Kevin Rhodes's (kevinr3d) Blog

When Democrats become the majority power in Congress, they will bring a new set of priorities centered on making housing more affordable for middle-class homebuyers, in part by easing conforming loan limits in pricier markets.Representative Barney Frank, positioned to chair the House Financial Se...

The controversial anti-predatory law proposed for Montgomery County in Maryland was struck down by a state judge for infringing upon the powers of the state under the Maryland constitution.The decision of Circuit Court Judge Michael D. Mason in many ways mirrored the complaints of lending institu...

Upon the fifth consecutive decline in rates, the average 30-year fixed-rate mortgage fell to the lowest level since January this week.Week Ending November 30, 2006Average 30-year fixed-rate mortgage11/30: 6.14%11/22: 6.18%11/16: 6.24%11/09: 6.33%11/02: 6.31%10/26: 6.40%10/19: 6.36%10/12: 6.37%One...

The one-month index for the London Interbank Offered Rate (LIBOR) and its 12-month average increased in November, but the three-month, six-month, and the one-year indices were all on the decline. Note: Fannie Mae currently publishes several of its own London Interbank Offered Rate (LIBOR) index v...

New homes sales dropped in October by the largest amount since July as home prices increased after falling sharply in September, according to the Commerce Department.According to the recent report, monthly sales of new home reached 1.004 million at a seasonally-adjusted annual rate, a 3.2% declin...

1. Countrywide Financial Corp. ($113.7 billion)Down from $116.6 billion in the second quarter, but down from $146.0 billion one year ago.2. Wells Fargo & Co. ($104.0 billion)Down from $116.0 billion in the second quarter, but up from $103.0 billion one year ago.3. Residential Capital Corp. ($51.5...

Rate Lock Advisory - Wednesday Nov. 8thWednesday's bond market has opened fairly flat, showing the election results were priced into yesterday's rally. The stock markets are also near yesterday's closing levels with the Dow down 2 points and the Nasdaq down 1 point. The bond market is currently d...

Although fixed mortgage rates dropped by a dozen basis points last week to land at 6.38%, you shouldn't expect them to wait there for long, according to the datafrom the nation's leading survey  of mortgage pricing. Hybrid five-one ARMs tripped lower, too, easing 13 basis points to close the surv...