Tuesday, June 26, 2012
How high fees for mutual funds whack retirees
CHICAGO (Reuters) - Mutual fund costs will be Topic A this fall around many kitchen tables when workplace retirement savers start receiving the new government-mandated quarterly statements spelling... 
INSIGHT-Evidence suggests anti-foreclosure laws may backfire
* Borrower protection laws hold back recovery, some
economists say 
economists say
Renting Trends in Urban Apartments
Renting is no longer seen as a temporary phase before buying a home, but as a long-term lifestyle choice that supports a full, urban experience.
Source: http://feedproxy.google.com/~r/ZillowBlog/~3/TO_E3n9ixa4/
BRIEF-Moody's takes rating action on twelve interest rate swaps in 10 US RMBS transactions
June 27 (Reuters) - Moody's takes rating action on twelve
interest rate swaps in 10 US RMBS transactions 
interest rate swaps in 10 US RMBS transactions
Home-Court Advantage: Amazing Tennis Homes for Sale
We're serving up the most spectacular tennis courts -- many of them regulation -- that you can find on a private property.
Source: http://feedproxy.google.com/~r/ZillowBlog/~3/tG8EceWHUWw/
FOREX-Euro drops to 2-week low with EU summit ahead
NEW YORK, June 26 (Reuters) - The euro fell to it lowest
a gainst the dollar in more than two weeks o n Tuesday as Spanish
bond yields rose and hopes faded that a European summit would
make progress... 
a gainst the dollar in more than two weeks o n Tuesday as Spanish
bond yields rose and hopes faded that a European summit would
make progress...
Source: http://feeds.reuters.com/~r/news/usmarkets/~3/5xTo_lnvzu8/markets-forex-idUSL2E8HQF7320120626
FHA Streamline Refinance ? New Program Will Help Some Chicago Area Home Owners Save Money
Starting in June, FHA will begin a new program that will help some home owners with FHA mortgages save a lot of money, but many other wise qualified homeowners won?t be able to take advantage of this new program. The new FHA program will allow borrowers who currently have an FHA mortgage to refinance with [...]
FHA Streamline Investor Changes; Other Lender Tweaks to Slow/Control Volume
Mortgage rates are low.
But volume is a problem.
Raise our margins now!
(See Miss Hickox? Your 7th grade haiku section really paid off!)
Fannie Mae bumped up its volume forecast for 2012. According to a new forecast, Fannie's economists now believe that for all of 2012, originations will come in at $1.34 trillion, compared to a month ago forecast of $1.31 trillion. In 2011 mortgage bankers originated $1.45 trillion in home mortgages - wouldn't that be something if 2012 was unchanged from 2011! So instability in Europe, and a "slow recovery" here in the United States, is helping to keep our rates low. That is certainly helping the mortgage industry, and firms are looking to capitalize on the potential volume that is out there and are hiring. (In fact, many investors are absolutely swamped with business - see the lender/investor changes below.) For example...
Independent retail mortgage banker Vitek Mortgage Group is seeking a VP of Mortgage Operations for its Sacramento headquarters. The 25 year old purchase-focused company (teamvitek.com), which has its GNMA seller/servicer approval, continues to grow through builder & realtor partners. This VP position will be responsible for partnering with VP of Production, implementing processes and procedures for consistently meeting contract contingency periods and scheduled close of escrow dates with effective standards for compliance, processing, underwriting, funding and post-closing. Expert pipeline management, strategic leadership, maximizing productivity with on time closings, development and coaching for all of the operations team are requirements of the role. The ideal candidate should have 10+ years of senior operational experience. Candidates should send their resumes to Karen Drew at kdrew@teamvitek .com.
