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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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 [...]
“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 [...]
Memorial Madness for Mortgage Rates?
North Dallas has enjoyed some terrific mortgage interest rates lately as mortgage backed securities have been trading in a very positive range. In fact, mortgage interest rates are at the lowest levels this year! However, they are capped off by a strong ceiling of resistance which is a huge roadblock to further improvement. Heading into [...]
Questions of a Home Buyer
Home buying workshops and Lunch & Learn’s have been around a while and are great places to learn about the home buying process. From what I’ve seen, the content is relative, educational, and helpful to the audience. I am holding a presentation for potential home buyers soon. Like with all my presenting engagements, I got [...]
Housing: Where Opportunity and Affordability Meet
Earlier this week I wrote about the Home Opportunity Index and how homes are more affordable today than ever before. The last time you could pick up a home around $176K at a mortgage interest rate in the 5’s…was in 2003. And the rate was barely in the 5’s, really more like “almost 6%”. Eight [...]
The Price is Right for Buying a Home
Turn on the television, open the newspaper, or ask any random person walking down the street and they will tell you that the housing market is flat and homes aren’t selling. Really? Well, the market is certainly sluggish (and perhaps flat in some areas) and there is a lot of housing inventory out there to [...]
Protect Yourself! Protect Your Credit!
In the movie, War of the Roses, Danny DeVito cautions, “When a couple starts keeping score, there is no winning…only degrees of losing.” There is a lot of work involved to avoid the score keeping, not to mention to protect yourself and secure your future. But it doesn’t have to turn into the knock-down [...]
