Currently up 25 bps on the day.
Recommend locking all and any transactions with these gains. The Treasury Auction is coming out later today, but I would not suggest risking your purchase/refinance on those results.
Good morning all…
MBS is currently up 16bp on the morning and hovering around the 1st level of support.
As for today, there are no economic reports set to come out, so looks like what will be a quiet Monday. (Kind of like what Tim Tebow’s experiencing today…)
2 important days this week are Thursday (Jobless Claims) and [...]
In a previous post of mine, I outlined a problem that FHA has been currently dealing with, and today, on the front page of Yahoo, I found an article from the New York Times that gives a nice little update.
I wanted to repost it so please take a moment to read this, as its VERY [...]
Here’s an excerpt from one of my favorite movies, A Bronx Tale. Please follow closely:
Sonny: Get this over with, Mush.
Mush: Come on, dice. Baby needs a new pair of shoes. Come on, seven!
Mush: Come on! Come on, dice!
Sonny: I don’t even have to look.
(Spectator) And seven!
Mush: Craps! I’m out!
Sonny: Get him out of here! Man [...]
So, you’ve decided to buy a house?
GREAT DECISION, especially now since rates are super low and you can walk into plenty properties with some decent equity.
Ok, step 1 complete.
Next step, picking the right lender.
I’ve written several articles on this previously, but I will summarize countless hours of explanation into ONE sentence:
YOU WILL CHOOSE WHOEVER YOU [...]
So there has been a lot of rumors regarding the $8000 first time home buyer tax credit and that it can be used as a down payment for a new home with an FHA loan.
At first, I thought it was just another “mortgage scam”. Trust you me, the real mortgage industry always leaves room for [...]
I have voluntarily stopped watching news. Seriously.
What can CNN, FOX News, or even your local news tell us that we haven’t seen, or better yet, experienced first hand in this wild real estate market the past year or so?
Absolutely nothing!
If I wanted negativity, I would ask my Uncle Frank how his prostate is holding up.
All [...]
1. Is there a secondary mortgage market for Section 203(k) mortgage loans? Yes. The Government National Mortgage Association (GNMA) permits the Section 203(k) mortgage to be placed in both GNMA I and II pools with Section 203(b) mortgages. GNMA accepts the 203(k) mortgage once it has been endorsed by HUD. The Federal National Mortgage Association [...]
A heads-up to realtors and buyers: the Feds want to help you buy and fix up existing homes. FHA 203K rehab loans are for you, not for someone else.
What’s in it for them? They want foreclosure properties and long-listed homes to get into the hands of caring owners.
How do they help you?
They guarantee mortgages that [...]
Comparing deals for a mortgage can be a very confusing task. You can shop til you drop for mortgage rates, mortgage fees, and the best APR (Annual Percentage Rate); however do you REALLY know what to look for?
Well let’s have a look.
Just the other day, I was having coffee with a potential client that was [...]
