Brett Brough's (bbrough) Blog

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Mortgage and Lending - Cityscape Home Mortgage
RECENT BLOG POSTS
So what about that housing thing?  Well now you can find out.  Thus, no matter how trivial, important, or obscure the American Housing Survey covers it.  Like this, "I can't live without knowing, -" why a government researcher would inquire whether a home's toilet was inoperable for six hours or ...
10/15/2008
Here we are again at the top of the list.  The Office of Federal Housing Oversight (OFHEO) has placed Oklahoma at the top of the list in home price appreciation through the second quarter of this year according to OFHEO's seasonally-adjusted purchase-only house price index.  The index, which is b...
08/28/2008
Here's another example of how issues in other parts of the country are effecting us in Tulsa. Fannie Mae, August 1, 2008 adjusted their investor rules. On investment properties, Fannie now will require 30% equity on the existing property for the investor to claim up to 75% of the rental income as...
08/23/2008
Misguided "Solutions"Threaten Home Ownership Although H.R. 3221 was intended to "rescue" the housing industry, the elimination of downpayment assistance (DPA) programs beginning October 1st will have the opposite effect, pulling the American Dream out of reach of hard-working, credit-worthy Ameri...
08/13/2008
Why might you need an appraisal? How do appraisals work?In many cases, lenders need a professional, independent appraisal of the property you want to buy or refinance to ensure that it is worth at least as much as they are being asked to lend on it. If you are making a smaller down payment and ha...
03/13/2008
The Greater Tulsa Association of Realtors has announced the median home price rose 7.25% to $102,432 in 2007.   According to Doug Horton, the president of the Northeast Oklahoma Real Estates Services, (the multiple listing service which comples sales data)  said the measure (using the median) is ...
01/10/2008
Brett's 2008 Forecast ! Well, now that 2008 is here I thought it might be time for a look at 2008 and what I think is likely.  First for many people in the real estate industry 2007 was a difficult if not frightening year.   I am fortunate to say it was challenging but good year for me.  While ma...
01/05/2008
The Federal Reserve Board's Open Market Committee lowered two key rates today.  The Fed Funds Rate and the Discount window rate by 1/2 percent.   This should create some easing of mortgage rates.  Thus far even without the action by the federal reserve mortgage rates have been declining into this...
09/18/2007
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There are many things mixing in the Tulsa market.  Interestingly Tulsa ranks high in the nation right now as a market where real estate is appreciating.  The interesting point is that we're still meeting our average appreciation of the last few years, but it makes us tops in the nation.  This is ...
05/02/2007
There is a proper time and circumstance to use and adjustable rate mortgage.  Typically an adjustable rate mortgage provides the lowest rate for a given buyer.  In the last 5 years rates on adjustable rate mortgages (ARMs) were so attractive that many people opted for their use.  Now that the Fed...
08/11/2006
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