Scott Fowler's (sfowler) Blog

Mortgage and Lending - Guaranteed Rate (NMLS ID #2611) - NMLS ID #107432
Government action fueled a mortgage market rally last week, leading mortgage rates lower for the second consecutive week. Despite soft housing numbers and evidence of a slowing economy, mortgage rate shoppers found reason to celebrate: Citigroup was "rescued" Wall Street liked the new economic te...
Like everything else on Wall Street, mortgage markets are based on supply and demand.  When demand outweighs supply, mortgage rates fall. So, Tuesday, when the government unexpectedly announced a $500 billion budget for buying mortgage debt from Fannie Mae and Freddie Mac, the demand side of the ...
 This weeks Housing Starts data is good news for home sellers.  Housing Starts fell in October to their lowest levels since 1947.  Building permits were also down.  Fewer homes under construction results in less inventory for home buyers to select from.  Decreasing supply will add a strong suppo...
Effective January 1, 2009, FHA loan limits revert to pre March 2008 levels. FHA home loans are mortgages made by private lenders and insured by the federal government.   2009 FHA loan limits (in most areas of the country) are: 1-unit : $271,050 2-unit : $347,000 3-unit : $419,400 4-unit : $521,25...
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For the hundreth time, all real estate is local. reported today home values in Simpsonville, SC decreased a paltry -.11% in the third quarter of 2008.  Great News for buyers and sellers in Simpsonville.  Our market, although not unscathed, is certainly much stronger than most media fo...
The Producer Price Index (PPI) released today shows the biggest drop in wholesale inflation since records began in 1947.  Most of the decline can be attributed to the 25%+ drop in gas prices.  However, the Core PPI ( which excludes food and gas ) increased more than expectations.  The year-over-y...
Another volatile week in this crazy market.  Retail Sales dropped for the 5th straight month.  Expect a dismal holiday shopping season ahead...probably the worst retailers will have seen in a long time.  Circuit City filed for Chapter 11 Bankruptcy, and will be closing 150 stores.  We also learne...
Retail Sales numbers fell for the fourth straight month and plunged to their worst level since record keeping began in 1992. This is important information because it indicates a bad outlook for the retail industry overall and comes as we head into what looks to be the worst holiday shopping seaso...
  To help demystify the mortgage process, the federal government is giving the much-maligned Good Faith Estimate document a makeover.  Effective January 1, 2010, the current, 2-page form will be replaced by a new, easier-to-understand version, spanning 3 pages. The biggest strength of the new Goo...


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