This month’s Frugal Sense winner spends mere pennies to stock up on staples like toothpaste.
Want a vacation? Deals are everywhere
The recession has produced phenomenal travel opportunities. Here’s how to find them.
Resources for Finding the Lowest Mortgage Rates Good faith estimates are not set in stone, but as the name implies, they are as close of a guess as possible so that you can choose a lender and actually get approved for an amount to spend and interest rate. These will show up as “hard” inquiries on your credit history report and actually hurt your credit score. In both cases, make sure you have a strong contract that specifies who owns the home until [...] With these options, you’ll pay a monthly amount to the person selling the home.
Walk In Bathtubs
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You can easily pay off your remaining mortgage amount of $180,000 and still have a nice nest-egg to retire on. The $500 a month grows to $117,000 after 10 years, and $540,000 after 20 years. The float is where you make your money. a marketing company that sells simple software under the brand name of Simple Joe. This article may be freely distributed so long as the copyright, author’s information and an active link (where possible) are included. The [...] Invest Your Home in the Stock Market This effectively reduces your mortgage rate approximately 20%.
San Diego Ca Real Estate
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Mortgage Rates - Rule Of 72 And when in doubt, ask lots of questions. [...] One of the critical skills for determining the efficacy of your current mortgage, and how much you’re going to be paying for it, is the Rule of 72. The Rule of 72 is a common rule of thumb for calculating how much compound interest actually costs, and is used by financial institutions. The rate of a mortgage is usually expressed as a percentage rate, and it’s like the interest rate you pay on a credit card.
Sarasota Florida Real Estate
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How To Deal With Private Commercial Mortgage Lenders In The Financial Crisis If you approach them correctly, with the right information in the right format, they will give your deal an honest look and, if your deal meets their parameters, they will fund you quickly and efficiently. In all communication, keep your tone professional, but be mindful to keep it short and to the point. The global financial crisis has left lots of borrowers out of luck when it comes to buying the commercial land that they need or want. If you have collateral, include an appraisal [...]
Baltimore Maryland Real Estate
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A reader named Cindy asks: “Are mortgage rates predicted to go down next week? What things should I be considering before going ahead?”
MBS MORNING: The Bond Market Has Been Here Before…
Posted To: MBS CommentaryLets do a quick scoreboard check: The dollar is stronger, both gold and oil are getting pounded, stocks are deeeep in the red, and the bond market likes it all. Short covering plus corporate debt pricings plus a flight to quality asset reallocation have brought Treasury yields back from the brink of a range breakdown. Hello stock lever…. Stocks are definitely taking one on the chin today (so is gold and oil). Take a look at sector performance: The immediate effects are obvious in 10s. Currently the 3.375 coupon bearing 10 year TSY note is +0-20 at 97-29 yielding 3.627%. Thats a long way from 3.707%…where we ended the session yesterday. The term "range bound" is starting to bore me. I haven't made up a phrase in a while….instead of "range bound" how about "fenced…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
A note, sent yesterday, from a reader named Matthew.
Mortgage mods for profit
Mortgage rates have held fairly steady since the middle of last week.
Housing Policy: The Message is as Important as the Mechanism
Posted To: Voice of HousingThe nation’s capital is quickly shutting down, now that forecasters are calling for one to two feet of snow overnight. Local authorities warn residents to prepare to “shelter in place” for three days. Expect housing-minded Washingtonians to be hunkered down in their homes this weekend huddled around the fire reading the Obama Administration’s proposal for the future of Fannie Mae and Freddie Mac. Oh wait, that long-awaited plan didn’t materialize this week. ( READ MORE ) Already some folks are taking shots at the Administration for not coming through with new ideas as promised for how to deal with the two housing GSEs. But is that fair? Frankly, a reengineering of the secondary market is going to take some serious time . And brains. It’ll require some of…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS LUNCH: Locking And Floating Ahead Of NFP
Posted To: MBS CommentaryMBS and Tsy's continue to trade at vastly improved levels versus yesterday. the 4.5 is up 15 ticks at 101-09 and has been showing some signs of conceding to resistance at 101-10. Could be "it" for the day, but we shall see… The 10yr Tsy battles similar fizzle as it approaches 3.60 yield, over TEN bps better than last night's going-out levels. Major stock averages are all down over 2%, with the S&P well below recent technicals at 1071 and change. I don't think I could say the following emphatically enough: YOU'RE LOOKING FOR PRICING THAT TAKES AS MUCH OF THESE GAINS AS POSSIBLE INTO ACCOUNT, AND YOU MAY HAVE TO WAIT FOR LATE IN THE DAY! Many of the lenders who hit my email have recently been sending out updates right after 5pm eastern, some almost like clockwork…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Mortgage Demand Picks Up Ahead of Expected Rise in Rates
