Mortgage markets were extremely volatile last week, carving out a wide range between Monday and Friday. Thankfully for rate shoppers, the overall momentum was positive. Mortgage rates fell for the second time in as many weeks. Rates still sit higher versus their early-October lows. For pure “news”, last week was a busy one: The Federal Reserve [...]

UPDATED – November 7th, 2009 **It is LAW – signed by Obama on Friday**! The Florida First-Time Home buyer Tax Credit may soon be known as the Home Buyer Tax Credit… being opened to non-first time buyers for the first time. As you have likely already read on My FHA Mortgage Blog – the Florida [...]

Congress both extended and expanded the First-Time Home Buyer Tax Credit program Thursday. The White House says the President will sign it into law today. The up-to-$8000 tax credit’s expiration date has been pushed forward to spring, requiring homebuyers to be under contract by April 30, 2010, and to be closed by June 30, 2010. The program’s [...]

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy “has continued to pick up” since the September FOMC meeting and that housing market activity has increased. It’s the third consecutive post-FOMC statement in which [...]

The Federal Open Market Committee caps off a scheduled, 2-day meeting today in the nation’s capital, its 8th meeting of the year. The group adjourns at 2:15 PM ET and, as is customary, will issue a press release reviewing its monetary policy and the health of the U.S. economy. The FOMC’s post-meeting statements are brief but comprehensive. They’re a window into [...]

The housing market continues to steam forward. As reported by the National Association of Realtors®, the Pending Home Sales Index posted its 8th consecutive monthly gain in September. It’s the longest winning streak in the history of the index and Pending Home Sales are now at their highest levels since December 2006. A Pending Home [...]

Mortgage markets improved last week after a series of hugely volatile trading sessions. Rates carved out a wide range on the week, culminating in a late-Friday plunge that dropped rates by about 1/8 percent. It was the first time in 5 weeks that mortgage rates fell. Volatility like that of last week is nothing new [...]