I have been retained by a technology-focused, nationally licensed mortgage lender based in Charlotte, NC, that is seeking a VP of Credit Risk Management to add to its rapidly growing organization. The company will increase volume more than 100% to over $1.5 billion of on-line mortgages in 2012. Key responsibilities include QA/QC reporting on UW's, tracking current investor guidelines and managing company product offerings, cross-functional project management and managing the restructuring of difficult loans for eligibility to be sold on the secondary market. This position will also provide process improvement expertise on work flow for sales and operations and own all on-going communication over underwriting, products, and programs. Requirements include prior experience in project and operations management, experience and understanding of selling direct to FNMA, DE certification (VA SARS a plus), past management of investor/third party relationships and familiarity with IT, system enhancements, and automated underwriting systems with six sigma certification preferred. If interested, please send a confidential resume to me at rchrisman@robchrisman .com.
GMAC Mortgage is expanding its loan origination business at its Costa Mesa, CA location and will be holding an interview event on June 28. "We are hiring processors, funders, closers, operations managers, and pre-funding auditors." Interested candidates should send their resume to OperationsResumes@gmacm .com, and qualified applicants will be contacted by GMAC Mortgage.
Jobs and housing, housing and jobs. Yesterday morning the MBA reported that mortgage applications declined by 0.8% last week following the biggest gain in over a year. Purchase applications reportedly fell -8.5% last week, after soaring up 13% the prior week. (Refi's now account for 81% of new applications.) Mike Fratantoni from the MBA observed that, "Refinance volume increased again last week, but the composition of activity changed markedly. Despite rates remaining near all-time lows, conventional refinance application volume declined, and the HARP share of refinance activity dropped to 20 percent. On the other hand, FHA refinance volume exploded to an all-time high, more than doubling over the week. New, lower FHA premiums on streamlined refinance loans came fully into effect, and borrowers seized the opportunity to lower their mortgage rates without increasing their FHA premiums."
And today we'll have Jobless Claims. That, and the first-Friday-of-the-month unemployment numbers are usually enough to give us a picture of the jobs market. But for further fine tuning, one can watch job opening numbers...and they aren't good.
Recent lender, investor, and MI changes continue, and the ones from yesterday, below this Freddie clarification, are especially indicative of what is going on out there.
First, a clarification on PMI cancellation requirements from Freddie Mac. It should have read, "For an automatic cancellation of MI one 1- unit primary residences: the date on which the LTV ratio of the Mortgage, irrespective of the unpaid principal balance of the Mortgage on that date, is first scheduled to reach 78% based on the original value of the Mortgaged Premises as defined in Section 23.1, or the date on which the midpoint of the amortization period of the Mortgage is reached. (The midpoint occurs halfway through a Mortgage's amortization period. As an example, in the case of a 360-month or 30-year Mortgage with a payment Due Date on the 1st of each month, we deem the midpoint to be the 1st day of the 180th month. Assuming that the 180th month is April 2021, and that the Due Date for the April 2021 payment is April 1, and that the payment record conditions below are met, you must have mortgage insurance canceled effective for the 181st month's payment, i.e., the payment whose Due Date is May 1, 2021.) For an adjustable-rate Mortgage or a Balloon/Reset Mortgage (either HPA or Pre-HPA), the LTV ratio set forth above and the midpoint of the amortization period are both based upon the current amortization schedule following the most recent rate change. Paying down the mortgage principal will not eliminate the need for MI unless the current balance is 80% or less of the current value."
Investors, and lenders, are swamped with business. Anecdotal evidence show minimum review times of 45 days for institutions such as BofA (retail processing) and Chase. Are all the contract underwriters being used by Freddie and Fannie and others to re-underwrite the loans the industry did five years ago? One vet wrote, "See how long does it take to train a new underwriter. If you are out of the industry for 120 days you're probably gone. I have a processor who came back after 3 years, and she lasted 1 week."
Number 11 in total originations in the 1st quarter of 2012, BB&T sent a note to clients, "To align with recent market events, BB&T Correspondent Lending will cease purchasing FHA Streamline Refinance mortgages that are not currently serviced by BB&T effective with new registrations and locks on and after June 21, 2012. Locks prior to June 21 will be honored. Please note that BB&T Correspondent Lending will continue to purchase credit qualifying and non-credit qualifying FHA Streamline Refinance mortgages currently serviced by BB&T. The product parameters have not changed for these mortgages as stated in the FHA Product
Description located on our website."
