Monthly Archive: April 2011

Apr 28

Mortgage Applications Fall

This is interesting; the number of loan applications fell last week by 5.6% according to the Mortgage Bankers Association. The number of applications declined at the same time interest rates improved!!! HAHAHAHA 

Can you hear The Oink Factor? 

I talk about this phenomenon in my book Selling the Invisible House in the chapter about mistakes to avoid.  Loan applications initially slow down as interest rates decrease. Then they speed up as rates start to rise.  How crazy is that? 

You economist types will state this is a matter of supply and demand.  That could explain it except for the fact that interest rates do not react that quickly to demand.  Demand on the other hand turns on and off like a faucet when ever there is a change in the direction of rates.

 Watch, when the rates start to increase there will be a spike in the number of loan applications.

Apr 28

Selling the Invisible House

My book is in the editing stage, should be published soon.  Very excited!

Cover Small 2 199x300 Selling the Invisible House

Apr 27

Rate Watch

Looks like the Fed has not hurt interest rates today.  The bond market opened off a little but rebounded by lunchtime.  I had sushi, maybe that helped.  Bernanke’s speech should be over by now, he must have been a good boy.  Just got an email that the bond market improved a little more.

 Looks like they intend to keep the rates low for awhile.

Apr 23

Down Payment Assistance

I just finished a report prepared from the notes for my book Invisible Money in Kentucky that will be published this summer.  The subject of the book is different methods of coming up with a down payment and closing costs.

There is still over half a million left in down payment assistance funds at KHC. 

 Looks like someone would grab some of that while it is still there.