Category Archives: Lending

Average mortgage amount increases

Posted on April 12, 2012 by Guy Johnson

In a report released yesterday by Capital Economics analysts reported that the average loan amount lenders issued to borrowers in the past three months grew by $20,000, suggesting an early sign that buyer confidence is improving across the country. See … Continue reading →

Posted in Agent Insights, Lending | 1 Comment

Understanding your FICO score

Posted on April 11, 2012 by Guy Johnson

Thank you to Lisa Fleck of Summit Funding for providing this informative piece explaining the components of one’s credit score and the impact of various activities on the FICO score. Click on the graphic to enlarge

Posted in Lending | Tagged | Leave a comment

Prospective FHA borrowers, you have one month remaining…

Posted on March 1, 2012 by Guy Johnson

…before the higher mortgage insurance premiums kick in. I’ve been alerted by multiple lenders this week regarding the new FHA mortgage insurance premiums set to become effective April 1. For loans under $625,000 FHA will increase its annual mortgage insurance … Continue reading →

Posted in Lending | Tagged , | 4 Comments

Cash is King – more than ever

Posted on February 21, 2012 by Guy Johnson

More properties were purchased for cash in 2011 than in any previous year. Of the 7,233 MLS-reported sales (all property types) in the Reno and Sparks markets 2,517, or nearly 35% were purchased for cash. If we restrict the analysis … Continue reading →

Posted in Agent Insights, Lending | Tagged , | 15 Comments

How low can they go? …Interest rates that is

Posted on February 17, 2012 by Guy Johnson

Just received this telling (and colorful) chart from one of my colleagues in the lending arena. The chart show average interest rates on 30-year fixed Freddie Mac mortgages over the past thirty years. We constantly hear about “historical lows” with … Continue reading →

Posted in Lending | Tagged , , | 12 Comments

Fed to keep rates low, and other news items

Posted on January 26, 2012 by Guy Johnson

Lots of news impacting the real estate industry this week… The Federal Reserve announced that they expect to keep short-term interest rates near zero for the next three years — citing the economy and the housing market still needing help. … Continue reading →

Posted in Lending, News | Leave a comment

Home loan costs to increase

Posted on January 16, 2012 by Guy Johnson

[Ed. Note -- I received the email below from one of my colleagues in the lending arena; Lisa Fleck of Summit Funding. Lisa sends me news from time to time pertaining to home loans and financing. In her post below … Continue reading →

Posted in Lending, News | Tagged | 1 Comment

Did house flippers cause the recession?

Posted on December 13, 2011 by Guy Johnson

A new report from the Federal Reserve Bank of New York shows that house flipping played a larger role in the housing bubble than originally thought and is largely to blame for the recession. See this msnbc.com story: Flippers’ housing … Continue reading →

Posted in Foreclosures, Lending, News | 38 Comments