In a surprise move, the Federal Reserve announced this morning that it will purchase as much as $600 billion in debt and mortgage-backed securities issued by the Fannie Mae, Freddie Mac and Ginnie Mae. $100 billion of the total will be spent on the...
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We finally received some great news today about financing for real estate loans and a push for the economy in general! With help from Obama & Co., a well-received plan to aid consumer lending companies seems to be reviving Wall Street as well as Mai...
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Its' been another crazy week on wall street and in the mortgage market. According to local Portland mortgage broker Shelby Bateson from Town & Country Mortgage (503-819-6545), the Dow was down Monday 200+ points, but almost set a new record for ga...
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A local mortgage broker, Eric Newman, with Summit Mortgage Corporation, sent this to us at the end of last week. In these times when it's easy to be frightened, we thought his words rang true and thought we would pass them on. Eric's emai...
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As part of the Housing and Economic Recovery Act of 2008, the government is implementing a tax credit for first time buyers who closed after April 1, 2008. The credit is intended for people who may be on the fence about buying their first...
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Given the financial problems in the national real estate market as well as the economy in general, the Portland market has definitely shifted. Back in the glory days of the bidding wars (glory days for sellers at least!), a house would often go...
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CNBC has a story about mortgage rates rising again (weekly average went from 6.04% to 6.24%) and even suggested waiting to buy or refinance a home. I'm shocked by that statement and I disagree for two reasons. First, we are still experienci...
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Why didn't mortgage rates go down when the Fed lowered the discount rate??? The media gave a lot of press to the Fed's decision to reduce their discount rate by 1.25% and how it would help the housing market. So why didn't rates on 30 yr fix...
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