Mortgage rates in Texas have been hot (much like the scorching 100°+ days), bouncing around record levels for a couple of weeks now. While a week ago mortgage rates were the best we’ve seen since last Oct 6th, they have wilted a bit and have given up about 100 basis points (no correlation to the daily [...]
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Safe Haven from The Debt Ceiling Debate
The never-ending, all-too-frustrating Debt Ceiling debate wages on and this has investors taking refuge in the safe haven of the Bond Market. Both Treasuries and Mortgage Bonds are benefiting, while Stocks are taking a big hit. The Debt Ceiling is the legal limit on the total debt the U.S. can accrue – and there are [...]
Don’t Be Scared Over Debt Ceiling Debate
The debt ceiling conversation has been going on for quite a while and the debate heats up to war over taxation, revenue, and how lawmakers define each. With the debates comes much speculation and plenty of scary words of what could happen if Congress doesn’t raise the debt ceiling, and rather quickly. The Treasury says [...]
The Low Down on FHA
FHA insured mortgages are a great option for first time homebuyers who want to take advantage of today’s super low mortgage interest rates but have minimal cash on hand for a down payment. FHA insured mortgages require a low 3.5% down payment which is helpful to many first time homebuyers. While conventional loans offer comparable [...]
Carell, Candy Bars, and Capitalism
As we begin the second half of this year,we get a look at the all important Jobs report. Looking back at initial job claims of the past several weeks, it seems likely that it won’t look so sweet. As we close the first half of the year…QE2 is over, employment still anemic, and Jim Carell [...]
The Mortgage Lending Cycle
Back in the “old” days, if you wanted a home loan you walked into your local bank and completed an application for a mortgage. The Bank used their guidelines and made the decision on your approval. Once approved, the Bank funded your mortgage loan with their own money and kept your mortgage loan on their [...]
Where Are the Jobs?
Jobs are the heartbeat of the US economy. It’s not rocket science that without Jobs, the economy slows. Jobs drive housing and consumer spending which in turn drives company sales and revenue. Revenue, naturally, determines corporate expansion. Each month the Labor Department gives us a read on Job creation. And today it was dismal. The [...]
“What’s Your Rate?”
The most frequently asked question by a consumer to a mortgage professional is, “what’s your rate?” After all, it is what we have been conditioned to ask. Look online and you can get an instant quote as well as see published mortgage rates everywhere….but be cautious about mortgage rates advertised for the masses. Many people [...]
