Mortgage Confusion?

In one of the publications we receive, intended for mortgage brokers, and designed to present the wares of wholesale lenders plus "informative" articles and editorials, the conflicting information boggles the mind. Within a single column, which cites various sources, the information points to dramatically different conclusions, and sometimes there is conflict within a single source. Case in point. The Mortgage Bankers Association reports that foreclosures hit another record, "perhaps their peak", yet conclude that "If mortgage delinquencies are not yet clearly improving, it also appears they are not getting worse". In the same column it's reported that home sales in April increased "across the board", a result of the tax credit, so not a reliable statistic, just accelerating future sales. At the same time the Case-Shiller Home Price Index reported a 3.2% drop in home prices in major markets in the first quarter. Also at the same time it is widely reported that Jumbo Loans are becoming easier to finance, of interest to a very small segment of the population, yet unreported is the increasing difficulty of obtaining a conventional loan, those financed under Fannie/Freddie guidelines, which affects most of the population. As you probably know, Fannie and Freddie have been forced to de-list their stock from the major exchanges because of too low valuation. It is estimated by some that the ultimate cost to taxpayers of the mismanagement of those institutions is likely to exceed ONE TRILLION dollars, a real tribute to the leadership abilities of Frank and Dodd and other Congressmen. Trying to understand the marketplace is keeping many good people awake at night. Possibly after November some sense of order will be restored.
We have hired as captain of our ship of state an individual with no clear idea of our destination, no clear idea of how to reach it, no ability to hire crew members with any knowledge of the functioning of the system, and an inability to make the simplest decisions, unless we include choosing a tee time. HERE is an article of interest about why we're where we are.

Our office can still arrange financing or refinancing for you, and at rates that are the lowest in years. Call and let us compete for your business.
As usual,
Thanks for visiting.