Why Rent when you can own?

A new World of Finance

Another wild and whooly week in the mortgage Market. Friday Chase announced that they are not going to underwrite any non agency products. It is the byproduct of wall st. not having any desire for morgage back securities. If Fannie and freddie won’t buy it than the market just got a whole lot smaller.

Mortgage Update

This week we have seen a further shrinkage of outlets in the market with the failure of Indymac Bank. With there varied product line and construction funding they will be missed.

It’s a great time to Buy!

Rates have stabilized to about the 6.25% rate for conforming 30 years. Another bank, Indy mac, a large national lender has ceased whole sale and limited retail operations this week.