All in a Day (and Night’s) Work Ok, so there are plenty of times I wouldn’t have taken the call. Or, would have unplugged my phone, and not known about it until the next morning. But, since I’d left the other agent a voicemail regarding my client’s question around dinner time, I felt it was...Read More
Portfolio vs. Securitized Mortgages OK, so that’s not exactly how the Alexander Graham Bell quote (headline above) goes. But, it applies — sometimes — to mortgages. Specifically, there are numerous situations where what’s called a conforming, “conventional” loan — intended to be re-sold (securitized) on the secondary market — isn’t feasible, but a “portfolio” loan held by the...Read More
Halloween Scream? Not This Year After almost touching 5%(!) barely a month ago, interest rates on a 30-year mortgage for well-qualified borrowers have dropped almost a full point, to just above 4%. Jumbo loan rates are even lower. Chalk that up to 3 reasons: 1) the debt ceiling has been raised, however temporarily; 2) the...Read More
Sticking With the Bird in the Hand The reason that Buyers and Sellers typically renegotiate the price when a home appraises low is that the Seller has no guaranty that . . . it won’t happen again. Either with the same Buyer, and another lender. Or, if they scuttle the deal, with another Buyer and...Read More
