And the Fed…

With the Fed’s key rates all ready at a rock bottom 0-0.25%, no one anticipates rates to be lowered.  Any reaction will be from the release of their announcement which is anytime.  Dan Green, one of my favorite mortgage bloggers, is documenting the impact of today’s Fed announcement to mortgage rates via Twitter.   Check it […]

FOMC Cuts Discount Rate by 0.75%

From the FOMC press release: “The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1/4 percent…. As previously announced, over the next few quarters the Federal Reserve will purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and […]

What should a loan modification look like?

I just wrote this long comment on Jillayne’s post, and decided it needed to be a post of its own.  This loan mod returns the risk premium that was not effective at controlling risk.  It didn’t work…give it back. It also makes the lender partly responsible for approving short term income on a long term […]

I Love Brian Brady's Twitter – You Will Too

I wish I could save this post for Valentines Day!   Earlier this month, fresh from Inman NY, Brian announced that he is going to start posting tidbits of rate info on Twitter.   If you subscribe to Brian’s Twitter, Mortgage Report, you’ll be notified if he feels you should be locking or floating…this is similiar to what […]

5 Steps for Shopping Mortgage Interest Rates

[photopress:693_kick_tire.jpg,thumb,alignright]What?  I’m writing about something I don’t agree with in principle?  True.  I think that many people are spinning their perfectly good wheels in order to try to find a rate they cannot have unless they’re prepared to lock at the precise moment they are shopping.  But, the practice of rate shopping and kicking the […]

Why Selecting a Lender by Rate Alone is Not in Your Best Interest

When Ardell suggested that I post rates on Friday, I was a bit reluctant to do so.   Why?   Because it promotes rate shopping and I don’t believe that is the best way for consumers to select the professional who will be advising them on one of the largest financial transactions they will make in their […]

Puget Sound's Market Conditions Update

Every New Year, my husband’s family makes a trip to Ocean Shores with most of his brothers and sisters and nieces and nephews. It is a tradition that we look forward to which includes as much bowl games you can cram into a weekend, razor clamming, go karts and I get to read the newspaper […]

Exotic Loan Programs and Potential Foreclosures

[photopress:Dollar_20Squeezed.jpg,thumb,alignright]Every “exotic” loan program has a potential appropriate user of that program. What we are seeing more and more today, is the industry using these perfectly good programs inappropriately, to “get the deal done”. Before I go into my take on the situation, let me point out two relevant sites worth reading. One is on […]

Moving Forward…

I’ve been a little busy lately, so I haven’t had a lot of time to give an update on some of my favorite conversations around the web… Nonetheless, I’m back for an abrivated version (i.e. only 9 articles instead of the usual 10)… Beau turned me on to a great article by Jay regarding the […]