The good, the bad and the ugly of the lending world
ARCHIVED BLOG POSTS
I've been fielding a ton of requests by people I know wondering if they should refinance their mortgage right now. My answer to them is it depends. Obviously, if a person has a fairly high rate on their mortgage (north of 7%) and can get a new mortgage somewhere in the mid 5's, it's worth taking...
Good morning: With the Federal Reserve poised to cut interest rates again this morning by 1/4-1/2%, I wanted to weigh in with my thoughts about how this is going to affect our world this year. First of all, some clarification is needed. When the Federal Reserve Board decides to cut interest rates...
Good morning! Are you in an adjustable rate mortgage? Is it set to adjust this year? Don't panic. The natural inclination is to want to refinance before your interest rate goes up. But I think it's important to weigh all sides before making your decision.It can be expensive to refinance. Beyon...
Good morning! The Bank of America/Countrywide merger announced yesterday didn't surprise me. In fact, I think it had been in the works for a while now. I think it's a good thing although there will be quite a bit of pain involved.Without BofA stepping in, Countrywide probably wouldn't have sur...
Hello everyone: I was driving home this evening and wanted to comment about why our market is the way it is. Basically, we did it to ourselves. Today, a co-worker who needs to make a certain high income just to pay his bills, started talking about a loan he's doing where he's making a whole bu...