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Be Positive
On Friday, I heard a commercial for mortgage guy out of Chicago and his message was just all over the place, but it was mostly negative. He was not being negative on his competition, but on the “market” on a whole. I was shocked by his comments. I was thinking what a fail of [...]
Why an Indiana FHA Makes Sense
Are you looking to buy a home in Indiana? Or, are you struggling to keep your home? Perhaps you should consider a FHA Home Loan. A FHA loan is a government-backed loan that generally has a lower interest rate than many conventional more traditional Indiana home loans. So, before you write off this home loan [...]
Read more »The Week Ahead
In anticipation of a strong, government-led stimulus plan, the mortgage markets improved with gusto early last week only to fizzle with equal speed as efforts fell short of expectations. I really think the ball is being dropped on this Porkulus package, they are not getting the right people involved in the development of some stimulus.
The [...]
I am Confident, aren't you
Consumer Confidence fell this month for the first time in three months, reflecting how concerned Hoosiers are for this economy, housing, and the financial system.
The report is not that much of a surprise given that our collective exposure to a near-constant stream of negative news from the likes of CNN and BSNBC. Before long, the [...]
More Good New, just Maybe
A real estate report said Tuesday, that Pending Home Sales ticked higher for December 2008. For a quick clarification, a “pending home sale” is a home under contract but not yet closed.
The report positions Pending Home Sales report is a predictor of future activity, suggesting that home sales will spike 60 days or so.
Yes, Indiana, [...]
Not Good News
Well, rates…after improving for 11 straight weeks, Indiana mortgage rates ticked higher last week. This is according to Freddie Mac’s weekly mortgage rate survey,and the Freddie Mac survey showed that mandatory mortgage fees rose last week.
Well, unfortunately, the bad news for rate shoppers just doesn’t stop there.
Since, Freddie’s survey is done on a Tuesday and [...]
Read more »Looking Past the Headlines
Another week and more screaming headlines about mortgage rates falling to an all-time low. If you are in Northwest Indiana and are not taking advantage of this. I will post the number to the local asylum, they are looking for more nuts.
Freddie Mac published its weekly mortgage rate survey yesterday and it found [...]
Read more »Changes to Indiana FHA refi and streamline programs
Changes have come to an Indiana FHA Lender near you. The HUD Mortgagee Letter 08-40 gives us changes to Indiana FHA refinances and are effective January 1st. This Mad Mortgage Machine update will include guidelines that are not being changed, but I have listed them anyway as a review for those Average Joe LOs that read my [...]
Read more »New Years – NEW RATES
Last week was defined by lower volume and lack of serious conviction, mortgage markets plodded ahead of Christmas last week. Friday’s post-Christmas action was even slower like the lines at local Super-Center that will remain nameless.
After mortgage rates fell the last two consecutive weeks, they held flat last week.
It is a little surprising that mortgage [...]
4.5% Seriously, yes, I am serious
A couple of weeks ago, when I first heard of this so-called idea for the treasury to buy Mortgage Backed Securities to drop the rate. I was unsure what to think of it, but as my phone starts to ring more and more. I am liking it. We are not there yet to 4.5% interest [...]
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