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Category Archives: News
New Dodd-Frank Disclosure Rules will Cause Delays!
ShareTweet On October 3rd the new TRID (Tila-Respa Integrated Disclosure) rules went into effect for all residential loans with application on or after that date. Delayed closings are an imminent reality due to the timing requirements of the new rules. … Continue reading
Posted in Financing, News
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Payroll Reports Shoot Mortgage Rates Higher!
ShareTweet The mortgage backed securities markets and the 10 year Treasury Bond Markets shifted gears today on what many believe will be an irreversable track toward higher rates. This isn’t just a small bump in the tight range that things … Continue reading
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FHA Lower Mortgage Insurance Effective Soon!
ShareTweet Beginning with FHA numbers drawn January 26th of 2015 the Monthly Mortgage Insurance Premium (MIP) will lowered from a factor of 1.35 to a factor of .85. Let’s do the math. for a $100,000 mortgage the current premium is … Continue reading
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FHA Pulls the “no house flipping” Waiver!
ShareTweet On December 31, 2014 FHA will stop allowing property that has not been owned for at least 90 days to be re-sold. This waiver had allowed investors to absorb foreclosed properties, rennovate them and re-sell them to a new … Continue reading
Rates are Best in 3 Months! What are YOU Waiting For?
ShareTweet Snow melt? Even Lower Rates? More Homes for Sale? Saving for a larger Down Payment? Whatever you are waiting for it could cost you a fortune! Even though we are experiencing a small down tick in rates, the trend … Continue reading
Posted in Financing, News, Real Estate
Tagged best interest rate, Conventional, Expert Advice, FHA, financing, mortgage, real estate, usda, VA, Victory Funding
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USDA Eligibility Maps to Remain In Place…For Now!
ShareTweet The maps were supposed to change at the beginning of the year, but have now been left in place until October 15th 2014. USDA mortgages allow income qualified borrowers purchase homes that are considered “rural” with 100% Financing. They … Continue reading
Breaking Rate News and Lending Update!
ShareTweet I’m pleased to tell you the FED just announced they would maintain their current MBS buying program (QE-3)! Here is a link to the news; http://www.reuters.com/article/2013/09/18/us-usa-fed-idUSBRE98G1D620130918 That means rates just took a nice drop after increasing sharply over the … Continue reading
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Is This the End of Low Mortgage Interest Rates?
ShareTweet The tough decisions Greece has had to make to rescue it self from decades of overspending have begun to produce some economic optimism. Couple that with NAR’s (National Association of Realtors) better-than-expected housing numbers on pending sales and we … Continue reading
Posted in Financing, News, Real Estate
Tagged interest rate, mortgage, mortgage broker, Mortgages, realtor, tip
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Global Foundries in Malta, NY is the largest economic development project in America
ShareTweet I attended a power breakfast this morning featuring the Global Foundries VP, the CEO of Sematek and the CEO of M & W Group. What a tremendous turnout! Think about the amazing opportunities that exist here in upstate NY. The … Continue reading
Posted in Investing, Local, News
Tagged advice, Buy Real Estate, Buyers, choice, Global Foundries, real estate agent, satisfaction, seller
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Interest Rates and Unemployment Stats are Linked
ShareTweet For those of us that follow interest rates on a daily, or hourly, basis it is easy to see some interesting trends in market. For instance, when the unemployment numbers come out Interest rates always react. When the news … Continue reading