But then we have "Carrington Mortgage Services remains committed to FHA Streamline Refinance transactions and we continue to accept submissions for this product. As a Ginnie Mae seller-servicer we are uniquely positioned to offer FHA Streamline Refinances regardless of servicer. Our non-credit qualifying FHA Streamline has a minimum FICO of 620, no appraisal, no income documentation and a tri-merged credit report with FICO and mortgage rating only. Visit our website, CarringtonWholesale.com, for more information and our guide to submitting a CMS FHA Streamline Refinance or contact our knowledgeable AE's."
Chase Correspondent was rumored to have followed Wells and the others in "giving the Heisman" (think trophy, with the outstretched arm) to non-same-serviced FHA Streamlines. I have not seen it. What Chase did, however, was increase their jumbo. "The maximum loan amount on Non-Agency products is increasing to $3,000,000 in specific geographic locations." Chase also did something else on trust income documentation requirements, but the focus is on the $3 million - but don't forget those limitations! Check the bulletin.
REMN sent a note out to its clients, "Despite the introduction of a temporary .75% price add-on for conventional refinances announced last week (Announcement 12-09), the number of conventional refinance submissions has continued to increase. Therefore, as part of our ongoing effort to ensure that REMN continues to offer industry-leading service on purchase transactions, the submission of all conventional refinances is temporarily suspended. The suspension does not apply to any loan that has already been submitted (as a full or a lite file) or locked prior to this announcement. To reiterate, this has become necessary in order to preserve our level of service on purchase transactions. As you would expect, the dramatic increase in the volume of refinances has begun to cause our condition review turn times to deteriorate. We are aggressively increasing our staff in order to accommodate more volume without compromising the service you have come to depend upon (including opening an additional underwriting center in Wall, NJ). Once we have successfully increased our staff, we will again accept conventional refinance submissions."
In recent weeks Flagstar reminded its clients that "underwriters are once again available to respond to inquiries which involve existing files only. Underwriters will respond to emails and voicemails (to increase efficiency, please use one method of contact only) that are specific to a loan that has been submitted and reviewed by Underwriting, along with curative questions regarding declined loans. Please provide the loan number and borrower name with your inquiry and allow four (4) business hours for response."
Fifth Third's broker clients received the note: "The items below pertain to Fifth Third's Wholesale Lending: Price Adjustment on VA and FHA Base Loan Amount Greater than $417,000. Effective with all loans locked or relocked after 8:30 am EST on Thursday, June 21, 2012, the adjustment for FHA and VA loans with base loan amount greater than $417,000 will be updated. The rate sheet currently states that for FHA 15 and VA 15 products, with base loan amount greater than $417,000, there is a .75 hit to the pricing. Tomorrow's rate sheet will reflect that this adjustment applies to the FHA 30 and VA 30 products also." (On the correspondent side, 5 3 is going away with full underwrites and is moving to all post close submissions only, rumored due to a lack of capacity.)
The Fed announcement came and went, but by the time the dust settled our 10-yr T-note's yield really hadn't changed that much and it closed at 1.64%. The Fed said that there will be no additional MBS purchases but "Operation Twist" is extended in Treasuries. So it will continue to reinvest principal payments from its holdings of agency debt and agency mortgage-backed securities, buying $267 billion more in longer-dated securities by the end of 2012. Traders seem to view this decision as the Fed maintaining "status quo". The Federal Reserve, by extending its monetary stimulus, pretty much said that a U.S. economic recovery is at risk of stalling. "This continuation of the maturity extension program should put downward pressure on longer-term interest rates and help to make broader financial conditions more accommodative."
