Joe Schmitz's (joeschmitz) Blog

As I sat at my desk and watched the bond market all week I could help but hang my head. The 10 year bond went from the low 5s to as high as 5.25% in the middle of the week. I probably don't have to tell you what this did to the interest rates. Rates ran with the bond market and seemed to rise eve...

I know some of you realtors out there wish your lender worked like you do, or would communicate with you more during the transaction. What if you didn't have to worry about the loan aspect of the transaction and you could just focus on your job? Well I'm your solution to those problems. I work 24...

Though VA works much differently then conventional products, which sometimes causes some hiccups in transactions, it has many unique qualities that conventional products don't have. One great aspect is that the seller's credit can be used to pay off any collection accounts, or any debts that they...

Well as most of you know rates have been rising the past few weeks. Lenders are nervous that the Fed may raise rates in August. This week rates rose from an average of 6.37% on 30 year fixed to 6.42% on 30 year fixed, according to Freddie Mac. Though rates are up a bit, they are still good and it...

Well the word is that Fannie Mae and Freddie Mac are going to be developing mortgage bailout programs for borrowers on adjustable rates that are adjusting hard and can't refinance due to current credit problems. We are suppose to see these programs by mid to late summer. Hopefully this will help ...

Well what the states says differs from independent economists. The state is much more optimistic about our Hawaii economy then some of the economists. Tourist spending is estimated to go up only 3.3% when inflation is now forecast at 4.5%. Though experts expect a slow down in the economy, they do...

Well that CPI report came out today as I wrote about yesterday. The core inflation stayed the same at .2%, but the overall was at .4%, which is lower then expected by Wall Street Economists who were expecting a .5% increase. Now the big question is 'will the Fed lower rates?' Well a lot of invest...

Tomorrow the consumer price index report comes out. The stock market slowed today in anticipation of this. Also if the report indicates inflation is up, our lenders will likely raise rates. I recommend watching out for this item on the news tomorrow it can sometimes have a signifigant effect on t...

I have a program that just became available to me. This is great for those lease hold properties that don't have 30 years left on the lease, however, the buyer can't afford the 15 year amortized payment. This loan allows for a 30 year amortized payment with a 15 year balloon. This either gives th...

Well as many know the Feds did not raise interest rates the other day. They said "inflation is a predominant risk" however, did not raise rates and indicated that they are not likely to raise them soon. The main reason they held the rates is do to the slowing of the housing market, and declining ...