Scot's Blog

Well, interest rates have been suprising me in the last few days. I expected to see them increase for a couple weeks. However, even though the Dow is at a 3 year high right now, we are dropping below 5% on FHA, VA, USDA, and other programs. Every person needing a loan is unique and will have a di...

October 11,2009 - We are back down at the lows of the year but pulled back up to 5% on Friday on profit taking.  The interest rate level that we are at now is artifical because of the government purchase program into mortgage backed securities.  That purchase program is winding down and rates wil...

Today the FOMC released a statement that they will buy another 750 BILLION more mortgage backed securities on top of the 500 BILLION they have already committed to in the first 6 months of this year.  They also committed to buying treasuries going forward as well.  That send everyone and their mo...

Tax Credit for HomebuyersFirst-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction - a tax credit is equival...

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If you can't see the newsletter, or would like to view it online, use this link If you have received this newsletter indirectly and would like to be added to our weekly distribution list, use this link     Provided to you Exclusively by Scot Randolph       Scot Randolph Sr. Mortgage Consultant C...

After today, 11/14/2008, all conventional loans with FNMA guidelines will require a 45% debt ratio or less.  What does this mean?  If you have a client under contract and is not locked into an interest rate and their debt ratio is in question, have it checked out.  If you or someone you know is t...