Mortgage Rate Forecast: January 2010

Mortgage lenders and servicers have been reluctantly doing loan modifications mainly by paring back interest rates and stretching terms, thereby managing to reduce borrowers' monthly payments to some degree. But obviously that strategy is not working as well as many had hoped for. Restructured home loans keep defaulting at an alarming rate.

DBRS, a debt rating agency, now figures that more than half of them are two or more months behind or sink into foreclosure inside six months from the mortgage modification. Clearly, that's hardly the way to resolve the home loan mess. To get to the core of the problem a new direction in thinking has to be found. Actually a doable solution has been debated for some time now, but mortgage lenders haven't put their arms around the idea much. It's called principal reduction.

Home loan providers and servicers have been pulled kicking and screaming into looking at the idea again, and slowly they seem to be warming up to it. Recent statistics prove that. In the first quarter of 2009 3% of mortgage loan modifications included principal cutbacks, reports confidently DBRS. In the second quarter the number grew to 10% and in the third it stood at 13%. The trend is obvious. It appears the mortgage industry is finally seeing the light, but it sure took them a long while to get there.

Las Vegas valley - including Henderson, Mountains Edge, Silverstone Ranch, Rhodes Ranch, Summerlin and Spanish Trail - mortgage recipients are glad to see this development. Scores of them are seriously underwater and without principal cutbacks they would have little incentive to make payments even if they could afford them. To many it just doesn't add up to keep pouring hard-earned money into a losing asset. If the mortgage lenders here bring the loan balance all the way to market, they'd have a lot of eager homeowners sending payment checks in. And the currently high foreclosure rate would be drastically improved. If they do so only part way, it would predictably still prevent a host of mortgage borrowers from going into default.

Should this trend continue it would begin turning the pummeled mortgage and real estate markets in Las Vegas and nationally around in a decisive manner. At this stage in the game this is about the best way to go about it.

The Mortgage Interest Rate Lock Advisory for Wareham MA for January 29, 2010

Here are some of the events affecting mortgage interest rates today in Wareham, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.81 this morning - the same as yesterday's close.
  
  
• The 4.5% MBS coupon is currently trading at 100.62 - down 6/32 from its opening.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-29-2009 to 1-28-2010:

Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up - and so do mortgage interest rates. I expect that mortgage interest rates will be 0.125% - 0.25% worse in price this morning as compared to late yesterday afternoon.

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

• Advance Reading of the 4th Quarter GDP - showed that the economy expanded at a 5.7% annualized rate, mostly due to a declining contraction in business inventories. This is the highest rate of expansion since the third quarter of 2003. The expansion is also much more than the 4.5% annualized rate analysts expected, and more than the 2.2% annualized rate at the end of the 3^rd quarter of 2009. This data usually does not have an impact on the mortgage market. However, this report led to higher mortgage interest rates this morning.
  
  
• The 4th Quarter Employment Cost Index (ECI) - is up 0.5% for the 4th quarter of 2009, slightly better than the 0.4% increase that was expected. The ECI measures the costs of employee wages and benefits, this providing us with an indication of the threat of wage inflation. Current forecasts are showing an increase of 0.4%. Because of the GDP report, the ECI report had little impact on the mortgage market this morning.
  
  
• University of Michigan's Index of Consumer Sentiment - a reading this morning of 74.4 indicates that consumer sentiment continues to improve. The reading was better than expected, and is better than the 72.8 reading the previous month. This index measures consumer willingness to spend and can usually have enough of an impact on the financial markets to change mortgage rates. While encouraging, this report usually has little to no impact on the mortgage market this morning.

In other news, Ben Bernanke, Chairman of the Federal Reserve, was confirmed by the Senate yesterday for a second four-year term.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked.

Mortgage interest rates are currently trending higher. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional as mortgage interest rates can continue to change for the worse.

Get current mortgage interest rates for your situation in Wareham, MA.

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	Lew Corcoran, Sr. Mortgage Consultant Reverse Mortgages / FHA Loans / VA Loans USDA Rural Development Loans on Cape Cod and in Massachusetts Save on closing costs when you apply for a mortgage online ActiveRain Blog / Localism Mortgage Rate Forecast / New England Properties

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The Mortgage Interest Rate Lock Advisory for Plymouth MA for January 28, 2010

Here are some of the events affecting mortgage interest rates today in Plymouth, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.75 this morning - the same as yesterday's close.
  
  
• The 4.5% MBS coupon is currently trading at 100.69 - down 2/32 from its opening.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-28-2009 to 1-27-2010:

Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up - and so do mortgage interest rates. I expect that mortgage interest rates will be 0.125% - 0.375% worse in price this morning as compared to yesterday.

