What a fascinating and tumultuous time is upon us! Both the housing and the mortgage market are convulsing wildly! There are so many facets to the "big picture" that I would never presume have all the answers, so the following disclaimer is in order: I am a mortgage broker and the following is my opinion...
Freddie Mac 23rd Annual Adjustable Rate Mortgage (ARM) Survey released last week contained few surprises. The three major findings were: A decline in the market share of ARMs as savings from these loans as compared to fixed rate loans shrank; Greater lender discounts to entice borrowers into taking out...
The Federal Reserve Board seldom giveth, but they did send home buyers and owners as well as real estate professionals a bit of a holiday present last week. The Board in conjunction with the Office of Thrift Supervision issued a revised version of its venerable Consumer Handbook on Adjustable-Rate Mortgages...