Monthly Archives: July 2009

The government’s First-Time Home Buyer Tax Credit expires December 1, 2009. If you expect to use the program in conjunction with a home purchase, therefore, you may want to consider yourself officially “on the clock”. Assuming a 60-day window between … Continue reading →

For the fourth consecutive month, the country’s foreclosure activity was dominated by a small number of states. As reported by RealtyTrac.com, more than 50 percent of the country’s foreclosure-related actions in June concentrated in just 3 states: California Florida Nevada … Continue reading →

Mortgage markets worsened for the third straight Tuesday after the government reported June’s Retail Sales report came in slightly better than expected. Since falling to near 5.000 percent last week, 30-year fixed conforming mortgage rates have risen by almost 3/8. … Continue reading →

If you’ve been driving lately, you’ve noticed that the cost of a fill-up has gone down. According to GasBuddy.com, retail gas now costs $2.52 per gallon, on average nationwide. Since peaking in mid-June, gas prices are down 6 percent. For … Continue reading →

Mortgage markets improved last week on fresh concerns about the U.S. economy. With data showing neither overt strength nor weakness, and with earnings season about to start, traders got defensive with their money and parked it in bonds. As a … Continue reading →

Sometimes, saving money on your mortgage is as simple as picking a better closing date. It’s all about Rate Lock Commitments. A Rate Lock Commitment is a bank’s promise to honor a specific mortgage rate for a specific period of … Continue reading →

Down economies reduce consumer spending, creating a bind for retailers. As excess inventory collects dust, companies have little choice but to drop prices in hopes of selling more product. For the bargain shopper with extra cash right now, there are … Continue reading →

For the first time in nearly six months, Fannie Mae is imposing strict, new guidelines on American homeowners. This time, the hardest hit demographic is owners of 2-unit homes. In its official announcement, Fannie Mae listed the following changes to … Continue reading →

Last week’s jobs report is the latest data point to drag down rates for today’s home buyers and would-be refinancers. As reported by the government, the national Unemployment Rate rose to 9.5 percent in June — a 25-year high. As … Continue reading →

Mortgage markets were relatively calm throughout last week’s holiday-shortened trading sessions. After trading within a tight range between Monday and Wednesday, a weak jobs report helped edge rates lower into the weekend. For the second week in a row, mortgage … Continue reading →