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

• Durable Goods Orders Report for December - there was a 0.3% increase in new durable goods orders in December, much less than the 1.6% increase that was expected. This follows a 0.2% increase in November. This report shows that the manufacturing sector is gaining some momentum, albeit slowly. This report provides us with an important measurement of manufacturing sector strength by tracking orders for big-ticket items or products that are expected to last at least three years. This report had no impact on mortgage interest rates this morning.
  
  
• Jobless Claims - 470,000 new claims for unemployment were filed last week, 30,000 more than expected, but 12,000 less than the previous week. Analysts predicted there would be 440,000 new claims. However, the four-week average fell 9,000 to 440,750. While the four-week average has increased by 9,500 to 456,250, continuing claims fell by fell 57,000 to 4.602 million. However, many people have reached the expiration of their jobless benefits. This also suggests that the labor market is no longer improving. While significant, this data is usually not considered to be very important to the mortgage market.

In other news, the Treasury Dept. will auction $32 billion 7-Year Notes today. Yesterday's auction of the 5-Year Note was met with lackluster demand. That could lead to an even weaker demand for today's auction for the 7-Year Note, and lead to higher mortgage interest rates this afternoon.

The Federal Open Market Committee (FOMC) concluded its meeting yesterday with no change in the key short-term interest rates. The afternoon report indicated that the economy is recovering and gaining strength. This led to more concerns about inflation and drove mortgage interest higher yesterday afternoon.

Both the results of the 5-Year Note auction and the FOMC statement can cause volatility in the bond and mortgage market this afternoon.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked.

Mortgage interest rates are currently getting worse. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional as mortgage interest rates can continue to change for the worse.

Get current mortgage interest rates for your situation in Plymouth, MA.

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	Lew Corcoran, Sr. Mortgage Consultant Reverse Mortgages / FHA Loans / VA Loans USDA Rural Development Loans on Cape Cod and in Massachusetts Save on closing costs when you apply for a mortgage online ActiveRain Blog / Localism Mortgage Rate Forecast / New England Properties

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The Mortgage Interest Rate Lock Advisory for Provincetown MA for January 27, 2010

Here are some of the events affecting mortgage interest rates today in Provincetown, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.94 this morning - the same as yesterday's close.
  
  
• The 4.5% MBS coupon was up as high as 101.06 this morning, but is now trading at 101.01 - up just 2/32 from its opening.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-27-2009 to 1-26-2010:

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be the same in price this morning as compared to yesterday.

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today

• New Home Sales Report for December - this report will provide us with another measurement of housing sector strength and mortgage credit demand. Analysts are expecting the report to show an increased in new home sales to an annualized rate of 440,000. In October, new homes sold at an annualized rate of 430,000. This data usually does not have an impact on the mortgage market unless it varies greatly from forecasts.

In other news,

The Treasury Dept. will auction $42 billion 5-Year Notes today. If there is a strong demand for bonds, mortgage rates should improve this afternoon. However, weak demand for bonds will likely push mortgage rates higher.

The Federal Open Market Committee (FOMC) will conclude its meeting today, and release a statement at 2:15 pm this afternoon. The short-term interest rates are expected to remain at its current level of 0 - 0.25%. However, bond and mortgage backed securities traders will be looking for a signal of the Fed's next move.

Both the results of the 5-Year Note auction and the FOMC statement can cause volatility in the bond and mortgage market this afternoon.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked.

Mortgage rates are currently improving. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional and rates can change for the worse - often without notice.

Get current mortgage interest rates for your situation in Provincetown, MA.

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	Lew Corcoran, Sr. Mortgage Consultant Reverse Mortgages / FHA Loans / VA Loans USDA Rural Development Loans on Cape Cod and in Massachusetts Save on closing costs when you apply for a mortgage online ActiveRain Blog / Localism Mortgage Rate Forecast / New England Properties

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The Mortgage Interest Rate Lock Advisory for Truro MA for January 26, 2010

Here are some of the events affecting mortgage interest rates today in Truro, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.84 this morning - the same as yesterday's close.
  
  
• The 4.5% MBS coupon was up as high as 101.06 this morning, but is now trading at 100.94 - up just 3/32 from its opening.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-27-2009 to 1-26-2010:

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be up to 0.25% better in price this morning as compared to yesterday.

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today

• Consumer Confidence Index (CCI) for January - consumer confidence for January rose 2.4 points to 55.9. Posted by the Conference Board, this measures consumer willingness to spend. As a comparison, a reading of 80 or better is considered a signal of economic health. Retail sales typically move in tandem with consumer optimism. Because consumer spending makes up two-thirds of the U.S. economy, any related data is watched closely by market traders and can have a significant influence on the mortgage market. If consumers are more confident in their personal financial situations, they are more apt to make large purchases. The higher CCI readings lead to higher mortgage interest rates this morning.

