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 […]
Mortgage Rate Volatility and the End of the Refinance Boom Read More »
I’ll try to make this brief, because this is kind of a boring topic, but a very important one if you are in the real estate industry. There are a variety of ways that homebuyers access Mortgages, and its becoming more and more critical to the outcome of your real estate transaction to understand which
What is Correspondent Lending? Read More »
So now you’ve got a mortgage. What is the best way to pay it? Should you make extra payments? What about bi-weekly payment programs? Should you sign up for auto pay directly with your mortgage lender? There are lots of choices to make, and you’ve got to make the one that you can live with.
What is the best way to pay your mortgage? Read More »
Mortgage rates had a wild ride today where we saw a swing of over 80 basis points as the international markets continue to have concerns about Greek debt. Fixed rate mortgage pricing is fully informed by yields on FNMA Mortgage bonds. In general- When lots of people are BUYING bonds, the associated yield can be
Greece is the Word! Read More »
So I’ve posted links to press releases from HUD chief Shaun Donovan claiming plans to “monetize” the $8000 Credit in the form of some kind of nebulous “bridge loan” program. Then I posted an article showing how this plan was Dead on Arrival. Now I’ve been hearing that this credit will be accessible immediately upon close, but NOT for
More Mixed Messages About $8k Credit Read More »
I received a very welcome email from my main man Grant Folske CPA telling me that I will be getting a refund from the IRS this year! One of the things that popped out at me that I had always been curious about was the fact that I had refinanced my own residence in 2009, and I
Refinancing an Option Arm = Tax Write Off Bonanza Read More »
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 …
Operation Twist = Mortgage Rate Bonanza Read More »
Conventional financing aka “conforming financing” refer to the basic loan programs that have prevailed in the Oregon Real estate market for decades. In fact, the term “conventional financing” is an umbrella term that covers ALL loans you could get from a bank, or broker. “Unconventional financing” would refer to seller carried contracts, private financing, and …
The FHA loan is often mistaken for a first time home buyer program in the Portland area. This is because it is a program OFTEN used by first time buyers, but anyone can qualify for the FHA mortgage!
The USDA loan is similar to the FHA in some ways. It is insured by a government agency, but not the Federal Housing Administration….(or the department of Veterans Affairs). The USDA loan is insured by the US department of Agriculture! There are some major limitations to the USDA loan program, the main one being location …
