ARCHIVED BLOG POSTS
2010
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As we see more and more "short sales" pop up in our communities, it is important to be aware of some of the conditions that swirl around the sellers. First of all a short seller is in dire straights. As he or she applies for a short sale, forms must be filled out showing all the assets availabl...
01/21/2010
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Mortgage backed securities (MBS) closed up 25 basis points today at 101.01 solidifying yesterday gains over the 200 day moving average and crashing through the 100 day moving average. These results follow the classic pattern of bonds rallying as stocks tumble. The announcement about the addditi...
01/21/2010
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The new Good Faith Estimate (GFE) is suggested by the government to be used as a shopping tool for your new loan. On the first page all the elements of the loan program (e.g. loan amount, term, interest rate, prepayment penalty) are listed for the consumer's quick review. The second page provid...
01/20/2010
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Mortgage backed securities (MBS) closed up 16 basis points today at 100.78 wedged between support offered by the 200 day moving average and resistance at the 100 moving avergage. Although, I mentioned earlier this week that closing above the 200 day moving average could portend better rates, we ...
01/20/2010
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The new Good Faith Estimate, which must be used with all loan applications completed beginning Janaury 1st, is intended to let borrowers shop for the best closing costs. Because of the nature of the new form and its potentially punitive elements, however, it may reflect those costs in a magnifie...
01/19/2010
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Mortgage backed securities (MBS) closed down 12 basis points at 100.62 wedged between support offered by the 25 day moving average and just 3 basis points below the all important 200 day moving average. In order to see improvement in rates, MBS bonds will have to pass that resistance. Any chanc...
01/19/2010
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I have had a personal experience dealing with other Realtors during the last few days and it has been frustrating. My day job is providing guidance and products to my clients as a Certified Mortgage Planning Specialist but I also hold a real estate brokers license. I needed information about th...
01/15/2010
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Mortgage backed securities (MBS) closed up 38 basis points today at 100.75 having smashed through the tough double resistance offered by the 25 day and 200 day moving averages. As we discussed yesterday, the Consumer Price Index showed low inflation readings while consumer sentiment drooped slig...
01/15/2010
The interest rates we pay on our home loans are determined by economic factors, government actions and technical factors. Commonly bad economic news is good for interest rates and bad for stock prices. Today we had weak retail sales and higher that expected initial unemployment claims, both of ...
01/14/2010
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Mortgage backed securities (MBS) closed up 19 basis points (bps) today at 100.38 inching ever closer to the 25 day moving average just 9 bps above. If MBS bonds can break through that resistance and the 200 moving average just above, we could have a short term improvement in interest rates and p...
01/14/2010
