Articles by Subject

Home Prices Show Strong 2nd Quarter Increase

By:
Kirk Haverkamp - MortgageLoan.com | August 31, 2010

U.S. home prices increased 3.1 percent the second quarter of the year, spurred by seasonal factors and the expiring federal tax credit, according to figures released today by secondary mortgage lender Freddie Mac.

Home Prices Up, But Show Signs of Slowing

By:
Peter King - MortgageLoan.com | August 31, 2010

U.S. home prices posted significant gains in June, but other recent signs are pointing to what could be a bumpy road ahead for the housing market.

Five Reasons to Refinance Your Home

By:
Barbara Eisner Bayer - MortgageLoan.com | August 31, 2010

Winston Churchill once said, “there is nothing wrong with change, if it is in the right direction.” The same reasoning applies to home refinancing. You can improve your financial situation with a mortgage refinance -- as long as you pursue this change for the right reasons.

Lowering the rate 

Mortgage Rates Feed on Data, August 31, 2010

By:
David Coster - MortgageLoan.com | August 31, 2010

Mortgage Rate Trend Direction:     Down

Economic Reports/Rate Impact:    Chicago PMI, 10:00 AM ET, Moderate Rate Impact

                                                              Consumer Confidence, 10:00 AM ET, Moderate Rate Impact

One in Four Opt for 15-Year Mortgage When Refinancing

By:
Kara Johnson - MortgageLoan.com | August 30, 2010

Homeowners able to refinance their mortgages are increasingly looking to shorten up the term by converting to a 15-year loan, according to the financial data company CoreLogic. 

Budgeting for Your Jumbo Mortgage

By:
Barbara Eisner Bayer - MortgageLoan.com | August 30, 2010

Planning ahead has its advantages. It can keep you out of trouble with the IRS, protect you from financial disaster, and help you retire in style. More immediately, thoughtful planning can bolster your confidence about purchasing that expensive home you’ve been eyeing.

Mortgage Rates: New Week, New Inspiration, August 30, 2010

By:
David Coster - MortgageLoan.com | August 30, 2010

Mortgage Rate Trend Direction:     Down

Economic Reports/Rate Impact:    Personal Spending/Income, 8:30 AM ET, Moderate Rate Impact

Key News:                                           National Association for Business Economics Survey

 

Summary

 

Mortgage Rate Re-Pricing Alert 1:20 PM ET, August 30, 2010

By:
David Coster - MortgageLoan.com | August 30, 2010

Mortgage pricing is improving this afternoon as the stock market has continued to move lower while mortgage-backed securities (MBS) have gained. Following President Obama's Rose Garden statement on the economy, the MBS markets continued higher. The president said very little that could be interpreted as new or encouraging relative to our economy.

Mortgage Delinquencies, Foreclosure Starts Decline

By:
Kara Johnson - MortgageLoan.com | August 27, 2010

Rates of mortgage delinquencies and foreclosure starts fell in the second quarter of the year, raising hopes that economic pressures on homeowners may be easing. 

Chicago Fed Chief: Educate Borrowers to Avoid Defaults

By:
Kirk Haverkamp - MortgageLoan.com | August 27, 2010

Educating borrowers to make better financial decisions might be a better way to protect them from risky mortgage products rather than banning such products entirely, one of the governors of the Federal Reserve has proposed. 

Foreclosures Leave Fewer Mortgages Underwater

By:
Peter King - MortgageLoan.com | August 27, 2010

The number of “underwater” mortgages declined in the second quarter of the year, but that’s mainly because some of those borrowers lost their homes to foreclosure, according to a new report out this week. 

Mortage Rates Weekly Review, August 27, 2010

By:
David Coster - MortgageLoan.com | August 27, 2010

"Double, Double Toil and Trouble" are Bonds in America Headed for a Bubble

 

In Act 4 of Shakespear's Macbeth, three Scottish witches are making a potion designed to heap double the amount of "toil and trouble" on the new King Macbeth.  They create their potion by combining all sorts of nasty and disgusting items into a veritable stew of vileness.  Some of the ingredients are familiar to those who have read or listened to the passage: eye of newt, toe of frog, and the like. 

