In what has to be one of the most bizarre developments in real estate this year, the ivory-tower folks at the Fed, of all people, dreamed up a creative new loan that would not require a down payment. Then they used the dreaded COFI term from neg-am mortgage days! No...
The impact of losing the mortgage-interest deduction has been blown out of proportion by NAR lobbyists. Let's tinker with it now when rates are low and see if lower taxes could spur additional demand. There may be rumblings about lowering the cap on mortgage interest...
Worried about the bubble bursting? You can get insurance!
'Warranty relief' means that taxpayers will be on the hook. LINK Freddie Mac announced Friday it is making buying a home a better experience for lender and homebuyers – by cutting the appraiser out of the process. The company is now offering a new product which will...
It's hard to lower the down payment on a jumbo loan so any effect on the coastal regions is probably minimal, but this suggests that the stronger buyers are giving way or running out: Seen at CR and MND: LINK An excerpt: This month, in light of much commentary and...
The Wall Street Journal published this article about the mortgage-interest deduction having little - or no - impact on the decisions made by homebuyers: LINK Of course, the N.A.R., who is beholden to our lobbyists, refuses to consider any changes. The N.A.R. spent...
Rates are under 4.0%, no points! From MND: Mortgage rates fell convincingly today, though not all lenders adjusted rates sheets in proportion to the gains seen in bond markets (which underlie rate movement). Those gains came early, with this morning's economic data...
Those with less skin in the game are typically the people who have the most trouble in a down market. Apparently, the potential profit must be so large that the investors overlook that - or figure there is little chance the government will let the market go down...
When the day comes that you hear the big banks pushing for reduced-doc loans, you'll know that the top of the market is near: http://www.reuters.com/article/us-bank-of-america-mortgages-idUSKCN18E37J The head of Bank of America Corp, the United State's fourth-biggest...
Our local home prices have risen so quickly that it feels like we're in 'bubble' conditions again - could the bubble burst this time? The last two times the real estate bubble has popped, it was due to banks having to offload their foreclosed properties for whatever...
