Blog Archives

Great News for Home Buyers

The benchmark 30-year mortgage rate fell below 5 percent to reach an all-time low of 4.96. This is fantastic news if you want to to buy a home. There are currently some wonderful homes on the Lake Powell real estate

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Focus of TARP Could Shift to Housing

TARP ( you remember the bail – out and the unaccountability of the banks in receipt of the money?) TARP stands for Troubled Asset Relief Program and was initially 700 Billion dollars. The first chunk of money went to the

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30 Year Mortgage Rates are at a Historic Low

From the Associated Press this morning: WASHINGTON Rates on 30-year mortgages fell to a record level for a fourth straight week, dropping to the lowest mark since Freddie Mac started tracking the data nearly 28 years ago. Rates have been

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Help for some renters

Beginning on January 9th, renters who have been paying their rent, yet live in homes or apartments being foreclosed on, by Fannie Mae, will be able to stay in their home. While it sounds reasonable to assume that if a

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Interest Rates and The Like

Yesterday the Fed dropped a key rate to .25%. This rate is not the mortgage rate many of us are used to seeing and chatting about, but rather the overnight rate that banks lend each other money. While this should

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Mortgage Applications Double Last Week

According to an article on Bloomberg.com Mortgage Bankers Association applications to buy a new home or refinance and existing loan rose 112% last week. The rise comes on the news the Federal Reserve is going to buy Mortgage Back Securities.

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The bailout and Mrs. Polks of the country

Understanding the bailout is not going to be an easy task, for anyone. What exactly is being bailed out, who is going to get mortgage relief, and, and, and the list goes on. In the next week I’ll post some

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Summary of the Emergency Economic Stabilization Act of 2008

As of 12:20 p.m. today this bill has failed to pass the House of Representatives. For general information below is a summary of the Act. Jay Thompson, the Phoenix Real Estate Guy, posted the entire draft of the Act on

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Trying to make sense of the financial "bailout"

I’m going to preface this by saying #1 – I am not a mortgage broker and #2 – this is just plain confusing even to those in the business of explaining to the rest of us. That said…. The Page

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Fannie and Freddie Bailout

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