Mortgage Rate Re-Pricing Alert 11:00 AM ET, August 27, 2010

By:
David Coster - MortgageLoan.com | August 27, 2010

Mortgage rates may re-price higher this morning. As expected the stock market and the mortgage-backed securities (MBS) market reacted immediately to the downward revision of 2nd quarter GDP.  Then the markets reacted to the comments of Federal Reserve Chairman Ben Bernanke this morning at the Jackson Hole Economic Summit.  Initially, the reaction was negative as no new initiatives were announced to stimulate the economy.  But as predicted, further review of his comments resulted in a more positive assessment by analysts and traders.

Mortage Rates Respond to GDP, August 27, 2010

By:
David Coster - MortgageLoan.com | August 27, 2010

Mortgage Rate Trend Direction:    Up

Economic Reports/Rate Impact:   Revised GDP, 8:30 AM ET, High Rate Impact

                                                            Consumer Sentiment, 10:00 AM ET, Low Rate Impact

Four Ways Home Equity can Help Fund Retirement

By:
Barbara Eisner Bayer - MortgageLoan.com | August 27, 2010

It was soon after ’64 when the Beatles imagined what life would be like when they were 64. They saw a simple life -- knitting a sweater by the fireside, mending a fuse when the lights were gone, and renting a cottage every summer in the Isle of Wright. But with retirement accounts shriveling up, where will today’s seniors find the funds for life’s simple pleasures? The answer may be found in their home equity.

Mortgage Rate Re-Pricing Alert 2:20 PM ET, August 26, 2010

By:
David Coster - MortgageLoan.com | August 26, 2010

Mortgage pricing may improve this afternoon. The stock market has turned negative and the mortgage-backed securities market has rallied in anticipation of a major negative revision to Gross Domestic Product figures for the second quarter and lowered forcast for the balance of 2010.

Long-term Mortgage Rates Keep Falling

By:
Kirk Haverkamp - MortgageLoan.com | August 26, 2010

And they keep going down, with no bottom in sight.

Mortgage Rates Like the Environment, August 26, 2010

By:
David Coster - MortgageLoan.com | August 26, 2010

Mortgage Rate Trend Direction:     Neutral/Down

Economic Reports/Rate Impact:    Jobless Claims, 8:30 AM ET, High Rate Impact

Key News:                                          Jackson Hole Economic Summit

 

Summary

 

Mortgage Loan Modification? Beware of Impact on Credit Score!

By:
Barbara Eisner Bayer - MortgageLoan.com | August 26, 2010

When a tornado veers towards your neighborhood, you must choose the course of action with the fewest negative consequences. Generally, this means grabbing some canned foods and heading for the basement. The same rule applies when you can’t keep up with your mortgage payments. To keep your home, you may have to proceed with a loan modification, even if that means your credit score (FICO) will suffer. 

New Home Sales Fall to Record Low

By:
Kara Johnson - MortgageLoan.com | August 25, 2010

New home sales fell to their lowest rate on record in July, falling to an annual rate of 276,000 units, according to figures released this morning by the Commerce Department. 

Newer Loan Modifications Less Likely to Redefault

By:
Kirk Haverkamp - MortgageLoan.com | August 25, 2010

Fewer homeowners with mortgage loan modifications are falling back into default, casting doubt on predictions that most of these borrowers will eventually go into foreclosure anyway.

A new report found that homeowners who obtained loan modifications in 2009 were about half as likely to become seriously delinquent within six months as were borrowers whose mortgages were modified the year before. That’s according to the State Foreclosure Prevention Working Group, which released the report Tuesday.

Recent modifications more likely to reduce payments

 

Mortgage Rates Look to Fall Further, August 25, 2010

By:
David Coster - MortgageLoan.com | August 25, 2010

Mortgage Rate Trend Direction:     Down

Economic Reports/Rate Impact:    Durable Goods Orders, 8:30 AM ET, Moderate Rate Impact

                                                              New Home Sales, 10:00 AM ET, Low Rate Impact

Benefits of Fixed-Rate Mortgages

By:
Barbara Eisner Bayer - MortgageLoan.com | August 25, 2010

In the gambling world, it’s a bad thing if a race is fixed. But in the mortgage world, it can be extremely beneficial if a loan’s rate is fixed. There are multiple benefits that make this type of borrowing the total opposite of a gamble.

