Carl Rizzuto's (crizzuto) Blog

Conforming Loan Limits Unchanged For 2012 A conforming mortgage is one that, literally, conforms to the mortgage guidelines as set forth by Fannie Mae and Freddie Mac. Conforming mortgage guidelines are Fannie’s and Freddie’s eligibility standards; an underwriter’s series of check-boxes to determ...

More Sales, Less Inventory : Home Prices Headed Higher? The housing market continues to signal that a broad rebound is underway. In October, despite sparse home inventory, the number of properties sold increased 1.4% nationwide. According to data from the National Association of REALTORS®, on a s...

Housing Starts Rising; New Construction Turns The Corner? Another day, another signal that the market for newly-built homes is improving. Single-Family Housing Starts rose to a seasonally-adjusted, annualized 430,000 units in October — a 4 percent increase from September and the highest reading i...

Homebuilders Getting Optimistic; Higher Home Prices Ahead? Homebuilder confidence continues to rise. Just two months after falling to a multi-month low, the Housing Market Index surged again in November, climbing another three points to 21. It’s the second straight month that the HMI posted a 3-p...

Government Releases Additional HARP Guidance For Underwater Homeowners Tuesday, Fannie Mae and Freddie Mac unveiled lender instructions for the government’s revamped HARP program, kick-starting a potential refinance frenzy across New Jersey and nationwide. HARP stands for Home Affordable Refinanc...

This Holiday Season, Think Twice Before Saving 15 Percent At The Register With Halloween behind us, retailers are in the Holiday Spirit. Businesses know that consumers spent a median $556 on holiday gifts last year and they want this year to be just as strong. That’s why it’s barely November and,...

Banks Resume Tightening Mortgage Guidelines As part of its quarterly survey to member banks nationwide, the Federal Reserve asked senior loan officers whether last quarter’s “prime” residential mortgage guidelines have tightened, loosened, or remained as-is. A “prime” borrower is defined as one w...