Mortgage underwriting rules have gone from a bad extreme of four or so years ago to an equally bad extreme today.
Bad news can be good news for the bond markets and ultimately for mortgage interest rates.
Interest rates continue to be in a narrow range, being pulled in different directions depending on the events of the ...
extreme. There were too many abuses by the mortgage industry and some customers. There were too few restrictions on loan ...
A couple of years ago, if a homeowner was offered a jumbo-sized mortgage for a home in Washington for 4.375% they would beg for the loan to be locked. In fact, the customer would probably think the mortgage loan officer was misquoting his or her rate sheet. But that was 2009. Today clients sometimes let greed take over. A lot of borrowers are taking their time in making the decision to move forward in anticipation of even lower rates.
The fourth quarter of 2010 is proving to be a most interesting time in mortgages. Rates are fluctuating at near record lows. House prices are trying to stabilize. Underwriting is as stringent as ever.
In a July 22 release by Freddie Mac’s Primary Mortgage Survey, the 30-year and 15-year fixed-rate mortgages reached record lows.
Mortgage rates were forecasted to head to 6 percent, and like many weather forecasts, these predictions were simply wrong.
With mortgage interest rates low these days and the rental market in the Georgetown area stubbornly high, many are taking the time to examine if the time is right to rent or purchase a property.
The roller coaster ride in the financial markets continues. At best, it is a nerve-racking time for anyone who is watching their investments.
Despite the doomsaying, rates are looking attractive for a primary house mortgage with at least 20 percent down and very good credit.
There was a shot across the bow in the financial markets on Feb. 18, when the Federal Reserve raised the ...