October 19th, 2009
On October 1st, new federal lending rules will become effective. The new rules adopted by the Federal Reserve require greater diligence on the part of lenders in qualifying borrowers in the sub-prime mortgage market. These loans are made to borrowers with weak credit and at higher rates. The consensus is that, had these rules gone [...]
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October 15th, 2009
Bankrate.com's article on home seller stress levels is interesting though painful to read if your home is on the market right now. Some psychologists liken the stress levels and seller reactions to PTSD, Post Traumatic Stress Disorder. They also mention "catastrophizing" as one of the symptoms. The homeowner magnifies the possible negative outcome.
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October 13th, 2009
Right along with the single family detached home building and price appreciation boom, we also experienced huge growth in condo development. From seashore and mountain vacation condos to urban walk-to-work high rises, there had been a sustained boom in construction and prices ... at least until 2006.
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October 9th, 2009
Freddie Mac just released their interest rate report showing 30 year fixed rate mortgages averaging 5.08%, down from 5.14% a week earlier. The 15 year fixed rate is at 4.59%, down from 4.67%. There are a great many homeowners out there who purchased during the hottest appreciation period, say between 2000 and 2006.
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October 7th, 2009
There are tens of thousands of mortgage related websites and blogs. So, the challenge isn't locating news about the mortgage industry and current trends. It's locating reliable and useful information without spending hours going through valueless websites and blog posts. I want to help, with an occasional post here with links to useful information, as [...]
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