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David J DeCarlo
Montclair, NJ
20 years experience in the mortgage business. 12 years in real estate before that.
Recent Activity
WSJ... Lenders Put Borrowers Through the Wringer...
Lenders Want to Know Everything By AMY HOAK As a home buyer or refinancer, you'd expect to submit recent pay stubs and bank-account statements when applying for a mortgage loan. But a copy of your divorce decree? That's exactly what... Continue reading
Posted Jun 22, 2012 at Show me the MORTGAGE money!
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Fed cuts estimates for economic growth....
The recent FOMC meeting cut estimates for GDP and sighted slow increase in household spending which seems to indicate we are not out of the woods yet. The FED further indicated rates would be kept low through 2012 which is... Continue reading
Posted Jun 21, 2012 at Show me the MORTGAGE money!
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The Myth of the National Housing Market.....WSJ
By Nick Timiraos The housing boom and bust gave rise to the myth of a “national” housing market. After all, prices rose in almost every part of the country until 2006, when they began dropping from coast to coast. But... Continue reading
Posted Jun 21, 2012 at Show me the MORTGAGE money!
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Mortgage rates fall to new lows again...USA Today
WASHINGTON – Average rates for 30-year and 15-year fixed mortgages fell to fresh lows this week. READ ON:... Continue reading
Posted May 10, 2012 at Show me the MORTGAGE money!
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Refi quandry???...Mortgage deduction vs monthly savings.....
Recently a refinance question was posed to me that I thought was very interesting. And, I had never been asked the question before. The mortgage applicant was questioning whether refinancing to a lower rate was a good idea because they... Continue reading
Posted Apr 25, 2012 at Show me the MORTGAGE money!
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CNN Money Mortgage payments at lowest level in decades.......
Posted Apr 23, 2012 at Show me the MORTGAGE money!
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a look back.....at house values
...I was a real estate broker in the late 70s and all through the 80s. When asked by homebuyers what they could expect in the way of appreciation in the value of their home we used to advise 4-5 years.... Continue reading
Posted Apr 19, 2012 at Show me the MORTGAGE money!
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WSJ...Report: Sellers’ Asking Prices Rose in March.
By Nick Timiraos Here’s a sign that sellers are feeling more optimistic about their prospects this spring: median asking prices in March jumped by 5.6% from a year ago, and were up 1% from February, according to a report released... Continue reading
Posted Apr 17, 2012 at Show me the MORTGAGE money!
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WSJ Are Mortgage Credit Standards Loosening? (Hint: No).
By Nick Timiraos It’s no surprise to anyone who has applied for a loan recently that banks are being far more careful. But a new report shows just how tight conditions have become — and how even borrowers with favorable... Continue reading
Posted Apr 13, 2012 at Show me the MORTGAGE money!
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WSJ...As Home Rents Head Higher, Owning Regains Its Appeal .
By DAWN WOTAPKA and NICK TIMIRAOS Climbing rents for apartments are combining with a continued decline in home prices to push once-reluctant home buyers into finally taking the plunge, say economists and real-estate agents, helping what appears to be a... Continue reading
Posted Apr 13, 2012 at Show me the MORTGAGE money!
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First Time Buyers are starting to get serious...
Why? Rates are at all time lows and home prices have been rolled way back. Many young people are looking at home ownership again. Example: I recently assisted with mortgage financing of a single family residence purchased by first time... Continue reading
Posted Apr 13, 2012 at Show me the MORTGAGE money!
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Latest Transaction: Purchase, first time buyers,...
Latest Transaction: Purchase, first time buyers, 3.5% down payment, got them a 30 year fixed FHA mortgage at 3.75%, no points, and $1,700 lender's credit at closing. Continue reading
Posted Apr 13, 2012 at Show me the MORTGAGE money!
