Did you know that all residents of the US have the right to obtain one free credit report from each of the three credit bureaus per year? Since your credit score is more important than ever due to today’s tightening credit standards, it’s the perfect opportunity to take advantage of this benefit.
But Beware…
Although you see commercials offering [...]
he Obama administration on Monday unveiled a new program to help state and local housing finance agencies make more home loans, but some Lee County experts say the program should proceed with caution. The plan will help the agencies finance mortgages for first-time homebuyers and develop rental housing.
The agencies have had a hard time raising [...]
With rates staying virtually unchanged today vs. last Friday, I thought it might be interesting to hear what other “experts” are predicting for rate futures. The Bankrate.com survey is for conforming mortgages only. It does not apply to FHA mortgages, VA mortgages, jumbo mortgages, or super jumbo mortgages. Here are the most recent predictions for the [...]
Read the rest of this entry »Courtesy of Summit Mortgage
You’ve probably heard that the Fed is buying up billions of dollars worth of Mortgage-Backed Securities. But how does this really impact home loan rates and your mortgage?
Basically, the Fed’s actions provide a demand for Mortgage-Backed Securities, which should help keep the ceiling on home loan rates from moving much higher in [...]
Courtesy of Summit Mortgage
A constriction in mortgage product offerings and the ongoing effects of the credit crunch have radically changed our business.
It’s not all doom and gloom. There is still plenty of money available to creditworthy borrowers. But lender guidelines have tightened significantly, and the days of easy credit with no down payment and no [...]
