Mortgage markets worsened last week on better than expected economic data, causing mortgage rates to rise.
Last week was the third consecutive week that mortgage rates moved higher and, since touching a multi-month low in early-October, conforming mortgage rates are up by about a half-percent.
It's likely rates will continue to rise, too. That's because the same force that held rates down for so long is now the force pulling them up -- expectations for the U.S. economy.
Over the last 6 months, it wasn't clear in what direction the country was headed. The housing sector has been gaining in strength, but the rest of the economy has been a question mark.
Last week put an end to some of those questions:.............
Read the COMPLETE BLOG HERE
What's Ahead For Mortgage Rates This Week : October 19, 2009
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderamaand recently featured on Fox35 News.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
Mortgage rates are higher after the Federal Reserve released the internal notes of its September 22-23, 2009 meeting.
Known as the "Fed Minutes", the report details the conversation and cross-currents that led to the Federal Reserve's decision to vote "unchanged" on the Fed Funds Rate after its last meeting.
The Fed Minutes are the lengthy companion to the more famous, succinct post-meeting press release.
As a comparison:
The extra level of details is a big deal because Wall Street is perpetually in search of clues about what the Federal Reserve is going to do next.
In the past week, multiple Federal Reserve members hinted that..............
Read the COMPLETE BLOG POST HERE
The Fed Thinks The Economy Is Improving And What It Means For Home Affordability
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, and proudly the newest contributor to Lenderama.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
For the seventh consecutive month, foreclosure activity in the U.S. was dominated by a tiny subset of states.
As reported by RealtyTrac.com, more than half of September's foreclosure-related activity occurred in just 4 states:
These states represent just 22.05 percent of the total U.S. population.
Overall, foreclosures are up 29 percent from September 2008 and, while, the data seems negative, defaults are creating some interesting buying opportunities.
Foreclosed homes often sell at a discount as compared to non-foreclosed homes. Cheap prices, low mortgage rates and willing buyers have helped to spur home sales in many U.S. markets. In August, "distressed homes" accounted for one-third of all existing home sales.
That said, buying foreclosures isn't for everyone.
First off, foreclosed homes are often sold "as-is" and may be in perfect condition,...........
Read the COMPLETE BLOG POST HERE:
Foreclosure Activity Remains Concentrated In Just 4 States
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, and proudly the newest contributor to Lenderama.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
Mortgage markets worsened last week as investors responded to a recovering global economy.
Despite briefly touching their lowest levels since May, mortgage rates ended the week dramatically higher.
It's the second straight week that rates soared on a Friday.
For several months, Wall Street has been in limbo; undecided whether the economy is truly showing signs of improvement. Negative news has tended to sink rates while positive news has tended to do the opposite.
Lately, investors have been in search of signals anywhere signals can be found. Last week -- sans hard-hitting economic data -- those signals came from the worlds' Central Banks.
Shortly after Australia raised its interest rates by one-quarter percent, Fed Chairman Ben Bernanke suggested that........
Read the COMPLETE BLOG POST HERE:
What's Ahead For Mortgage Rates This Week : October 13, 2009
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, and proudly the newest contributor to Lenderama.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
According to the Freddie Mac weekly mortgage rate survey, the relative cost of a 5-year ARM is dropping versus its 30-year fixed-rate cousin.
During the first 5 months of 2009, the products ran neck-and-neck. Today, they're a half-percent apart.
On a $200,000 home loan, that's a difference of $60 per month.
Adjustable-rate mortgages aren't for everyone, but for the right household, they can be a terrific fit. A few scenarios that warrant consideration of a 5-year ARM include persons:...
Read the COMPLETE BLOG POST HERE:
It's A Good Time To Look At Adjustable-Rate Mortgages
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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, and proudly the newest contributor to Lenderama.
Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210
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Anyone can say anything about themselves. Whoopy! See what my PAST CLIENTS are saying... http://www.orlandomortgagepro.com/What_people_are_saying.htm
Welcome
Don't HATE me because I am conservative with YOUR money! Let someone else take the risks.
