Before we wallow in all the negative news about the real estate market—wondering if it’s headed for another leg of the recession or a lasting deflationary grind—let’s pause and notice that, according to the Commerce Department, sales increased by a solid 24% from May to June in California. That still leaves us with a very [...]

Rather than post economic updates this week – I figured it was best to wish everyone a Happy 4th of July!!  Be safe and have a great weekend! 

Keep an eye for the latest breaking news from Foxnews.com.  Ticker added to the bottom of all pages on this site! Enjoy!

WASHINGTON, DC–(Marketwire – June 22, 2010) –  Existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates, according to the National Association of Realtors®. Gains in the West and South were offset by a decline in the Northeast; the Midwest [...]

Re: Federal Tax Credit! Philadelphia Inquirer (06/17/10) The Senate has approved a measure extending the closing deadline from June 30 to the end of September for home buyers trying to tap a federal tax credit. The National Association of Realtors estimates that 180,000 buyers who had a contract in place by April 30 still would [...]

National preoccupation with SpillCam is a useful distraction from a slow-motion blowout in financial markets. The leak in the money well will not harm the environment, but much like the deep-water layers of oil in the Gulf, a slippery mess is uncontained. The stock market is all over the place, but not the credit markets: [...]

Today’s payroll flop — only 20,000 real jobs created in May — will take some time to settle all the way in. Immediately: 10-year T-notes are 3.22% (from 3.36% yesterday and 3.99% six weeks ago), and mortgages right at and some below 5.00%. The payroll report has confirmation: new unemployment has held high for five [...]

Congressman Rubén Hinojosa  COLLABORATES WITH  USDA TO SAVE THE  SECTION 502 SINGLE FAMILY HOUSING GUARANTEED LOAN PROGRAM Washington, DC – U.S. Rep. Rubén Hinojosa (TX-15) was informed by the United States Department of Agriculture (USDA) that Secretary Tom Vilsack has authorized the issuance of Conditional Commitments for USDA’s Section 502 Single Family Housing Guaranteed Loan [...]

What I hope to be able to accomplish with this blog is to make sure that borrowers (and Realtors) know that the loan officer is your advocate when preparing your loan for review with their underwriters and processing staff.  Loan officers have a responsibility to not only our employer but to our borrowers – a [...]

The Markets Five little “PIIGS” went for a boat ride. The weather turned very stormy and “G” got tossed overboard without a life jacket. Shortly thereafter, “P” and “S” found themselves overboard and drowning in the water, too. Unable to mount an effective rescue, the other shipmates radioed for help. Fortunately, “EU” and “IMF” were [...]