Mike Berrios's (mberrios) Blog

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Mortgage and Lending - Integrity Home Finance - NMLS 155795
RECENT BLOG POSTS
The Worst Places To Find Local Real Estate Information   Stories on TV about the national real estate market are misleading to Americans.  This is because there is no such thing as a "national real estate market". Consider the latest American Housing Survey.  It found that there are 124,377,000 h...
08/22/2008
Good News For Homeowners : Housing Starts Tumble In July   Housing Starts measure the number of new housing "units" on which construction has started and in July, Housing Starts fell to its lowest levels since March 1991. For homeowners, this is a welcome bit of good news because as fewer homes a...
08/22/2008
Earlier this week the FDIC announced that most IndyMac borrowers, who are seriously delinquent or in default on their mortgages and can document their situation, will be able to switch into loans capped at an interest rate around 6.5%. The FDIC has been operating IndyMac Bank since July 11th. "Mo...
08/22/2008
The Median Home Sales Price Fell Nationally, But "National" Data Is Irrelevant   Each month, the National Association of Realtors® releases a study called the Existing Home Sales report.  It's a detailed look at "used" home sales data from all four regions of the country. One of the key findings ...
08/17/2008
How Russia Invading Georgia Can Change Your Mortgage Rates   The connection between the world's political events and mortgage rates here at home is not always clear, but Russia's invasion of Georgia provides a strong working lesson. Georgia is a former Soviet republic on the eastern shores of the...
08/17/2008
First-Time Home Buyer Tax Credit Fact Sheet Who is Eligible · The $7,500 tax credit is available for first-time home buyers only. · The law defines a first-time home buyer as a buyer who has not owned a home during the past three years. Income Limits · Home buyers who file as single or head-of-h...
08/13/2008
In Pictures : Mortgage Guidelines Get Tough For All Borrower Types -- Quickly   It's not your imagination -- getting approved for a home loan is becoming increasingly more difficult. Taken from the Federal Reserve's quarterly survey of 84 banks, it illustrates the changing dynamic of mortgage gui...
08/13/2008
How To Make Sense Of The Pending Home Sales Index   When home sellers accepts a contract on MLS-listed property, the property's official status changes from "Active" to "Pending". By measuring the number of "Pending" homes nationwide, the National Association of Realtors® publishes its once-month...
08/13/2008
Looking Back And Looking Ahead : August 11, 2008   In a week packed with mortgage news and economic data, mortgage rates swung hard in both directions last week before settling into the weekend slightly higher across the board. Adjustable-rate mortgages worsened more than their fixed-rate counter...
08/13/2008
This morning we start our day with the mortgage market improving due to a successful 30 year bond auction, oil continuing to retreat to $116 a barrel, another substantial loss from Fannie Mae losing another 2.3 billion dollars, (and we wondered why we see another 25 basis points added for adverse...
08/08/2008
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Mike Berrios

CMPS, CMA, CLA
local_phone(909) 945-8777
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