The Mortgage Note!

Have Mortgage Rates hit bottom yet?

2011-10-13T12:24:00.000-07:00

(October 13, 2011) I have a half crystal ball and a magic eight ball on my desk that I always consult when a client asks me where rates are going. Since the crystal ball is only half a crystal ball I tell my clients that it is only right 50% of the time. And since the magic eight ball will give you a different answer every time you ask it, it can’t be considered a reliable source either. The

It's less expensive to buy a home today (June 2011) than it will be tomorrow even if home prices decline further!

2011-05-24T09:59:00.000-07:00

I’ve been in the mortgage business since 1983 and I’ve never seen a better time to buy a home, rates are low and housing prices are at an all time low. So why aren’t more people buying homes? For some it is shaky job security, for others it is a lack of a job and for others it is the “let’s wait for housing prices to drop even lower” syndrome. I can completely understand those who are not

Mortgage Insurance Payments will continue to be Tax Deductable through 2011!

2010-12-21T12:26:00.001-08:00

The tax provision was included in the broad-based tax bill passed by Congress last week and signed by President Obama. Congress passed a new federal law in 2006 that made MI premiums tax-deductable (based on specific qualifying factors). Prior to this new law MI was not tax deductable. This new law only extended through 2010 and it has now been extended an additional year. The purpose for this

Sitting on the Fence CAN hurt!

2010-11-19T09:52:00.000-08:00

If you have been waiting for rates to hit the bottom you may have already have missed out! If you are still sitting on the fence you are probably experiencing some pain by now. Since most fences are both thin and uncomfortable to sit on and some even have barbed or jagged or shaped edges spending a lot of time sitting can really hurt! The new QE2 program recently announced by the Federal

How low will MORTGAGE rates go?

2010-10-15T08:58:00.000-07:00

Ok, the truth is that my crystal ball is hazy and isn’t giving me a clear reading on the bottom for mortgage rates. Over the last three months I’ve been advising my clients to lock in because I can’t imagine that rates could possibly go any lower. But in the last three weeks we’ve seen another gradual drop. I have a paper weight on my desk that looks like half of a crystal ball so I jokingly tell

Are Mortgage Rates REALLY this low? 3.75% FIXED!

2010-08-03T08:45:00.000-07:00

I have been in the mortgage business nearly 28 years and I have NEVER seen mortgage rates this low. As of today's posting (8-3-10) Goldenwest Credit Union is offering a 15 year fixed rate at 3.75% and a 30 year fixed rate at 4.375%. How can rates be this low when everyone one was expecting rates in the high fives's and sixes? Here is my take: Just over a month ago Greece made the announcement

Kaysville Branch NOW OPEN!

2010-07-01T17:36:00.000-07:00

WOW! Wednesday June 30th, 2011 was the grand opening of our new Kaysville branch. We had an incredible turn-out with over 100 people at the ribbon cutting ceremony and over 225 kids from the Davis High School marching band! During the day well over 250 people enjoyed hot dogs and soda pop! All NEW CHECKING ACCOUNTS will receive ONE Lagoon day pass! Below is an article that appeared in the

New Income Guidelines may reduce income

2010-04-27T12:13:00.000-07:00

Be prepared to provide more documentation than ever before. Lenders have been very squeamish over the last two years with the housing melt down. Along with their hesitation to originate new loans the government has continued to squeeze the industry with tougher guidelines. This means more documentation from borrowers. Remember the time when if you had a good FICO credit score in the mid 700's

Uncle Sam is about to stop waiving money at perspective home buyers!

2010-04-21T09:17:00.000-07:00

April 30 draws near and the FED’s First Time Home Buyer tax credit of $8,000 is coming to an end. Did you take advantage of it? How about the $6,500 tax credit for those of you who have owned a home for five of the last eight years? Did you take advantage of that? I have not seen any official government reports on the total amount of home buyers who took advantage of these programs but I suspect

Greenspan: Subprime loans did not cause crisis - MarketWatch

2010-04-07T15:56:00.001-07:00

Greenspan: Subprime loans did not cause crisis - MarketWatchPosted using ShareThis

Mortgage Rates will GO UP SOON and New Home buyer TAX REBATE money coming to an end!

2010-03-02T15:17:00.000-08:00

False Illusions and What You Need to Know Homebuyer Alert… For prospective homebuyers who are on the fence about making a home purchase, the next few months represent a countdown of sorts for two reasons. The first of these, the coming expiration of huge tax incentives, may be a bit more obvious to most borrowers. April 30, 2010 is the last day to enter into a home purchase contract and still

Barnes Bank fails after 118 years--Goldenwest Credit Union offers hope to former bank customers

2010-01-28T22:32:00.000-08:00

At 4:50 pm Friday January 15th the Utah Department of Financial institutions in cooperation with the FDIC took over Kaysville based Barnes Bank bringing the end to one of the oldest community banks in Utah. Saturday morning was the beginning of confusion, frustration and tears of many long-time customers of the bank who flocked the parking lot of the main branch in hopes of getting their

Should you get your home loan from a Mortgage Broker or a Lender?

2009-11-18T20:41:00.000-08:00