Columbus Mortgage Rate Update

January 30, 2012 by Steve Wagner · Leave a Comment 

Rates are again on the downward slide, almost to the point of another quarter percent rate drop. It’s the only familiar problem, Greece and the Europe Union in trouble. That is the biggest situation now affecting mortgage rates and other markets worldwide. MORTGAGE TIP OF THE DAY: I haven’t done this for a while, let’s [...]

Columbus Mortgage Market Update

September 30, 2011 by Steve Wagner · Leave a Comment 

More bad news about our economy came out this morning that helped mortgage rates. Crude Oil is also down this morning. MORTGAGE TIP OF THE DAY: When pulling funds for a down payment on a house, we need to prove that the borrower really did pull the funds from that account and not just show [...]

Columbus Mortgage Market Update

September 22, 2011 by Steve Wagner · Leave a Comment 

The Federal Reserve yesterday decided to buy more mortgage backed securities in order to drive down interest rates and help the economy. Even though warnings were given that that would cause sever inflation one day, it was done anyway. That is the reason for mortgage rates dropping this morning. We just passed our 60+ year [...]

Columbus Mortgage Rate Update

September 21, 2011 by Steve Wagner · Leave a Comment 

The feds are meeting today at 2:15 pm to decide if they should lower rates to help stimulate the economy. Anyone notice other than me that gasoline prices are going down but Crude Oil prices are staying the same, somewhere between $85 and $90 a barrel. What’s up with that? MORTGAGE TIP OF THE DAY: [...]

Columbus Mortgage Market Update

September 20, 2011 by Steve Wagner · Leave a Comment 

This European debt situation is quite scary. PIIGS, (Portugal, Ireland, Italy, Greece and Spain) have a total debt of (only) $3.8 trillion dollars. Greece has the probability of default of 99.9%, according to CNN this morning. Even though Greece and the PIIGS seems like a long way away, it is having a dramatic affect on [...]

Columbus Mortgage Rate Update

September 13, 2011 by Steve Wagner · Leave a Comment 

Not much movement today in the markets. OPEC did cut their oil production because of decrease demand worldwide in order to keep the price of oil and gasoline up. I guess you call that blackmail. MORTGAGE TIP OF THE DAY: The Arlington Bank will finance a CO-OP’s in Franklin County. We need at least 25% [...]

Columbus Mortgage Rate Update

September 6, 2011 by Steve Wagner · Leave a Comment 

The market is still going in our favor this morning. Rates are down again. We have just equaled the 60 year low from 1950. We got slightly lower than that the day before the election in 2010. Will we beat that 60 year soon? More good news, Crude Oil went down this morning $2.00 a [...]

Columbus Mortgage Rates Update

August 24, 2011 by Steve Wagner · Leave a Comment 

Generally, the markets are all rebounding from last week’s bad economic news where the S&P lowered the U.S.’s credit rating. That sent rates down to a historic level. The general mood is everyone is recovering from that news and rates are slowly drifting back up. The Bond Money decrease is a slow reaction to the [...]

Columbus Mortgage Rate Update

August 18, 2011 by Steve Wagner · Leave a Comment 

This is just too bizarre. Stock Market is way down again, Crude Oil is down almost $4.00 a barrel. World economic news is bad forcing mortgage rates down. MORTGAGE TIP OF THE DAY: If you are trying to determine if a condo complex is FHA approved, go to www.HUD.gov and search approved condos. A screen [...]

Columbus Mortgage Market Update

August 5, 2011 by Steve Wagner · 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 the other direction. Crude Oil took a huge dive yesterday afternoon and still going down this morning. Down to $85 a [...]

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