Separating FHA Fact From Fiction : Mortgage Insurance Premiums

February 10, 2010

Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what’s coming next. Recently, we saw this with respect to FHA home loans.

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Mortgage Approvals Are Getting More And More Scarce

February 9, 2010

The economy’s improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by. Underwriting guidelines are tightening.

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Whats Ahead For Mortgage Rates This Week : February 8, 2010

February 8, 2010

Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week.

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The January 2010 Jobs Report May Lead Mortgage Rates And Home Prices Higher

February 4, 2010

On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls data from the month prior. The data is more commonly known as “the jobs report” and it swings a big stick on Wall Street. Especially now — many analysts believe job growth is tightly linked to the future of the U.S. economy.

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Pending Home Sales Predicts A Stronger Spring Market

February 3, 2010

A Pending Home Sale is a home that is under contract to sell, but not yet sold. It’s a figure compiled by an industry group using sales data from over 100 regional listing services and more than 60 large brokerages around the country.

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Simple Real Estate Definitions : Short Sale

February 2, 2010

A “Short Sale” is when a home seller sells his home for a lesser amount than what is owed on his mortgage, and the mortgage lender agrees to accept the lesser amount in lieu of a full payoff.

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What’s Ahead For Mortgage Rates This Week : February 1, 2010

February 1, 2010

In a news-heavy week, mortgage markets improved last week, adding to a 3-week rally. But, given last week’s data and domestic story lines, it’s surprising that rates actually fell.

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Home Values Rose In November 2009 By Another 0.7 Percent

January 29, 2010

Reporting on a two-month lag, the government said home values rose 0.7 percent in November. National home prices are at their highest point since February 2009. But before we look too much into the FHFA’s Home Price Index, it’s important that we’re cognizant of its shortcomings; the most important of which is its lack of real-time reporting.

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A Simple Explanation Of The Federal Reserve Statement (January 27, 2010 Edition)

January 27, 2010

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy “has continued to strengthen”, that the jobs markets is getting better, and that financial markets are supportive of growth.

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A Rate-Locking Strategy Ahead Of The Fed’s Meeting Today

January 27, 2010

The Federal Open Market Committee ends a scheduled, 2-day meeting today in Washington. It’s the first of 8 scheduled meetings for the policy-setting group in 2010. The group adjourns at 2:15 PM ET. Here is a rate-locking strategy for you.

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