Four major Texas metros were ranked among the least likely in the country to experience home-price depreciation in the next two years, all with less than a 1 percent chance.
On the list of 50 major U.S. metro areas, San Antonio placed fifth from the bottom with a 3.95 volatility rate and a 4.02 price appreciation in the second quarter of 2008.
Ranking third from last was Houston-Sugar Land-Baytown, which had a 1.74 volatility rate and a 4.44 price appreciation.
Dallas-Plano-Irving came in second to last, showing a 0.93 volatility rate and a price appreciation of 2.06.
Fort Worth-Arlington came out best with a 0.89 volatility rate and a 3.07 price appreciation.
All Texas MSAs had less than a 10 percent chance of prices decreasing in the next two years.
Monday, November 24, 2008
Friday, November 21, 2008
Service First Mortgage
Despite the media’s grim outlook, Service First Mortgage still has MONEY to lend. Give me a call about our 100% LTV loan products. Interest rates are still low, so now is a great time to buy the home of your dreams.
Office 817-447-7300
Cell 817-233-9226
Website www.lisakeese.com
Office 817-447-7300
Cell 817-233-9226
Website www.lisakeese.com
Monday, November 17, 2008
Rescue Plan Changes Direction
For mortgage markets, the biggest news of the week came from Treasury Secretary Paulson during an update on the $700 billion TARP rescue plan. Paulson surprised investors with the news that the Treasury has scrapped the original plan to purchase troubled assets from banks and will use the funds in other ways to support the still "fragile" financial system. Lawmakers and investors were provided few details about the anticipated future use of the funds, and this abrupt shift in plans added to the uncertainty confronting investors in recent weeks.
While mortgage rates ended the week nearly unchanged from the prior week, daily volatility remained high. During October and November, movements in mortgage rates have been much larger than usual, primarily due to the high degree of uncertainty facing investors. Will there be a second major government stimulus package and what form will it take? What will be the impact of the extra debt issued to fund the government programs? Will other countries such as China have less money available to invest in US bonds, including mortgage backed securities, while they stimulate their own economies? Finally, how will the Treasury use the remaining funds from the $700 TARP rescue plan (discussed above)? Once investors have answers to these and other questions, we should see less volatility in mortgage rates.
To view this article online, click here.
While mortgage rates ended the week nearly unchanged from the prior week, daily volatility remained high. During October and November, movements in mortgage rates have been much larger than usual, primarily due to the high degree of uncertainty facing investors. Will there be a second major government stimulus package and what form will it take? What will be the impact of the extra debt issued to fund the government programs? Will other countries such as China have less money available to invest in US bonds, including mortgage backed securities, while they stimulate their own economies? Finally, how will the Treasury use the remaining funds from the $700 TARP rescue plan (discussed above)? Once investors have answers to these and other questions, we should see less volatility in mortgage rates.
To view this article online, click here.
Friday, November 14, 2008
How to Save Your Retirement
(Money Magazine) -- Without a doubt, the past few months have ranked as the most tumultuous - and scariest - times that I've seen in the more than 20 years I've been at Money magazine. We've witnessed events that up to now had been almost unimaginable: the stock market fluctuating wildly and governments around the globe taking extraordinary steps to unlock frozen credit markets. And it's still unclear when the economy and the markets will hit bottom.
Given the unprecedented level of fear and uncertainty, it's no surprise that readers of my Long View column in Money and my Ask the Expert column on CNNMoney.com have inundated me with retirement planning questions. These five common ones cover your biggest concerns.
Should I put less money into my 401(k)?
Q. I am contributing 15% of my salary to my 401(k). With the crisis taking a toll on the stock market, would it be a good idea to reduce my contribution to 10% and place the additional 5% somewhere else? --Verona, Savannah, Ga.
A. I can understand why you're tempted to scale back. But reducing your 401(k) contributions now would be a mistake. Click here to view the rest of the article.
Given the unprecedented level of fear and uncertainty, it's no surprise that readers of my Long View column in Money and my Ask the Expert column on CNNMoney.com have inundated me with retirement planning questions. These five common ones cover your biggest concerns.
Should I put less money into my 401(k)?
Q. I am contributing 15% of my salary to my 401(k). With the crisis taking a toll on the stock market, would it be a good idea to reduce my contribution to 10% and place the additional 5% somewhere else? --Verona, Savannah, Ga.
A. I can understand why you're tempted to scale back. But reducing your 401(k) contributions now would be a mistake. Click here to view the rest of the article.
Monday, November 10, 2008
JP Morgan to Revise Loans
JPMorgan will modify mortgages
In an effort to avoid foreclosures on $70B worth of loans, the bank will review each mortgage, including those from WaMu and EMC.
NEW YORK (AP) -- JPMorgan Chase & Co. said Friday it is expanding its program to modify mortgages in an effort to avoid foreclosures on up to $70 billion in loans.
The enhanced program will include the opening of 24 regional counseling centers, the hiring of 300 additional loan counselors, new financing alternatives, reaching out to borrowers with pre-qualified modification terms and a new process to independently review each loan before it is moved into foreclosure.
Chase said the changes are expected to be implemented in the next 90 days, and until those changes can be made, it will not put any loans into foreclosure.
The loan-modification program will also be offered to customers with loans held by Washington Mutual Inc. and EMC. JPMorgan (JPM, Fortune 500) acquired Washington Mutual last month after the bank became the largest in the nation's history to fail. EMC was a mortgage unit of Bear Stearns Cos., which JPMorgan acquired in February.
When JPMorgan acquired Washington Mutual and EMC, it also acquired portfolios of mortgages that included option adjustable-rate mortgages. Option ARMs allow customers to choose from multiple payment options each month, including paying less than the interest owed on the loan, thereby increasing the balance on the loan. JPMorgan said modifications for those loans would eliminate the monthly options and not allow for the minimum payments.
View the rest of the article by clicking here.
In an effort to avoid foreclosures on $70B worth of loans, the bank will review each mortgage, including those from WaMu and EMC.
NEW YORK (AP) -- JPMorgan Chase & Co. said Friday it is expanding its program to modify mortgages in an effort to avoid foreclosures on up to $70 billion in loans.
The enhanced program will include the opening of 24 regional counseling centers, the hiring of 300 additional loan counselors, new financing alternatives, reaching out to borrowers with pre-qualified modification terms and a new process to independently review each loan before it is moved into foreclosure.
Chase said the changes are expected to be implemented in the next 90 days, and until those changes can be made, it will not put any loans into foreclosure.
The loan-modification program will also be offered to customers with loans held by Washington Mutual Inc. and EMC. JPMorgan (JPM, Fortune 500) acquired Washington Mutual last month after the bank became the largest in the nation's history to fail. EMC was a mortgage unit of Bear Stearns Cos., which JPMorgan acquired in February.
When JPMorgan acquired Washington Mutual and EMC, it also acquired portfolios of mortgages that included option adjustable-rate mortgages. Option ARMs allow customers to choose from multiple payment options each month, including paying less than the interest owed on the loan, thereby increasing the balance on the loan. JPMorgan said modifications for those loans would eliminate the monthly options and not allow for the minimum payments.
View the rest of the article by clicking here.
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