How a fixed-rate mortgage works

Mortgage Rates Run for the History Books, August 24, 2010

By:
David Coster - MortgageLoan.com | August 24, 2010

Mortgage Rate Trend Direction: Down

Economic Reports/Rate Impact: Existing Home Sales, 10:00 AM ET, Moderate Rate Impact

Key News: US Political Primaries

 

Summary

 

Home Sales Plunge in July

By:
Peter King - MortgageLoan.com | August 24, 2010

Existing home sales plummeted in July, dropping 27.2 percent to an annual rate of only 3.83 million, according to the National Association of Realtors. 

Handling a HELOC Freeze

By:
Barbara Eisner Bayer - MortgageLoan.com | August 24, 2010

The mortgage crisis and subsequent tightening of credit by lenders has made tapping home equity more challenging. People who took out a home equity line of credit (HELOC) before the crisis occurred have been thanking their lucky stars that they still have access to funds, especially if they lost their jobs, had emergency medical expenses, or experienced a reduction in the value of their portfolios. Unfortunately, some banks started to freeze those credit lines, making that last lifeline unavailable to those who needed it most.

Americans Scale Back Desires for Home Ownership

By:
Kirk Haverkamp - MortgageLoan.com | August 24, 2010

Americans’ aspirations about homeownership are becoming more modest, envisioning smaller homes for themselves when they think about buying a home at all. 

Mortgage Rates Start Week Quietly, August 23, 2010

By:
David Coster - MortgageLoan.com | August 23, 2010

Mortgage Rate Trend Direction:     Neutral

Economic Reports/Rate Impact:    No economic reports released today

Key News:                                           M&A Activity

 

Summary

 

New Web Site Helps Sort Through Loan Modification, Refinance Options

By:
Peter King - MortgageLoan.com | August 23, 2010

Financially pressed homeowners have a new tool to help them sort through their options for reducing their mortgage payments and avoiding foreclosure. 

Reverse Mortgages and Second Marriages

By:
Barbara Eisner Bayer - MortgageLoan.com | August 23, 2010

When Frank Sinatra crooned “Love is lovelier the second time around…just as wonderful, with both feet on the ground,” he extolled the virtues of second marriages. Falling in love later in life, when you’ve accumulated significant assets, can be complicated, especially when it comes to protecting your loved one in case your time is up before hers. This is especially true if you have a reverse mortgage, because if it’s jointly held in the name of you and your first spouse, your newly beloved may lose your home if you were to pass first.

Mortage Rates Weekly Review, August 20, 2010

By:
David Coster - MortgageLoan.com | August 21, 2010

It has been said by somebody's Moma, I suppose, that "sometimes you've simply got to take your medicine".  Usually such an admonition would come during a period in which a child is dealing with the consequences of making a poor choice.  Such is the case, I believe with the US economy.

Enrollments in Loan Mod Program Dwindle

By:
Kara Johnson - MortgageLoan.com | August 20, 2010

The number of homeowners entering the government’s Making Home Affordable mortgage loan modification program has fallen to a new low, even as new foreclosures are increasing. 

Homeowners More Pessimistic About Housing Market

By:
Kirk Haverkamp - MortgageLoan.com | August 20, 2010

Homeowners have grown more pessimistic about the direction of the U.S. housing market, with one-third saying they believe home prices have yet to hit bottom. 

Mortgage Rates Continue Record Run, August 20, 2010

By:
David Coster - MortgageLoan.com | August 20, 2010

Mortgage Rate Trend Direction:     Neutral/Down

Economic Reports/Rate Impact:    No official economic reports released today

Key News                                            Global economic slowdown fears  

 

Summary

 

Home Refinancing Checklist

By:
Barbara Eisner Bayer - MortgageLoan.com | August 20, 2010

Italian composer Gioacchino Rossini once said, “Give me a laundry list and I’ll set it to music.” Imagine the composition he could have been inspired to create with a list of documentation needed for a mortgage refinance!

