Tag Archives: jumbo mortgages

U.S. Slowly Pulls Back From Mortgage Market

In 2008, the United States federal government essentially nationalized the mortgage market. Now Uncle Sam is erratically but surely pulling back. For the past three years, Fannie Mae and Freddie Mac have bought home loans up to $720,000. Now they’ve … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on U.S. Slowly Pulls Back From Mortgage Market

Reducing The Size Of Federally Guaranteed Loans

Awkwardly and inconsistently, the federal government is reducing its role in the mortgage market. This will make some traditional mortgages, particularly jumbo mortgages, impossible to obtain. It will make the remaining mortgages more expensive and more demanding to obtain. Overall, … Continue reading

Posted in Banks, mortgage, Politics, Rates | Tagged , , , , , | Comments Off on Reducing The Size Of Federally Guaranteed Loans

Are Private Markets Interested In Extending Jumbo Loans?

The federal government is slowly retreating from the mortgage market. On October 1, Fannie Mae and Freddie Mac will no longer buy such large jumbo mortgages. Currently, nine out of ten new mortgages, is backed by the federal government. Liberals … Continue reading

Posted in Banks, fannie mae, freddie mac, mortgage | Tagged , , , , , | Comments Off on Are Private Markets Interested In Extending Jumbo Loans?

Banks Ease Rules On Jumbo Mortgages

The Obama administration has some free-market tendencies. It is reducing the size of jumbo mortgages that Fannie Mae and Freddie Mac will buy. This primarily effects homes in coastal California, where the cost of land is significantly more expensive than … Continue reading

Posted in mortgage, Politics | Tagged , , , , , | Comments Off on Banks Ease Rules On Jumbo Mortgages

Little Market Demand For Mortgage-Backed Securities

Would you buy bonds backed by mortgages? How secure will such bonds be if home prices fall another 10%? Or 20%? That’s the big reason why there’s not much market appetite for buying mortgage-backed bonds. Jumbo mortgages loans are particularly … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Little Market Demand For Mortgage-Backed Securities

Federal Government Retreats From The Mortgage Market

The first practical sign of this retreat will be a reduction in the size of mortgages that Fannie Mae and Freddie Mac will buy. This will make jumbo mortgages more difficult to obtain and presumably slow their turnover in the … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Federal Government Retreats From The Mortgage Market

Who Profits From Jumbo Mortgages?

Fannie Mae and Freddie Mac are no longer buying jumbo mortgages. The private market can’t compete with Fannie and Freddie, which are owned by the US government and get lower-interest loans. Now that the government is getting out of the … Continue reading

Posted in Banks, mortgage | Tagged , , , , , | Comments Off on Who Profits From Jumbo Mortgages?

The Limited Mortgage Market For Jumbo Loans

Any mortgage over $417,000 is considered a jumbo. Market conditions are running against such loans. This old man is staring bankruptcy and foreclosure in the face. Here’s advice: One problem is that your mortgage is a jumbo loan, and the … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on The Limited Mortgage Market For Jumbo Loans

Refinance & Interest Rates

How does the government takeover of Fannie Mae and Freddie Mac affect mortgage rates? Rates for 30-year fixed mortgages fell immediately after the announcement of the takeover. “The 30-year conforming rate dropped from 6.25% to 6% on Monday morning and … Continue reading

Posted in Rates | Tagged , , , , , | Comments Off on Refinance & Interest Rates

Sellers Offering Mortgage

From the New York Times: AT the Fitzgerald, a new condominium development carved out of a prewar warehouse on West 117th Street in Harlem, sales have been steady but slow, with some would-be buyers worried about getting the jumbo mortgages … Continue reading

Posted in mortgage | Tagged , , , , , | Comments Off on Sellers Offering Mortgage