The Truth About Mortgage.com

The Fed Minutes and Mortgage Rates

Colin Robertson — Wed, 22 May 2013 21:36:44 +0000

Just a few short hours ago, the Federal Reserve released the hotly anticipated FOMC “minutes” from its two-day meeting that took place back on April 30th and May 1st. The contents weren’t all that exciting, though they seemed to be enough to result in a 200+ point stock market swing. The markets opened considerably higher

Assumable Mortgages: Set to Get Popular Once Rates Rise

Colin Robertson — Tue, 21 May 2013 21:45:30 +0000

Everyone knows mortgage rates are super cheap right now. And just about everyone believes they won’t last very long at this level. In fact, tomorrow Ben Bernanke will testify before the Joint Economic Committee regarding the direction of the economy, and he could signal whether QE is likely to continue or taper off. That may

Slowing Mortgage Market Could Lead to Looser Lending

Colin Robertson — Mon, 20 May 2013 21:42:56 +0000

The forecast for the 2013 residential mortgage market wasn’t all that optimistic. Back in December, the Mortgage Bankers Association said it expected refinance volume to slip to $785 billion from $1.2 trillion in 2012, while purchase money mortgage activity was slated to increase only slightly from $503 billion to $585 billion. After all, there are

Is the Real Estate Market About to Be Tested?

Colin Robertson — Thu, 16 May 2013 22:30:18 +0000

For months I’ve been talking about how it has become a seller’s market, what with the super low inventory and unbeatable mortgage rates. Factor in the sizable reduction in short sales and foreclosed properties, along with strong investor demand, and you’ve got a recipe for mega home price gains. This unique environment has indeed vaulted

How Long Do You Plan to Keep Your Mortgage?

Colin Robertson — Wed, 15 May 2013 22:09:37 +0000

The mortgage landscape has changed a ton over the past several years. Mortgage lending guidelines have firmed tremendously since the crisis took hold, and mortgage rates have fallen to all-time lows. Meanwhile, home prices seem to have bottomed, and decent appreciation is in the forecast. This has created an interesting environment for both prospective and

Mortgages Originated Before 2009 Account for 86% of Delinquencies

Colin Robertson — Wed, 15 May 2013 18:39:58 +0000

What a difference a few years make. Back in 2007 and 2008, lenders were still willing to hand out high-risk mortgages, such as those with limited documentation or no money down (or both). And they did so at a time when home prices were peaking in many parts of the country, which clearly made for

Zillow: People Don’t Know Much About Mortgages

Colin Robertson — Thu, 09 May 2013 19:33:11 +0000

A new survey from Zillow revealed that prospective home buyers may be “ill-prepared to take out a mortgage,” with basic mortgage questions answered incorrectly nearly one-third of the time. For example, 34% of prospective buyers indicated that they weren’t aware you could get a mortgage with a down payment of less than five percent. Zillow

Will High Quality Mortgages Prevent Another Housing Bubble?

Colin Robertson — Wed, 08 May 2013 17:34:57 +0000

After the previous mortgage boom and subsequent crash, many questions were asked regarding what exactly went wrong. There was plenty of finger pointing, from overreliance on credit scores, to endless investor speculation, to Wall St. packaging substandard mortgages and the government’s accommodative policies. But one source of blame that kept resurfacing was the prevalence of

Warren Buffett: Now Is the Time to Get a Mortgage

Colin Robertson — Mon, 06 May 2013 20:30:24 +0000

There are plenty of so-called experts and gurus out there with all types of advice on what you should do with your money, but perhaps the most celebrated is Warren Buffett, known affectionately as the “Oracle of Omaha.” On Saturday, the 82-year old financial wizard held his annual shareholder meeting for Berkshire Hathaway in Nebraska’s

The HELOC Resets Are Coming: Should We Worry?

Colin Robertson — Thu, 02 May 2013 20:24:58 +0000

Several years ago, when the mortgage crisis first materialized, an interest rate reset chart from Credit Suisse began circulating on the Internet. The picture said more than a thousand words – it essentially foretold disaster for the housing market, and it largely delivered. Fast forward to 2013, and you’d think we’d be out of the