Getting Answers: Seven Questions for your Mortgage Lender

By:
Barbara Eisner Bayer - MortgageLoan.com | August 19, 2010

Mortgage rates are low, and applications are up. If you’re shopping for a mortgage, you’re entering a world where there’s a lot of information you may know little about. Don’t feel embarrassed -- information about mortgage rates and closing costs aren’t taught in school, so unless you’ve worked in the industry, it’s perfectly normal for you not to know what to look for. Remember that you’re the customer, and the mortgage lender is trying to get your business.

Understanding Credit Scores: FICO vs. VantageScore

By:
Kara Johnson - MortgageLoan.com | August 19, 2010

Checking your credit score is one of the first things borrowers are urged to do when shopping for a mortgage. But these days, you need to know which type of credit score you’re getting. 

Debt, Delinquencies Down, But Foreclosures Up

By:
Kara Johnson - MortgageLoan.com | August 19, 2010

U.S. consumer debt, including mortgages and home equity loans, declined again in the second quarter of the year, as declines in home values and high unemployment continued to put the squeeze on household budgets. 

Mortgage Rates Hover Near Records, August 19, 2010

By:
David Coster - MortgageLoan.com | August 19, 2010

Mortgage Rate Trend Direction:     Neutral/Down

Economic Reports/Impact:              Jobless Claims, 8:30 AM ET, High Rate Impact

Mortgage Rate Re-Pricing Alert 10:00 AM ET, August 19, 2010

By:
David Coster - MortgageLoan.com | August 19, 2010

As indicated in our mortgage rate overview this morning, a surprise to the downside in the Philadelphia Fed Index could result in mortgage pricing improvements. The report was far more negative than anticipated and mortgage-backed securities rallied significantly. Mortgage pricing is improving as a result.

30-Year Rates Fall for 9th Straight Week

By:
Peter King - MortgageLoan.com | August 19, 2010

Fixed-rate mortgages fell to new lows again this week, edging slightly downward in the weekly Freddie Mac rate survey. 

Refinance Applications Jump 17 Percent

By:
Kirk Haverkamp - MortgageLoan.com | August 18, 2010

Applications to refinance an existing mortgage surged last week, hitting their highest point since May 2009.
 
Refinance applications jumped 17.1 percent for the week, according to the weekly survey from the Mortgage Bankers Association, as rates rose slightly from the previous week’s record lows.

Inflation Risk and Mortgage Rates: A Primer

By:
Barbara Eisner Bayer - MortgageLoan.com | August 18, 2010

The psychic at the county fair could give you an outlook on mortgage rates — and she might even turn out to be right. But over-reliance on a crystal ball gazer probably isn’t the best fiscal strategy. You’re better off learning about the factors that influence mortgage rates, such as inflation risk.  

Mortgage Rates Remain Outstanding, August 18, 2010

By:
David Coster - MortgageLoan.com | August 18, 2010

Mortgage Rate Trend Direction:     Down

Economic Reports/Impact:              No Economic Reports Released Today

Key News:                                           US Companies Earnings, Conference of Future of Freddie/Fannie

 

Private Loan Mods Up 10 Percent in June

By:
Peter King - MortgageLoan.com | August 17, 2010

Private sector mortgage loan modifications rose 10 percent in June, more than doubling the number of modifications completed through the government’s Home Affordable Modification Program (HAMP), according to new figures from the Hope Now Alliance. 

Geithner: Government Support for Mortgages Still Needed

By:
Kirk Haverkamp - MortgageLoan.com | August 17, 2010

Saying that it’s time to “begin the process of weaning the markets away from government programs and make room for the private sector to get back into the business of providing mortgages,” Secretary of Treasury Tim Geithner this morning opened a conference focused on overhauling the way home purchases are financed in America. 

Defray College Tuition Costs with a Mortgage Refinance

By:
Barbara Eisner Bayer - MortgageLoan.com | August 17, 2010

Horror films like Scream 2, Sorority House Massacre, and Night of the Creeps take place on college campuses. But as frightening as these films are, nothing is quite as scary as not finding enough money to pay for college tuition. With the cost of a four-year education ranging anywhere from $26,000 to $140,000 annually, it’s no wonder that parents are having nightmares. If you have equity in your home, you may be able to use a cash-out mortgage refinance to help raise necessary funding to give your child the education she deserves.

