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Houston Man Sentenced to Prison for Bank and Home Equity Scam

The Houston bureau of the FBI said today, that Obinna Gregory Okoro, 25, of Houston, was sentenced to 57 months in prison for conspiring to commit bank fraud, computer fraud, and aggravated identity theft. According to the FBI, Okoro conspired to create fake bank... read more

Mortgage Rate Report for Friday January 30, 2015

After three weeks of declining rates, the national average for conforming fixed mortgage and ARM loan rates were slightly higher this week, but still remain at 20-month lows. Freddie Mac said this week, that the 30-year fixed-rate mortgage (FRM) averaged 3.66% with an... read more

Mortgage Applications Slightly Down This Week

The best mortgage rates since March 2013 had prompted many borrowers to seek new loans, and caused loan applications to rise over the past month. This past week, mortgage application volume was up 14.2%. However, this week the Mortgage Bankers Association (MBA) had... read more

California’s CalHFA 40 Year Fixed Mortgage

The California Housing Finance Agency known as CalHFA, has a great home loan program with their 40-year fixed mortgage. These are conventional loans that can be funded at 100% of the home’s value. These mortgages are available for both resale homes and new... read more

Mortgage Rates for Thursday January 29, 2015

The current national average for mortgage rates for this Thursday morning have dropped a bit lower. The Federal Reserve issued their economic statement yesterday, showing that the economy was in pretty good shape which caused mortgage pricing to improve. Rates are... read more

Current Mortgage Rates for Wednesday January 28, 2015

Mortgage rates for this Tuesday afternoon are still mostly stable with no changes to note. Rates are still at great lows so this stability we are seeing is good news for mortgage shoppers. The Federal Reserve said in a statement today that the economy is doing pretty... read more

Mortgage Rates for Tuesday January 27, 2015

Mortgage rates today are still running at some great lows, and the national average is mostly stable this week. New Home Sales had went up for December, which is a good sign that the market is doing well. Tomorrow’s Fed meeting will most likely have an effect on rates... read more

New Home Sales in U.S. Rise 11.6% in December

The National Association of Home Builders (NAHB) had reported today that newly built single-family homes rose 11.6% in December, according to data released by HUD and the U.S. Census Bureau. A total of 481,000 homes were sold, and the current inventory of new homes... read more

Current Mortgage Rates for Monday January 26, 2015

Current mortgage rates from the nation’s top lenders for this Monday are mostly stable. The national average for conforming and ARM loan rates also remain at all time lows. Last week rates fell for the fourth straight week, and this week I suspect more of the... read more

Know Before You Owe New Mortgage Rules

Lat week, the Consumer Financial Protection Bureau (CFPB) finalized two changes to the “Know Before You Owe” mortgage disclosure rules. The new rules address when mortgage borrowers will receive updated disclosures after locking their rates, and how consumers receive... read more

Mortgage Rates Continue to Drop – Friday January 23, 2015

The national average for both conforming fixed mortgages, and ARM loan rates for this Friday are continuing to drop. A trend that we have seen for the past several weeks, and they are currently at the lowest levels since May of last year. Freddie Mac issued their... read more

Mortgage Rates for Thursday January 22, 2015

Current conforming fixed-mortgage and ARM loan rates are slightly higher for this Thursday morning, but they are still at the lowest levels since May 2013. BankRate reported their weekly rate survey results today, showing the 30-year fixed at 3.81%; up from 3.80% last... read more

FHA Streamline Refinance With Previous Short Sale

Recently, I have received a number of calls from homeowners saying that they’ve been told they can obtain a streamline refinance 2 years after short sale. I’m going to shed some light on that subject, as we are a direct lender without any specific overlays... read more

Home Remodeling Market Set For Modest Growth in 2015

The National Association of Home Builders (NAHB) had issued a report yesterday, stating that a home remodeler panel at the International Builders’ Show (IBS) in Las Vegas, have mostly agreed that this segment of the market will see modest growth in 2015. With mortgage... read more

Mortgage Rates Remain Low for Wednesday January 21, 2015

The national average for conforming mortgage and ARM loan rates this Wednesday morning are continuing to remain low, and essentially flat for the past few weeks. The five-year bond yields which serve as a benchmark for the mortgage market are at a record low, causing... read more