David's Blog

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Real Estate Mortgage Broker - Mortgages Unlimited - MUI NMLS #225504
My blog will try to provide you insights into mortgage lending, my prospectives into the real estate market and general information. I provide this based upon my 35+ years in the real estate, building and now for the past 20 years the mortgage industry.

ARCHIVED BLOG POSTS

2011 

Mortgage markets were unchanged last week, despite improving on four of five days. Economic data was worse-than-expected almost across the board, but neither FHA nor conforming mortgage rates in Minnesota budged. Instead, markets grappled with the just-released Fed Minutes which weighed heavily o...
Posted almost 3 years ago
The housing market recovery stalled last month. At least temporarily. According to the National Association of REALTORS®, Existing Home Sales slipped 1 percent in April from the month prior, falling to 5.05 million units on a seasonally-adjusted, annualized basis. The reading is exactly in-line w...
Posted almost 3 years ago
The Federal Reserve released its April 2011 Federal Open Market Committee meeting minutes Wednesday. In the hours since, mortgage markets have worsened; rates in Minnesota are higher by 1/8 percent this morning, at least. The "Fed Minutes" is published 8 times annually, three week after each sche...
Posted almost 3 years ago
Single-family housing starts dropped by 21,000 units in April on a seasonally-adjusted annual basis. The Housing Starts report measures the number of homes on which new construction "broke ground". It's tracked by the U.S. Department of Commerce which releases new data monthly. Single-family hous...
Posted almost 3 years ago
Home builder confidence can't shake its range, according to the National Association of Home Builders. The group's monthly Housing Market Index put May's builder confidence reading at a level of 16. The Housing Market Index is scored on a scale of 1-100. A reading above 50 suggests favorable cond...
Posted almost 3 years ago
Mortgage markets worsened overall last week for the first time in 5 weeks. Better-than-anticipated economic data plus dwindling concerns for Greece's sovereign debt combined to a spark a bond sell-off. Conforming mortgage rates moved higher in Wisconsin as a result. Rate shoppers were hit especia...
Posted almost 3 years ago
Another day, another piece of evidence that the U.S. economy is expanding. Thursday, the Census Bureau released the April Retail Sales report. Excluding cars and auto parts, retail receipts rose for the 10th straight month and, at $321 billion, reached an all-time high. Retail sales account for r...
Posted almost 3 years ago
Foreclosure activity continues to drop nationwide. Based on data from foreclosure-tracking firm RealtyTrac, foreclosure filings nationwide fell below 220,000 in April 2011, a 9 percent decrease from March. A "foreclosure filing" is defined as any foreclosure-related action including Notice of Def...
Posted almost 3 years ago
When a mortgage applicants chooses an adjustable-rate mortgage over a fixed-rate one, he accepts a risk that - at some point in the future - the mortgage's interest rate will rise. Lately, though, that hasn't been the outcome. Since mid-2010, conforming mortgages have adjusted below their initia...
Posted almost 3 years ago
With housing prices down across the country, there are a lot of homeowners in Minneapolis barely breaking even on their respective home sales. Some are even losing money. You may find yourself in that position, too; wanting to sell, but worried about bringing cash to your own closing. It creates ...
Posted almost 3 years ago
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