Sub-Prime Mortgage Industry Implodes

Wow! The past two weeks in the mortgage industry have been wild. Sub-prime lenders are scared to death. Several more companies have gone out of business. All of the others are quickly tightening their guidelines. Stock prices have plummeted and employees are scrambling. I honestly believe most people saw this coming. We certainly did. What’s…

Interest Rates are Rising…

It’s amazing how fast interest rates are increasing. Less than two months ago, rates were one-quarter to one-half point (percentage point) lower than they are today. The yield on the ten year treasury note has increased from around 4.5% to 4.9%. I would guess the main reason for the increase is the uncertainty surrounding inflation.…

Researching a mortgage online

I read a statistic the other day that nearly 75% of consumers research products and services online before making a purchase. That started me thinking about researching mortgages online. It’s a great way to ‘shop smart’ but I recommend you keep a couple things in mind as you go cyber sleuthing for a loan. 1.…

Thoughts on the Mortgage Industry for 2007

Over the past two weeks mortgage rates have increased steadily. Is this a trend that will continue in 2007? It’s really anyone’s guess. Mortgage rates are tied closely to the 10-year treasury bond which changes daily based on market news. Many economists believe rates will increase throughout the year. I think most of the mortgage…