Posted To: Mortgage Rate WatchMortgage rates held steady yesterday near what might turn out to be the most aggressive levels of 2010. Mortgage backed securities prices did not move too high or too low without quickly correcting, not much progress was made in any direction yesterday or for the last few weeks for that matter . Early this morning, the Mortgage Bankers Association released their weekly Mortgage Applications Index. The MBA survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates an increase in home buying interest, a positive for the housing industry and economy as a whole. More home purchases can lead to more…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS LUNCH: Bonds Soaring As 10yr Flirts With 2009 Ranges
Posted To: MBS CommentaryEven by the time of our last commentary, it was no mystery that we got our bond-friendly eventuality today after the jobs report. That's nice, of course, but somewhere between 3.55 and 3.57, chart watchers will notice that yields held under these levels for the majority of the 2nd half of 2009. It's probable that the short term chart below is picking some of that up in where it decided to offer resistance today. The question is: will Monday confirm this test? And of course we wouldn't talk about such important long term levels without refreshing our collective memory on their validity: In deciding how likely any sort of continuation of this bond rally might be, the stock market continues to suggest itself as a good indicator of bond movements. Sure, this can change from day to day…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
The Day Ahead: Stocks Weaker Before Jobless Claims, Q4 Productivity
Posted To: MND NewsWireEquity markets are in the red across the globe as investors become increasingly concerned that the Greek debt tragedy could spread to other countries in the euro zone. In the US futures are sharply lower. The Dow looks to open 48 points lower to 10,193 while futures on the S&P 500 are off 5.90 points to 1,090.50. “The US$ index is stronger this morning, as the mood is definitely ‘risk off’ with global equity markets selling off,” said Benjamin Reitzes from BMO. “The major currencies are all weaker against the greenback, except the yen which is also benefiting from the shift away from risk.” Commodities are also clearly heading downwards. WTI Crude oil down 71 cents to $76.27 per barrel and Spot Gold is trading $6.17 lower to $1,103.63. Key Events Today…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Rate trends and firecrackers
A reader named Cindy asks: “Are mortgage rates predicted to go down next week? What things should I be considering before going ahead?”
GMAC Cuts Ditech; Top GFE Mistakes; ASF Non-Agency Loan Product Outlook; Biggest Commercial Loan Servicers
Posted To: Pipeline PressMapQuest really needs to start their directions on #5. Pretty sure I know how to get out of my neighborhood. Speaking of neighborhoods, in signs of a rebound from very low levels, according to the MBAA, commercial and multifamily mortgage loan originations in the fourth quarter of 2009 were 12% higher than they were during the same period last year and 15% higher than during the third quarter of 2009. Loans for hotels were up 105%, retail loans were up 101%, industrial property loans were up 59%, but multifamily loans were down 8%. READ MORE Who are the big commercial servicing companies out there? At the end of 2009, Wells Fargo topped the charts with about $475 billion in U.S. master and primary servicing volume. Next were PNC Real Estate/Midland, Berkadia Commercial Mortgage, Bank of America…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Fed MBS Program Update: 94% of Funding Used
Posted To: MND NewsWireThe Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the week ending February 3, 2010, the Federal Reserve purchased a total of $17.63 billion agency MBS. In those five days the Federal Reserve sold $5.63 billion (supported the roll market) for a net total of $12 billion MBS purchases. The goal of the Federal Reserve's agency MBS program is to provide support to mortgage and housing markets and to foster improved conditions in financial markets more generally. Only fixed-rate agency MBS securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae are eligible assets for the program. The program includes, but is not limited to, 30-year, 20-year and 15-year securities of these issuers. Since the inception of the program in January…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
The Federal Trade Commission said it is proposing a new rule that would make up-front fees illegal. It would also bar modification firms from advising borrowers to stop making their payments or stop communicating with their lenders. The move is being made “so companies can’t take the money and run,” the FTC’s chairman said in the statement.
