Well, the supposed “most important Fed meeting this YEAR” per CNBC is over and the result…”meh..”. For those not aware, the recent run up in US Treasury rates (and thus Mortgage Rates) was primarily due to investor expectations of a change in the stance of Monetary Policy as directed by the Federal Reserve. In reality, […]Read More most important Fed meeting of the year? what happened today?
Have you ever wondered why a single report could have such a huge effect on mortgage interest rates? The non-farm payroll figure (a.k.a. NFP) represents the number of jobs added or lost in the economy over the last month, not including jobs relating to the farming industry. The farming industry is not included because its […]Read More Why does the Non-Farm Payroll report affect mortgage rates?
Great news friends – buyers in the DFW metroplex (and surrounding areas) will see increased purchasing power thanks to FHA’s decision to increase loan limits beginning in January 2014. Currently the maximum loan amount for the DFW area is $271,050. With a 3.5% down payment (FHA’s minimum down payment requirement) this yields a purchase price […]Read More FHA increases loan limits in DFW for 2014
In an attempt to not paint a grim picture…..I’m compelled to paint a grim picture. As forecasted in Real Estate Agent Beware! more and more ‘refinance boomer’ mortgage companies will move towards ‘purchase’ business to survive and, well, the domino of train wrecks will commence. It is because of this, my friend, that I felt led […]Read More 6 Steps to a Successful Mortgage Closing
You’ve worked hard to protect your credit score, you’ve been diligent with your savings, and you’ve maintained a stable income. Why is your lender bringing up your debt-to-income ratio? What IS your debt-to-income ratio and how does it affect your qualifying power? First, let’s establish what the debt-to-income ratio is, and then we’ll cover its […]Read More Good credit, down payment AND my debt-to-income ratio??
in my opinion rates WILL remain very attractive even as the feds end their $1.25 Trillion (yes, with a T) mortgage back security program. as long the feds do not begin to sell off their portfolio AND private money enters the mortgage bond market to pick up where the feds left off AND inflation remains […]Read More will low rates last EVEN as the feds stop buying mortg bonds?
the tax credit is due to expire by april 30th….here are the MUST know’s in a quick, clear, concise format.Tax Credit InfoRead More Tax Credit Going AWAY soon!!