It’s funny how things turn out some days. Monday afternoon, I was sitting at the closing table with a young professional couple who’d qualified for a 4.5% fixed-rate on a new 30-year mortgage. As most of you know, I like to keep everyone up-to-date on the where, when & how of my day, via Twitter, […]
Mortgage Quailifications Letting Up?
November 25, 2008 by
I wanted to share with you an email I just received from Cody McCollom of Grandmark Mortgage in Edmond. As most people know by now, one of the biggest hurdles facing the housing market right now if the inability of many to qualify for a mortgage, due to the ‘freeze’ in the credit market. It […]
Fed Rate Drops 1/2 Percent
October 29, 2008 by
I’m not overly-optimistic that the reduction will be passed along to us in the form of lower mortgage rates, but the fed decided today to lower the federal funds rate by a half of a point. If you need more information or advice on mortgage rates, let us know and we’ll get you in touch […]
If I Can Qualify, Then I Can Afford It!
September 30, 2008 by
A good friend, and ally in the business, Trey Bowden, recently posted about a topic that is near and dear to my heart. I thought I’d share it here with you, whoever may be reading, whether you’re a homeowner, or a homeowner-to-be, this is invaluable information. You see, I’ve lost count of the number of times […]
$700b Bailout Falls to Defeat
September 29, 2008 by
I can’t remember an issue in recent times that I’ve been more torn over. I’m all for smaller government and the free market economy, so how could I support a government bailout of the failing financial market? At the same time, my own business hinges on the success of our financial market. To say the […]
Ever Wonder How Mortgage Interest Rates are Set?
July 15, 2008 by
Kenneth Wohl of SpiritBank recently put together this explanation, and I thought it’d be useful to you, my clients, so with his permission, here it is. Hopefully it’ll help us all understand things a little better. Spotlight– How Interest Rates are Set One of the most commonly misunderstood facets of Mortgage lending is how rates are arrived […]
Mortgage Update from Cody McCollom
April 9, 2008 by
As rapidly as things are moving and changing in the mortgage industry, I’m relying heavily on my trusted mortgage advisors these days; moreso than in months past, simply because keeping up with the changes truly is a full-time job and, obviously, my full-time job is selling homes, not mortgages. I recently got an update from Cody […]
Going, Going, Gone
March 28, 2008 by
“Going, Going, Gone” is the tune to new regulations set forth by the mortgage industry. As of the end of March 2008, mortgage insurance companies have changed their standards for insuring conventional loans. They will no longer insure loans over 97% Loan To Value and many are making changes to their acceptable Debt Ratio requirements. For the […]
