Monthly Archives: March 2009

The Federal Open Market Committee begins a scheduled, 2-day meeting today to discuss the country’s monetary policy. As is custom, the group will issue a press release to the markets upon adjournment. There are 8 scheduled FOMC get-togethers annually and … Continue reading →

Mortgage markets lost a little bit of ground last week, edging mortgage rates higher in a week marked by the largest stock market gains since November. Once again, mortgage rates couldn’t sustain a rally of more than 5 days. Not … Continue reading →

“Most of the biggest real estate fortunes were not made in good times, but in bad times like this” Barbara Corcoran reminds us in this talk with NBC. It’s important perspective for Americans wondering how to invest in foreclosed properties … Continue reading →

You know you’re in the middle of an economic crisis when an accounting issue become Front Page News, and that’s exactly where we’re at today. Mark-to-market accounting is having its day in the sun and people in need of mortgage … Continue reading →

The basis of most mortgage lending is credit scoring. In general, the higher a person’s credit score, the lower his offered mortgage interest rate. Despite the many credit scoring models in use today, however, just 3 are relevant to American … Continue reading →

USA Today ran this 2008 Foreclosures By State heatmap last week, reminding us of a simple truth: Headline statistics can be misleading. According to data compiled by RealtyTrac, 1 in 8 U.S. homes were in various stages of default or … Continue reading →

Mortgage markets improved last week with investors’ renewed aversion to risk. To the benefit of home buyers, as major stock indices touch 12-year lows, investors are moving investible cash to the bond market. For only second time this year, mortgage … Continue reading →

If you asked an economist why home prices have broadly fallen over the past 2 years, you’d get a short lesson in Supply and Demand. Too many homes for sale and not enough people to buy them pushed values lower … Continue reading →

When the White House first introduced the Making Home Affordable program in February, it was positioned as a mortgage program with two goals: To help financially-needy homeowners get mortgage relief To help homeowners who’ve lose equity qualify for today’s low … Continue reading →

As part of the American Recovery and Reinvestment Act of 2009, the IRS has officially released Form 5405 — better known as the First-Time Homebuyer Credit Form. True to tax code standards, the 10-field form is accompanied by 3 pages … Continue reading →