Fed Rate Cut = Higher Mortgage Rates?

Yes! (Well this time anyway.) Why? Mortgage rates follow the bond market, not short term interest rates. Mortgage rates are also influenced by inflation concerns.

http://www.bankrate.com/nltrack/news/mtga/Dec1307_mortgage_analysisa1.asp?ec_id=brmint_ns_mortgage_20071213

So do rate cuts affect mortgage rates? Sometimes....

Theft or Adverse Possession?

http://www.landgrabber.org/

Heard about the family in Boulder, CO who lost 34% of a property they were planning to build on to adverse possession? Check it out!

Enough Already!

Log onto msn.com or yahoo.com or espn.go.com.... After clicking on an article or two, you'll notice that there are mortgage ads. 4.65%

Wow!

The aids fail to tell you that this requires either negative amortization or a rate buy down. These products may be the right fit for a very select few borrowers. However, for 99% of the population, its not reality!

It's a teaser!

It's shady advertising.

If a company tries to earn your business by advertising a rate you don't qualify for, is that really someone that you want to trust with the financing of your greatest asset, your home?

So Proud....

I had the chance to catch up with one of my friends at a wedding this past weekend. Soon, we were discussing their first home purchase. They had been shopping and shopping and shopping...

The found the one and made an offer.

The seller refused to budge.

The moment of truth.... Should they:

1) Take the deal. Afterall, they love the house!

2) Walk away.


WALK AWAY! The great news is.... they did! There are too many homes on the market to let the seller control the transaction. It's a buyers' market and buyers who allow sellers to control the transaction may find themselves singing the upside down blues!

Merry Christmas Adjustable Rate Mortgage Holders!

United States Treasury Secretary Henry Paulson is extremely optimistic that many of the big players in the mortgage industry are going to go to work for thousands of homeowners.

A deal is in the works to extend the lower introductory rate on fixed rate mortgages for 1 - 7 years. My bet is that when it is all said and done, we'll be looking at 3 years.

This is phenomenal news! If it goes through, it will be the government's greatest achievement in alleviating the mortgage meltdown!

http://hosted.ap.org/dynamic/stories/M/MORTGAGE_CRISIS?SITE=CODER&SECTION=BUSINESS&TEMPLATE=DEFAULT#

Sunny Skies Ahead?

Probably not. However, here is a little hope that Colorado will be one of the first states to recover from the mortgage crisis.

http://www.rockymountainnews.com/news/2007/dec/01/states-foreclosure-rate-drops-to-no-7-in-nation/