government assistance mortgage

How Today’s Jobs Report Surprised Traders

January 5, 2007

This morning’s Non-Farm Payrolls report (i.e. the number of new jobs created for industries other than farming) registered a 167,000 gain in November This is tremendously higher than the 115,000 jobs economists had predicted. Markets were caught leaning in the wrong direction after an ADP report released Wednesday said that 40,000 jobs were likely lost […]

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Once Bitten, Twice Shy: ADP Says Jobs Were Lost in December

January 4, 2007

This summer, economists were predicting that 175,000 new jobs were created in June and then payroll processor ADP shared their own estimate of 368,000 with the markets. In a panic, mortgage rates moved higher because – well, what if ADP was right?!? The actual figure turned out to be 121,000. That major miss jolted the […]

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Sub-Prime Lenders Eliminate Loans To Riskiest Borrowers

January 3, 2007

Washington Mutual-owned Long Beach Mortgage announced yesterday that its underwriting guidelines are changing, effective Monday, January 8. Following the lead of a host of other sub-prime lenders including large-players Fremont and New Century, Long Beach is hoping to avoid the fate of sub-prime lenders Ownit, Sebring Capital, and Mortgage Lenders Network. All three closed their […]

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Markets Closed in Observance of President Ford’s Death

January 2, 2007

In observance of President Ford’s death, the NYSE, NASDAQ and the Federal Reserve Board are closed today. This marks the first time that markets are closed for four consecutive days since the days following the attacks on September 11, 2001. Despite the closures, the Federal Reserve’s regional banks will continue to operate as usual so […]

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Vacation Days Are Good – Unless You’re The One Left Behind

December 29, 2006

As we head into the last day of trading in 2006, there are a lot of market players that have already left for the long weekend. That’s good for them, but rough for everyone else left behind. With so many traders on vacation this week, there are fewer buyers and fewer sellers at any given […]

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New Homes Sales Is Less Important Than New Homes Closed

December 28, 2006

Yesterday’s New Home Sales report revealed the following signs of immense strength in the housing sector and mortgage rates are moving higher on the news. Sales registered 1.047 million versus the expectation of 1.015 million — a difference of 3.15%. Sales were revised higher by 46,000 over the past three months. Inventory levels dropped to […]

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It’s not the House that matters, it’s the Stuff you buy for the House that Does

December 27, 2006

With many traders on vacation this week, the impact of economic reports on mortgage rates will be amplified. Specifically, be wary of this week’s New Home Sales and Existing Homes Sales reports. Since July, the Fed has repeatedly told us that housing will lead to an economic slowdown. As a result, markets have placed housing […]

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Principal Payback On Long-Term Loans

December 27, 2006

Did you know: After 30 years, a 30-year mortgage term is paid in full. After 30 years, a 40-year mortgage term has 57% of the original borrowed amount remaining. After 30 years, a 50-year mortgage term has 81% of the original borrowed amount remaining. Of course, it’s not all bad for the holders of longer-term […]

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It’s Not The House That Matters, It’s The Stuff You Buy For The House That Does

December 26, 2006

With many traders on vacation this week, the impact of economic reports on mortgage rates will be amplified. Specifically, be wary of this week’s New Home Sales and Existing Homes Sales reports. Since July, the Fed has repeatedly told us that housing will lead to an economic slowdown. As a result, markets have placed housing […]

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Thank you for your Request!

December 2, 2005

Your E-Book should be on it’s way to your email address. Please be sure to check your spam folder as it may very well have gone in there. The title of the email should be “Your Homebuyer Handbook” ENJOY! Steve Heideman President United Mortgage Financial Group

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