Eric's Blog

Rates crept up slightly from the mid-week rates.  Rates, though, are still slightly better on the 30 YR fixed than last week.  Keep your eye out as the outlook shows that rates may be even better in the next few weeks.  Typically the trend is for rates to improve in early December, this has happe...

NO CHANGE IN RATES THIS WEEK.  THINK OF IT AS AN EARLY THANKSGIVING PRESENT. For example, if at the dinner table on Thanksgiving Day and a tradition is to say something you are thankful for, you can think back on today, the 14th of November, and say, "I am thankful that mortgage rates stayed the ...

Just a Reminder:  Perhaps you were on vacation and missed the news about the new FHA loan limits for 2009.  For Maricopa County the new maximum loan limit will be $271,050. To read more about it, check out this blog. What does this change mean for borrowers?  Less buying power. Will it affect tho...

The Federal Housing Finance Agency (FHFA) announced late Friday that the conforming loan limit will remain $417,000 for 2009 for most areas in the U.S. but specified higher limits in certain cities and counties. The conforming loan limit is the maximum size of loans that Fannie Mae and Freddie Ma...

Late Friday, the Federal Housing Financing Agency announced that the conforming loan limit will remain at $417,000 for most areas in 2009 but stated there will be higher limits for high cost states.  This conforming loan limit will be the maximum mortgage amount that Fannie Mae and Freddie Mac ca...

There were plenty of predictions as to where rates might go depending on the presidential election this past Tuesday.  Suffice to say, those who predicted rates would improve were right and those who predicted that rates may leave the 6's and head towards the 7's were wrong.  I saw both sets of p...

There were 2 re-price's today with regards to rates and both were for rate improvements.  Rates improved about 25 bps depending on the lender and broker that you use.  So if you know anyone on the fence, now may be the time to get them talking to their lender.  That way they can reap the benefits...

Happy Halloween: I wanted something scary and or ghoulish to use as a font for the introduction above and that was literally the best I could come up with...pathetic, I know.  (Sometimes I wish I were more creative but that danged analytical side of my brain just won't quit). I am excited that No...

Think of the stories... The Little Engine that Could The Tortoise and The Hare Think of the movies... Glory The Pursuit of Happyness What do they have in common?  PERSEVERANCE!!! By definition, perserverance is to persist in anything undertaken; maintain a purpose in spite of difficulty, obstacle...

Rates were down and since Wednesday have gone back up.  With so much volatility in the markets, it makes it tough to predict the direction of rates.  The rates are however, still at historically low levels and hovering around 6.5% for no points and no origination fees.  (The rate sheet attached d...