I received this timely email from Ed Brill, a friend in the Miami mortgage industry which follows beautifully after Cramer’s good news regarding the “Housing Bottom“. By the way, for those of you that called me crazy for posting Cramer, the answer is……..did you have any doubts?
To sum it up….if you find [...]

After 100 days of relative calm, volatility is returning to mortgage markets. Over the last two weeks, lenders have issued 3-and-a-half rate sheets per day on average, including a series of 5-rate-sheet days. A “rate sheet” is a mortgage lender’s official pricing menu and each time a new rate sheet is issued, it means that mortgage rates have changed.

Earlier this year, Fannie Mae increased the maximum properties financed limit to 10, giving Miami investors a ticket to the nation’s REO and Foreclosure Party. In its official announcement, Fannie Mae said upping the financed-property limit could stabilize housing.

Some videos need no introduction – The Miami Mortgage Mess is not local….and unless you live under a rock…..you know it affects not only the whole country, but goes beyond our borders and as called in this video, “A Worldwide Financial Disaster” – I thank the people at CrisisofCredit.com for coming up with such a [...]

Remember I told you to sit tight on that mortgage rate lock until after the Bailout Bill was passed?
Well, it failed.
Mortgage rates are a little better than they were this morning. This morning a 30-year fixed par rate was at 6.0%; this afternoon, it was at 5.875%.  If you’re closing on your home loan [...]