Hugh Fitzpatrick's (hughfitzpatrick) Blog

FROM FHA FHA LAUNCHES SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERSEffort designed to encourage principal write-downs for responsible borrowers WASHINGTON - In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Hous...

I was reading an interesting article in the Walls Street Journal this morning. In the article, entitled "Doctors Get Dose of Technology From Insurers", there is an ongoing discussion on how doctors and hospitals can covert their records into electronic images. For instance, according to the artic...

We all know that the fear of foreclosure has gripped many residents of the Bay state. But did you know that a new Massachusetts foreclosure law was just passed this week? Boston.com reprinted a statement from the Office of State Senator Patricia Jehlen that weighs in on the new foreclosure protec...

When the jobs report came out on Friday and there is no change to the unemployment figures (9.5 %), I am sure that we will continue to see low mortgage rates for the immediate future.

WASHINGTON (AP) -- A plunge in mortgage rates is giving homeowners a rare opportunity to lock in a 15-year fixed-rate loan for less than 4 percent. Rates haven't dipped this low in decades. For those who can qualify, it's the chance to pay off a home in half the time while saving tens of thousand...

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending July 30, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data ...

I saw this yesterday in the Mortgage Daily News and thought that it was worth posting the link http://www.mortgagenewsdaily.com/08032010_june_pending_home_sales.asp.    

I need to post this http://finance.yahoo.com/news/Countrywide-agrees-to-pay-apf-2517381110.html?x=0&sec=topStories&pos=main&asset=&ccode=. Just another example of greed which has taken over this country. Why aren't these people in jail?

According to the Wall Street Journal, "section 8 recipients suddenly have a housing smorgasbord". The article discusses the results of overbuilding and how section 8 recipients are getting homes with pools, great rooms, etc.  

Does anyone have any thoughts or commentary on how long the rates will be this low? Each week, I tell myself that they cannot get any lower than this, then all of a sudden, they go lower. I often wonder whether they will get below 4.0 on the 30. Any commentary?