Mortgage Rates Take a Breath, August 17, 2010

By:
David Coster - MortgageLoan.com | August 17, 2010

Mortgage Rate Trend Direction:     Up

Economic Reports/Rate Impact:    Housing Starts, 8:30 AM ET, Moderate Rate Impact

                                                              Producer Price Index, 8:30 AM ET, Moderate Rate Impact

Mortgage Rates Benefit from Economic Blues, August 16, 2010

By:
David Coster - MortgageLoan.com | August 16, 2010

Mortgage Rate Trend Update:     Down

Economic News/Rate Impact:     NY Empire State Index

Key News:                                        US Companies Earnings, Japanes Economic Woes

 

Summary

 

Quell Financial Insecurity with Home Equity

By:
Barbara Eisner Bayer - MortgageLoan.com | August 16, 2010

Have you been feeling nervous about your financial situation lately? If so, you’re not alone. According to a recent report from the Rockefeller Foundation and Prof. Jacob Hacker of Yale University, economic insecurity in this country is at its highest point in 25 years.

Fed Announces New Mortgage Rules to Protect Consumers

By:
Kirk Haverkamp - MortgageLoan.com | August 16, 2010

New rules designed to prevent loan originators from steering borrowers into more costly mortgages in order to increase their own compensation have been issued by the Federal Reserve.
 
The Fed also issued temporary rules requiring that borrowers be informed how their mortgage rates and payments may vary over time, and proposed new rules establishing enhanced consumer protections and disclosures on reverse mortgage products.
 
The various rules, announced today, amend or would amend regulations implementing the Truth in Lending Act.

Weekly Mortgage Rate Review--Quantitative Easing Returns, August 13, 2010

By:
David Coster - MortgageLoan.com | August 14, 2010

Quantitative Easing Take Two

 

Home Improvement: Eight Tips for Finding a Contractor

By:
Barbara Eisner Bayer - MortgageLoan.com | August 13, 2010

Have you been contemplating a serious home improvement project lately? Then you may be hearing the words of Voltaire resonating in your head: “God gave us the gift of life; it is up to us to give ourselves the gift of living well.” With mortgage interest rates at record lows, living well may mean giving yourself the gift of home renovation.

$3 Billion Designated for Foreclosure Prevention Aid

By:
Kara Johnson - MortgageLoan.com | August 13, 2010

The Obama administration has announced it will provide another $3 billion in mortgage assistance for unemployed and financially stressed homeowners through two foreclosure assistance program. 

Will Mortgage Rates Freak Out on Friday the 13th?, August 13, 2010

By:
David Coster - MortgageLoan.com | August 13, 2010

Mortgage Rate Trend Direction:       Down

Economic Reports/Rate Impact:      Consumer Price Index, 8:30 AM ET, Moderate Rate Impact

Fannie, Freddie May Prohibit Private Transfer Fees

By:
Peter King - MortgageLoan.com | August 13, 2010

Private transfer fees would practically be banned under a new rule proposed by the Federal Housing Finance Agency (FHFA) that would prohibit Fannie Mae and Freddie Mac from backing mortgages that feature them.
 
Such covenants require the buyer and/or seller to pay a fee to the original developer, a home association or other party each time the property is resold. Since Fannie Mae and Freddie Mac guarantee the vast majority of U.S. mortgages, such a ban would effectively eliminate such covenants from all but the highest end of the U.S.

Potential Problems with FHA Mortgages

By:
Barbara Eisner Bayer - MortgageLoan.com | August 12, 2010

When you’re low on cash reserves, FHA loan programs look like icy cool lakes in the center of a blazing hot desert. This vision isn’t a mirage exactly — but there may be some unfriendly terrain between you and that refreshing FHA oasis.

Mortgage Rates Continue To Find New Lows, August 12, 2010

By:
David Coster - MortgageLoan.com | August 12, 2010

Mortgage Rate Trend Direction:     Neutral/Higher

Economic Reports/Impact:              Jobless Claims, 8:30 AM ET, High Rate Impact

Key News:                                           US Companies Earnings, International Reaction to Fed Comments

 

Foreclosures Head Back Up in July

By:
Kirk Haverkamp - MortgageLoan.com | August 12, 2010

U.S. foreclosure filings rose 4 percent in July after three months of declines, while bank repossessions edged close to an all-time high, according to new figures released today by RealtyTrac.
 
