Everything is still crazy. Things seem to be settling down to a little better than where we were right before the S&P down grade. All the markets are struggling to find their new normal. … [Read more...]
Columbus Mortgage Rate Update
August 12, 2011 By Leave a Comment
Just one crazy day after another. An important economic announcement is coming out this morning. Who knows what is going to happen. This is NOT for the faint of heart. MORTGAGE TIP OF THE … [Read more...]
Columbus Mortgage Market Update
August 11, 2011 By Leave a Comment
Another weird day. Stock market is up, crude oil is down a hair, conventional is up and FHA is down. We are just sitting here scratching our heads. No clue what is happening. MORTGAGE TIP OF … [Read more...]
Columbus Mortgage Rate Update
August 10, 2011 By Leave a Comment
This is absolutely unbelievable. The stock market again is taking a huge dive. Money is flowing into mortgage backed securities making rates dive down. We are within .125% of the 60 year low we hit … [Read more...]
Columbus Mortgage Market Update
August 9, 2011 By Leave a Comment
The mortgage market is holding steady with yesterday’s rates. Just when you think you’ve seen everything the financial and mortgage world there is, they throw at us a curve ball. Nothing is … [Read more...]
Columbus Mortgage Rate Update
August 8, 2011 By Leave a Comment
This is too crazy. We had no idea this morning what was going to happen. It turns out, folks are selling their stocks due to the S&P downgrading. Folks sold their stocks but bought mortgage backed … [Read more...]
Columbus Mortgage Market Update
August 5, 2011 By Leave a Comment
Finally got some good news out this morning, unemployment went down from 9.2 to 9.1% which is positive economic. The markets started out against us this morning because of this news but quickly moved … [Read more...]
Columbus Mortgage Rate Update
August 4, 2011 By Leave a Comment
This is just too weird. Another drop in rates. The 60 year low was the day before the election in 2010 at 3.875% for one day, 30 year fixed. I’m also not getting gas prices relating to crude oil. … [Read more...]
Columbus Mortgage Rate Update
August 2, 2011 By Leave a Comment
There are many confusing things going on in the US economic world that isn’t making sense. The vote on the debt ceiling resolution should have made rates go up but they aren’t. Maybe the … [Read more...]
Columbus Mortgage Market Update
August 1, 2011 By Leave a Comment
Looks like the market is reacting in our favor to the debt ceiling resolution of last night. MORTGAGE TIP OF THE DAY: There are very few states in the country left with dower rights. The … [Read more...]
Columbus Mortgage Rate Update
July 29, 2011 By Leave a Comment
Rates dropped this morning. Quarterly figures came out and it shows the economy and growth is at a standstill. That bad news made rates come down. The stalemate in the congress over the debt … [Read more...]
Columbus Mortgage Rate Update
July 27, 2011 By Leave a Comment
Crude Oil is down this morning. Everything is in turmoil this morning due to the debt ceiling issue. Rates haven’t moved either direction enough to make rates change by .125% yet. In general, … [Read more...]
Columbus Mortgage Market Update
July 26, 2011 By Leave a Comment
The market is in our favor this morning but not enough to make rates go down. We recovered today from the loss of yesterday. The market is reacting strangely to the lack of the Federal Government to … [Read more...]
Columbus Mortgage Rate Update
July 25, 2011 By Leave a Comment
The market is against us this morning but not enough to make rates go up. MORTGAGE TIP OF THE DAY: FHA and VA loans do NOT require a 1% origination fee. Many lenders charge that automatically … [Read more...]
Columbus Mortgage Market Update
July 22, 2011 By Leave a Comment
Oil heads back up to near $100 today. Have a great weekend. MORTGAGE TIP OF THE DAY: We are allowed to use internet bank statements proving the borrowers down payment unless they do not show … [Read more...]
Columbus Mortgage Rate Update
July 21, 2011 By Leave a Comment
European debt plan boosts Wall Street bring rates back to Wednesday’s levels. MORTGAGE TIP OF THE DAY: We ask for two months bank statements from the borrower proving the down payment. Any … [Read more...]
Columbus Mortgage Market Update
July 20, 2011 By Leave a Comment
Although the housing starts were a pleasant surprise yesterday, today’s news that June home sales declined contributed to slightly lower mortgage rates today. MORTGAGE TIP OF THE DAY: We are … [Read more...]
