Shannon Odom's (smodom) Blog

Mortgage markets worsened last week as the U.S. economy showed additional signs of strength; and global demand for mortgage bonds slipped. Conforming mortgage rates rose in Maine and around the country for the fifth straight week. It’s a streak that’s been marked by volatile pricing that’s render...

Fannie Mae rolls out new mortgage guidelines Monday. Therefore, if you’re in the process of applying for a conforming home loan, consider giving your complete application by the close of business Friday. All Fannie Mae applications taken on, or after, December 13, 2010, are subject to the changes...

Last quarter, with home prices still relatively low and mortgage rates making new, all-time lows almost weekly, the cost of home ownership was extraordinarily low in Maine and most U.S. markets. According to the National Association of Home Builders’ quarterly Home Opportunity Index, 72.5 percen...

Looking for an extra 2010 tax deduction? Consider making your January mortgage payment a few days early. It’s a simple strategy that works because of how mortgage interest works. Unlike rent which is paid in advance at the start of a month, mortgage interest is only paid after it’s been borrowed....

The Pending Home Sales Index surged 10 percent in October as low mortgage rates and low home prices spurred Bangor buyers into action. A “pending home sale” is an existing home under contract to sell, but not yet closed. The Pending Home Sales Index is at its highest level since April 2010 — the ...

Mortgage markets lost ground last week on growing optimism for the economy, a poor run for the dollar versus the euro, plus the lingering concerns that inflation will grip the U.S. long-term. Conforming mortgage rates in Maine rose for the fourth week in a row, stymying rate shoppers and raising ...

It’s been a wild 30 days for home affordability. Since the Federal Reserve’s November 3 press release, in which our nation’s central banker committed $600 billion to bond markets, mortgage rates have leaped, moving quicker than the news can report them. This week is a terrific example of that. T...

  Mortgage rates are rising, up nearly 1 percent since mid-October. Tomorrow, rates could rise again. The Bureau of Labor Statistics releases the November jobs report at 8:30 A.M. ET Friday. With a stronger-than-expected reading, mortgage rates should continue their climb, harming home affordabil...

Standard & Poors released the September Case-Shiller Index Tuesday. The Case-Shiller Index is a home-value tracker. The report shows home prices down 0.7% from August and values fading, in general. Case-Shiller representatives assessed the findings as “another weak report; weaker than last month...

After posting a strong September, the number of newly-built homes sold nationwide slipped in October. Total units sold on an annual basis dropped by 25,000 from September; supplies of new homes climbed 0.7 months. Home supply is back to its rolling, 6-month average of 8.6 months. Like everything ...