Jobs on the Horizon
Though there wasn’t much “good news” this week, which means we should have seen rates decline, we actually saw rates increase a little on the comments made by the Fed after their FOMC meeting. They had less “dour” language hinting that they may raise rates in...
Reverse Mortgage: Not Always the Best Option
A retired couple called me asking for a reverse mortgage. They didn’t realize that this is an FHA loan and that their condo complex had to be FHA approved. I explained to him that I would be glad to get his community approved with HUD, but that that could take 45-60...
Owner-Occupied Loans
Is it true that when if you get an Owner-Occupied Loan, you have to refinance when you move out? NO! Believe or not I have had a few clients think that this is the case. When you sign loan documents, the NOTE and the DEED of TRUST are the 2 contracts that you sign....
Quiet Week in Economic News
Mostly a quiet week in the bond market as all eyes were on China and Europe. China lowered their interest rates this week to try and stimulate their economy (the 2nd largest in the world), and the European Central bank (like our Fed) gave indications that they would...