Mortgage Market & Rates

Columbus Mortgage Rates: 8-)….been a while for that smile!!!!

March 9, 2010 by Steve Wagner · Leave a Comment 

Friends:
Rates drifted down this morning. According to the experts, money is flowing from the stock market to a safer place in Government Securities.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
In using gift funds for a down payment, we must do 4 steps to make it work: 1, get a gift letter [...]

Columbus Mortgage Market: 8-0….Yawn!!! I know this is boring but it beats going up!!!

March 8, 2010 by Steve Wagner · Leave a Comment 

Friends:
The market is going slightly against us this morning but again, not enough to make the rates go up.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
If a buyer cannot sell their old house and decide to rent it out to cover their old house payment, we cannot use the income from the new rental to offset [...]

Columbus Mortgage Rates: 8-0…yawn!!!!

March 5, 2010 by Steve Wagner · Leave a Comment 

Friends:
All the markets are way against us this morning but it didn’t affect rates. I don’t get this one. We are scratching our heads.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
Has anyone noticed other than me that in Franklin County there are 5 months in the first half of the taxable year with 7 [...]

Columbus Mortgage Market: 8-0…Yawn!!!

March 4, 2010 by Steve Wagner · Leave a Comment 

Friends:
Again this morning the market is slightly against us but not enough to make rates go up yet.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
The first time homebuyer bond money deal is right now is at a higher rate than the FHA program however bond program requires 3.5% down but the buyer can [...]

Columbus Mortgage Rates: 8-0….yawn!!!!

March 3, 2010 by Steve Wagner · Leave a Comment 

Friends:
The market improved yesterday afternoon but went against us this morning so we are exactly the same place as yesterday at this time.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
Federal home buyers incentive ends soon. They must be in contract by April 30, 2010 and closed by June 30, 2010. This is $8,000 [...]

Columbus Mortgage Rates: 8-0….yawn!!!!

March 1, 2010 by Steve Wagner · Leave a Comment 

Friends:
The market is slightly against us this morning but not enough to make rates go up.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
Federal Law says a lender is not allowed to close a loan faster than 8 days. 7 days must pass, on the 8th day we can close.
THOUGHT OF THE DAY:
Without a rich [...]

Columbus Mortgage Market: 8-0….yawn!!!!

February 26, 2010 by Steve Wagner · Leave a Comment 

Friends:
The market is slightly in our favor this morning but not enough to make rates drift down.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
PMI had a ruling where they would not let the borrower go past 41% debt ratio. They have just expanded that to 45%.
THOUGHT OF THE DAY:
You never lose by loving. [...]

Columbus Mortgage Rates: :-0….yawn!!!!

February 25, 2010 by Steve Wagner · Leave a Comment 

Friends:
The market is slightly in our favor this morning keeping mortgage rates the same as it was yesterday, down.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
In the 19th Century in Ohio when Ohio was a farming state, the farmers had a very rough year so the state government offered to suspend real estate tax payments [...]

Columbus Mortgage Market: :-0….yawn!!!!

February 24, 2010 by Steve Wagner · Leave a Comment 

Friends:
The market is slightly in our favor this morning keeping mortgage rates the same as it was yesterday, down.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
On a 15 year FHA loan there is upfront MIP insurance but there is none in the payment if they have at least 10% down. This is the only [...]

Columbus Mortgage Rates: 8-)…..Yippee!!! (finally some bad news)

February 23, 2010 by Steve Wagner · Leave a Comment 

Friends:
Consumer confidence slipped today due to global market reports which made funds flow to the safe mortgage backed securities. That made mortgage rates go down today.
Thanks!!! Steve
MORTGAGE TIP OF THE DAY:
PMI on a conventional loan can fall off by the customer doing nothing once the principal is paid down to 78% of [...]

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