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WSJ ...Sellers Brace for New Mortgage Caps
October Change Is Meant to Reduce the Government Footprint in Housing, but Industry Fears It Could Lead to Lower Prices By NICK TIMIRAOS And ALAN ZIBEL The federal government is readying its first retreat from the mortgage market, with the... Continue reading
Posted Jul 7, 2011 at Show me the MORTGAGE money!
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Mortgage rates.......
are hitting or close to all time lows! Continue reading
Posted Jun 1, 2011 at Show me the MORTGAGE money!
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U.S. Asks if Banks Colluded on Libor .....Wall Street Journal
BY JOSEPH PALAZZOLO, JEAN EAGLESHAM AND CARRICK MOLLENKAMP U.S. investigators are examining whether some of the world's biggest banks colluded to manipulate a key interest rate before and during the financial crisis, affecting trillions of dollars in loans and derivatives,... Continue reading
Posted Apr 14, 2011 at Show me the MORTGAGE money!
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March 21, 2011, 12:11 PM ET.Defining Subprime: Easier Said Than Done.
Great article by Nick Timiraos WSJ. Read on: Continue reading
Posted Mar 21, 2011 at Show me the MORTGAGE money!
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The actual cost of interest on a home loan may be considerably less than you realize...
because mortgage interest is tax-deductible. When you deduct mortgage interest, it reduces the amount of income on which you are taxed. Click here for the After-Tax Interest Rate Chart. Continue reading
Posted Mar 15, 2011 at Show me the MORTGAGE money!
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Recent refinance.....30 year fixed...
to a 20 year fixed. The amount of interest saved was into six figures. Continue reading
Posted Mar 11, 2011 at Show me the MORTGAGE money!
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Let me introduce myself.....
Continue reading
Posted Mar 5, 2011 at Show me the MORTGAGE money!
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Why You Should Buy That Home Now...WSJ
The Obama administration's proposals this morning to extricate the government from mortgage lending sounded the death knell for Freddie Mac and Fannie Mae. They weren't good news for homebuyers, either. In the proposals were changes that will mean more expensive... Continue reading
Posted Feb 17, 2011 at Show me the MORTGAGE money!
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Banks Push Home Buyers to Put Down More Cash ...WSJ
By S. MITRA KALITA The down payments demanded by banks to buy homes have ballooned since the housing bust, forcing many people to rethink what they can afford and potentially shrinking the pool of eligible buyers. Read ON: Continue reading
Posted Feb 16, 2011 at Show me the MORTGAGE money!
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Fed Governor Says Housing and Banking Industry Owes America...
by Jann Swanson Federal Reserve Governor Sarah Bloom Raskin called out housing finance players in a speech on Friday, reminding them of the "low road" they traveled before the housing collapse and the debt they owe the American people for... Continue reading
Posted Feb 14, 2011 at Show me the MORTGAGE money!
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White House's unwritten mortgage memo: Act now.......Reuters
By Linda Stern WASHINGTON | Fri Feb 11, 2011 2:03pm EST WASHINGTON Feb 11 (Reuters) - The Obama Administration's newly unveiled housing finance plan may have clouded the picture for policymakers, lenders and bond buyers, but it made the future... Continue reading
Posted Feb 11, 2011 at Show me the MORTGAGE money!
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Rise in Rates Is Headwind for Housing ...WSJ
By MARK GONGLOFF, NICK TIMIRAOS And RUTH SIMON U.S. 30-year mortgage rates have jumped above 5% for the first time since last spring, in a rapid rise that could present a challenge to the still-troubled housing market. Read on: Continue reading
Posted Feb 11, 2011 at Show me the MORTGAGE money!
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Realtor's Toolbox...The Equity Advance
Scenario: You have a buyer willing to buy and a seller willing to sell. Great! This transaction can be put together, just one hurdle to jump. The 10% deposit. Unfortunately, the deposit is in the buyer's home, not in their... Continue reading
Posted Feb 1, 2011 at Show me the MORTGAGE money!
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