grauteam mortgage strategy | 1.31.08 end of day
January 31, 2008
Tomorrow has the potential to be a huge day for mortgage rates. The volatility we have experienced since the FED lowered the Federal Funds Rate 1.25% in a matter of days will most likely make tomorrow exciting. The Hourly Earnings, Average Work Week, Non-farm Payrolls, Unemployment Rate, ISM Index, and Consumer Sentiment Index all are released tomorrow. Read more
100% New Construction and Rehab Financing
January 29, 2008
Cornerstone Mortgage is now able to offer 100% construction financing. The product is a one-time-close construction to perm. Self General’s are allowed. Read more
grauteam mortgage update | 1.28.2008 | 30F 5.625% 15F 5.125%
January 28, 2008
Currently the bond market is -6bp and the Dow Jones Futures are pointing to a low opening as well. New Home Sales numbers will be released at 10:00am today. With the current volatility we expect the Bond Market’s movement to be
MHDC Bond issue 2008A delayed for Market Volatility
January 25, 2008
The MHDC will be delaying their bond issue 2008A until the second week in February. Market volatility and the predicted FED rate cut are the cause. Once the market settles they will be able to issue the new bond. Read more
News Flash | The conforming loan limit raises to $650,000
January 24, 2008
We have heard rumors that the approved economic stimulus package will have a clause to temporarily raise the conforming loan limit to $650,000 in high cost areas. This is an amazing opportunity Read more
Rate Watch | 30F 5.75% 15F 5.25%
January 24, 2008
We are in an increasingly volatile market. Yesterday we had unbelievable rates in the morning dipping down to 5.25 on 30 Fixed but Read more
California Home Buyer Sues Agent
January 22, 2008
David Streitfeld of the New York Times is reporting that Marty Ummel, a home buyer in California is sueing her Real Estate Agent for advising her to buy at an over inflated price. She claims that her agent Read more
grauteam mortgage update | 1.22.2008 | 30F 5.375% 15F 4.875%
January 22, 2008
Monday’s sell off around the world due to a lack of confidence in the US Economy and fears of a recession has resulted in the Fed making a move it hasn’t since 1984! This morning the Fed cut the Federal Funds rate by an unprecedented -75bp to 3.50%. Read more
“Footsie’s” $116,000,000,000 stock market decline!
January 21, 2008
Londons leading stock index the FTSE [footsie] declined 323.5 points or 5.5%. That is the biggest 1 day loss since the September 2001 attacks. Some people are calling today “Black Monday.” The crash is being blamed Read more
mortgage update | 01.17.2008 | 30F 5.500%
January 17, 2008
The FNMA 5.5% Bond has been riding a rollercoster recently. Today the bond is +12bp which translates into a solid 5.5% 30 fixed rate with no points. We expect continued volotility as the market digest Ben Bernanke’s testimony. Bernanke’s testimony confirmed that the Fed does Read more
