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Let MCB Mortgage Help you or your company with all your mortgage needs.MCB Mortgage, Inc. specializes in Secondary Marketing & Managed Broker Programs for Banks and Credit Unions.


Wednesday, May 31, 2006

Is Time On Your Side?

As the old song goes Time is on the Borrowers side with the big changes in the Real Estate market. There is a huge amount of homes on the market in many area causing it to become a buyers market again. Make a offer and do not be surprised if it is accepted with all the competition out there. Rates are still very low and if you can save thousands of dollars on that new home it will help keep that payment down. If you have good credit and 5% to put down do not take a higher rate than shown here. You may even be able to work .125% lower if your loan amount is large. Do not pay high fees. The Mortgage business and the Real estate business are tied directly together. Keep your credit scores up and remember right now:"Time is On Your Side!"

Thursday, May 25, 2006

Is there DANGER in the Mortgage Waters Ahead ?

There are a few sharks swimming in the Mortgage waters. According to researchers here are some figures: 50% of all mortgages are now 3 Years old or less. 50% of all mortgages in 2004-2005 were Arms. 43% of the Mortgages were with NO MONEY DOWN ! 10 Trillion Dollars worth of Mortgages were done in 2002-2004. What this mean to you as a borrower or home owner is there is trouble ahead for many borrowers. As the housing market cools down and prices stop jumping up in double digits and go back to normal (3-4% per year) many borrowers will be facing problems when their Arms adjust after 3-5 Years. It could be harder to refi if there is not as much equity built up and you run into any financial problems. Some are starting to come due now with a 2% jump on Interest Rates. We are also starting to see more Mortgage Fraud in the Industry. We still advise getting your credit score up and saving for at least a 5% down payment. Have you been working on those credit scores? If you are working on your credit you need to stay on top of it by checking it at My Fico.Com or Equifax. It can make your future a lot more trouble free. www.rateinformer.com

Wednesday, May 24, 2006

Is everyone a Real Estate Guru?

A few years back it seemed as if everyone was a stock market genius. You could do no wrong or make no bad investment. All you had to do is count your money. THEN the big stock market bomb hit. It now appears to be much the same except for substituting the name to Real Estate. Many people now have more real estate than cars! It is being touted as a sure win deal. The reality is it can and will damage the financial affairs of a lot of borrowers when given enough time. Prices can only go up as fast as they have for a period of time. Then the law of supply and demand come into play. Many of the home purchases have been only for investor use not to live in. When these homes come on the market for REAL borrowers it saturates the housing market as is being seen in many areas of the country right now. A sure sign of problems is when everyone else is doing the same thing in regards to investments. Be careful, be smart and beware of the real estate problems coming up on the horizon. If you are looking for a home to live in the saturation of listings coming on the market in areas will be to your benefit. Keep your credit scores up and save for at least a 5% down payment and it will work out good for you. We love the program at Emigrant Direct. It pays 4.5% and moves up as rates go up. You can cut corners and go on a budget and make it happen. Have you been working on those credit scores? If you are working on your credit you need to stay on top of it by checking it at My Fico.Com or Equifax. Then that new home will really be a blessing you will truly enjoy.

Is everyone a Real Estate Guru?

A few years back it seemed as if everyone was a stock market genius. You could do no wrong or make no bad investment. All you had to do is count your money. THEN the big stock market bomb hit. It now appears to be much the same except for substituting the name to Real Estate. Many people now have more real estate than cars! It is being touted as a sure win deal. The reality is it can and will damage the financial affairs of a lot of borrowers when given enough time. Prices can only go up as fast as they have for a period of time. Then the law of supply and demand come into play. Many of the home purchases have been only for investor use not to live in. When these homes come on the market for REAL borrowers it saturates the housing market as is being seen in many areas of the country right now. A sure sign of problems is when everyone else is doing the same thing in regards to investments. Be careful, be smart and beware of the real estate problems coming up on the horizon. If you are looking for a home to live in the saturation of listings coming on the market in areas will be to your benefit. Keep your credit scores up and save for at least a 5% down payment and it will work out good for you. We love the program at Emigrant Direct. It pays 4.5% and moves up as rates go up. You can cut corners and go on a budget and make it happen. Have you been working on those credit scores? If you are working on your credit you need to stay on top of it by checking it at My Fico.Com or Equifax. Then that new home will really be a blessing you will truly enjoy.

Friday, May 19, 2006

A Lot of Rate Movements But No Changes In Mortgage Rates

Our Mortgage rates have stayed the same for the last 2 weeks even with the Fed hike. Bonds and Securities have been moving all around but end up back where they started. This is very good news for Borrowers as it gives you more time to look around and make wise decisions on your purchase and shop for the best rates and fees. Home prices have been holding steady and in some areas are still coming down. Do not ever be afraid to make a offer even if it appears to be too low. A lot of the homes are really overpriced and have room for pricing. We must give you a little advance warning though that rates are going to pop up sooner or later by about .25-.375% as the banks begin to offer higher yields on accounts because of the Feds move. As of now there is now place to go but up so enjoy the breathing room while it is there.

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