Blog Archives

Have you Been Tortured by a Lender?

Lenders have put some borrowers through the ringer due to enhanced underwriter guidelines. Although better qualified buyers are a good thing, idiotic and illogical requirements delay the process and make an already stressful process worse. Karen Deis, the operater of MortgageCurrentcy.com, has collected dozens of these tales of woe on her Facebook page. These stories […]

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Can there be a Boom without Bust?

Is Canada’s real estate market headed for a repetition of bust and its plunging values and distressed sales experienced in Arizona? They don’t think so. Do they know something we don’t – or are they nuts? There definitely are differences between the two markets, but is it enough to make Canada immune to a crash? […]

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Getting a Loan could get Ugly

Rumblings from the loan industry are that loans could be much harder to get in the future. Restrictions are being imposed upon government related loans, which are big part of current financing. Nationally, Fannie Mae, Freddie Mac, and the Federal Housing Administration (FHA) buy or insure approximately 97% of residential mortgages. FHA loans are important […]

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By the Numbers – Your Real Estate Update

First, the good news. Rates on 30 year mortgages matched the lowest level in decades by falling to 4.32%. According to Freddie Mac, this is the lowest rate since 1971. The rate on 15-year fixed loans fell to 3.75%, the lowest since records began in 1991. The 15-year rate is particularly good news, because the […]

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Positive Lending News at Last!

Good news on the lender front. First, HUD has reinstated the higher limits on FHA loans that expired 1/1/09. The limit for this government guaranteed loan was $346,250 last year for a single family home. But on 12/31/08, that amount lowered to $271,150.00. The impact of the decrease would have been less lending options and […]

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