Westport Mortgage - Westport Connecticut

Breaking News….

Jake's House of Hard Money Lending announced a merger with Louie's Pay Day Loans. Jake Bianchi has taken the role of president of the new firm, and Louie Pomilia will become the COO. Both were optimistic about the prospects of the new firm, citing the obvious compatibility in business channels, ...

We’re not out of the woods yet…

The economists spent this past weekend dissecting the job's number, and the other economic releases, from last week: that's what economists do. In December the US lost 85,000 jobs, but November showed a gain for the first time in two years. Still, the markets believe that the Fed will keep ...

Existing Home Sales are UP!

Sales of previously owned homes in the U.S. rose 7.4% in November to a 6.54 million annual rate, according to the National Association of Realtors. Inventories of previously owned homes decreased by 1.3% to 3.52 million available for sale, representing a 6.5-month supply at the current sales pace. Low prices ...

First Time Homebuyer Tax Credit Extended Into 2010! Plus…A New Tax Credit for Certain Existing Home Owners!

It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009. In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension ...

We’re still bleeding jobs, But the blood loss is slowing.

[caption id="attachment_355" align="alignleft" width="150" caption="Click To Enlarge"][/caption] U.S. unemployment hit a shocking 10.2% in October. Worse yet, the "real" unemployment rate, which adds in things such as discouraged workers who have dropped out of the labor force, hit 17.5%. Ouch. Yet there's some light at the end of the tunnel. While ...

Say goodbye to Fannie and Freddie…sort of.

Say Goodbye to Fannie and Freddie…sort of. Meet the MCGE, that's pronounced McGee, and it aims to provide a form of stability guarantee for investors who are currently quite risk averse when it comes to buying pools of mortgages. This could mean a floor under or at very least a stabilization ...

Today is “Cramer’s Bottom” for the housing market.

Today is "Cramer's Bottom" the day he's been saying for a long time would mark the nadir of the housing market. From a September article in New York Magazine; "In fact, I’ll call the precise date of the housing-market turnaround. It will begin on June 30, 2009." As of April, house prices ...

When will the housing market bottom out?

Some folks want you to believe that the Fairfield County housing market has bottomed out or is even turning around. It's not. Freddie Mac is out with its latest housing market update, with a wealth of data on the housing market from its point of view. One graph that sticks out: total delinquencies ...

Do as the Fed says, not as they do.

They say no news is good news, but perhaps the more important question this week is will the Fed's news from their latest Federal Open Market Committee Meeting be good news for rates and the economy? Here's what we know and how it will effect home buyers in Fairfield County. Last ...

8,000 Reasons to Buy versus Rent

With all the talk in the media today about the Housing Crisis and the Economy, you might be asking yourself: Is now the right time to buy? The answer is: Yes! Now is the right time to buy, especially if you are currently renting and don't have a residence you are ...