All Posts Tagged With: "interest"
ARMs & Out-Of-Whack Pricing
The government reports today that interest levels for fixed-rate 30-year loans reached 5.13 percent in February — up a touch from 5.06 percent in February 2009. What’s really amazing, however, is the interest level for adjustable-rate mortgages. In February a typical ARM was priced at 5.03 percent. You have to wonder: Why would any sentient [...]
30Mar2010 | Peter G. Miller | 0 comments | Continued
Controversy Brews Over Latest Obama Mortgage Write-Off Plan
The newest effort by the federal government to shore up the flagging housing market is going to set off a fierce debate. The just-announced FHA Refinance Option is likely to keep a lot of homeowners out of foreclosure. This is important because until the “shadow” inventory of distressed and foreclosed homes is reduced in a [...]
29Mar2010 | Peter G. Miller | 0 comments | Continued
A Basic Guide To Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th. But for those with real estate the load is made lighter by tax [...]
11Nov2009 | Peter G. Miller | 0 comments | Continued
Mortgage Surprise? What Mortgage Surprise?
The most used word in the world of mortgage financing during the past few weeks has been “surprise,” as in, “oh my, cover your eyes and turn away from those poor wretched loans.” “The U.S. mortgage giant Freddie Mac said it would no longer buy those high-risk home mortgages that it deems to be the [...]
9Nov2009 | Peter G. Miller | 0 comments | Continued
How To Read The New Good Faith Estimate Forms
Since January 1, 2010 HUD has required lenders to use a new Good Faith Estimate form or GFE. This is important because whether you buy a mansion or a cottage, you want to know how much your mortgage is going to cost — not just the interest rate but all the fees and charges you’ll [...]
2Nov2009 | Peter G. Miller | 1 comment | Continued
Real Estate: Will Mortgage Interest Write-Offs Be Reduced?
The Congressional Budget Office has come out with a report showing 66 ways to raise money for the federal government. This sounds like dull and boring stuff until you get to Option #7: Reduce the Mortgage Interest Deduction or Replace It with a Tax Credit. Ugh. You can see where this is going. “The first [...]
8Sep2009 | Peter G. Miller | 0 comments | Continued
Mortgages: Interest Rates Retreat
During the past week mortgage interest rates moved visibly lower. Freddie Mac says the 30-year fixed-rate mortgage (FRM) averaged 5.12 percent with an average 0.7 point for the week ending August 20, 2009, down from last week when it averaged 5.29 percent. Last year at this time, the 30-year FRM averaged 6.47 percent. Today’s interest [...]
22Aug2009 | Peter G. Miller | 0 comments | Continued
Are Low Mortgage Rates Over?
It’s been quite a week on the mortgage front. According to Freddie Mac, as of last week rates for fixed-rate, 30-year mortgages went from 4.91 percent to 5.29 percent, both with 0.7 points. That’s a big jump for a seven-day period, but let’s have some context here: Last year at this time the same loan [...]
9Jun2009 | Peter G. Miller | 0 comments | Continued
Interest Rates Rise Suddenly, Say Mortgage Bankers
The Mortgage Bankers association is reporting that mortgage rates moved up sharply during the past week. ___ “The average contract interest rate for 30-year fixed-rate mortgages increased to 5.25 percent from 4.81 percent, with points decreasing to 1.02 from 1.28 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans. The 44 basis point [...]
3Jun2009 | Peter G. Miller | 0 comments | Continued
2009 Real Estate, Mortgages & Taxes
Let’s be honest: April 15th is a day of reckoning, the moment when we find out what we really owe for taxes. In households nationwide wallets are drained and many who were rich on the 14th are greatly impoverished by the 16th. But for those with real estate the load is made lighter by tax [...]
11Mar2009 | Peter G. Miller | 1 comment | Continued
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