The focus on Treasury securities, and not residential mortgage-backed securities, brought an immediate adverse knee-jerk selling response in MBS's. So although Treasury yields didn't do much Wednesday, we saw several intra-day lender price changes as spreads on 30-year 3.5% and 3.0% coupons went from slightly "tighter" throughout the morning to "wider" by .125 to .250 versus the 10-yr.
For thrills and chills today we'll have weekly Jobless Claims (expected to drop slightly), Existing Home Sales for May (also expected down slightly), Leading Economic Indicators (expected up), and the Philly Fed. Lots of numbers - individually they might not nudge rates much, but collectively they could. Too early to tell...
(These are from a book called Disorder in the American Courts, and are things people actually said in court, word for word, taken down and now published by court reporters who had the torment of staying calm while these exchanges were actually taking place - part 1 of 3.)
ATTORNEY: What was the first thing your husband said to you that morning?
WITNESS: He said, 'Where am I, Cathy?'
ATTORNEY: And why did that upset you?
WITNESS: My name is Susan!
__________________________________________
ATTORNEY: This myasthenia gravis, does it affect your memory at all?
WITNESS: Yes.
ATTORNEY: And in what ways does it affect your memory?
WITNESS: I forget.
ATTORNEY: You forget? Can you give us an example of something you forgot?
___________________________________________
ATTORNEY: Now doctor, isn't it true that when a person dies in his sleep, he doesn't know about it until the next morning?
WITNESS: Did you actually pass the bar exam?
____________________________________
ATTORNEY: The youngest son, the 20-year-old, how old is he?
WITNESS: He's 20, much like your IQ.
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/06212012-mortgage-jobs-mortgage-volume.aspx
BMO sees more cost savings from M&I takeover
June 26 (Reuters) - Bank of Montreal expects cost
savings of more than $400 million from its 2011 acquisition of
Wisconsin lender Marshall & Ilsley, higher than previous
estimates, the bank said in... 
savings of more than $400 million from its 2011 acquisition of
Wisconsin lender Marshall & Ilsley, higher than previous
estimates, the bank said in...
Home-Court Advantage: Amazing Tennis Homes for Sale
We're serving up the most spectacular tennis courts -- many of them regulation -- that you can find on a private property.
Source: http://feedproxy.google.com/~r/ZillowBlog/~3/tG8EceWHUWw/
Mortgage Lawsuits Spell Trouble for Lenders
A recent spate of lawsuits has accused mortgage lenders of impropriety or outright fraud at virtually every level of the mortgage process. Moreover, as lenders increasingly find themselves on the losing end, these lawsuits will have important implications for the future of mortgage lending. Bank of America is currently in the process of resolving all [...]
Source: http://news.mortgagecalculator.org/mortgage-lawsuits-spell-trouble-for-lenders/
Learn about Blogging and SyncroCloud this Wednesday!
This Wednesday, June 27 learn about Blogging and SycroCloud. Only $13 for SMC Members and $20 for HBA. HBA staff contact: Jaime Weyrauch (x133 or Weyrauchj@hbastl.com). More information here.
Source: http://stlhba.hbablog.com/2012/06/25/learn-about-blogging-and-syncrocloud-this-wednesday/
Monday, June 25, 2012
How Many Licensees Did Illinois Lose in its Transition?
The single biggest question surrounding Illinois’ new licensing requirements was how the transition process would impact the number of agents working in the state.
Initially, that was a difficult question to answer, especially with all the last-minute submissions IDFPR received before the old requirements expired. We just got new data from the IAR’s Jon Broadbooks, though, and a number is beginning to emerge, at least regarding IAR membership, on how many agents successfully made the transition.
Here’s what Jon sent us:
On May 31, 2012, there were 39,396 members in IAR, down from ...
Initially, that was a difficult question to answer, especially with all the last-minute submissions IDFPR received before the old requirements expired. We just got new data from the IAR’s Jon Broadbooks, though, and a number is beginning to emerge, at least regarding IAR membership, on how many agents successfully made the transition.
