At some point in their lives, every home buyer in America has wondered “Is now the best time to buy a home?” In this 3-minute video, NBC’s The Today Show does a good job of answering the question. The conclusion? Yes, but not if you’re going to overpay. The Buyers Market is ending, we learn, [...]

Some days, newspaper headlines are a terrible place to get your real estate news. Today is one of those days. After the September New Home Sales report showed sales volume down from August, the mainstream media jumped on the story: New Home Sales fall a surprising 3.6% Surprise Drop In New Home Sales Stocks slide as New Home [...]

For August, the Case-Shiller Index showed annual home values improving across 19 of 20 U.S. markets. It’s the first time in 3-plus years that the benchmark housing index has shown such strength. According to a Case-Shiller Index spokesperson, “The rate of annual decline in home price values continues to improve.” It’s yet another sign that [...]

The national housing supply fell to a 2-year low last month, according to the National Association of Realtors®. At the current sales pace, existing home inventories would sell out in 7.8 months — 30 percent faster versus November 2008. For a 10-month window, that’s a major housing supply reduction and it helps to explain why [...]

Mortgage markets were volatile last week, making it very difficult to shop for mortgage rates. On most days, lenders issued multiple rate sheets with the trend putting rates higher in the morning, and lower in the afternoon. Overall, mortgage rates were unchanged on the week. It broke a three-week streak through which mortgage rates rose. [...]

According to the government, home values edged lower last month. The Federal Housing Finance Agency’s Home Price Index report shows values down by 0.3 percent from the month prior – the index’s first down month since April. The Home Price Index is based on the value of homes financed via Fannie Mae or Freddie Mac and, in this sense, [...]

With crude oil at its highest levels since October 2008, retail gas is up 8 cents per gallon this week. It’s bad news for home buyers and mortgage rate shoppers.  The same force that’s driving oil higher is linked to rising mortgage rates. We’re talking about the weakening U.S. Dollar which is now at its worst levels [...]

The new Good Faith Estimate makes its debut January 1, 2010. Expanded from 1page to 3, the legislators responsible for the new Good Faith Estimate want it to be simpler for homeowners and home buyers to understand than the former version. By most accounts, Congress will meet this goal. The new Good Faith Estimate includes plain-English [...]

Okay, I am no Doctor, I don’t even play one on TV… but what I do know is that what people care about is useful information online, and that is what Orlando Mortgage Chili Blog is all about. So – here it goes. I encourage you to do your own research as well – even [...]

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 [...]