Monthly Archives: February 2010

Foreclosures stories dominate the national housing news. It seems at least one foreclosure-related story makes its way to the front page or the nightly news every week. But for as much as the foreclosure filing statistics can be astounding — … Continue reading →

The mortgage lending landscape changes a lot. Rates and guidelines are in constant flux, and it creates preparedness challenges for buyers that aren’t paying in cash. The loan you get today won’t always be the loan you get tomorrow. Because … Continue reading →

The economy’s improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by. Underwriting guidelines are tightening. The data comes from the Federal Reserve’s quarterly survey to its member banks. The Fed asks senior bank … Continue reading →

Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week. Mortgage rates are … Continue reading →

As mortgage lenders tighten approval standards nationwide, the importance of a good credit score is rising. Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also play a large role in determining your … Continue reading →

On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls data from the month prior. The data is more commonly known as “the jobs report” and it swings a big stick on Wall Street. Especially now … Continue reading →

The Pending Home Sales Index rose slightly in December, climbing 1 percent from November. A Pending Home Sale is a home that is under contract to sell, but not yet sold. It’s a figure compiled by the National Association of … Continue reading →

A “Short Sale” is when a home seller sells his home for a lesser amount than what is owed on his mortgage, and the mortgage lender agrees to accept the lesser amount in lieu of a full payoff. By way … Continue reading →

In a news-heavy week, mortgage markets improved last week, adding to a 3-week rally. But, given last week’s data and domestic story lines, it’s surprising that rates actually fell. The Federal Reserve said the economy continues to strengthen Consumer Confidence … Continue reading →