Columbus Mortgage Rate Update
July 19, 2011 By Leave a Comment
US housing starts climb in May contributing to slightly higher rates today. MORTGAGE TIP OF THE DAY: A gift to a borrower cannot be a loan. THOUGHT OF THE DAY: (This is the serious … [Read more...]
Columbus Mortgage Market Update
July 18, 2011 By Leave a Comment
Stocks open sharply lower today. As bad news typically keeps mortgage rates low we will see how the day goes. MORTGAGE TIP OF THE DAY: A gift must be from a relative or someone who can prove … [Read more...]
Columbus Mortgage Rate Update
July 15, 2011 By Leave a Comment
Rates inched up yesterday afternoon but remain flat this morning. Have a great weekend. MORTGAGE TIP OF THE DAY: The gift check is always made payable to the borrower rather than to the … [Read more...]
Columbus Mortgage Market Update
July 14, 2011 By Leave a Comment
Tempers flair in congress as the debate continues on the debt ceiling. Economic uncertainty continues to keep rates lower. MORTGAGE TIP OF THE DAY: In using a gift for the down payment, we … [Read more...]
Columbus Mortgage Rate Update
July 13, 2011 By Leave a Comment
Stock market jumps as Bernanke mentions new stimulus. MORTGAGE TIP OF THE DAY: In using a gift for the down payment, we must get a copy of the check or proof the funds were transferred to … [Read more...]
Columbus Mortgage Market Update
July 11, 2011 By Leave a Comment
Wall Street skids this morning on global fears driving interest rates lower. MORTGAGE TIP OF THE DAY: A gift can be used for the down payment of a house. On FHA the entire amount can be a … [Read more...]
Columbus Mortgage Rate Update
July 8, 2011 By Leave a Comment
Unemployment came out for June and it was worse than expected. That made rates decrease. MORTGAGE TIP OF THE DAY: Central Ohio including the counties attached to Franklin do business different … [Read more...]
Columbus Mortgage Market Update
July 6, 2011 By Leave a Comment
The market is moving back in our direction this morning. Can’t give you a good reason why. In general, the economy is not doing well thus forcing mortgage rates back down. MORTGAGE TIP OF … [Read more...]
Columbus Mortgage Rate Update
July 5, 2011 By Leave a Comment
Movement is in our favor this morning but not enough to make rates go down to the next .125%. Crude Oil is up this morning. I heard on the news this weekend one of the reasons gasoline prices went … [Read more...]
Columbus Mortgage Market Update
June 30, 2011 By Leave a Comment
Some favorable economic news came out this morning making rates go the wrong way. MORTGAGE TIP OF THE DAY: The FHA maximum loan limit for Franklin County and surrounding counties will be reduced … [Read more...]
Columbus Mortgage Rate Update
June 29, 2011 By Leave a Comment
Rates are up again this morning. It’s not clear to me what is causing it but my gut feeling is the Greece situation is at the basis. We will see as the day and week rolls along. MORTGAGE … [Read more...]
Columbus Mortgage Market Update
June 28, 2011 By Leave a Comment
The market started turning the wrong way dramatically yesterday afternoon. Things are stable this morning. I didn’t hear a good reason what triggered yesterday’s major hiccup. MORTGAGE … [Read more...]
Columbus Mortgage Rates Update
June 27, 2011 By Leave a Comment
Greece’s financial situation will be determined this week and will have a dramatic affect on the world wide financial markets. This includes the mortgage backed securities the US offers. It will … [Read more...]
Columbus Mortgage Market Update
June 24, 2011 By Leave a Comment
MORTGAGE TIP OF THE DAY: Remember, there is a Federal Law that says we cannot close a loan faster than 8 days. If you are stuck in a rough deal somewhere, let us know. We can get it … [Read more...]
Columbus Mortgage Market Update
June 22, 2011 By Leave a Comment
This Greece situation is still affecting US Markets. Rates stabilized this morning. MORTGAGE TIP OF THE DAY: We discovered yesterday that 19% of the properties listed for sale in Central Ohio are … [Read more...]
Columbus Mortgage Rate Update
June 21, 2011 By Leave a Comment
It appears the financial situation in Greece is causing the stock market to go up pulling money from mortgage backed securities therefore pushing mortgage rates higher. MORTGAGE TIP OF THE … [Read more...]
Columbus Mortgage Market Update
June 20, 2011 By Leave a Comment
Rates are the same this morning as last Friday. Crude Oil is down slightly this morning, which is good news at least at my house. MORTGAGE TIP OF THE DAY: A somewhat new rule came out last … [Read more...]
