Refinancing

The Difference Between New & Old FHA Rules

Just recently for Portland Home Loan, I prepared an analysis for 4 purchase scenarios on the same property.  It is a purchase of $300,000 here in Portland, OR, and the 4 options are: – 5% down conforming – 10% down conforming, and – 2 FHA options One FHA option is the current FHA cost structure, which has been …

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Operation Twist = Mortgage Rate Bonanza

Yesterday’s announcement from the Fed’s quarterly meeting was a major market mover–especially for mortgage rates.  Ben Bernanke announced the initiation of something called ‘operation twist’, which many market observers were prepared for, but my understanding is the tone of the announcement really made the bond market jump to levels never before seen, with the result …

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Mortgage Rate Volatility and the End of the Refinance Boom

Kind of feels like an epic hangover.  The low low rate party that seemed like it would never end, has come to a decidedly abrupt change in direction.  The sunlight is streaming into the windows, our clothes are all wrinkled, and there are spilled drinks and confetti everywhere.  We’ve seen a handful of days in …

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What is a Mortgage? (Probably more than what you think)

Time to break things way down.  Let’s deconstruct what exactly it is we’re dealing with here in the mortgage industry.  I’ve been in the mortgage loan game since 2003 and it never ceases to thrill me when we close and fund another one!  Why you ask?  Because the great thing about making a mortgage not …

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The END of Tightening Mortgage Approval Guidelines

I just read an article this morning about how Freddie Mac has posted a 3 BILLION dollar profit for Q2 of 2012.  This means a couple things: (objective fact) – That they will NOT require any more “bailout” funds from the federal government to stay solvent. (subjective prediction) – We will no longer see any …

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