Conforming mortgages are getting more expensive — but not because of mortgage rates.

To protect against further weakness in the housing sector, Fannie Mae and Freddie Mac are instituting “delivery fees” on all conforming mortgages, effective March 2008.

Fannie Mae’s Adverse Market Delivery Charge and Freddie Mac’s Market Condition Delivery Fee will [...]

The Fed lowered the Fed Funds Rate by 0.250%. The rate decrease was not well-received, though, as many investors were calling for a deeper cut of a half-percent.

In response, dollars moved from stock markets to bond markets and, therefore, mortgage rates fell.

Because it is tied to the Fed Funds Rate, Prime Rate [...]

The Federal Open Market Committee meets today and will release a public statement at 2:15 P.M. ET.

It is widely expected that the FOMC will lower the Fed Funds Rate by at least 0.250%.

When the FOMC lowers the Fed Funds Rate, it is trying to “loosen” credit for American businesses and consumers. [...]

Most interest paid on home loans is treated as tax-deductible interest by the IRS. With some careful planning, therefore, you can maximize your 2007 tax deductions.

Before 2007 ends, you will receive your next mortgage statement, due for a January 1, 2008 payment. The grace period extends that deadline by 10-15 days.

Make your [...]

Thursday, the White House revealed its HOPE NOW program, aiming to help sub-prime borrowers freeze their initial “teaser” rates for a period of five years.

The program is receiving a lot of ink in the newspaper dailies but sometimes it’s unclear exactly what the program offers, and to whom.

Let’s look at the details [...]

Credit scores are the best predictor of how a homeowner will pay on a mortgage, so it’s no surprise that credit scores will play a bigger role in mortgage financing in 2008.

Actually “that date” is more clearly defined. It’s March 1, 2008.

For loans closing on or after March 1, 2008, Fannie Mae and [...]

As a homeowner, your financial obligations extend beyond your monthly mortgage payment. Periodically, you are also required to pay real estate taxes and homeowner’s insurance premiums.

Each month, you pay your mortgage payment to a company called a “mortgage servicer” (because they “service” your mortgage each month).

In addition to the risk of not [...]

If you enjoy roller coaster rides, last week’s mortgage markets were a delight. Up and down mortgage rates went, trying to find a balance between inflation and recession (or maybe neither).

A major cue for traders came from a high-ranking Fed official who raised expectations for future cuts to the Fed Funds Rate.

Currently, [...]

October’s New Homes Sales report showed a modest month-over-month improvement from September.

Before we interpret that to mean that the housing market is rebounding, though, let’s consider the fallibility of the New Home Sales report.

On the Census Bureau’s Web site, there is a disclaimer about the validity of the data. Paraphrased, [...]