Monthly Archives: December 2007

Conforming mortgages are getting more expensive — but not because of mortgage rates. To protect against further weakness in the housing sector, Fannie Mae and Freddie Mac are instituting “delivery fees” on all conforming mortgages, effective March 2008. Fannie Mae’s … Continue reading →

The Fed lowered the Fed Funds Rate by 0.250%. The rate decrease was not well-received, though, as many investors were calling for a deeper cut of a half-percent. In response, dollars moved from stock markets to bond markets and, therefore, … Continue reading →

The Federal Open Market Committee meets today and will release a public statement at 2:15 P.M. ET. It is widely expected that the FOMC will lower the Fed Funds Rate by at least 0.250%. When the FOMC lowers the Fed … Continue reading →

Among lingering doubts about housing and credit markets, and a general uncertainty about the U.S. economy, the mortgage bond market tanked towards the latter part of last week. As investors moved away from mortgage bonds, mortgage rates forcefully bounced off … Continue reading →

Thursday, the White House revealed its HOPE NOW program, aiming to help sub-prime borrowers freeze their initial “teaser” rates for a period of five years. The program is receiving a lot of ink in the newspaper dailies but sometimes it’s … Continue reading →

Credit scores are the best predictor of how a homeowner will pay on a mortgage, so it’s no surprise that credit scores will play a bigger role in mortgage financing in 2008. Actually “that date” is more clearly defined. It’s … Continue reading →

As a homeowner, your financial obligations extend beyond your monthly mortgage payment. Periodically, you are also required to pay real estate taxes and homeowner’s insurance premiums. Each month, you pay your mortgage payment to a company called a “mortgage servicer” … Continue reading →

October’s New Homes Sales report showed a modest month-over-month improvement from September. Before we interpret that to mean that the housing market is rebounding, though, let’s consider the fallibility of the New Home Sales report. On the Census Bureau’s Web … Continue reading →

If you enjoy roller coaster rides, last week’s mortgage markets were a delight. Up and down mortgage rates went, trying to find a balance between inflation and recession (or maybe neither). A major cue for markets last week came from … Continue reading →