More than 325,000 residential properties, or one out of every 397 U.S. housing units, were subject to a foreclosure filing in July.

Home Prices Edge Up in Second Quarter

By:
Kara Johnson - MortgageLoan.com | August 11, 2010

National home prices edged up in the second quarter of 2010, posting a 1.5 percent increase over the same period one year before, according to new survey data from the National Association of Realtors (NAR). 

Mortgage Rates Tumble, August 11, 2010

By:
David Coster - MortgageLoan.com | August 11, 2010

Mortgage Rate Trend Direction:     Down

Economic Reports/Impact:              Trade Balance, 8:30 AM ET, Low Rate Impact

Key News:                                            Reaction to Federal Reserve Statement

 

Shock Protection: Be Prepared for Refinance Settlement Costs

By:
Barbara Eisner Bayer - MortgageLoan.com | August 11, 2010

When Oprah Winfrey gave everyone in her studio audience a free car, TV Guide named it one of the greatest moments in television history. But once the recipients got over their amazement, they were in for a different kind of sticker shock – each winner was required to pay up to $7,000 in taxes for the grand prize. While it was a great deal for the 276 winners, it still came with a hefty price tag.
   

Mortgage Rates Drop Again, But Applications Flat

By:
Kara Johnson - MortgageLoan.com | August 11, 2010

Mortgage activity remained relatively flat last week, despite the lowest interest rates ever reported by the Mortgage Bankers Association (MBA). 

Take Advantage of Energy Tax Credits Before it’s too Late

By:
Barbara Eisner Bayer - MortgageLoan.com | August 10, 2010

If you’ve caught the home improvement bug, but have been putting it off until the economy recovers, it may be time to take action. There are many tax credits that expire at the end of 2010, so if you procrastinate, you may lose out on juicy rebates for the greening of your personal environment.

It’s easy being green

Mortgage Rates Anticipate Fed, August 10, 2010

By:
David Coster - MortgageLoan.com | August 10, 2010

Mortgage Rate Trend Direction:     Neutral/Down

Economic Reports/Impact:             Productivity, 8:30 AM ET, Low Rate Impact

Guidelines Unveiled for Underwater Refinance Program

By:
Kirk Haverkamp - MortgageLoan.com | August 10, 2010

Details of a new program designed to help underwater homeowners refinance into an FHA mortgage have been released by the U.S. Department of Housing and Urban Development. 

Maryland Mortgage Program Boosts Homebuyer Aid

By:
Peter King - MortgageLoan.com | August 10, 2010

The state of Maryland is cutting the interest rate and boosting down payment assistance for its primary homebuyer assistance program. 

Mortgages Up, But Home Values Continue Decline

By:
Kara Johnson - MortgageLoan.com | August 09, 2010

U.S. mortgage lenders originated more loans in the second quarter of the year than the first, even as home values continued to decline, according to a pair of reports issued today. 

Mortgage Rates and the Good Life

By:
Barbara Eisner Bayer - MortgageLoan.com | August 09, 2010

When Aristotle wrote Nicomachean Ethics back in 350 BC, he said that “eudaimonia” – happiness – meant “doing well” and “living well,” and coined the concept of the “good life.” More recently, MetLife did a study and discovered that the concept of a “good life” means different things to different people. One common thread was shared, though – the good life meant living with purpose, having a clear vision of your path, and focusing on what you need to get you there.

