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Mortgage Rates: The Obtainium Economy

Mortgage Rates: The Obtainium Economy

Mortgage rates and obtainium have a lot in common, something great for borrowers who prefer smaller monthly payments. Let me explain. There was a special trash pick-up on Saturday morning in our part of Pensacola. You could put big stuff in front of your house and a huge city truck would come by and scoop […]

Real Estate: Is A Bubble Coming?

Real Estate: Is A Bubble Coming?

Are we facing a housing bubble? After all, as of June existing home prices have risen for 52 straight months according to the National Association of Realtors. You have to wonder how long such a streak can continue. According to Realtor.com, “some folks these days are beginning to wonder whether the U.S. is seeing another […]

Mortgages Rates Slump For The Summer

Mortgages Rates Slump For The Summer

Mortgage rates have slumped this summer in a way that should elate borrowers. Alternatively, a lot of lenders and Fed officials no doubt wonder how it’s possible that mortgage rates went from 4.09 percent a year ago to a meager 3.42 percent in the past week according to Freddie Mac. It’s not just that mortgage […]

Mortgage Rates: Can They Go Lower?

Mortgage Rates: Can They Go Lower?

Can mortgage rates go lower? Not an 8th of a percent here and there, but really lower, say in the 2 percent range or lower still? The Wall Street Journal argues that banks are doing everything possible to stave off reduced rates and that mortgage costs should actually be lower. “Banks,” says the paper, “have […]

48 Hours In Pensacola — 2016

48 Hours In Pensacola — 2016

You could say that Pensacola is an old southern town but that would be an understatement. The first European settler was Tristan De Luna, a Spanish explorer who arrived in 1559, more than 200 years before the Declaration of Independence was signed. A lot has happened since De Luna first marched ashore and today visitors […]

Why Brexit Will Produce Record Low Mortgage Rates

Why Brexit Will Produce Record Low Mortgage Rates

The quick and easy way to see where mortgage rates are headed in the near term is to look at Treasury bonds. The rate for such securities reached 1.58 percent on Friday, down from 1.74 percent the day before, the day the British voted to leave the European Union. Around the world markets lost $2 […]

Real Estate: Why The Common-Sense Mortgage Is Back

Real Estate: Why The Common-Sense Mortgage Is Back

When are you going to re-do the mortgage book? It’s a question I get with some frequency because the “mortgage book” was published by Harper & Row in a series of editions that spanned more than a decade. It popularized a revolutionary idea, the thought that mortgage borrowers could save enormous amounts of money if […]

Fintech: Who Will Pay The Mortgage If Robots Take Our Jobs?

Fintech: Who Will Pay The Mortgage If Robots Take Our Jobs?

Technology was supposed to be the savior of mankind and you have to admit it’s been great. Dogs are being cloned, drones are taking out the bad guys, and farmers are more productive. The only people who can still use a slide rule remember when Eisenhower was in office. But, unfortunately, there is the little […]

Mortgages: The Fed Wants To Raise Rates, Blah, Blah, Blah

Mortgages: The Fed Wants To Raise Rates, Blah, Blah, Blah

The Fed’s hint last week that it may again raise mortgage rates sent an instant shudder throughout the mortgage marketplace. Mortgage interest levels for 30-year fixed-rate financing “shot up” into the 3.7 range and the usual dark murmurings about the hideous impact on home sales began to circulate. We’ve seen this show before. For much […]

Is Mortgage Shopping Too Quick?

Is Mortgage Shopping Too Quick?

Has mortgage shopping become too quick and easy? Or, are speedy mortgages a good thing, evidence that automated loan services are a growing success, making it easier to get financing with fewer hassles? “On average,” reports Zillow, in a just-released study, “Americans spend just eight hours researching their home loan, and obtain just four quotes […]