John Tuggle's (youhomeyouloan) Blog

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Mortgage and Lending - John Tuggle, Senior Mortgage Loan Originator, Envoy Mortgage, Ltd. - NMLS# 211187
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 ...
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...
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....
 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...
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...
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...
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 ...
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...
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...
  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...

John F Tuggle

Certified VA Expert Renovation Program Specialist
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