Monthly Archives: October 2008

When the government nationalized mortgage lending in September, housing analysts predicted lower mortgage rates. For a brief two-week stint, they were right — post-takeover, the 30-year, fixed rate mortgage fell below 6.000 percent nationally for the first time in 7 … Continue reading →

The Federal Open Market Committee voted to cut the Fed Funds Rate by one-half percent today. The benchmark rate now stands at 1.000 percent. In its press release, the Fed wasted no time addressing the key issue at-hand, stating that … Continue reading →

The Federal Open Market Committee adjourns from its scheduled 2-day meeting today at 2:15 P.M. ET and the markets are eagerly awaiting the central bank’s press release. In it, Fed Chairman Ben Bernanke is expected to address the U.S. economy, … Continue reading →

Despite turmoil on Wall Street, the housing sector continues to deliver good news. Last month, led by a 22 percent surge from the West Region, New Home Sales rose 2.7 percent over August. A “new home” is a newly-built residence, … Continue reading →

Now that you’ve replaced your home’s energy-hogging light bulbs with compact fluorescent ones, meet the next wave of environmentally-friendly home lighting — LED. Though nearly 10 times as expensive as compact fluorescent bulbs, LED lights hold several advantages as a … Continue reading →

Statistics are what you make of them, but sometimes, they can provide good perspective. For example, from its peak in 2005 to its trough in late-2007, the number of “used” homes sold nationwide plunged. In 2005: Roughly 7 million homes … Continue reading →

According to foreclosure-tracking service RealtyTrac, the foreclosure rate is falling nationwide. Versus August, foreclosures fell by 12 percent in September 2008 as more than half of the states showed month-over-month improvement. Most interesting in the data is that several states … Continue reading →

In the widest definition possible, amortization (pronounced: am-ohr-tih-ZAY-shun) is the scheduled process by which a loan’s principal balance pays down to $0. The opposite of an amortizing loan is an interest only loan for which there is no scheduled principal … Continue reading →

In an effort to limit risky borrower behavior, Fannie Mae announced a new round of mortgage guideline changes last week. Unlike previous its previous 20-plus updates that raised income requirements and minimum credit scores (among other changes), Fannie’s latest guideline … Continue reading →

It was a chilly weekend in most parts of the country, a not-so-subtle reminder that winter is right around the corner. And, for homeowners with ceiling fans, falling temperatures signal that it’s time to reverse your home’s air flow. In … Continue reading →