Scott Fowler's (sfowler) Blog

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Mortgage and Lending - Guaranteed Rate (NMLS ID #2611) - NMLS ID #107432
RECENT BLOG POSTS
As flood waters ran through Iowa and other Midwestern states, the nation's corn supply was thought to be in danger. Prices spiked in the wake of the floods, adding to the already-peaking grocery bills that many Americans are now bearing. But yesterday, in a surprise report, the Agriculture Depar...
07/01/2008
Mortgage rates improved last week, marking the first time since mid-May that has happened.  The rate drop is the result of how mortgage markets interpreted the Federal Reserve's Wednesday press release. In it, the Fed said: Inflation pressures should lessen soon Growth should remain steady this y...
06/30/2008
A Home Equity Line of Credit is bank product that grants homeowners access to the equity in their home at anytime, usually using checks. Often called a HELOC, these equity-based credit lines function very much like credit cards: The rate is adjustable, tied to Prime Rate There is a minimum monthl...
06/27/2008
The Federal Open Market Committee left the Fed Funds Rate unchanged at 2.000 percent this afternoon, as expected.  In its press release, the Federal Reserve noted the co-existence of inflation and recession.  On inflation, the Fed said that energy and food prices are contributing to an "elevated...
06/25/2008
The Federal Open Market Committee adjourns from its 2-day meeting at 2:15 P.M. ET today.  It's widely expected that the group will leave the Fed Funds Rate unchanged at 2.000 percent. However, it's not what the Fed does today that has markets so interested.  It's what the Fed will say. One of the...
06/25/2008
Most homeowners make four housing-related payments each month: Principal on a mortgage Interest on a mortgage Taxes on the real estate owned Insurance for the real estate owned Collectively, these payments are known by the acronym PITI but don't let it fool you -- a homeowner's monthly expenses a...
06/24/2008
Mortgage rates edged higher for the fifth straight week and the benchmark 30-year fixed-rate mortgage is now at a 10-month high. One reason why rates are spiking is because the temporary jolt from higher energy and food costs is starting to look like a longer-term trend. For example, high energy ...
06/23/2008
Flooding in the Midwest has displaced thousands of families and caused billions of dollars in damages. It may also cause mortgage rates to rise. As the extent of the damage becomes more clear, prices for grain and livestock are soaring.  For example, a host of dietary staples are suddenly more ex...
06/20/2008
Home buyers are often surprised when a "rate quote" from the morning won't be honored in the afternoon.  Sometimes, the assumption is that the loan officer is just being sneaky. This couldn't be less true. Rate quotes change in the middle of the day because mortgage markets are in constant flux. ...
06/20/2008
A "Housing Start" is a new home on which construction has commenced and in May, Housing Starts fell to a 17-year low nationally. At first glance, this may seem like a negative for the already-battered U.S. housing market. It's not.  Falling Housing Starts reflects the broader real estate market a...
06/20/2008
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Scott Fowler

Branch Manager / VP Mortgage Lending
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Daily commentary on mortgage industry. Every thing you need to know in plain English!