Guaranty Mortgage

On Thursday the Census Bureau and the Department of Housing and Urban Development released figures for new home sales in April that showed a big increase in sales and a drop in both median and average home sale prices. Media coverage has speculated that the both outcomes were a result of price cuts by builders in an attempt to get product moving and inventories reduced. On Friday the National Association of Realtors released its report on the April sales of existing homes. The data showed a… Read More Now

Mortgage Rates Remain Relatively Stable, Again
“Low employment growth in April - the slowest pace since November 2004 - and downward revisions to both February and March job growth tempered market concerns of future increases in the rate of inflation,” said Frank Nothaft, Freddie Mac vice president and chief economist. “As a result, mortgage rates were little changed this week.” The Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ended May 11 showed a little more definitive movement… Read More Now

Home sales register declines
House resales fell 6.6 percent in the first three months of this year compared with the first quarter of 2006. Prices of resold homes fell 1.8 percent.

High rollers bet on bond yeilds
Twenty bucks says that, in Bankrate’s final mortgage rate survey of the year, the average 30-year rate will be 6.32 percent or higher.

Virgin Acquires Majority Stake In Family-Centered Mortgage Company
Never underestimate Sir Richard Branson. The mega-millionaire Brit has been an innovator from the beginning of his career and now it is hard to remember exactly when and where that started because his company, Virgin, is into so many industries and Sir. Richard himself seems to be everywhere. Now Virgin is officially in the mortgage business. But it is a mortgage business with a real twist… Read More Now

Home Builder Confidence Is Down And Permitting Appears To Reflect It
NAHB’s chief economist David Seiders said, “The pattern of building permits clearly shows that the dramatic downward correction in housing production still is underway. Home buyer demand has been sent into another down leg by the abrupt tightening of mortgage lending standards, and there is an increasingly heavy supply of vacant housing units on the market. Under these conditions…” Read More Now

Benign PPI belies pump jumps
The Producer Price Index, which measures changes in wholesale prices, rose 0.7 percent in April.

Local MLS shuts down Redfin house review feature but other sites are still sponsoring them. In the meantime the CBS/NAR squabble goes a few more rounds.
There is some additional news and a bit of a sidebar to the story about the 60 Minutes feature on Redfin a week or so ago and the strong reaction of the National Association of Realtors to that story. The run-up can be read here. Read More Now

Mortgage Rates Move Up On Inflation Worries
According to Frank Nothaft, vice present and chief economist of Freddie Mac, “Mortgage rates inched up this week following the Federal Open Market Committee statement reiterating that the predominant concern remains the risk that inflation will fail to moderate as expected. However… Read More Now

NAR Counterpunches After 60 Minute Segment on Discount Agents
It didn’t take the National Association of Realtors (NAR) long to come out swinging at CBS after the network aired a report on discount real estate brokers. The report, anchored by Leslie Stahl was aired on 60 Minutes last Sunday and can be seen in its entirety by visiting our video news page. Read More Now

NAHB’s chief economist David Seiders said, “The pattern of building permits clearly shows that the dramatic downward correction in housing production still is underway. Home buyer demand has been sent into another down leg by the abrupt tightening of mortgage lending standards, and there is an increasingly heavy supply of vacant housing units on the market. Under these conditions…” Read More Now

Maximizing mom’s money in CDs
You want to make sure all the money is covered by deposit insurance, says Dr. Don.

Second Life Businesses Can Rake In Some Surprising Profits and Participants
But a big part of the Second Life economy is virtual real estate and besides entrepreneurship many factors motivate residents to purchase property. People want privacy in their second life, they want a place to bring their friends or gather with people of similar interests, and they want a place to use Second Life’s creative tools to build homes, castles, and fantastical structures. All of this is driving an active and pricey real estate market. And some surprising players in the real world of real estate are taking notice. Read More Now

Bernanke: Bad credit? No prob!
Lots of people own houses but can’t afford them. So it would be better for our society if the homeownership rate were lower. Is that an unreasonable conclusion?

NAR Counterpunches After 60 Minute Segment on Discount Agents
It didn’t take the National Association of Realtors (NAR) long to come out swinging at CBS after the network aired a report on discount real estate brokers. The report, anchored by Leslie Stahl was aired on 60 Minutes last Sunday and can be seen in its entirety by visiting our video news page. Read More Now

Mortgage Rates Remain Relatively Stable, Again
“Low employment growth in April - the slowest pace since November 2004 - and downward revisions to both February and March job growth tempered market concerns of future increases in the rate of inflation,” said Frank Nothaft, Freddie Mac vice president and chief economist. “As a result, mortgage rates were little changed this week.” The Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ended May 11 showed a little more definitive movement… Read More Now

Executives from two big servicers along with a New York ratings agency director shared their insights at a Nevada subprime conference earlier this month. “We’ve gone old school,” said a Ceo panelist. He said servicers must get “eye to eye” with delinquent borrowers who won’t answer telephone calls or letters.

Home sales register declines
House resales fell 6.6 percent in the first three months of this year compared with the first quarter of 2006. Prices of resold homes fell 1.8 percent.

On Thursday the Census Bureau and the Department of Housing and Urban Development released figures for new home sales in April that showed a big increase in sales and a drop in both median and average home sale prices. Media coverage has speculated that the both outcomes were a result of price cuts by builders in an attempt to get product moving and inventories reduced. On Friday the National Association of Realtors released its report on the April sales of existing homes. The data showed a… Read More Now

Checking safety of Internet banks
You should be safe if you check out the bank on Bankrate, says Dr. Don.

