Reverse Mortgage - Is It The Same as a Home Equity Loan? (Part 3) Many senior citizens are wavering back and forth between home equity loans and reverse mortgages. Each loan has merit and should be considered according to each person's needs and goals. This article will explain some of the main differences between the...

The average rate on a 30-year fixed mortgage fell to 4.54 percent in the week ended today from 4.56 percent last week, McLean, Virginia-based Freddie Mac said. The average 15-year rate was 4 percent, also a record in the data going back to 1971, the company said in a statement.

if you have plans of purchasing a home, now may be the best time. There are many reasons why now is the best time to purchase a home. First, there is an abundance of sellers. This means you will have plenty of choices. Additionally, the values of homes are cheaper too. This is because of the slower demand and fewer buyers...

Interest rates are weak this morning on better earnings data and a change in the technical outlook on the S&P 500 index that climbed above its 200 day moving average yesterday. DuPont came in with much better Q2 numbers adding fuel to the early rally in the stock market; at 9:00 the DJIA index +62, the S&P +7. At...

Here is what you will need to know and have before jumping into a loan modification process: * A statement showing your willingness and want to keep your house. Your lender wants to see that you are committed to a long-term solution to stay in your home. * A hardship letter describing the event or events that has made your...

Credit scores and the effect on your mortgage approval A credit score essentially is a numerical "score" based on one's ability to pay credit/debt over time. It is used by lenders to assist them in determining which loan program and interest rate can be made available to you based on your credit history. The mortgage...

Mortgage interest rates drop even further! home owners push to new refinance options. Continuous drops in California mortgage rates has caused home owners to seek refinance option more & more, Which intern leads to more applications being processed and home owners seeking mortgage help. Mortgage interest rates drop...

Treasuries and mortgage prices opened better early this morning but by 9:00 the 10 yr note drifted back to unchanged and mortgages also unchanged after a brief move to +4/32 (.12 bp) frm Friday's close. Stock indexes have been slightly better in early trade and prior to the 9:30 open after a strong day Friday that...

Last Week in Review "UNCERTAINTY AND MYSTERY ARE THE ENERGIES OF LIFE." And while the Bond market may agree with R.I. Fitzhenry's words about uncertainty, most investors in the Stock market don't... just ask Fed Chairman Ben Bernanke. Last week, Mr. Bernanke testified before the Senate and House Banking...

July 22, 2010 Mortgage rates broke their two day losing streak yesterday after lenders repriced for the better following sobering comments from the Chairman of the Federal Reserve. In his testimony, Ben Bernanke reiterated that the Fed's economic outlook is "unusually uncertain". He went on to remind that inflation is...

In Massachusetes, Donna Larson fell behind on her mortgage payments in 2006. So, she got the bright idea that she would hold off the inevitable foreclosure by telling the bank that her son had died while serving in the armed forces, and she was waiting for his death benefits check to come in. However, her son was very much...

In early trade, equity futures were indicating a higher opening on Wall Street on anticipation of not so terrible European stress test results. Treasuries were under pressure with the long end weakest and down about 50 basis points. MBS prices opened down about 16 basis points. In Europe, better economic data-UK's...

Reverse Mortgage - The Payments (Part 2) In the previous installment we explained some of the basic information concerning reverse mortgages. This article will present information on the payments for these types of mortgages and how it can be a real benefit to senior aged homeowners. With a normal mortgage, payments are...

In early trading equity futures were indicating a higher opening and MBS prices were down about 5/32 (.16 bp). The futures were trading higher on good earnings out from Caterpillar, UPS, and 3M. In addition to positive earnings in the US, the Eurozone reported that industrial new orders rose in May to their fastest annual...

Knowing the Guidelines Solves the Mystery The appraisal process often baffles consumers. They may feel that their home is worth a higher dollar amount, and so the appraised value doesn't always make sense to them. It is important to know that the appraiser is completely independent from lenders, buyers, sellers, and...

In early trading, MBS were slightly better and equity futures were indicating a higher opening. After absorbing some earnings reports, Treasuries and MBS prices weakened but were still holding well. By the stock market opening, the bond and mortgage markets were trading better. Overseas markets were up on the positive US...

A homebuyer's most common asked mortgage questions answered. The most common questions of a mortgage loan are often a struggle for new and old buyers alike. Today, I answer those questions honestly to finally clear up the mystery. #1 Why does one lender charge one rate and another lender charges another? This is...

