RECENT BLOG POSTS
30 year fixed rate: 5.94% 15 year fixed rate: 5.63% 5 year adjustable rate: 5.90% 1 year adjustable rate: 5.15% Source: Freddie Mac's Primary Mortgage Market Survey Fixed rates are likely to continue their descend throughout the week but don't take my word for it.  See what other mortgage profess...
10/13/2008
Understanding the mortgage bailout runs a lot deeper than the government simply buying bad mortgages from lenders and putting the on the tax payers shoulders. In fact, the government may even be able line its pockets with trillions of dollars that would once again show the resiliency of the Ameri...
09/25/2008
Treasury Secretary Henry Paulson and FHFA Director James Lockhart made the official announcement today that the government will be taking over the two mortgage giants Fannie Mae and Freddie Mac. The takeover includes an unlimited supply of money that is designed to help Fannie and Freddie increas...
09/07/2008
It is no doubt that Fannie Mae and Freddie Mac are the backbone to the success of the US mortgage industry.  So how is it that these two mortgage giants came to a position where the government is stepping in to make certain that they do not fail? Fannie Mae, created in 1938, and Freddie Mac, foun...
07/20/2008
Mortgage rates on fixed and adjustable mortgages increased throughout the week according to the Mortgage Bankers Associations weekly survey released June 11th.  Mortgage applications, on the other hand, increased 10.9 percent throughout the week on a seasonally adjusted basis. The number of homeo...
06/11/2008
Coming into the month of May the biggest concern for the US economy was the grim outlook many economist had on inflation.  Inflation was expected to push mortgage rates higher and slow an already slow US housing market. However, economic reports have been coming in better than expected week after...
05/18/2008
The new act which was passed on May 8th, 2008 will help those facing foreclosure to refinance into an affordable FHA mortgage and help make homeownership more affordable for first time homebuyers. The first amendment to the new act includes an amendment to the FHA Housing Stabilization and Homeow...
05/12/2008
Today NAR posted its Pending Home Sales Index report for March 2008, showing a 1 percent decline from a month ago.  As the report goes on, the problem in the housing market lies under the credit crunch that is limiting homebuyers the capability to qualify for a mortgage.On a national level, NAR g...
05/08/2008
Today Fannie Mae posted a $2.2 billion dollar loss, but underneath their announcement Fannie Mae showed initiative with a new mortgage aid program which could put $10 billion in financing to play for qualified first time homebuyers."Keys To Recovery" is the new multi-purpose aid program that has ...
05/06/2008
Step 1:  Modernize FHAThe FHA plays a vital role in helping low to moderate income famalies achieve homeownership.Step 2: Tax IncentivesOffer a tax incentive for 1st time homebuyers to purchase foreclosed and abandoned properties.  The MBA believes this will spur the demand for housing and slow o...
05/04/2008
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Jeremy Redlinger

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