Mortgage Market

Inman News headline yesterday read:  "Upbeat Fed talk pulls mortgage rates down"

"Although 30-year mortgage rates are about three-fourths of a percentage point higher than they were last year, it's good to keep in mind that rates have dropped from the high of 6.8 percent reached just eight weeks ago," said Frank Nothaft, Freddie Mac vice president and chief economist. "And with short-term interest-rate increases seemingly on hold, for a while at least, interest rates overall should not experience any big shifts in either direction."

Where are interest rates this week?  Any interesting news in the financial market?  Any new loan programs with your company?

c. 2006 Columbus Best Blog and Maureen McCabe

Central Ohio Mortgage Info

Central Ohio mortgage lenders what are interest rates like this week?  Anything excting going on in the mortgage market?

What's happening in the mortgage market this week? Are buyers using fixed rate financing now?  Or are buyers still using adjustable rates? 

Rismedia had an article this week about homeowners in trouble because of ARMs.

Suggestions include: 

"Get counseling. If you are unable or unwilling to work with your lender, third-party foreclosure prevention counseling can help you create a plan to help resolve your financial problems. Look for a nonprofit counseling agency that offers all of their services at no cost--not just a one-time free consultation. For example, the Homeownership Preservation Foundation offers free, HUD-certified foreclosure prevention counseling toll-free at (888) 995-HOPE or online at www.995HOPE.org. "

(888) 995-HOPE offers help to homeowners with ARM loans. 

I had an earlier blog entry that said Ohioans were calling a phone number... better response in Ohio than elsewhere.  Same number. 

c. 2006 Columbus Best Blog and Maureen McCabe