Monthly Archives: May 2010

A mortgage approval is never final until it’s funded. A host of things can “go wrong” while your home loan is underway. Some are in your control, many more are not. And just being aware of some potential pitfalls could … Continue reading →

The national foreclosure rate is finally falling. According to foreclosure-tracking firm RealtyTrac.com, the number of foreclosure notices dropped 2 percent between April 2009 and April 2010. 2 percent may not seem like much, but it’s the first time in the … Continue reading →

Relocate America recently released its 2010 list of Top 100 Places To Live In America. The rankings are topped by some cities you may expect, and some you may not. According to Relocate America, the rankings highlight communities “moving in … Continue reading →

Shopping multiple lenders for a “good mortgage rate” can sometimes save you 1/8 percent on your rate and/or a few hundred dollars in fees. However, when it comes to getting the best mortgage rate, you’re going to more than good … Continue reading →

Mortgage markets improved to their best levels of 2010 last week, aided by events half a world away and ongoing safe haven buying. Greece’s debt problems continue to help mortgage rate shoppers around the country. Conventional mortgage rates dropped last … Continue reading →

On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls report. More commonly called “the jobs report”, Non-Farm Payrolls is a major market mover. The number of working Americans is directly tied to the health of … Continue reading →

The Federal Reserve says that financial markets “remain supportive of economic growth“. Residential mortgage guidelines, however, continue to tighten. If you’ve applied for a home loan recently, you probably felt it; extra scrutiny on income, assets and credit scores, among … Continue reading →

The Pending Home Sales Index moved higher in March as home sales were spurred by low mortgage rates and an expiring tax credit. A “pending home” is a property that is under contract to sell, but not yet closed. March … Continue reading →

For the first time this year, Fannie Mae announced significant updates to its mortgage underwriting guidelines. The changes include newer, harsher ARM qualification standards, the elimination of a once-popular loan product, and tighter rules for interest only mortgages. Fannie Mae … Continue reading →

Mortgage markets improved last week on tame inflation data, a benign statement from the Federal Reserve, and ongoing credit problems in Greece. The factors combined to drop conforming mortgage rates to their lowest levels in 6 weeks. It’s an unexpected … Continue reading →