Monthly Archives: September 2008

Monday afternoon, the U.S. House of Representatives defeated the $700 billion “Bailout Bill”, surprising Wall Street and the world. The Dow Jones Industrial Average responded by falling 777.68 points — its largest one-day loss in history and, this morning, every … Continue reading →

While home electronics advance, the basic extension cord has been slow to catch up. This has created a size mismatch because today’s devices tend to carry large size plugs, but the standard 6-outlet power strip is only meant for “skinny” … Continue reading →

Thursday, federal regulators seized mortgage lender Washington Mutual. The Seattle-based thrift became the third “big name” lender to close its doors since July, joining IndyMac and Lehman Brothers. In 2007, these 3 lenders represented about 10 percent of the mortgage … Continue reading →

The August Existing Home Sales report was released Wednesday, showing a decline in the number of homes sold nationwide, and a reduction in the median sales price. Not surprisingly, the media singled these two statistics out, playing them as a … Continue reading →

Earlier this year — and for the first time in its history — the FHA changed its funding fees and mortgage insurance structure. Effective October 1, 2008, it’s repealing those changes. Partly to keep FHA home loans affordable, and partly … Continue reading →

Crude oil prices jumped $25 at one point Monday, ending the day up by 16 percent. This is an unwelcome development for home buyers and homeowners alike because higher oil prices means higher commuting costs, putting renewed pressure on household … Continue reading →

When functioning properly, gutters can extend the life of a home. By directing water away from the physical structure, gutters protect a home’s foundation, its siding, and its landscaping. The key to reliable gutter performance is simple — keep them … Continue reading →

Getting a great, low mortgage rate is often a combination of luck and preparation. Consider what happened in conforming mortgages this week: Monday, mortgage rates plunged to their lowest levels of the year Tuesday, they bounced back in full Wednesday, … Continue reading →

In August, home builders broke ground on the fewest number of homes since January 1991. It was the 16th straight month in which Housing Starts declined. But, although the press labels these statistics indicative of a recession, home sellers nationwide … Continue reading →

For the third consecutive meeting, the Federal Open Market Committee left the Fed Funds Rate unchanged at 2.000 percent. Of interest to mortgage rate shoppers, the FOMC led its press release with comments about the health of the financial and … Continue reading →