The Mortgage Reports

For Conforming Mortgage Rates, The 10-Year Treasury Is A False Proxy

Dan Green — Mon, 06 Sep 2010 21:35:07 PDT

Over the long-term, the 10-year treasury tracks the mortgage market. But you're not shopping for rates long-term -- you're shopping "right now". It's why the 10-year treasury is mostly irrelevant to rate shoppers.

August Jobs Report Causes Mortgage Rates To Rise For The 3rd Straight Day

Dan Green — Fri, 03 Sep 2010 06:20:36 PDT

Wall Street liked the jobs report today and is bidding up stocks at the expense of bonds. Mortgage rates are rising. Rates are higher by 1/8 percent this morning.

A Mortgage Rate Prediction For The Next 7 Days (September 2, 2010)

Dan Green — Thu, 02 Sep 2010 06:27:42 PDT

After 19 weeks of improvement, mortgage rates are stupid low right now. Don't miss a chance to do something about it. Especially because rates look troughed.

Case-Shiller Index Shows 5% Growth In June But The Data Is “Imperfect”

Dan Green — Wed, 01 Sep 2010 06:53:33 PDT

According to the Standard & Poors Case-Shiller Index, home values rose 5 percent in June versus the month prior, and 4 percent from a year earlier. But while the Case-Shiller Index is accurate, it's imperfect. Let's look deeper.

The Falling, Long-Term Cost Of A 30-Year Fixed Rate Mortgage

Dan Green — Sun, 29 Aug 2010 21:05:13 PDT

As compared to the day *after* the expiration of the $8,000 home buyer tax credit, today's cost of carrying a 30-year fixed rate mortgage to term is lower by $45,500. Mortgage rates are on a 4-month rally.

Home Affordability Rankings For All 225 Metro Areas, Including Ohio (Q2 2010)

Dan Green — Fri, 27 Aug 2010 06:07:07 PDT

With home prices in gentle recovery and mortgage rates continuing to fall, home affordability is cresting. See where all 225 metro areas rank.

A Mortgage Rate Prediction For The Next 7 Days (August 26, 2010)

Dan Green — Thu, 26 Aug 2010 03:16:17 PDT

Mortgage rates keep dropping, but they're dropping ever so slowly. Homeowners with loans in-process can stop worrying about having locked "too soon" -- rates are essentially the same today as they've been for 2 months. And for everyone else, it means there's still more time to join the Refi Boom.

July 2010 Existing Home Sales : As Starter Homes Flail, Luxury Home Flourish

Dan Green — Wed, 25 Aug 2010 06:58:42 PDT

The real estate market is a tale of two price tiers. Sure, the Existing Home Sales data was awful, but not if you live in a "luxury" home.

How To Refinance Your Mortgage While Keeping Your “Payback Period” On Track

Dan Green — Mon, 23 Aug 2010 05:22:03 PDT

You're thinking of a refinance to lower rates. That doesn't mean you have to reset your loan by 30 years, though. With a basic math formula, you can apply your monthly savings and pay off your loan even faster than if you had done nothing.

How To Get A Zero-Cost Mortgage In The Middle Of A Refi Boom

Dan Green — Fri, 20 Aug 2010 07:42:25 PDT

The good thing about closing costs is that they're negotiable, in some respects. You can't avoid paying underwriting fees or taxes to the government, for example, but you *can* arrange to have loan costs paid on your behalf. It's called a "zero-cost mortgage". But, there is a trade-off.

A Mortgage Rate Prediction For The Next 7 Days (August 19, 2010)

Dan Green — Thu, 19 Aug 2010 07:48:23 PDT

Mortgage rates are really, really low. And they'll probably fall further. But don't get greedy. Take your bird-in-hand. Get started on that refi.

Locking Low Mortgage Rates For The Refi Boom? Learn From Lucille Ball.

Dan Green — Wed, 18 Aug 2010 04:21:56 PDT

When mortgage rates are this low, the hard part of a refinance isn't locking the low rate. Low rates are easy to lock. The hard part is closing on the low rate before its rate lock expires. In this case of Life Imitating Art, learn from Lucille Ball about getting ahead of underwriting and closing on-time, without rate lock extension fees.

Using Photomosaics To Show That All Real Estate Is Local

Dan Green — Tue, 17 Aug 2010 17:02:35 PDT

There's an old saying that goes "All Real Estate Is Local". See it in pictures.

FHA Mortgage Insurance Premiums To Rise In October : Should You Act Now, Or Should You Wait?

Dan Green — Mon, 16 Aug 2010 06:05:50 PDT

For the second time in 4 months, the FHA is changing the way it charges mortgage insurance. The change is forcing homeowners and home buyers using FHA financing to make a monetary decision -- use the current system for FHA mortgage insurance, or to wait for the new one to take effect? The answer roots [...]

A Mortgage Rate Prediction For The Next 7 Days (August 12, 2010)

Dan Green — Wed, 11 Aug 2010 21:01:02 PDT

The Fed set mortgage rates downward this week, but now is not the time to wait-and-see where rates go next. A turnaround could happen just like .

The Fed’s Official Statement And What It Means To The Mortgage Market (August 10 2010)

Dan Green — Tue, 10 Aug 2010 12:18:03 PDT

The Fed re-affirmed its plan to hold the Fed Funds Rate near zero percent “for an extended period” today. Mortgage rates remain low and the Refi Boom continues.

How Changes To The Fed Funds Rate Change Mortgage Rates

Dan Green — Tue, 10 Aug 2010 03:38:44 PDT

Omitting adjectives can lead to misunderstandings and it happens nearly every time the Federal Open Market Committee meets. Today should be no different. If you're floating a mortgage rate, you'll want to know how to interpret the headlines the *right * way.

Explaining How Mortgage Escrows Work For Real Estate Taxes And Homeowners Insurance

Dan Green — Mon, 09 Aug 2010 07:39:44 PDT

When you own a home, your fiscal responsibility to the lender goes deeper than just your monthly principal + interest payments. You've got taxes and insurance to manage, too. And, homeowners that let lenders collect and pay their taxes and insurance bills tend to get lower rates and/or lower fees.

Your Credit Report Will Be Re-Pulled Just Prior To Closing (And It Could Change Your Loan Terms)

Dan Green — Mon, 02 Aug 2010 05:51:49 PDT

Suddenly, the phrase "cleared to close" doesn't mean so much. Because of a new Fannie Mae policy, a mortgage lender's commitment to fund isn't final until it's final. Lenders have reason to revoke a person's mortgage approval all the way up until the point of funding. Scary, scary stuff.

Make Back The Cost Of Your Refinance More Than 16 Times Over

Dan Green — Fri, 30 Jul 2010 06:29:21 PDT

It's a Refi Boom. The biggest one we've seen in a while. Homeowners are *finally* pulling the trigger on new mortgages, lowering their monthly payments by staggering dollar figures.