ARCHIVED BLOG POSTS
2009
Did you know that adjustable rate mortgages are still around. They are, in fact, alive and well. Many individuals involved in the financial markets in and around New York still use these products to access low interest rates on their homes. This allows them to free up cash flow for other more ...
10/23/2009
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Mortgage Backed Securities (MBS) closed down 19 basis points today at 100.59. The light selloff leaves MBS bonds below two critical levels of support consisting of the 50 and 200 day moving averages. The next level of support is the 100 day moving average at 100.04. If bonds cannot rally on Mo...
10/23/2009
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There are several items associated with a loan and a purchase that may be deductible. Home acquisition p0ints, home improvement points an refinance points are all potentially deductible. The previous years points from a refinance may also be eligible. Prorated property taxes and mortgage inter...
10/22/2009
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Mortgage Backed Securities (MBS) closed down 3 basis points on the day closing at 100.78. The 4.5% Fannie Mae bond is again wedged between the 25 day and 200 moving averages. As a result, the conforming 30 year fixed rate is closing the day at 5.0% for a 30 day lock. The bonds did well to hold...
10/22/2009
There are two maximums involved in the equation for determining how much mortgage interest you may deduct. The first prevents you from deducting interest on more than $1,000,000. of the first mortgage as an acquisition limit. The second limits you to an additional $100,000. for what is called h...
10/21/2009
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Mortgage Backed Securitieis (MBS) were off 6 basis points today closing at 100.81. After being off significantly most of the day, the MBS bonds came almost all the way back the opening price. The Dow headed downward late in the day as Boeing and some financials came in with poor earnings report...
10/21/2009
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Having a high credit score can save you thousands of dollars on a car loan and hundreds of thousands of dollars on a mortgage. The lower the score the higher the risk of default. Look at the compelling case for a high credit score built by the chart below. It compares 30 year fixed rate on a $...
10/20/2009
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Mortgage Backed Seccurities (MBS) were up 9 basis points today closing at 100.88. Once again the MBS bond closely just barely above the 200 day moving average but well off the highs for the session. The porducer price index reflected tamer inflation numbers than expected. Housing start and bui...
10/20/2009
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The number of inquiries accounts for the final 10% of your score. You should know that inquiries affect the score for one year. Inquiries can cost from 0 to 50 points, but the average is about 5 points. A score will only be reduced for the first 10 inquiries in a year. Credit reports run by a...
10/19/2009
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Mortgage Backed Securities closed up 6 basis points today at 100.78. The bond, which had been trading in a tight range between support offered by the 50 day moving average and resistance from the 200 day moving average, managed to close just above that resistance. If the bond can remain above t...
10/19/2009