Here’s what Jon sent us:
On May 31, 2012, there were 39,396 members in IAR, down from ...
Source: http://feedproxy.google.com/~r/chicagoagentmagazine/news/~3/VVRhmFwpekY/
Wells' Market Share Target and Streamline Change; CFPB's View of Mortgage Brokers; The MBA and 203(k)'s
Industry experts believe that one of the several reasons Countrywide fell was because of their quest for market share for its own sake, rather than have quality and service drive the market share. Conversely, Wells' market share seems to have come about through "always being there" with steady products, pricing, and service - until now? It seems like some portion of Wells Fargo's management or retail personnel is now shooting for market share. Although I doubt if this is the "official" company goal, dressed up like cowboys? How Alt-A era!
The government does what it can to help borrowers, some who perhaps should not been allowed to borrow money in the first place: encouraging loan modifications, FHA Streamlines, HARP, and HARP 2.0 quickly come to mind. But as we've all found out, many times the government can't "make" an investor follow a program, and investors often add overlays or restrictions when their own risk position is compromised.
Regardless, Wells Fargo turned some heads yesterday with its announcement that "Wells Fargo Funding will no longer accept non-Wells Fargo serviced FHA streamline refinance transactions. Wells Fargo is committed to helping borrowers nationwide with their mortgage financing needs, and this decision will help us accomplish that by focusing on borrowers in our existing servicing portfolio. This policy applies to each of our origination channels across Wells Fargo Home Mortgage." For Best Effort Locks, relocks, and renegotiations, it takes effect on and after June 19, and Mandatory Commitments must be delivered on or before July 31, 2012. "This restriction does not apply to Wells Fargo serviced loans." And "Wells Fargo Funding will continue to purchase FHA Regular Credit Qualifying Refinances (includes Rate and Term and Cash out Refinances) provided they meet FHA's definition of a Regular Credit Qualifying Refinance with an appraisal. This includes both non-Wells Fargo serviced loans and Wells Fargo serviced loans."
As most underwriters know, Wells offered traditional streamline refi's without appraisals (with a few exceptions) down to 640 FICO up until this announcement regardless of servicer. Most other investors, if they allow these at all for loans they didn't service, require an appraisal. So it would seem that Wells joined other investors, from a risk perspective. There might be capacity issues, since starting yesterday borrowers with loans endorsed prior to May 31, 2009 can take advantage of reduced MIP on a streamlined loan. Throw this in with a low rate environment, and here we have it.
Speaking of Streamlines, the FHA has posted new Frequently Asked Questions (FAQs) on Streamline Refinance Transaction Indemnification. To view the new FAQs go here.
Earlier this week I told a group of lenders in Arizona that the stated mission of the CFPB is great from a public relations perspective, but if not controlled can drive our industry into a hole. One person reminded me that, "The good parasite doesn't kill its host," not that the CFPB is a parasite - but you get the idea. But one can certainly obtain a sense of the CFPB's thoughts from remarks by Raj Date, Deputy Director of the CFPB, to some bankers in Florida this week. Date reminded us that, "The Dodd-Frank Act was passed in response to the crisis and created the CFPB as a single point of accountability for consumer financial protection." That is a good thing. But Date goes on to say, "The Bureau can, for the first time, extend federal supervision to non-depositories. (Editor's note: any company who thinks that they can't be audited by the CFPB is incorrect. And you'd better have every rate sheet from every day, and every rate/price calculation, ready for them.) This is a critical advantage. After all, if you think back to the most problematic vintages of mortgages during the bubble - for example, subprime and Alt A mortgages between 2005 and 2007 - most of those problematic mortgages were originated not by supervised banks, but by mortgage brokers and finance companies who then sold those loans into capital market execution on Wall Street. The results, needless to say, were not great."