Fed MBS Program Update: 94% of Funding Used
Posted To: MND NewsWireThe Federal Reserve today reported on their weekly purchases of agency mortgage-backed securities (MBS). In the week ending February 3, 2010, the Federal Reserve purchased a total of $17.63 billion agency MBS. In those five days the Federal Reserve sold $5.63 billion (supported the roll market) for a net total of $12 billion MBS purchases. The goal of the Federal Reserve's agency MBS program is to provide support to mortgage and housing markets and to foster improved conditions in financial markets more generally. Only fixed-rate agency MBS securities guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae are eligible assets for the program. The program includes, but is not limited to, 30-year, 20-year and 15-year securities of these issuers. Since the inception of the program in January…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS CLOSE: Highs Of The Year All Afternoon
Posted To: MBS CommentaryGotta love Jan and Feb… Fans of rhetoric finally have a window to use the phrase "of the year" and get off the hook by citing its literal accuracy. Even if MBS are only at two month highs, MBS ARE STILL AT TWO MONTH HIGHS! For reasons such as this, locking in upon determining a reasonable amount of the gains were passed through was the default advice. Of course with the Category One Facemelter characterized by the 16 tick gain, we wouldn't expect to see ALL those gains passed through to rate sheets, especially a day before NFP, but if you got even half of it, it was like a glorious and unexpected gift. And EVEN IF RATES GET BETTER TOMORROW, I don't remember the last time we had the opportunity to lock the best rates in nearly two months on the afternoon preceding NFP. So…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Mortgage Demand Picks Up Ahead of Expected Rise in Rates
Posted To: Mortgage Rate WatchMortgage rates held steady yesterday near what might turn out to be the most aggressive levels of 2010. Mortgage backed securities prices did not move too high or too low without quickly correcting, not much progress was made in any direction yesterday or for the last few weeks for that matter . Early this morning, the Mortgage Bankers Association released their weekly Mortgage Applications Index. The MBA survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates an increase in home buying interest, a positive for the housing industry and economy as a whole. More home purchases can lead to more…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS MORNING: Treasury Funding Needs Stabilizing at Current Levels
Posted To: MBS CommentaryThe prevailing theme is unchanged in the interest rate market today. Choppy range bound price action with trading strategy focused on selling into strength and buying on dips. Earlier in the day, that "buy on dips" theory was tested as 10s approached 3.68%, however the supportive confines of the range held strong and rates bounced lower. The 3.375% coupon bearing 10 year Treasury note is -0-08 at 97-19 yielding 3.67%. Still poking and prodding at supportive pivot points… When we zoom in on 10s, we can see positive progress has been made since early morning rate highs were hit. This is apparent via lower yield lows and lower yield highs aka a downward trend channel. 3.67% is blocking progress at the moment though… In that regard, perhaps the stock lever will give 10s the boost…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Census Bureau: 130.6 Million Housing Units in the US; 18.9 Million are Vacant
Posted To: MND NewsWireThe Census Bureau today released the Report on Residential Vacancies and Homeownership . This data covered fourth quarter 2009. From the release… National vacancy rates in the fourth quarter 2009 were 10.7 percent for rental housing and 2.7 percent for homeowner housing. The rental vacancy rate was higher than the fourth quarter 2008 rate (10.1 percent) and not statistically different from the rate last quarter (11.1 percent). For homeowner vacancies, the current rate was not statistically different from the fourth quarter 2008 rate (2.9 percent) or from the rate last quarter (2.6 percent). The homeownership rate at 67.2 percent for the current quarter was not statistically different from the fourth quarter 2008 rate (67.5 percent), but it was lower than last quarter’s rate (67.6 percent…(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
If you’re saving for retirement, know these five things about automatic enrollment 401(k) plans.
Analysis of Latest RESPA Rule FAQs
The U.S. Department of Housing and Urban Development on Jan. 29 issued another version of its frequently asked questions regarding the new Real Estate Settlement Procedures Act rule. The latest version is dated Jan. 28. For the first time, HUD directly addresses in the FAQs the question of whether a lender who accepts a loan application from a mortgage broker who already issued a good faith estimate can issue the lender’s own version of an initial GFE. HUD advises that the lender may not issue its own initial GFE — the lender is bound by the charges and terms disclosed on the GFE provided by the broker. Reflecting its position that the GFE is a standardized form that may be changed only as expressly authorized by HUD, HUD advises that the pagination of the GFE may not be changed. However, HUD confirms prior informal advice that the GFE may be on legal size paper.
Jumbo Leads Overall Lates Higher
Residential delinquency of at least 60 days increased around 14 basis points between the end of November and the end of December, Lender Processing Services Inc. reported. “Prime loans have experienced a worse pace of deterioration on a relative basis than subprime, FHA and all loans as a whole,” the report said. “Within prime loans, those with current unpaid principal balances between $417,000 and $600,000 have performed the worst.”
Rate trends and firecrackers
A reader named Cindy asks: “Are mortgage rates predicted to go down next week? What things should I be considering before going ahead?”
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