Mortgage Rates Seek New Driver, August 9, 2010

By:
David Coster - MortgageLoan.com | August 09, 2010

Mortgage Rate Trend Direction:     NeutralUp

Economic Reports/Impact:              No Economic Reports Released Today

Key News:                                           US Companies Earnings, Alan Greenspan Comments

 

Mortgage Rates Weekly Review, August 6, 2010

By:
David Coster - MortgageLoan.com | August 07, 2010

Mortgage Rates Play Waiting Game Before Improving

 

Summary

 

Mortgage Rates Respond Positively, August 6, 2010

By:
David Coster - MortgageLoan.com | August 06, 2010

Mortgage Rate Trend Direction:    Down

Economic Reports/Impact:            Monthly Non-farm Payroll, 8:30 AM ET, High Rate Impact

Key News:                                         Change in US Administration's Economic Team     

 

Watch Out for Fraudulent Mortgage Loan Modification Services

By:
Barbara Eisner Bayer - MortgageLoan.com | August 06, 2010

Motivational speaker Tony Robbins once said, “In life, you need either inspiration or desperation.” Unfortunately, in this era of mortgage loan scams, desperate con men are being inspired to peddle fraudulent mortgage loan modification services, and causing trouble for struggling homeowners who are doing everything in their power to avoid foreclosure.

Mortgage Rates React to Jobs, August 5, 2010

By:
David Coster - MortgageLoan.com | August 05, 2010

Mortgage Rate Trend Direction:     Neutral/Down

Economic Reports/Rate Impact:    Jobless Claims, 8:30 AM ET, Moderate Rate Impact

Key News:                                          European Central Bank Rates, China Real Estate Rules

 

Mortgage Refinance or Second Mortgage?

By:
Barbara Eisner Bayer - MortgageLoan.com | August 05, 2010

In the summer blockbuster Inception, one hopeful decision changes everything for dream extractor Dom Cobb. There’s no arguing that making a short-sighted choice exposes you to unintended consequences — not only in dreamscapes, but also in the concrete world of home mortgages.

Mortgage Rates Play Waiting Game, August 4, 2010

By:
David Coster - MortgageLoan.com | August 04, 2010

Mortgage Rate Trend Direction: Neutral

Economic Reports/Impact:          ISM Services Index, 10:00 AM ET, Moderate Rate Impact

Key News:                                       Congressional decision on tax cuts

 

Refinancing Mistakes to Avoid

By:
Barbara Eisner Bayer - MortgageLoan.com | August 04, 2010

There are lots of facts to focus on when you’re shopping for a mortgage refinance. If you overlook some key points, though, you may be making the same mistakes as many mortgage shoppers before you. You can avoid getting caught in traps now that could have negative consequences later by knowing what these potential pitfalls are and avoiding them.

Control your cash-out

Four Reasons to use Home Equity to Buy a Car

By:
Barbara Eisner Bayer - MortgageLoan.com | August 03, 2010

Back in 1909, you could purchase the first car, the Ford Model T, for $850. That’s such a bargain, you could probably afford that out of your pocket! Unfortunately, that number doesn’t take inflation into account, which means that if you purchased that same car now, it would cost $20,513 in today’s dollars. (Not such a bargain after all.)

Mortgage Rate Re-Pricing Alert 3:00 PM ET, August 3, 2010

By:
David Coster - MortgageLoan.com | August 03, 2010

Lenders may improve mortgage pricing this afternoon as mortgage-backed securities (MBS) have improved in pricing. Negative personal income, factory orders and home sales data moved stocks lower and sent investors into MBS.

Mortgage Rates Seek to Regain Downward Push, August 3, 2010

By:
David Coster - MortgageLoan.com | August 03, 2010

Mortgage Rate Trend Direction:     Down

Economic Reports/Impact:             Personal Income, 8:30 AM ET, Moderate Rate Impact

Mortgage Rates Step Back, August 2, 2010

By:
David Coster - MortgageLoan.com | August 02, 2010

Mortgage Rate Trend Direction:     Up

Economic Reports/Rate Impact:    Construction Spending, 10:00 AM ET, Moderate Rate Impact

                                                              ISM Index, 10:00 AM ET, High Rate Impact

VA Loans for Short Sales

By:
Barbara Eisner Bayer - MortgageLoan.com | August 02, 2010

Some people theorize that our military men and women get the short end of the stick when they return home to their normal lives. The Veteran’s Administration (VA), however, rewards veterans for their service to this country by offering programs to make their lives easier, including the VA home loan program. One way for an American who has given military service to make maximum use of a VA mortgage is to buy a home through a short sale.

What’s a short sale?