Date goes on. "Let me give you an example from the mortgage bubble: the yield-spread premium. Too often it was the case that mortgage brokers were paid more to give borrowers a worse deal. If a borrower could qualify for a loan at, say, 6 percent, a broker might juice that rate from 6 percent up to 8 percent. As a result, the most important, most visible person in the mortgage process for many borrowers - the mortgage broker - had a financial stake that was confusingly and perversely in direct opposition to the interest of the consumer himself. If people are paid to treat customers poorly, it shouldn't be surprising when they do." The entire speech can be read here.
It is rumored that Marc Savitt, president of the National Association of Independent Housing Professionals (NAIHP) called Date's comments "outrageous" and that the NAIHP is calling for Date's resignation, per MReport. "The banks approved these loans, not the brokers." While Date speaks of 'transparency, fairness, and proper financial incentives,' Savitt believes Date's bias makes him unfit for his role." When I, however, visit the NAIHP website and try to find news of this, up pops something from March of 2011. Maybe I just couldn't see it: http://www.naihp.org/inthenews.
But for something that can be found on a website, the Mortgage Bankers Association (MBA) has called on the U.S. Department of Housing and Urban Development (HUD) to cease its moratorium on allowing investors to participate in the department's Section 203(k) rehabilitation loan program. The moratorium was put in place in the mid-1990's due to fraud and waste which, per the MBA, have been taken care of. "The MBA believes that there would be significant benefits from allowing individual investors to participate in the 203(k) program." Read the release.
How about some relatively recent Wells updates, besides the Wells news at the top? As always, it is best to read the actual bulletin.
Wells Fargo Wholesale has introduced new tools, including an FAQ section and a reference document that outlines definitions, eligibility, and documentation requirements, to assist in completing loan packages that involve trusts. These can be found under Client Tools on the Broker's First® website.
Effective immediately, Wells has reduced and aligned simultaneous home equity fixed rates in all states for the HELOC with Fixed Rate Advance Options, with the reductions ranging from 0.75% to 0.25% depending on the state. One- to three-year Interest-Only Fixed Rate Advances now start at 4.975%, and amortized fixed rate pricing starts at 5.375%.
For those who want to cancel an existing FHA Case Number to take advantage of the FHA's reduction of the MI premium for Streamline refinances, Wells has outlined the necessary process. The endorsement date of the loan being refinanced and the eligibility should first be determined and the original Case Number validated. The endorsement/insured date listed on the HUD-1 Settlement Statement or Note should then be confirmed by emailing the Wells support team at websupport@wellsfargo.com or calling (866)661-8025. If the loan is eligible, this should be discussed with the borrower; if the borrower opts to move forward, the new Case Number should not be ordered until June 11th at the earliest. For loans that have been submitted to Wells that are in process and for which the Case Number has been ordered and assigned, the Wells web support team should be contacted using the FHA Case Number Cancellation Request form. When the Case Number has been assigned, the underwriter should be notified and the new Case Number assignment print-out submitted along with the file. Delays are likely due to the expected high volume of requests.
Wholesale clients are reminded that the "Your Loan Options" section of the MBFD should be completed fully and accurately before submitting the loan to Wells Fargo. To properly fill out this section, the loan with the lowest interest rate should be disclosed as the first option and the loan with the lowest dollar amount as the third option. In order to avoid steering the borrower to a specific loan, the options must include the loan with the lowest interest rate, the lowest rate without risky features, and the lowest dollar amount of points and origination fees on the first three lines, which means that the fourth line cannot be lower than the rates and dollar amounts shown above.
Beginning June 15th, Wells Wholesale will accept only 2010 and 2011 tax returns. Tax returns from 2009, however, may still be requested by the underwriter. Let's hope they all agree with the 4506! And June 18th marks Bunker Hill Day in Suffolk County, MA, and will be excluded by Wells Wholesale in the business day count for Right of Rescission timing. Very exciting!
