Monthly Archives: July 2010

USDA Funding Restored

The U.S. Congress passed legislation this week to restore funding to the 502 single-family rural housing program, more commonly known as USDA.  The program allows 30-year originations primarily for low-income families to purchase households or renovate the ones they already … Continue reading

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Attend a Taping of Austin City Limits

This entry is the first of many that we will post in a new category called “Austin Gems” (see the side bar on the right). We’ve all been to Barton Springs Pool and Mt. Bonnell…here we will provide information about … Continue reading

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Mortgage Applications for Purchases Rise

The Mortgage Bankers Association composite index for the week ending July 23 declined a seasonally adjusted 4.4 percent from one week earlier, but there was some good news hidden in the results. The purchase index increased 2.0 percent from one … Continue reading

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New Home Sales Rise in June

The U.S. Commerce Department today reported sales of new, single-family houses in June rose 23.6 percent from May.  May’s numbers were sharply down, mostly due to the expiration of the federal housing tax credit on April 30. June’s results, while … Continue reading

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Austin Job Numbers Up Again

June 2010 payroll jobs numbers by the Texas Workforce Commission and U.S. Bureau of Labor Statistics saw Austin again improve on the return to year-over-year job growth begun in April. Job losses in this recession peaked at 24,400 (-3.1%) in … Continue reading

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ALERT – Change to Credit Check Policy

YOU SHOULD BE AWARE OF A RECENT CHANGE TO THE LENDING PROCESS! If you are considering a home purchase, this is absolutely critical information for you to know.  Recent changes in lending policies now require lenders to check your credit twice … Continue reading

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Mission Mortgage on KXAN

Kate Weidaw of KXAN Austin recently spent time with a couple of our employees here at Mission Mortgage. She sat down with Mark Sprague, Director of Business Development, to discuss the overall market and the importance of the historical low … Continue reading

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Lowest Rates Since the 1950s

Rates for home mortgages continue to drop, with reports this week indicating that these are the lowest rates since the 1950s. The Federal Reserve released a chart this week indicating that the current rate of 4.58% is the lowest in … Continue reading

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Refi Applications Increase

The Mortgage Bankers’ Association this week reported that their refinancing index increased last week by 9.2%, indicating a surge of owners who are taking advantage of historical low rates to refinance their existing home loans. The index for purchase applications … Continue reading

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Austin 2nd Strongest Economy

In yet another glowing review of Austin, The Brookings Institution’s MetroMonitor has ranked the Austin metropolitan area as the second strongest U.S. Metro Economy. The rankings were based upon four key indicators: employment change, unemployment change, gross metropolitan product, and … Continue reading

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