John Tuggle's (youhomeyouloan) Blog

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Mortgage and Lending - John Tuggle, Senior Mortgage Loan Originator, Envoy Mortgage, Ltd. - NMLS# 211187
RECENT BLOG POSTS
In a recent interview with MS-NBC, the Commissioner of the FHA made some very interesting points.  A lot of this information is not widely known. Some key points that Mr. Stevens made were as follows: 1.  The FHA is not considering going to a minimum credit score formula for qualification at the ...
10/12/2009
Subject:Homebuyer Tax Credit: Extend and Expand Dear [ Decision Maker ], As a Realtor and a constituent, I can assure you that the $8,000 first-time homebuyer tax credit has definitely been a success. Homebuyer interest and housing sales increased almost as soon as the ink was dry on the tax cre...
10/12/2009
Open letter from Senator Johnny Isakson, Georgia in reference to First time Homebuyer Tax Credit, currently under review and debate in the Senate. Dear Friends, First-Time Homebuyers ForumI'm pleased to announce that I will host a statewide First-Time Homebuyer's Forum on Saturday, June 27, 2009....
06/20/2009
 Dear Friends,  This week, I introduced stand-alone legislation to boost housing demand and to restore the economy by expanding the first-time homebuyer tax credit passed by Congress earlier this year.   The legislation would increase the maximum amount of the credit from $8,000 to $15,000 and ex...
06/13/2009
After a little volatility this morning the mortgage markets settled down this afternoon. Stocks were lower all day but the trading didn't look anything like some kind of reversal, just taking a breather ahead of jobs data tomorrow and Friday. As usual with any declines in equities, going into the...
06/03/2009
Selling in the mortgage markets continued today (until about 3:00) as wholesalers and originators race to get ahead of the increasing interest rate markets. It took two and a half months of rising 10 yr note rates, from 2.50% to 3.73% yesterday, while at the same time mortgage rates hardly increa...
05/28/2009
The FOMC policy statement was about the same as the March 18th meeting; the fly for treasuries and to a lesser extent mortgages, was that the Fed did not increase the purchases of treasuries or mortgages from what it announced at the March meeting ($750B of MBSs and $300B of treasuries). And the ...
04/29/2009
Treasuries this morning in early activity (8:00) were sitting unchanged from last Thursday; by 9:00 prices were increasing and yields falling. At 9:30 the 10 +13/32 at 2.88% -4 BP, mortgage prices at 9:30 +1/32. Today treasuries will likely find a little support as the Fed will buy more treasurie...
04/14/2009
On Wednesday, the Senate unanimously approved my amendment to the Fiscal Year 2010 Budget Resolution that seeks to stimulate the nation's declining housing market by providing for a $15,000 tax credit to individuals who purchase a home in the next year.   My amendment creates a deficit-neutral re...
04/04/2009
  Not a good day in the bond market; the 10 yr clearly broke its near term support and is now poised to move to 3.00% area. Mortgage rates also moved higher today, following the 10 yr note. Supply is the culprit; as we have talked many times, the long end of the curve is not likely to move much l...
04/03/2009
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John F Tuggle

Certified VA Expert Renovation Program Specialist
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