C21AGVoices

As household budgets get pinched and credit markets tighten, a growing number of Americans are making “hardship withdrawals” from their 401(k) plans. One major fund group cites a 15 percent increase in activity from this time last year for various reasons including staving off foreclosure and medical emergency. However, 401(k) loans should only be made with careful […]

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Monday, the Dow Jones Industrial Average closed below the psychologically-important 10,000 level for the first time since 2004. Despite the milestone-marker breach, however, there was a large group of Americans with reason to cheer.  As stocks sold off, mortgage markets rallied to the benefit of home buyers everywhere. Conforming mortgages rates improved yesterday. Most interesting […]

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Monday afternoon, the U.S. House of Representatives defeated the $700 billion “Bailout Bill”, surprising Wall Street and the world.  The Dow Jones Industrial Average responded by falling 777.68 points — its largest one-day loss in history and, this morning, every newspaper in America is covering the story as front page news.  Lost in the coverage, however, […]

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Earlier this year — and for the first time in its history — the FHA changed its funding fees and mortgage insurance structure. Effective October 1, 2008, it’s repealing those changes. Partly to keep FHA home loans affordable, and partly to comply with new laws, the FHA is rolling back its up-front fees and ongoing mortgage […]

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Thursday, federal regulators seized mortgage lender Washington Mutual.   The Seattle-based thrift became the third “big name” lender to close its doors since July, joining IndyMac and Lehman Brothers. In 2007, these 3 lenders represented about 10 percent of the mortgage market and their subsequent failures are confusing American homeowners. The most prevalent question: If my mortgage lender […]

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In August, home builders broke ground on the fewest number of homes since January 1991.  It was the 16th straight month in which Housing Starts declined. But, although the press labels these statistics indicative of a recession, home sellers nationwide quietly applaud them. With fewer new homes coming on the market, home sellers are finding that there’s […]

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On all principal + interest home loans, the first few years of payments include a lot more money going to interest than to principal.  This is because mortgage repayment schedules are front-loaded with interest, meaning large-volume principal reduction won’t occur until late in the mortgage’s lifecycle. Comparing products at a 6% mortgage rate, did you know […]

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This article by Elizabeth Razzi appeared in the Washington Post on 09/07/08. If you have been considering purchasing a home but have been hesitant due to the negative national press on home sales, you may want to consider stepping up your search efforts. Why This Autumn is a Great Time to Buy This fall could […]

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Sunday, the U.S. government assumed control of Fannie Mae and Freddie Mac. The papers have done a terrific job talking about the political perspective of the takeover, and the economic perspective of the takeover, but very few people have addressed the key news for homeowners. Mortgage rates are plummeting. The reason why mortgage rates are falling […]

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On the first Friday of every month, the government releases its Non-Farm Payrolls report. More commonly called the “jobs report”, the two-page analysis examines the nooks and crannies of the U.S. economy to see which industries are hiring and which are firing. The August jobs report was released yesterday morning and it shows that the […]

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