Week of October 9th, 2014
As for mortgage trends – rates are down!! The bond market has been strong this week, and we’ve seen that reflected in slightly lower rates. But, on a side note, according to National Mortgage Professional Magazine – it will take the mortgage loan world three more years before it becomes any easier to get a mortgage. And staying on that note, even Ben Bernanke (former Federal Reserve Chairman) cannot get a bank to refinance his home. Apparently he changed jobs and cannot show two years of stable income, even though he makes $250,000 per speech – The Los Angeles Times. What comes around, goes around, Ben!!!