 31, 2008

For its last move in an action-filled year , the Federal Reserve announced it will begin buying its pledged $500 billion in mortgage-backed securities next month . For home buyers and mortgage rate shoppers, the timing couldn’t be better.

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How To Shop For Mortgages In A "Vacation Week"

December 30, 2008

Mortgage markets are like any other market — in order for goods to change hands, a buyer and a seller must first reach an agreement to “trade” at a specific price point. In general, the more buyers and sellers there are for a particular item, the easier it is to find that “fair value” and make the deal. An abundant number of buyers and sellers often creates a liquid market in which assets — in this case, mortgage bonds — can be sold rapidly with minimal loss

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Mortgage Markets In Review : December 29, 2008

December 29, 2008

In a week defined by low volume and lack of conviction, mortgage markets idled ahead of the holiday last week.

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For Real Estate Investors, Finding Good Loans Is Tougher Than Finding Good Deals

December 26, 2008

With home prices falling across most parts of the country, investors in real estate are finding good value in certain rental properties. Unfortunately, they’re also finding it harder to get approved for a home loan.

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A Great Combination : Too Many Homes For Sale And Low Mortgage Rates

December 24, 2008

For the first time in over a year, the sales of “used homes” fell below the 5-million unit trendline, helping to push the total home inventory higher by 0.1 percent nationwide. Based on the rate at which homes are selling nationwide, it would take 11.2 months for the existing housing supply to be exhausted.

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The Unexpected "Tax" That The Refi Boom Places On Borrowers

December 23, 2008

In late-November, the Federal Reserve pledged $600 billion to buy mortgage-backed securities. The announcement drove down mortgage rates and started the Refi Boom. Then, the Federal Reserve made a second series of statements after its scheduled meeting last Tuesday, causing mortgage rates to plunge again

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Mortgage Markets In Review : December 22, 2008

December 22, 2008

Mortgage markets improved last week for the second week in row.

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STOP! Before You Open That Store Charge Card To Save 15 Percent…

December 19, 2008

During the holiday season, retailers bombard shoppers with at-the-register offers to “open a charge card and save 15%”.

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You’ll Get The Best Mortgage Rates If You Watch Certain Patterns

December 18, 2008

When it comes to mortgage rates, sometimes it’s better to “act now”.

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How to Shop for a Mortgage and not get Screwed

December 16, 2008

Shopping for a mortgage? How to do it Right! Publish at Scribd or explore others: Consumer Guides and Consumer tips howto Adapted from Sue Woodard’s “4 Critical Questions”

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