C21AGVoices

Monday, the Dow Jones Industrial Average closed below the psychologically-important 10,000 level for the first time since 2004. Despite the milestone-marker breach, however, there was a large group of Americans with reason to cheer.  As stocks sold off, mortgage markets rallied to the benefit of home buyers everywhere. Conforming mortgages rates improved yesterday. Most interesting […]

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In an effort to provide “the most market support possible”, Fannie Mae is cutting one of its mandatory loan fees by 0.250 percent, effective immediately. Fannie Mae introduced the Adverse Market Delivery Charge in December 2007 to offset foreclosure and delinquency losses.  The initial fee was a quarter-percent of the amount borrowed.  Then, as market conditions worsened, […]

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While home electronics advance, the basic extension cord has been slow to catch up. This has created a size mismatch because today’s devices tend to carry large size plugs, but the standard 6-outlet power strip is only meant for “skinny” ones. Pictured at right: the solution. Matching form and function, the ezSpace UFO provides 6 […]

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Monday afternoon, the U.S. House of Representatives defeated the $700 billion “Bailout Bill”, surprising Wall Street and the world.  The Dow Jones Industrial Average responded by falling 777.68 points — its largest one-day loss in history and, this morning, every newspaper in America is covering the story as front page news.  Lost in the coverage, however, […]

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When functioning properly, gutters can extend the life of a home. By directing water away from the physical structure, gutters protect a home’s foundation, its siding, and its landscaping. The key to reliable gutter performance is simple — keep them clean.  Twice annually, experts recommend a thorough gutter cleaning and the project can be a […]

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Earlier this year — and for the first time in its history — the FHA changed its funding fees and mortgage insurance structure. Effective October 1, 2008, it’s repealing those changes. Partly to keep FHA home loans affordable, and partly to comply with new laws, the FHA is rolling back its up-front fees and ongoing mortgage […]

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Thursday, federal regulators seized mortgage lender Washington Mutual.   The Seattle-based thrift became the third “big name” lender to close its doors since July, joining IndyMac and Lehman Brothers. In 2007, these 3 lenders represented about 10 percent of the mortgage market and their subsequent failures are confusing American homeowners. The most prevalent question: If my mortgage lender […]

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In August, home builders broke ground on the fewest number of homes since January 1991.  It was the 16th straight month in which Housing Starts declined. But, although the press labels these statistics indicative of a recession, home sellers nationwide quietly applaud them. With fewer new homes coming on the market, home sellers are finding that there’s […]

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On all principal + interest home loans, the first few years of payments include a lot more money going to interest than to principal.  This is because mortgage repayment schedules are front-loaded with interest, meaning large-volume principal reduction won’t occur until late in the mortgage’s lifecycle. Comparing products at a 6% mortgage rate, did you know […]

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For the third consecutive meeting, the Federal Open Market Committee left the Fed Funds Rate unchanged at 2.000 percent. Of interest to mortgage rate shoppers, the FOMC led its press release with comments about the health of the financial and labor markets, calling them “strained” and “weakened”, respectively. The relative weakness in both of these […]

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