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Category Archives: The Economy

Short Sale : How Do I Write A Hardship Letter?

Short SaleThere are alternatives to bankruptcy or foreclosure for home owners who can no longer afford to keep mortgage payments current – It’s called a “short sale”. A short sale is when a property is sold for less than its remaining mortgage principal balance, and executed as a way for both the existing homeowner and mortgage lender to cut their respective losses.

Typically, although not always, short sales are reserved for situations of extreme financial hardship; just prior a bank beginning foreclosure proceedings.

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Coming Soon : New, Mandatory Loan Fees For All Conforming Mortgages

New g-fees threaten low mortgage ratesBeginning as soon as next week, new, mandatory mortgage fees will push mortgage rates higher throughout Sacramento and nationwide. Fannie Mae and Freddie Mac are raising their respective “guarantee fees”.

Guarantee fees are fees that mortgage-backed securities providers charge to lenders for mortgage-related services including the bundling, selling and reporting of mortgage-backed bonds.  Read the rest of this entry »

 
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Posted by on September 7, 2012 in The Economy

 

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The Treasury Market is Getting Better Today. So Why Aren’t Mortgage Rates Getting Better Too?

Click on the Photo for Enlarged Version. Much easier to read!

With last Friday mornings report, the Bureau of Labor Statistics released its Non-Farm Payrolls report. More commonly called “the jobs report”. Depending on the strength — or weakness — of the data, mortgage rates will change. As expected, the numbers were not as good as we hoped for and money started to flow into the “safe haven” of mortgage bonds. Read the rest of this entry »

 
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Posted by on July 9, 2012 in The Economy

 

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Mortgage Rates Climb Sharply After Retail Sales Report

The U.S. economy is expanding, fueled by a renewed consumer optimism and increased consumer spending.

As reported by the Census Bureau, Retail Sales in February, excluding cars and auto parts, rose 1 percent to $335 billion as 11 of 13 retail sectors showed improvement last month.

February markets the 19th time in twenty months that U.S. Retail Sales increased on a month-over-month basis. Couple this with 24 consecutive months of job growth and you have an economy that is showing some fight! Read the rest of this entry »

 
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Posted by on March 15, 2012 in The Economy

 

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Lock Your Mortgage Rate : New Loan Fees Expected Within Days

Payroll tax fees for new loansStarting soon, nearly all home buyers and refinancing households throughout California and nationwide will pay higher mortgage loan fees. Congress has made it law.

As a Lender in Natomas, California, I am prepping my clients for higher fees. 13 months ago, as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Congress enacted a one-year cut to FICA payroll taxes. Read the rest of this entry »

 
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Posted by on January 10, 2012 in Mortgage Blog, Mortgage Rates, The Economy

 

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Housing And Mortgage : The Experts Make Their 2012 Predictions

What's next for housing in 2012As the new year begins, there are no shortage of stories telling us what to expect in 2012. Housing finished 2011 with momentum and mortgage rates closed at the lowest rates of all time.

Some expect those trends to continue through the first quarter and beyond. Others expect a rapid reversal.

Who’s right and who’s wrong? Read the rest of this entry »

 
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Posted by on January 4, 2012 in The Economy

 

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