December 29, 2007 by admin
The 9% drop in new home sales brings the market to the lowest pace in 12 years. The Commerce Department reported Friday that new-home sales fell to a seasonally adjusted annual rate of 647,000 the worst showing since April of 1995 (621,000). This pace was much weaker than economists had expected. Their prediction had been a sales drop of around 1.8%, or a pace off 715,000.
The median sales price of a new home dipped to $239,100, or .4% lower then a year ago. The drop was nationwide, with the sole exception being in the west.
Mortgage Brokers and Mortgage Bankers learn more about expanding into additional states, and there surety bond requirements by exploring our site.
Category: Mortgage Banker, Mortgage Broker Surety BondComments (0)
by admin
Bryant Surety Bonds closed at noon on Friday, December 28th, 2007 for the New Years holiday. We will reopen on Wednesday, January 3rd, 2008. We wish you all a happy new year and look forward to serving your surety bond needs in the new year.
In the mean time, feel free to search our site for surety information, and when you are ready visit our online surety bond application to apply, instant quotes are available.
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December 23, 2007 by admin
Bryant Surety Bonds, Inc. closed at noon on Friday December 21st so that we could have our annual holiday party. We hope all of you have a great holiday, we thank you for your business, and look forward to serving you in 2008. In the mean time, applicants may still apply using our surety bond application page. Once again, have a safe and happy holiday.
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December 20, 2007 by admin
Today, December 20th, 2007, Bryant Surety Bonds unveiled its new site. It is our hope that visitors find the new layout easier to navigate. On top of easier navigation we have updated our online application to offer new exclusive surety bond programs, and an easier user experience.
The new site layout is just the first of several projects that we are working on. From now, through the first half of ‘08, we will be unveiling several new resources for our current, and future clients.
Please stop back to learn more about surety bonds, the surety industry, and to see the new resources as they are unveiled.
Category: Homepage, Operating AnnouncementComments (0)
December 6, 2007 by admin
In a follow up to our post on Monday it appears that a deal has been reached and that the bush administration will announce the plan today.
Early indications are that some will have their mortgage interest rate frozen for a five year period. The idea of the plan is to protect the economy from the threat poised by the large foreclosures among subprime borrowers. It is estimated that this plan could give relief to hundreds of thousands of homeowners.
Tax payer is not expected to be used for this deal.
Here are some of the details:
- The plan covers subprime adjustable-rate loans that were issued from 1/2005 to mid-2007 that will reset to higher rates starting next year through mid-2010.
- To qualify, borrowers must live in their home and be unable to afford their payments once they rise to the new rate. In addition to this the homeowner must also have less than 3% equity in the home.
Category: Homepage, Mortgage Banker, Mortgage Broker Surety BondComments (0)
December 3, 2007 by admin
Treasury Secretary Henry Paulson said Monday he is confident that a deal would soon be in place that would help thousands of homeowners nearing mortgage default. The deal is to freeze their interest rates temporarily.
About 2 million subprime mortgages are scheduled to reset to much higher levels by the end of 2008. Those resets will push the payment on a typical mortgage up $350 per month.
One final outstanding issue is how long this freeze should last. Many government regulators are pushing for five to seven years. On the other side investors, who will see lower payments on the loans, are arguing for a period of one to two years.
We will keep you updated on the outcome of these talks, and the effect this may have on mortgage brokers and bankers.
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