Hello and thank you for reading the Mission Mortgage blog. We have recently updated our website, including the integration of this blog into the main site. The result is easier navigation between our blog and our website, which we hope … Continue reading
With the recent devastation due to wildfires in the Central Texas region, we thought it would be appropriate to outline the impact wildfires can have on real estate and the housing market. While not specific to the most recent fires, these are common effects a wildfire can have on a local market. Continue reading
We have recently covered a couple of stories regarding Mortgage Insurance. In response to our posts, we’ve received a number of questions asking us “What is Mortgage Insurance?” This post sets out to explain what Mortgage Insurance does, why it exists, and who benefits.
Mark Sprague, Director of Business Development at Mission Mortage of Texas, Inc, was recently asked questions regarding the housing market in Austin. We are sharing the questions and Sprague’s answers to the most recent questions. To learn more about new home starts, top builders, most popular subdivisions, and more, please read the full story… Continue reading
The Consumer Credit Reporting Companies are permitted to include your name on lists used by creditors or insurers to make firm offers of credit or insurance that are not initiated by you. You have the right to “Opt-Out”, which prevents Consumer Credit Reporting Companies from providing your credit file information. Continue reading
Mixed news on the housing front regarding homeowners unable to make their mortgage payments. According to a story by CNBC, loans in the foreclosure process decreased as a percentage of all mortgages, while delinquencies rose. FORECLOSURES 4.43 percent of all … Continue reading
New FHA loan limits in effect starting October 1 will potentially impact the Austin area. The new loan limits are lower than the existing limits, meaning buyers must be cautious to complete their transactions immediately or opt to purchase a house below the new limits. Sellers should be concerned if their home is listed above the new loan limit, as it will decrease the number of potential buyers available to them in the marketplace. Continue reading
As of August 19, 2011 the number of private companies offering Mortgage Insurance policies decreased by one as PMI Mortgage Insurance Company was ordered to cease the creation of new coverage. While PMI still manages a large pool of previous policies, without the ability to write new business, the long-term survival of the company is in question.
Since QE has not solved the problem to the degree that The Fed had hoped, we wanted to find out what other tools are available to The Fed and we came across a great blog post by Dr. Mark Dotzour from Texas A&M that explains it in a very easy to read list.
Mark Sprague is quoted in a recent Austin American-Statesman article about the state of the Austin housing market and the July resales results. Mark provides his comments about affordability and the stregth of Austin’s economy. July saw a slight downtick in sales from June and a significant (tax credit influenced) increase over last July. Continue reading