If the account is covered by FDIC you should be safe, says Dr. Don.

“Low employment growth in April - the slowest pace since November 2004 - and downward revisions to both February and March job growth tempered market concerns of future increases in the rate of inflation,” said Frank Nothaft, Freddie Mac vice president and chief economist. “As a result, mortgage rates were little changed this week.” The Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ended May 11 showed a little more definitive movement… Read More Now

Overspending? Try a 7-day challenge
If you’d like to get a handle on your spending habits, all it takes is a small notepad and a bit of determination.

House resales fell 6.6 percent in the first three months of this year compared with the first quarter of 2006. Prices of resold homes fell 1.8 percent.

Using savings account as collateral
A savings account is iffy but a CD loan is often possible, says Dr. Don.

Target funds: a solution for busy boomers
Do you find investing too time-consuming? The mutual fund industry has an answer: target-date funds. Just pick the year you want to retire, and it periodically reallocates the risk for you.

Will sellers or buyers blink first?
Will sellers drop prices in response to a big supply of houses for sale, or will buyers finally have to pony up?

Benign PPI belies pump jumps
The Producer Price Index, which measures changes in wholesale prices, rose 0.7 percent in April.

Save money and the earth
Recycle plastic jugs to grow vegetables says the winner of the latest Frugal $ense contest.

Checking safety of Internet banks
You should be safe if you check out the bank on Bankrate, says Dr. Don.

15 ways to save money on gas
Save on fuel costs with these easy tips.

Every so often a house comes on the market that is said to be stigmatized. Most of the time the stigma is in the mind of one or two buyers, but sometimes it will be a serious issue for multiple buyers and can affect the marketing of the property. Read More Now

Home Equity Still Being Pulled Despite Soft Housing Market
Declining home sales and prices have not succeeded in discouraging homeowners from pulling equity out of their homes according to Freddie Mac’s quarterly refinance review for the first quarter of 2007. The corporation reported that 82 percent of Freddie Mac-owned loans that were refinanced during the quarter resulted in new loans that were at least five percent larger than the original amount of the previous mortgage. This is… Read More Now

Mortgage Rates Remain Relatively Stable, Again
“Low employment growth in April - the slowest pace since November 2004 - and downward revisions to both February and March job growth tempered market concerns of future increases in the rate of inflation,” said Frank Nothaft, Freddie Mac vice president and chief economist. “As a result, mortgage rates were little changed this week.” The Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ended May 11 showed a little more definitive movement… Read More Now

Foreclosure Help On The Way
Loanpage.com recently touted how its mortgage loan calculators, mortgage glossary and lender directory can assist delinquent borrowers. As part of an approach to address the increase in foreclosures in the Golden State, the California Business, Transportation and Housing Agency and the State and Consumer Services Agency will educate the public about mortgage issues through a new Web site and a series of town hall meetings statewide, in partnership with local legislators. The New Yorkers for Responsible Lending coalition planned a news conference Wednesday to call on state lawmakers to end predatory lending practices and in which it will unveil model legislation that will create new affordability standards on loans, according to a press release.

Benign PPI belies pump jumps
The Producer Price Index, which measures changes in wholesale prices, rose 0.7 percent in April.

Twenty bucks says that, in Bankrate’s final mortgage rate survey of the year, the average 30-year rate will be 6.32 percent or higher.

Home sales register declines
House resales fell 6.6 percent in the first three months of this year compared with the first quarter of 2006. Prices of resold homes fell 1.8 percent.

Underwriting Innovations, Constrictions
Fannie Mae has already eliminated underwriting for loans with the lowest credit scores and highest loan-to-values, according to a company executive speaking at a secondary conference. A Freddie Mac executive noted it has eliminated no-income, no-asset loans. A mortgage insurance executive noted a resurgence in that product.

Will sellers drop prices in response to a big supply of houses for sale, or will buyers finally have to pony up?

High rollers bet on bond yeilds
Twenty bucks says that, in Bankrate’s final mortgage rate survey of the year, the average 30-year rate will be 6.32 percent or higher.

Home sales register declines
House resales fell 6.6 percent in the first three months of this year compared with the first quarter of 2006. Prices of resold homes fell 1.8 percent.

Incentives abound on most new cars
Salespeople always say it’s a good time to buy a car, but now it’s really true, says Bankrate car expert Terry Jackson.

Lease-purchase payments usually higher
Lease-purchase or rent-to-own offers are usually on the up-and-up, but keep in mind you’ll be making higher monthly payments, says Real Estate Adviser Steve McLinden.

‘Summer gas’ mix may boost mileage
The EPA’s cold-weather formula requires most cars to burn more gas, so your miles per gallon is likely to increase soon, says Terry Jackson.

100 percent financing a bad idea
Even a small down payment will save you on interest, says Dr. Don.

7 ways to slash commuting costs
With the costs of fuel and insurance soaring, it’s time to take a second look.

Investing in out-of-state 529 plan
Although Virginia does not provide for a financial aid benefit, you are allowed to claim a state income tax deduction for an in-state, but not an out-of-state, plan, says College Money Guru Joseph Hurley.