The Skinny Blog

Mortgages

            Following the ebbs and flows of the housing market itself, the mortgage finance marketplace has also transformed over the last decade. First, some scene setting. Each trendline above represents the percentage of closed sales in the Twin Cities 13-County MSA that utilized a particular form of mortgage financing, by
[read more]

For those that complain that we only hear negative news from the media, I offer this: A big shout-out to Jim Tice who answered the call for TV time and to the homeowner who spoke directly to our talking points without any coaching from us (promise!). FOX-9 TV kind of outdid itelf last night, continuing
[read more]

With mortgage rates in serious decline and flirting with 50-year lows, there has naturally been an upswing in new mortgage and refinancing applications from consumers. From a recent AP story on the subject: Applications surged earlier this month to the highest level since July 2003, when refinancing activity boomed at the peak of the housing
[read more]

While speaking with the local media last week about our most recent press release, Kevin Knudsen, our 2008 President, informally asked the reporters he spoke with if they believed that current mortgage qualifying standards make it difficult for prospective buyers to purchase a home. Overwhelmingly, they responded "yes," with some believing a downpayment of at
[read more]

Here’s some more great news for your Friday, as if this wasn’t enough: one in six homeowners in the U.S. now owes more on their home than it’s actually worth. From a fascinating WSJ article: About 75.5 million U.S. households own the homes they live in. After a housing slump that has pushed values down
[read more]

Pending sales in the Twin Cities housing market have showed a year-over-year increase for two straight months—a notable and positive achievement that we’ve pointed out in a few spots before. The question for today is whether or not this is going to continue through the remainder of 2008. Will sales remain robust, fall a bit,
[read more]

A phenomenon that consumers, lenders, bankers and Realtors alike are experiencing on the ground gets a 10,000 mile view from the Strib, along with the requisite human interest angle: …so when they backed away from a complicated deal in which they tried to buy a house from a borrower who owed more than the house
[read more]