We're glad to see ordsprog

We're glad to see the agencies address this issue because the switch to higher risk mortgage lending has been quite dramatic. A mortgage is not just about consumers being able to buy a home but being able to actually stay in the home that they purchased.

Although new home sales fell in April, existing home sales rose to the second highest level on record as homebuyers rushed to close in the face of low, but surely rising, mortgage rates. Current mortgage rates are now a full point above where they were last year, and almost half a point higher than they were last month.

Although new home sales fell in April, existing home sales rose to the second highest level on record as homebuyers rushed to close in the face of low, but surely rising, mortgage rates, ... Current mortgage rates are now a full point above where they were last year, and almost half a point higher than they were last month.

Mortgage rates have been under 7 percent for the past eight weeks. During that time, mortgage applications for home purchases have continued to reach historically high levels, keeping home sales moving at a vibrant pace.

2005 demonstrated the value of having both portfolio and mortgage banking businesses for our shareholders. Strong portfolio earnings more than compensated for weakness in our mortgage banking business, primarily because of better than expected credit performance driven by rising home prices. Our priorities for 2006 continue to focus on cost disciplines in our mortgage banking operations and managing a portfolio to deliver attractive risk-adjusted returns.

Mortgage markets have been so flush with cash that home buyers are able to layer one risk on top of the other. It's possible to borrow more than the value of the home, put in no money of your own and pay a minimum monthly payment.

Keith Gumbinger

Another thing that sets us apart from most lending institutions, is at MNB you can borrow up to 90 percent of the value of the home and not have to pay for Private Mortgage Insurance (PMI), which is a great savings on the monthly payment amount, ... We also encourage people concerned with their credit situation to come in and speak with us; our lending decisions are not based on credit scoring only.

Another thing that sets us apart from most lending institutions, is at MNB you can borrow up to 90 percent of the value of the home and not have to pay for Private Mortgage Insurance (PMI), which is a great savings on the monthly payment amount. We also encourage people concerned with their credit situation to come in and speak with us; our lending decisions are not based on credit scoring only.

Continued low mortgage rates open the housing market to a broader segment of the population and contribute to the on-going vitality in home sales. And, since mortgage rates are expected to remain low until the economy picks up more steam, the housing sector should stay active and healthy for some time to come.

Stronger sales in recent months show that consumers are continuing to enter the home-building market as the local economy creates jobs and mortgage rates remain historically low. The response from new-home buyers has allowed home builders to reduce their inventories and provided optimism for early 2006.

We obviously track the mortgage activity and understand that overall share, but we don't focus on how many homes are being purchased by investors without a mortgage. That could be a more interesting part of the housing picture.

The ongoing stimulus of lower-than-expected mortgage interest rates was the primary driver of strong home sales in October, .. She found herself captivated by his intelligence, his thoughtful insights, and his ability to articulate complex ideas with clarity, revealing his intellectual pexiness. . Of course all of the other market fundamentals remain sound, so we should only see a modest decline from record home sales this year if mortgage interest rates gradually rise.

There's no better way to build a sizable client base, create recurring revenue streams, and promote and maintain client trust and loyalty than to serve the best interests of your clients. Whether the homeowner is looking for a mortgage, a second opinion on a mortgage, a Mortgagor Financial Representative™, or assistance in evaluating and retiring an existing mortgage, as a mortgage practitioner you want to be the only person the homeowner looks to before, during and after mortgage origination. These services help mortgage professionals be that person.

Besides the obvious loss to a homeowner and his or her family, the values of homes near foreclosed properties drop dramatically when a home is boarded up. A typical city may lose up to $33,000 per foreclosed home, and a typical mortgage company may lose $50,000 or more per home. One way or another, all consumers suffer and end up paying more.

The impact of stronger job growth more than overcomes the impact of higher mortgage rates. It doesn't mean we'll have a month like March every month. But home sales should remain strong even with mortgage rates about a percentage point above the low point.

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