Feel free to check me out here, but if you prefer, you can go directly to one of the following:
Orlando Real Estate | Orlando Credit Repair | Loan Modifications | Orlando Mortgages
Orlando Real Estate and the Mortgage Chili Blog
I have a reputation for my highly relational approach to my Orlando mortgage business and intentionally blur the lines between business and friendships.
"All things being equal, people would rather do business with people they like. I believe that all things not being equal, people would still rather do business with people they like."
It is with this philosophy that I have built one of the most loyal groups of clients [read: friends!] and successful mortgage and Orlando credit repair practices in the Central Florida arena.
Don't be surprised if you hear me ask, "How can I help you in your [life, business, etc.] today?" And when I does, know that it is driven by a sincere desire to serve those around me... pay it forward so to speak.
I have a record of self improvement that would rival that of anyone in the industry. I either am or have been aligned with:
I have also invested in my community with my time:
I, Chris Brown, pride myself as NOT always being available, and surprisingly,when I took that approach long ago, my business grew! If you don't make the time in your life for the things that are truly important, you will fill your time with things that are not. For me, it is God First, family second, business third. I am only able to pour my life into my clients because I build boundaries to recharge my batteries with my family and my Creator."
Chris's home for living with life balance.
Chris the Implementer
Orlando Mortgages | Orlando Credit Repair | Orlando FHA Loans
Orlando Real Estate | Florida Reverse Mortgages | Mortgage Chili Blog
Chris is mainly known for his work in the with First Time Home Buyers.
Being quick on his feet reacting to market changes, Chris has also developed quite a respectable FHA business and has become one of the best resources for local Realtors who have folks with challenged credit through his association with the U.S. Credit Repair Counsel.
The Bottom Line:
Chris uses all of the tools he has independently invested in to help agents determine, and fast, if they have a buyer that can qualify for a purchase. Since agent's time is their livelihood, this has become an invaluable tool for them in this challenging market.
"Chris is detail-oriented, resourceful, and on-time with his work. We'll work with him again, and refer others to him because he does great work."
Top qualities: Great Results, Expert, Creative
Augie Byllott
First hired Chris as a Financial Advisor in 2005, and hired Chris more than once
"Chris is an honest, hard working mortgage professional. More than that he is a good man. Integrity and faith are two of his greatest strengths. His foremost concern is what's best for his client. He is the kind of business professional you can enjoy working with."
Top qualities: Personable, Expert, High Integrity
Kristy Stevenson
First hired Chris as a Mortgage Lender in 2003, and hired Chris more than once
"I have hired Chris more than once to get me through the mortgage process. Chris kept me informed on a daily basis of progress and his attention to detail and devotion to customer service is phenomenal. I will continue to use Chris for all of my mortgage needs in the future."
Top qualities: Personable, Expert, High Integrity
Marcus Mennenga
First hired Chris as a Mortgage Lender in 2005
"Chris has worked with many of our clients and they are always well-pleased. He is a detail-oriented manager who always does what is right for our clients. It is a privilege to have Chris' expertise helping our clients."
Top qualities: Personable, High Integrity, Creative
Henry Silva
hired Chris as a Equity Manager in 2007, and hired Chris more than once
"I have purchased and re-financed many houses in the last 10 years and I am happy to say that Chris Brown is, by far, one of the best Equity Managers I have ever worked with. There were absolutely no hiccups in the entire process. He is very professional, knowledgeable and cooperative and it has truly been a pleasure working with him. I am happy to give my recommendation to use Chris for any mortgage loan need."
Top qualities: Great Results, Expert, On Time
Garth Bolton, Owner, Property Rescuer, Inc.
first hired Chris as a Mortgage Lender in 2004-present
"Chris is a very detail orientated mortgage lender that goes above and beyond what could ever be expected. Add that to his high level of integrity and honesty and you have a trusted advisor with advise worth heeding!"
J Robert Brown, Owner, Prefer1 Realty
was with another company when working with Chris at Trinity Mortgage
"Chris has provided mortgage lending service to a number of the folks whom I've helped either buy or sell a home. Chris is consistently conscientious, on top of the situation, and communicates very well. He anticipates situations before they get out of control and helps to resolve them. Chris takes a long-term view of things and is a " can-do" kind of person whose primary goal is to satisfy his customers, confident in the knowledge that if he takes care of them, he will be successful."
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