On a relative basis, the markets were pretty quiet Tuesday. MBS sales volumes picked up a little, but with little news from Europe and nothing in the United States, aside from a $24 billion 3-yr note auction, the market decided it was time to drop a little. MBS prices were down/worse slightly, but not as much as the 10-yr T-note which worsened by about .5 in price and closed at 1.66%. But keep in mind that nothing in Europe has been resolved, the Greeks will hold yet another election Sunday, QE3 is still an option, and the FOMC will release its monetary policy statement next Wednesday.
As for the early going today, we had the MBA's application index for last week showing a big jump in apps (+18%!) and hitting their highest level since 2009. Refi's were +19% and purchases were up about 13%. Refi's are still hovering around 79% of overall applications. We also had the Producer Price Index for May, -1.0%, and Retail Sales -.2% following April's -.2%. Producer Prices dropped more than expected, while Retail Sales, representing about 2/3 of our GDP, came in about as expected. The Treasury will auction $21 billion in 10-year notes at 1PM EST today. Currently MBS prices are roughly unchanged from Tuesday's close and the 10-yr is at 1.64%.
The 5 toughest questions for men. (Part 4 of 5; guaranteed to get me into hot water, but I will gladly print the opposing view if someone sends it to me.)
1. What are you thinking about?
2. Do you love me?
3. Do I look fat?
4. Do you think she is prettier than me?
5. What would you do if I died?
What makes these questions so difficult is that each one is guaranteed to explode into a major argument if the man answers incorrectly (i.e. tells the truth). Therefore, as a public service, each question is analyzed below, along with possible responses.
Question # 4: Do you think she's prettier than me?
Once again, the proper response is always: "Of course not!"
Incorrect responses include:
a. Yes, but you have a better personality.
b. Not prettier, but definitely thinner.
c. Not as pretty as you when you were her age.
d. Define "pretty."
e. Could you repeat the question? I was just thinking about how I would spend the insurance money if you died.
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/06132012-fha-streamline-program-wells.aspx
Feedback Matters: Introducing the Zillow Agent Advisory Board
It is both exciting and an honor to announce today the formation of the Zillow Agent Advisory Board. Consisting of 21 practicing real estate agents/brokers from [...]
Source: http://feedproxy.google.com/~r/ZillowBlog/~3/7S9Bt7hb8Xk/
Mortgage Rates : Moving Lower On Soft Employment, Housing Data
30-year fixed rate mortgage rates are averaging 3.66% nationwide for borrowers willing to pay 0.7 discount points.
Click for the complete post : Mortgage Rates : Moving Lower On Soft Employment, Housing Data.
Mortgage Rates : Down Nearly 1 Percent In One Year
The 30-year fixed rate mortgage rate fell to 3.66% this week -- a new low. The Refinance Boom continues.
Click for the complete post : Mortgage Rates : Down Nearly 1 Percent In One Year.
5 Things Not Necessarily Included in Your Home Purchase
The buyer of a historic Victorian home in upstate New York fell in love with the gigantic antique mirror in the foyer. The mirror looked as [...]
Source: http://feedproxy.google.com/~r/ZillowBlog/~3/p_VanWFZKMw/
Vacation Rentals ? Huge Rents? Any Profits?
Borrowing from the boat owners’ passel of proclamations, may I suggest:�“The best two days of a vacation rental owner?s life are the day he buys it [...]
Source: http://feedproxy.google.com/~r/ZillowBlog/~3/R_7VY_Zjt40/
Mortgage rates continue their record-breaking streak
Below is an excerpt from the latest Market Trends newsletter, available Friday night in your inbox:
Mortgage rates continued to set new record lows last week, as the Federal Reserve reported that economic activity expanded at a moderate pace across its 12 districts.
HSH.com?s broad-market mortgage tracker ? our weekly Fixed-Rate Mortgage Indicator (FRMI) ? found that [...]
Mortgage rates continued to set new record lows last week, as the Federal Reserve reported that economic activity expanded at a moderate pace across its 12 districts.
HSH.com?s broad-market mortgage tracker ? our weekly Fixed-Rate Mortgage Indicator (FRMI) ? found that [...]
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