Columbus Mortgage Rates: Yawn!!

June 14, 2010 by admin · Leave a Comment 

The market is going 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 loans are fully assumable with or without release of liability. That makes, if it is assumed with release of liability, the original borrower is NOT [...]

Columbus Mortgage Market: …Dang!

June 3, 2010 by Steve Wagner · Leave a Comment 

Several of the markets are turning back around making mortgage rates go back up. The dollar is still getting stronger, though. Crude Oil has been going up lately and as you probably noticed, gasoline took a jump up yesterday. Go out there and sell something today. MORTGAGE TIP OF THE DAY: MIP and PMI are [...]

Columbus Mortgage Rates: Last time we were lower was 1953

May 19, 2010 by Steve Wagner · Leave a Comment 

The nervousness continues in Europe. Money is again flowing from Euros to the safe mortgage backed securities of the US forcing our rates down. Crude Oil is down to an unbelievably low price of $68.00 a barrel right now from at high of $86.00 just two weeks ago. I love this. MORTGAGE TIP OF THE [...]

Columbus Mortgage Market: Well that didn’t last long!!

May 18, 2010 by Steve Wagner · Leave a Comment 

The European markets started to rebound yesterday afternoon concerning the Greece situation along with the dumping of the Euros. This made all of our markets go the wrong way this morning. The dollar is down, Crude Oil is up a bit, etc. Although, Crude Oil is still very low over the past two weeks, down [...]

Columbus Mortgage Rates: ..amazing!

May 17, 2010 by Steve Wagner · Leave a Comment 

Who would have guessed this mess in Europe with those 5 countries spending their brains out would be helping us like this? Money is flowing from European markets into the mortgage backed securities forcing our rates down. MORTGAGE TIP OF THE DAY: PMI will not issue insurance with less than 20% down on a condo [...]

Columbus Mortgage Rates: Little 8-(…..ugh!!!

April 23, 2010 by Steve Wagner · Leave a Comment 

Friends: Not in our favor this morning. Thanks!!! Steve MORTGAGE TIP OF THE DAY: PMI can be requested to drop on a conventional loan by the servicer after two years. FHA requires a 5 year wait before it can be requested to drop. THOUGHT OF THE DAY: If every man would sweep his own doorstep, [...]

Columbus Mortgage Market: 8-) and 8-(…….Weird!!!

March 29, 2010 by Steve Wagner · Leave a Comment 

Friends: The markets look pretty stable this morning. We had an unusual situation where some rates went up, some rates when down. Weird situation. Thanks!!! Steve MORTGAGE TIP OF THE DAY: Fannie Mae and Freddie Mac are now requiring we verify that a customer has interior insurance when purchasing a condo. The association provides for [...]

Columbus Mortgage Market: 8-O…yawn!!!

March 26, 2010 by Steve Wagner · Leave a Comment 

Friends: Well, the markets have seemed to settle down this morning after the Portugal burp. Calm today. Thanks!!! Steve MORTGAGE TIP OF THE DAY: Even though a Condo complex may be FHA approved, that does not necessarily mean you may be a FHA loan on an unit there. There is a threshold of no more [...]

Columbus Mortgage Rates: 8-(…yuck!!!!

March 25, 2010 by Steve Wagner · Leave a Comment 

Friends: I just read a very disturbing world economic analyses yesterday concerning a term called “PIIGS”. This refers to the countries of Portugal, Ireland, Italy, Greece and Spain. They have dramatically overspent now suffering from their overleveraging of their economies. Their credit rating has decreased making their securities harder to sell. The scary part is [...]

Columbus Mortgage Market: 8-(….Well that didn’t last long!!!!

March 24, 2010 by Steve Wagner · Leave a Comment 

Friends: Well, that didn’t last long. Nothing I can read shows why rates jumped back up this morning after our one day drop. Thanks!!! Steve MORTGAGE TIP OF THE DAY: Another issue on FHA vs. Conventional loans is the general concern of the property vs. the credit strength of the borrower. FHA is more concerned [...]

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