Monthly Archives: October 2011

MORTGAGE RATES IMPROVE WITH HALLOWEEN BOND RALLY

HAPPY HALLOWEEN  :  MORTGAGE RATES IMPROVE: October 31st, 2011 Mortgage rates closed last week the same as they opened – no movement up or down. Halloween marked a far different story. On Halloween, the bond markets traded + 84 bps – pushing mortgage rates and pricing significantly lower. The long term outlook still indicates a […]

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MORTGAGE RATES IMPROVE:

MORTGAGE RATES IMPROVE: October 24th, 2011 Mortgage rates improved slightly last week with the bond market closing + 28 bps on the week. We are still seeing a lot of volatility to in the markets where rates/costs can change a lot in a very short period of time. My recommendation is to lock in pricing […]

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(HARP) HOME OWNER AFFORDABILITY REFINANCE PROGRAM – UPDATED TO HELP MORE UNDERWATER HOMEOWNERS

NEW GOVERNMENT REFINANCE PROGRAM: When the government released the Homeowner Affordability Refinance Program (HARP) product two years ago, they envisioned helping 4 million homeowners get into a better mortgage. As of August, only 894,000 people were able to utilize the HARP product to get into a better mortgage. The basics of the current HARP product […]

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TODAY’S MORTGAGE RATES:

TODAY’S MORTGAGE RATES October 17th, 2011 Last week saw a continuation of the stock market rally from the week before. Stocks were trading higher, increasing the flow of investments from bonds to stocks. The bond market closed -75 bps down – which should have pushed rates a little bit higher. Even so, most rates have […]

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When will I qualify for a mortgage after a short sale or foreclosure?

When will I qualify for a mortgage after a short sale or foreclosure? Many clients who have gone through a short sale or foreclosure after 2007 are now asking me the question, “When will I qualify for a mortgage?” Housing is once again affordable and people want to take advantage of rock bottom deals. Prices […]

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MORTGAGE RATES RISE WITH STOCK MARKET RALLY

MORTGAGE RATES RISE WITH STOCK MARKET RALLY: October 11, 2011 October 2011 has been a great month for the stock market and a bad month for interest rates. The DOW JONES average is up 500 points in October. This recent surge in optimism has taken investors out of the safety of the bond market and […]

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AUGUST 2011 – PHOENIX, ARIZONA’S HOUSING NUMBERS:

October 10th, 2011 PHOENIX, ARIZONA’S AUGUST HOUSING NUMBERS: This summer was a record summer for Single Family Residence leases. There were 6,892 single family leases signed compared to 5,664 in the summer of 2010. The numbers reflect the increasing amount of potential homeowners that can not buy due to foreclosures or short sales on their […]

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30 Year Fixed Rates Down to 3.75%

MORTGAGE RATES RISE, THEN COME BACK DOWN: October 3rd, 2011 The beginning of last week started off bad for interest rates. After hitting their lowest levels ever on the previous Thursday, mortgage pricing took big hits on Friday, Monday and Tuesday. The stock market was up and the secondary bond market was down pushing mortgage […]

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