Credit Scoring Part II: The Five Factors of Credit Scoring There are five factors that comprise the credit score. They are listed below in order of importance, just as an underwriter would look at the score: Payment History: 35% impact. Paying debt on time and in full has a positive impact. Late payments, judgments and...

Last Week in Review They say the only constant is change... And more change is coming, as the sweeping Financial Regulation Bill was passed by the Senate last week and will be signed by President Obama in short order to become law. So what does this change mean... and how will it impact home loan rates? Here's what...

In early trading, MBS were slightly lower as equity futures were indicating a stronger opening after the steep sell-off on Friday. The equity markets opened higher as expected. The 10-year note yield is up a few basis points but holding under 3.00%. European stocks are trading higher despite the expected downgrade of...

Think about this...if you had a to buy something you really wanted, you would wait until it went on sale right? Well that is where we are with real estate home prices. Couple that with low, low, low interest rates and you have a recipe for success. Contact me as a I am both a licensed real estate agent and mortgage loan...

Reverse Mortgage - The Essential Information (Part 1) In the troubled times currently facing the American economy, many people are looking for ways to cut expenses and increase their income. One method being used by senior citizens is the reverse mortgage. This unique type of home loan allows people to use one of their...

Ron has been gaining a few extra pounds and recently discovered some gray in his usually perfectly trimmed beard. His wife Valerie is going through something similar but even worse. She has been experiencing the onset of adult acne for the first time since adolescence. What happened to Ron and Val is the same thing that...

A better start this morning with treasuries and mortgages at near term key technical levels. As note previously, the 10 yr note is at key technical levels; the 10 yr note is working at the longer term down trend line (yield), its 20 and 40 day moving averages and the 9 day RSI is sitting at generally neutral level. The FNMA...

In the 1960s, Fair Isaac Corporation started working on a system lenders could use to evaluate the likelihood of receiving repayment on loans. Prior to that, it was really a matter of trusting an individual to be a "man of his word," so to speak. Fair Isaac sought to take human error out of the equation with a reliable...

Preparing for a Mortgage Refinance in Wisconsin Illinois Minnesota Florida With the record low mortgage rates making headlines on a regular basis, now is a good time to consider refinancing a home loan. Here are a few guidelines to consider when preparing for a refinance. 1. Your Current RatioThe first thing to find out is...

Very early this morning the 10 yr note yield had pulled back to 3.03% and mortgage prices started +2/32 (.06 bp); but by 9:00 the 10 yr, while still holding a minor gain had pulled back and mortgages at 9:00 were 2/32 (.06 bp) lower than Friday's close. There are no economic releases today for markets to think about;...

Last Week in Review "Over there... over there..." The old patriotic song hit it on the head, in terms of what has been driving market action lately... news from overseas. In the absence of US economic reports last week, Stocks received some help from headlines "over there." Late last week, the European Central Bank (ECB)...

LOS ALTOS, Calif. -- No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars.The housing bust that began among the working class in remote subdivisions and quickly progressed to the suburban middle class is striking the upper class in privileged enclaves like this one in...

One of the biggest difficulties many first-time home buyers face is a lack of down payment and the necessary funds for closing costs. However, even with the widespread availability of "no-money-down programs" evaporating in the credit crisis, one national no-down payment program still remains: USDA Rural Development home...

The correction in the US financial markets continues; this morning the stock indexes in early trade were better, the bond and mortgage markets worsening. The bellwether 10 yr climbed back above 3.00% this morning pushing mortgage prices lower. Not at all unexpected; both bourses have been technically over-extended for the...

More wasted breath today from the heads; still keep hearing that stocks are cheap and the bond market is over the top on concerns of deflation. As long as the talking heads continue to say the equity market is a longer term buy it will continue to fall; once we get everyone in the boat of a double dip then the market will...

I dont know if you are like me...wondering how much lower rates can fall, but I am scratching my head with one hand cheering with the other. Interest rates have continued to stay below 4.5% for over a week now..not sure this will last, but given the pathetic condition of the worlds economies it seems like investors are fine...

With low interest rates, getting a home mortgage refinance loan has become a very attractive option for many home owners who could save thousands of dollars on their mortgage interest repayments. Unfortunately, the savings from getting a bad credit mortgage refinancing to a lower interest rate are out of grasps for millions...

The headline this evening in the newspapers will be that the unemployment rate declined from 9.7% in May to 9.5% in June; the sub-text however isn't that cheery, the labor force decreased by 652K. Non-farm jobs declined 125K about what was expected, 225K jobs were cut from the census workers while private jobs...