Quantcast

Tag: conventional

Are Conventional Mortgages Drying Up in Minority Communities?

Are Conventional Mortgages Drying Up in Minority Communities?

Is mortgage redlining still plaguing communities of color? A new report from seven housing and policy agencies suggests evidence of a two-tiered mortgage market in which borrowers and communities of color are increasingly cut off from prime conventional financing. Origination data from seven cities in 2010 show that borrowers in diverse communities receive government-backed loans […]

Posted in: News
Why Low Mortgage Rates Are A Problem

Why Low Mortgage Rates Are A Problem

Hardly a week passes when mortgage rates do not hit another historic low. This sounds really good – especially if you’re a borrower – but the reality is that microscopic loan rates suggest an economy which remains deeply troubled along with home values unlikely to rise. At the end of May Freddie Mac said “the […]

Posted in: News
Virgins, Foreclosures & Auctions

Virgins, Foreclosures & Auctions

We usually associate real estate auctions with foreclosures and other unhappy events, but Pam McKissick argues that auctions should have a wider role in today’s residential market. McKissick, the CEO of Williams, Williams & McKissick, one of the nation’s largest auction firms, says “auction bridges the gap between buyers’ desires and sellers’ expectations. Auction is where real […]

Posted in: News
PCs: Why The Thrill Is Gone

PCs: Why The Thrill Is Gone

Would you pay more than $4,000 for a laptop? Such goodies are now available. Bloomberg News reports that the latest laptops are quick, thin and have huge amounts of storage capacity. The price for such computing firepower? Anywhere from $1,700 to as much as $4,500. (See: Skinny, Pricey PCs Timed for Windows 8,” May 2, […]

Posted in: News
FHA Mortgage Applications Up, Approvals Down

FHA Mortgage Applications Up, Approvals Down

A lot of people who hope to buy real estate at bargain prices are finding that FHA mortgages have become hard to get. While home prices are generally down more than 19 percent from the highs seen in 2007, and while fixed-rate mortgages continue to be available at less than 4 percent, borrowers are finding […]

Posted in: News
Top Banker Explains Mortgage Meltdown, Foreclosures

Top Banker Explains Mortgage Meltdown, Foreclosures

Profits were up at JP Morgan Chase in 2011, but no less important candor continues on a high level. In his 2011 annual letter to shareholders, Chairman and Chief Executive Officer Jamie Dimon looks at the mortgage crisis, explains what went wrong and how Chase got involved. JP Morgan Chase, it should be said, did […]

Posted in: News
Break Up The Big Banks — Now or Later?

Break Up The Big Banks — Now or Later?

Lurking behind the presidential campaign of 2012 is the huge money issue of what to do with the big banks. Yes, it’s true that most passed their stress tests — at least 15 of 19 big institutions were able to make it — but would the financial system be better off if we started now […]

Posted in: News
Will debt to China raise US mortgage rates?

Will debt to China raise US mortgage rates?

Our growing debt to China is much in the news, so will it lead to higher mortgage rates? Worries about what we owe to China are much more of a problem at this point for the Chinese then for us. To understand why let’s take a look at some facts. First, we owe the Chinese […]

Posted in: News
Why Obama Should Favor Mortgage Appraisals

Why Obama Should Favor Mortgage Appraisals

President Obama inherited the worst financial crisis since Hoover and the Great Depression. It follows that getting the country back on track is no easy task and while his new housing plan includes much to support it also includes a provision to dump appraisals when they are most needed. Dump is really the right word. Fannie […]

Posted in: Mortgages
Caution: Refinancing with Low Mortgage Rates May Not Work

Caution: Refinancing with Low Mortgage Rates May Not Work

I got a letter from my mortgage lender offering to refinance my home. I could lower my rate, said the letter, and I might save money. Actually, both claims are correct but the bigger issue is whether refinancing is actually worthwhile. According to the letter my mortgage rate would drop from 4.63 percent to 4.46 […]

Posted in: Mortgages