… frequent press reports about the Federal Reserve Board raising interest rates can cause confusion among concerned mortgage borrowers who don’t understand that the Fed has no direct control in the mortgage market … Continue reading
Hundreds of new mortgage-industry rules in recent years have undoubtedly slowed the housing recovery. Now it appears that all of that regulatory effort could be undone. Should it? Continue reading
The recent housing crisis was in very large part caused by our government and quasi-governmental agencies (Fannie Mae and Freddie Mac) creating incentives for mortgage lenders to make loans that they would not have made otherwise. I’ll be happy to discuss this, but in my opinion it’s incontrovertible. In response to the crisis it created, … Continue reading
I encourage my younger friends and prospective homebuyers to assume that 3.5% will NOT be the long-term mortgage interest rate. We are living in trying economic times with many historically unusual pressures. This too shall pass, and rates will begin to rise. Continue reading
Help to advocate these changes now — talk to friends and business acquaintances, and most importantly contact your representatives in Congress. These changes are needed this year! Continue reading
7 out of every 8 homeowners in this market sample never listed their homes for sale before they were taken in foreclosure! Don’t be one of those 7-of-8 folks! Continue reading
Let’s say the rates bounced “all the way” up to 6%. What would that mean to the average homebuyer? To answer that, consider buying a $200,000 home (near the median in Austin), with a 3.5% down payment on a 30-year fixed rate FHA loan. Here’s what happens to the monthly payment (principal and interest only) as rates go up. Continue reading
What’s going on with rules affecting mortgage lending is horribly misguided …. “AARRGGGHHHHHH!”
Continue reading
If increasing or maintaining your credit score is your top priority, though, you MUST read that article. Continue reading
Last year’s Dodd-Frank financial regulation law requires consolidation of some key forms used every day in the mortgage business. Every time I hear that somebody in Washington is going to “simplify” paperwork I know it’s time to duck. Let’s hope this time is different. Continue reading
