Mark Towler's (mtowler) Blog

It will be interesting to see where interest rates head this week. They had an upward rise late last week. The Fed raising rates does not directly have an effect on mortgage rates; however, most people think it does. The prime rate on a HELOC is the only rate that reflects the Fed raising the fed...

As my long time employer decided to close after being in business since 1993; I had to decide what direction to take in finding a new employer. I ruled out being a broker again, I believe the government wants to eliminate mortgage brokers and they are doing a pretty good job of it. I really don't...

Mortgage rates went up slightly today. They moved to 4.875% on a conventional 30 yr fixed and to 5.00% on an FHA 30 yr fixed rate loan. The jobs report was better than expected and the yield on the 10 yr T-Bill also rose over 1%. Overall this will not make a difference on housing affordability. H...

Well it does get a few mentions but not like I thought it would. As we might or might not know, the Fed is going to stop buying mortgage backed securities at the end of March. They could extend that date but most likely they will not. What does this mean? Well it means that the really great rates...

With the changing times, laws, markets, etc., it is hard to figure out what to do if you are in the mortgage business. I am currently a mortgage broker. The government seems intent on blaming the mortgage crisis on brokers and then passing laws to run them out of business. So much for us honest f...

Warning...non real estate analogy in use here. Move on if you want real estate only. We had my 7th graders parent teacher conference yesterday. For the first time ever the student led the conference. My wife and I were leery. It turned out to be the best conference ever. She took responsibility f...

My take on the new FHA guidelines... I don't think the higher upfront MIP will be that big of a deal. It is only $724 more on a sales price of $150,000. Not much change in the monthly payment. I also don't think the 580 credit score is that big of a deal. I don't know of any lenders who would do ...

Listened in on another webinar about the new RESPA rules today. Just when I think I have it figured out, I hear something that makes me say ugh. The new GFE is really a piece of work but we just have to work with what the politicians give us. It will all work out though. For all of you realtors a...