Columbus Mortgage Rate Update
June 17, 2011 By Leave a Comment
Rates are holding again this morning/afternoon. Crude Oil is down another $2.00+ a barrel today, great news. MORTGAGE TIP OF THE DAY: We are able to do a “cash out” refinance up to 70% … [Read more...]
Columbus Mortgage Market Update
June 16, 2011 By Leave a Comment
More poor news came out yesterday forcing mortgage rates down. Crude Oil took a huge dive yesterday also, $5.00 a barrel lower. That is great news (to me, at least). MORTGAGE TIP OF THE … [Read more...]
Columbus Mortgage Rate Update
June 15, 2011 By Leave a Comment
Rates bounced up yesterday due to some positive economic news but drifting back down this morning. Crude Oil is still hovering around the high $90’s. MORTGAGE TIP OF THE DAY: When getting … [Read more...]
Columbus Mortgage Market Update
June 14, 2011 By Leave a Comment
Two economic announcements came out this morning and they were better than expected which is putting pressure on rates upward. Crude Oil is still hovering around the upper $90 a barrel range. … [Read more...]
Columbus Mortgage Rates Update
June 13, 2011 By Leave a Comment
Rates are the same as last week. There is downward pressure. The stock market is doing poor, a fair amount of bad economic news has been coming out which pushes rates down. It appears the refinery … [Read more...]
Columbus Mortgage Market Update
June 9, 2011 By Leave a Comment
The market pressures are pushing upward. Crude Oil is also up this morning to over $102.00 a barrel. MORTGAGE TIP OF THE DAY: Second homes need at least 10% down minimum. THOUGHT OF THE … [Read more...]
Columbus Mortgage Rate Update
June 8, 2011 By Leave a Comment
Rates are drifting in our direction this morning. Crude Oil, however, is up passed $100 a barrel….not good!!! MORTGAGE TIP OF THE DAY: Jumbo loans, loans over $417,000 are loans whose funds … [Read more...]
Columbus Mortgage Market Update
June 6, 2011 By Leave a Comment
No economic indicators came out this morning. There is pressure for rates to go up today, for whatever reason. Crude Oil is down again this morning $1.50 a barrel. MORTGAGE TIP OF THE DAY: FHA … [Read more...]
Columbus Mortgage Rate Update
June 3, 2011 By Leave a Comment
The market is still in our direction. Crude Oil this morning is just below $100.00 a barrel. As the economy gets worse, mortgage rates go down. MORTGAGE TIP OF THE DAY: Down payment for a … [Read more...]
Columbus Mortgage Market Update
June 2, 2011 By Leave a Comment
All the markets came down yesterday including mortgage loan rates. As you know, as the economy gets bad rates will go down, as the economy gets better rates will go up. We have had our share of bad … [Read more...]
Columbus Mortgage Rate Update
June 1, 2011 By Leave a Comment
The markets are drifting our direction this morning. Crude Oil is also down $.66 a barrel this morning but still over $100 a barrel. MORTGAGE TIP OF THE DAY: When closing the first 5 days of any … [Read more...]
Columbus Mortgage Market Update
May 31, 2011 By Leave a Comment
The market is flat this morning but many economic indicates are not looking good. Crude Oil jumped to just under $103.00 a barrel this morning. MORTGAGE TIP OF THE DAY: Loans closing on the first … [Read more...]
Columbus Mortgage Rate Update
May 27, 2011 By Leave a Comment
The market is steady this morning but many economic indicators are due out today. Could be a volatile day with rates. MORTGAGE TIP OF THE DAY: Having a prepayment penalty on a mortgage loan … [Read more...]
Columbus Mortgage Market Update
May 25, 2011 By Leave a Comment
The market recovered yesterday afternoon to the point of the previous day. The word I keep hearing on the radio is that a major oil refinery in the Midwest is down and that should shoot up the price … [Read more...]
Columbus Mortgage Rates Update
May 24, 2011 By Leave a Comment
The market is against us this morning and Crude Oil again is approaching $100 a barrel. Happy Tuesday!!! MORTGAGE TIP OF THE DAY: FHA has MIP insurance that covers the LENDER against loss … [Read more...]
Columbus Mortgage Market Update
May 23, 2011 By Leave a Comment
The market is moving in our direction. Yeah!!! MORTGAGE TIP OF THE DAY: The day of a No Income Verification Loan with 100% financing are gone. The closest we have available with FHA is 3.5% down … [Read more...]
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