Category Archives: Mortgages

Thinking FHA? You may be overpaying for your loan.

Posted on December 7, 2013 by grim

From the NYT: The Downside to F.H.A. Loans Mortgages insured by the Federal Housing Administration are the go-to product for borrowers who don’t have much cash for a down payment. But the required mortgage insurance premiums have become so costly … Continue reading →

Posted in Economics, Mortgages, National Real Estate, Property Taxes | 62 Comments

Help Borrowers? Does Not Compute.

Posted on December 5, 2013 by grim

From the NYT: Banks Fail to Comply With Parts of Mortgage Settlement, Report Says Three of the nation’s largest mortgage lenders are still failing to comply with key requirements of a national settlement over mortgage abuses, according to a new … Continue reading →

Posted in Foreclosures, Mortgages, Politics | 82 Comments

No more love for bad loans

Posted on November 14, 2013 by grim

From Bloomberg: HUD Said to Fail in Bid to Sell $450 Million of FHA Mortgages The U.S. Department of Housing and Urban Development for the first time failed to sell some of the soured mortgages it’s auctioning off in the … Continue reading →

Posted in Economics, Foreclosures, Mortgages, Risky Lending | 106 Comments

Refi bonanza continues (or) American homeowners not so dumb

Posted on November 13, 2013 by grim

From HousingWire: More refinancing homeowners choose shorter loan terms Of all the borrowers refinancing Freddie Mac-linked loans in the third quarter, 37% moved into shorter loan terms, up 5% from the previous quarter and the highest level recorded since 1992, … Continue reading →

Posted in Economics, Housing Recovery, Mortgages | 73 Comments

Mortgage rates dip, will we see 3.xx% again?

Posted on October 25, 2013 by grim

From HousingWire: Mortgage rates fall to four-month lows Fixed mortgage rates spiraled down this week amid market speculation that the Federal Reserve will continue to commit to its bond buying purchases this year. Consequently, mortgage rates declined to four-month lows … Continue reading →

Posted in Economics, Housing Recovery, Mortgages | 75 Comments

Housing affordability drags down sales

Posted on October 22, 2013 by grim

From Forbes: Existing Homes Sales Fall In September As Housing Becomes Less Affordable Well it shouldn’t necessarily come as a surprise. Sales of previously owned homes fell 1.9% in September from a month earlier, according to the National Association of … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, National Real Estate | 77 Comments

We’re all the US Government now

Posted on October 16, 2013 by grim

From MarketWatch: Mortgage rates could spike if U.S. defaults Democrats and Republicans have two days to reach a deal before the government breaches the debt ceiling. Should a default occur, mortgage applicants could face a worst-case scenario that includes rates … Continue reading →

Posted in Employment, Mortgages, National Real Estate | 99 Comments

Want a house? Go west (but not too far west)

Posted on October 14, 2013 by grim

From HousingWire: Middle-class affordability shrinks in key housing markets For the typical middle-class household, owning a home is highly achievable, just as long as they choose to live in the Midwest. In the middle of the country, the average household … Continue reading →

Posted in Demographics, Economics, Mortgages, National Real Estate | 83 Comments

This again? Conforming loan limits may drop.

Posted on October 9, 2013 by grim

From HousingWire: GSE conforming loan limits could adjust again Policymakers are contemplating a reduction in the maximum size of home loans that Fannie Mae and Freddie Mac are allowed to acquire, hoping this change will reduce the government’s dominant footprint … Continue reading →

Posted in Housing Recovery, Mortgages, National Real Estate | 80 Comments

“All else equal, higher mortgage rates do depress housing demand.”

Posted on September 13, 2013 by grim

From Forbes: When Will Rising Mortgage Rates Hurt The Housing Market? The Longer-Term Impact of Sustained Rate Increases Even if the immediate impact of mortgage rate spikes is small – aside from the huge effect on refinancing – shouldn’t sustained … Continue reading →

Posted in Economics, Housing Recovery, Mortgages | 101 Comments

Mortgage rates could hit 5% today

Posted on September 6, 2013 by grim

From Mortgage News Daily: Mortgage Rates at New 2-Yr Highs Ahead of Important Jobs Report Mortgage rates leaped to new 2-Yr highs today, after strong economic data increased the chances that tomorrow’s all-important jobs report would be similarly strong. The … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, National Real Estate | 60 Comments

Negative equity falls, still a long way to go

Posted on August 30, 2013 by grim

From CNBC: Home values rise, but millions still drown in debt More than three million U.S. borrowers have risen above water on their mortgages so far this year, thanks to swift home price appreciation, according to a new report from … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Mortgages, National Real Estate | 67 Comments

Delinquencies improve, but procedural delays plague NY/NJ

Posted on August 17, 2013 by grim

From the NYT: Delinquencies on the Decline In another sign of an improving market, mortgage delinquencies and foreclosures are down significantly since last year — although procedural impediments have tempered progress on the East Coast, especially in New York and … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Mortgages | 100 Comments

Why a private mortgage market might not be a good idea

Posted on August 13, 2013 by grim

From the NYT: In one bundle of mortgages, the subprime crisis reverberates A subprime deal came back to haunt Fabrice Tourre, a former Goldman Sachs trader, when a federal jury in Manhattan found him liable for civil securities fraud. He … Continue reading →

Posted in Foreclosures, Housing Bubble, Mortgages, Risky Lending | 247 Comments

Subprime sausage machine proposed to replace Freddie & Fannie

Posted on August 8, 2013 by grim

At what point did we all forget the “Private Mortgage Market” was the machine that brought on the subprime crisis? Folks, this is the same machine that perfected the NINJA loan (No Income, No Job, No Assets), and whose financial … Continue reading →

Posted in Mortgages, Risky Lending | 106 Comments