In other news, the S&P/Case-Shiller® Home Price Index report for November revealed a 0.2% decline in home prices in the first 2 months of the last quarter in 2009. This follows a 0.1% decline in October.

The Treasury Dept. will auction $40 billion 2-Year Notes today. If there is a strong demand for bonds, mortgage rates should improve this afternoon. However, weak demand for bonds will likely push mortgage rates higher.

The Federal Open Market Committee (FOMC) meets again today and tomorrow. The FOMC meets once every 6 weeks to discuss domestic monetary policy. The FOMC will release a statement at 2:15 pm tomorrow afternoon.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked.

Mortgage rates are currently improving. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional and rates can change for the worse - often without notice.

Get current mortgage interest rates for your situation in Truro, MA.

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	Lew Corcoran, Sr. Mortgage Consultant Reverse Mortgages / FHA Loans / VA Loans USDA Rural Development Loans on Cape Cod and in Massachusetts Save on closing costs when you apply for a mortgage online ActiveRain Blog / Localism Mortgage Rate Forecast / New England Properties

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House honcho Barney Frank feels that it's time to let these two GSEs, the home loan superstars that have for a long time dominated the secondary mortgage market, expire. Instead of trying to fix them, they should be strapped down and given some liquid that puts them to sleep.  

Fannie Mae and Freddie Mac, in all honesty, have had their problems lately. Years ago they were rocked by management shenanigans, including cooking the books to allow top leaders pocket fatter bonuses. Sounds familiar? More recently they have suffered heavy losses as the real estate market flew right over the cliff and were eventually taken over by the government. But just about every mortgage lender or investor out there is taking it to the chin now, so it's quite common these days.

Regardless, debate has been underway for a while about the future of these important mortgage organizations and now it may be coming to a head. One way or another. There is quite a bit of support in Washington and elsewhere for their outright dismissal. Frank wants nothing less than wipe them off the face of the mortgage scene and bring in a brand new replacement structure. Okay. Perhaps everyone ought to take a deep breath and think this thing through before rushing into anything totally new.

See, the management problems occurred because the governmental oversight by HUD and the Congress was lax. The housing market was doing just peachy early in the decade, actually too peachy, so everybody basically left them alone to knit their little accounting schemes. When the cat is away the mice dance on the table. Tighter supervision would've kept Fannie Mae and Freddie Mac on the straight road. This is hardly a good reason to dismantle these firms. Perhaps the oversight segment should be looked at, and possibly replaced.

Same thing goes for the recent losses. Some realistic red flags were raised by industry experts as the real estate market accelerated toward the pinnacle, but these GSE's, like most private mortgage lenders, ignored sound lending practices and are now paying the price. Like the entire nation is. Again, the oversight was inadequate, missing the boat.

Fannie Mae and Freddie Mac do need some changes to meet requirements of today's difficult housing and mortgage markets. They don't have to be boarded up.  Combining might be the ticket, bring them under one roof. Even if they were tossed by the wayside, the spanking new entity would still need a strong oversight function to do any better. That's the key.

The Mortgage Interest Rate Lock Advisory for Wellfleet MA for January 25, 2010

Here are some of the events affecting mortgage interest rates today in Wellfleet, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.91 this morning - the same as Friday's close.
  
  
• At 10:15 am, the 4.5% MBS coupon was trading at 100.84 - down 2/32 from its opening.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-26-2009 to 1-25-2010:

Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up - and so do mortgage interest rates. Due to a lower closing in mortgage backed securities on Friday, I expect that mortgage interest rates will be 0.125% - 0.25% worse in price this morning as compared to Friday.

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today

• Existing Home Sales Report for December - released by the National Association of Realtors (NAR), this report will provide us with a measurement of housing sector strength and mortgage credit demand. Existing home sales fell 16.7% in December, much more than expected, and is the largest monthly decline since 1968. Existing home sales fell to an annualized rate of 6.54 million, down from the annualized rate of 5.90 million in November. This drop follows the expected expiration of the first-time homebuyer tax credit in November. Many first-time homebuyers made settlement on their new homes before the original expiration of the tax credit in November. However, the tax credit has been expanded, and was extended to April, 2010. While significant, this data usually does not have an impact on the mortgage market unless it varies greatly from forecasts.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. While there's still some room for MBS prices to tick higher, it's better to have locked when you should have floated than it is to float when you should have locked.

If you have not yet locked in your mortgage interest rate, please proceed with caution and maintain contact with your mortgage professional. Also, give very serious consideration to applying now and locking in before mortgage interest rates get worse.

Get current mortgage interest rates for your situation in Wellfleet, MA.

