Market Updates

Columbus Mortgage Market

September 1, 2010 by Steve Wagner · Leave a Comment 

Go out there and sell something today. MORTGAGE TIP OF THE DAY: As you have probably guessed we are swamped with refinances but we REALLY WANT your purchase business. Purchase loans go to the front of the line. THOUGHT OF THE DAY: Don’t be afraid to ask what might seem to be a dumb question. [...]

Columbus Mortgage Rates: Yippy Skippy!

August 31, 2010 by Steve Wagner · Leave a Comment 

Market is in our favor yesterday afternoon and this morning. Go out there and sell something today. MORTGAGE TIP OF THE DAY: On a FHA loan, we are required to verify with the landlord that rent has been paid on time. Conventional does not require this. THOUGHT OF THE DAY: “We’re all in this together–by [...]

Columbus Mortgage Market: Hmmmm!!

August 30, 2010 by Steve Wagner · Leave a Comment 

Friday afternoon rates jumped up three times. All the markets are back down this morning but not enough to put us back to where we were Friday morning. Go out there and sell something today. MORTGAGE TIP OF THE DAY: On all FHA loans delinquencies on federal debts such as student loans or tax liens [...]

Columbus Mortgage Rates:What a week!

August 27, 2010 by Steve Wagner · Leave a Comment 

Go out there and sell something today. MORTGAGE TIP OF THE DAY: The Arlington Bank charges the same rate for purchases as we do for refinances. No up charges here. THOUGHT OF THE DAY: Nothing great was ever achieved without enthusiasm. Ralph Waldo Emerson TODAY’S FUN FACT: A hurricane, typhoon and cyclone are all the [...]

Columbus Mortgage Market: Amazing!

August 26, 2010 by Steve Wagner · Leave a Comment 

Is a double dip recession coming? Sounds like it may happen. Go out there and sell something today. MORTGAGE TIP OF THE DAY: FHA requires we verify a borrower has been paying their rent on time for one year. Conventional does not require that. THOUGHT OF THE DAY: “We have met the enemy, and he [...]

Columbus Mortgage Rates: OMG, it finally happened!!

August 25, 2010 by Steve Wagner · Leave a Comment 

It finally happened. All the indicators showing rates should be going down did. Go out there and sell something today. MORTGAGE TIP OF THE DAY: Federal Law says we lenders are not allowed to close a loan faster than 8 days. If you have a loan stuck in what we call “Big Bank Underwriting Hell” [...]

Columbus Mortgage Market: This is wild!

August 24, 2010 by Steve Wagner · Leave a Comment 

It is stuck. All kinds of movement in the economy but not affecting rates. Go out there and sell something today. MORTGAGE TIP OF THE DAY: The donor of a gift for an FHA loan can borrower funds for the gift but it can’t be borrowed from any party of the transaction. THOUGHT OF THE [...]

Columbus Mortgage Rates: We have no idea what is happening and why!!

August 19, 2010 by Steve Wagner · Leave a Comment 

Absolutely nothing is making sense on the markets and why they are shifting the way they are. All the indicators said this morning rates should go down but we went slightly the other direction. We can’t make heads or tails or what is happening and why. Go out there and sell something today. MORTGAGE TIP [...]

Columbus Mortgage Market: This is making no sense!

August 18, 2010 by Steve Wagner · Leave a Comment 

This whole week, the markets are shifting around telling me rates should be going down, up then again down but the mortgage markets are now reacting whatsoever. Is this the lowest rates can go? What’s up with this? Someone out there know a lot more about this logic than me? Marcy? Go out there and [...]

Columbus Mortgage Rates: This is getting boring!

August 17, 2010 by Steve Wagner · Leave a Comment 

The market is slightly against us this morning but not enough to make rates go up. Go out there and sell something today. MORTGAGE TIP OF THE DAY: FHA only requires enough money to close as opposed to actually having the 3.5% down payment. The tax prorate credit can sometimes actually eat into the down [...]

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