As we head into the last day of trading in 2006, there are a lot of market players that have already left for the long weekend. That's good for them, but rough for everyone else left behind. With so many traders on vacation this week, there are fewer buyers and fewer sellers at any given [...]

Yesterday's New Home Sales report revealed the following signs of immense strength in the housing sector and mortgage rates are moving higher on the news. Sales registered 1.047 million versus the expectation of 1.015 million — a difference of 3.15%. Sales were revised higher by 46,000 over the past three months. Inventory levels dropped to [...]

Did you know: After 30 years, a 30-year mortgage term is paid in full. After 30 years, a 40-year mortgage term has 57% of the original borrowed amount remaining. After 30 years, a 50-year mortgage term has 81% of the original borrowed amount remaining. Of course, it’s not all bad for the holders of longer-term [...]

With many traders on vacation this week, the impact of economic reports on mortgage rates will be amplified. Specifically, be wary of this week’s New Home Sales and Existing Homes Sales reports. Since July, the Fed has repeatedly told us that housing will lead to an economic slowdown. As a result, markets have placed housing [...]