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	Lew Corcoran, Sr. Mortgage Consultant Reverse Mortgages / FHA Loans / VA Loans USDA Rural Development Loans on Cape Cod and in Massachusetts Save on closing costs when you apply for a mortgage online ActiveRain Blog / Localism Mortgage Rate Forecast / New England Properties

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Southern Nevada - with communities of Summerlin, Henderson, North Las Vegas, Mountains Edge, Silverstone Ranch, Spanish Trail and Charleston Heights - real estate arena is showing some green sprouts coming up from the soil that has been pretty dormant for a long while. So, there is hope. Quite affordable mortgage money and shamefully low prices are largely behind the modest trend to turn things around. But a potential obstacle to the budding recovery could derail a promising start.

The lately much-discussed words shadow inventory are back on the lips of housing observers in Las Vegas and throughout. Shadow, or phantom, inventory entails foreclosed homes mortgage banks keep in their books while they try negotiate loan modifications and short sales. Or they may not do any of that, instead have decided to hold back and wait for the market to one day get better.

One of the leading mortgage providers, Bank of America, is planning to unload roughly 6,000 foreclosed properties to the Nevada real estate market this year, predictably most of it here in Las Vegas. That means about 500 new listings per month. These are considered part of the shadow inventory. Nationwide, First American CoreLogic estimates there to be 1.7 million of them, while Amherst Securities puts that number close to 7 million.

Since Southern Nevada is winning hands down the top contender honors in mortgage foreclosures, it's fair to assume that the shadow inventory here is one of the highest around. BofA dumping around 500 of them a month in itself wouldn't spell disaster, as it would only cover a small proportion of the good-size real estate market. However, if other home loan operators entertaining a large phantom inventory in their toxic books choose to do the same, then seat belts should be fastened pronto. The following firestorm would quickly wipe out those green shoots, leaving them charred and lonely. Prices that for now appear to have stabilized would head further down, spreading more housing agony across the valley for years to come.

How this shadow inventory release plays out depends largely on how rationally mortgage banks act in doing it. If they can pull it off in a balanced manner, no problem. If a stampede sets in, well, buying a one-way ticket to the sunny Caribbean might become appealing.  

The Mortgage Interest Rate Lock Advisory for Eastham MA for January 22, 2010

Here are some of the events affecting mortgage interest rates today in Eastham, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.06 this morning - the same as yesterday's close.
  
  
• The 4.5% MBS coupon is currently trading at 100.94 - 4/32 less than its opening.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-22-2009 to 1-21-2010:

Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up - and so do mortgage interest rates. I expect that mortgage interest rates will be 0.0% - 0.25% worse in price this morning as compared to yesterday.

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today

• There are no economic reports scheduled for release today.

In other news, the Treasury Dept. will auction $118 billion in bond auctions next week: 2-Year Notes on Tuesday, 5-Year Notes on Wednesday, and 7-Year Notes on Thursday. If we see a strong demand for bonds, mortgage rates should improve next week. However, weak demand for bonds will likely push mortgage rates higher.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked.

Mortgage rates are currently improving. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional and rates can change for the worse - often without notice.

Get current mortgage interest rates for your situation in Eastham, MA.

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	Lew Corcoran, Sr. Mortgage Consultant Reverse Mortgages / FHA Loans / VA Loans USDA Rural Development Loans on Cape Cod and in Massachusetts Save on closing costs when you apply for a mortgage online ActiveRain Blog / Localism Mortgage Rate Forecast / New England Properties

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The Mortgage Interest Rate Lock Advisory for Orleans MA for January 21, 2010

Here are some of the events affecting mortgage interest rates today in Orleans, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.84 this morning - the same as yesterday's close.
  
  
• The 4.5% MBS coupon is currently trading at 100.84 - the same as its opening.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-22-2009 to 1-21-2010:

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will the same in price this morning as compared to yesterday.

In other news, the Treasury Dept. will announce later today $118 billion in bond auctions for next week: 2-Year Notes on Tuesday, 5-Year Notes on Wednesday, and 7-Year Notes on Thursday.

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today

• Jobless Claims - 482,000 new claims for unemployment were filed last week, much more than expected, and substantially more than the 444,000 claims filed the previous week. Analysts predicted there would be 440,000 new claims for unemployment. However, the four-week average declined another 9,000 to 440,750, continuing the downtrend for the 19th straight week. Continuing claims is also down from 4.617 million the previous week to 4.599 million. With an overall decreasing trend in the filing of new claims for unemployment, this suggests that the labor market is improving. However, this data is usually not considered to be very important to the mortgage market.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked.

Mortgage rates are currently improving. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional and rates can change for the worse - often without notice.

Get current mortgage interest rates for your situation in Orleans, MA.

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	Lew Corcoran, Sr. Mortgage Consultant Reverse Mortgages / FHA Loans / VA Loans USDA Rural Development Loans on Cape Cod and in Massachusetts Save on closing costs when you apply for a mortgage online ActiveRain Blog / Localism Mortgage Rate Forecast / New England Properties

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