Home Loan Modification Programs Will Help You Save Money

In March, President Obama and his administration announced the Making Home Affordable Plan. The plan is designed to help slow down foreclosures and give common Americans the chance to have access to lower mortgage rates. The original plan was not to keep mortgage rates under 5% but other aspects of government interaction are causing this [...]

Mortgage Rate Trends Pointing Towards Lower Rates

UPDATE – July 19th – The most up-to-date mortgage rate trends article is available here: Mortgage Rate Trends – Will the Interest Rate Downtrend Be Broken? For almost seven years mortgage rates have been moving in a sideways direction between 5% and 6% so is this the bottoming process for a downtrend that has lasted [...]

Mortgage Rate Trends – April 14th – Rates Back to 5%?

As we all know, mortgage rates have been under 5% for a few weeks now and it is almost becoming a normal thing to hear that rates are at historic lows. Obviously, mortgage rates cannot hit historic lows every single week because this is not how financial markets work. We are definitely going to see [...]

Wells Fargo “25% of Mortgages Were Home Purchases Not Refinancings”

Last week Wells Fargo showed healthy gains in the stock market as they posted a $3 billion first quarter profit. Part of the reason that Wells Fargo showed such a large profit was the fact that they got Wachovia at wholesale prices. While Wachovia was very poorly run and had some subpime exposure, there was [...]

Mortgage Rate Predictions – April 13th – Mortgage Rates Edge Higher

Last week the Freddie Mac weekly survey showed a bounce in mortgage rates just as I had predicted. I think part of this is psychology, but a lot of it has to do with the fact that mortgage lenders are getting swarmed with mortgage applications. The only way to slow down the influx of mortgage [...]

Obama Bank Rescue Will Not Work Due to Mortgage Fraud

Mortgage fraud is a strong driver of the current crisis. In September of 2004, the FBI attempted to stop mortgage fraud that “could” cause a major economic crisis. Last year there were 63,000 referrals for mortgage fraud, over 80% done by the lenders. The FBI clears about 800 of these fraud cases. How is it [...]

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