I remember when I went to buy my first home. It was an exciting experience searching for the least run-down property in the worst part of town. But hey, that didn’t matter because that’s what I could afford. When it came to finding a mortgage company, I just went with the recommendation [...]

We want mortgage rates to move lower - especially with the stock market plummeting like it has been.  When is that going to happen and what’s TARP got to do with it?
TARP stands for Troubled Assets Relief Program and is managed by the Office of Financial Stability.  It is the program that will utilize the [...]

Mortgage rates across the board are up today.  Stock markets opened weak following huge sell offs in overseas markets.  Typically when the market is tanking like this, people invest in bonds as well as mortgage backed securities.  When mortgage backed securities are being purchased, the price goes up and the yield goes down - which [...]

We’ve explained yield spread premiums and mortgage points several times and want to illustrate the point in a manner that should be quite evident.  Let’s look at a GOOD mortgage versus a BAD mortgage - first time home buyers should pay close attention here.
To keep this simple, we will break this down into 2 simple [...]

Today’s mortgage rates are essentially unchanged from yesterday with a chance for high rate volatility. 
The best mortgage rates for 30 year fixed loans under certain terms are near 5.75%.  Points may apply.  This is not an offer to lend.

If you are working with a mortgage broker, and we hope you are, you will want to know everything there is to know about yield spread premium (YSP).  What is it and how important is it?
YSP is a ”rebate” that is paid by a wholesale lender to a mortgage brokerage.  It is a source of commission [...]