Jeff Baxter

Southern Delaware's Leading Mortgage Banker

 

Southern Delaware's Leading Mortgage Banker

With over 30 years experience in financial services, I can skillfully assist you with the purchase or refinance of your vacation home, investment property and/or personal residence. If you’re looking for knowledgeable advice, pertinent information, and the best service in the mortgage business, you’ve come to the right place. Read about my thoughts on today’s market right here and review current news. I love to talk about the business, so contact me today and let’s discuss your needs

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Mortgage News

  • Explaining The MBS Settlement Process

    Posted To: MBS Commentary

    10yr Notes progressively improved into the PM , ending 5 ticks better on the day with a yield of 3.70. MBS fought off much of the AM weakness in tsy's, and rallied just as well into the PM, reaching 101-15 at 4pm. But then we ended 4 ticks down on the day at 101-01! WHAT?!?!? So you're tellin' me MBS effectively erased all gains from the past two days?! Not exactly... I'll let AQ explain... -------------------------------------------- If you haven't read the following description of the agency MBS settlement process...please don't skip over it as it may save you from having to change your pants when next month's settlement rolls around. If you have read it...go over it one more time just to make sure the underlying logic is clear. The March FN 4.5 MBS coupon has...(read more)

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  • Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings

    Posted To: MND NewsWire

    Commercial and multifamily mortgages continue to have the lowest rates of charge-offs of any loan types at banks and thrifts and perform better than the overall loan portfolios at those institutions according to the Mortgage Bankers Association (MBA). In response to what it referred to as a great deal of discussion and conjecture about those loans in recent months, MBA updated an earlier " DataNote " analysis of commercial and multifamily mortgage data from the 4th quarter of 2008 with data from the same period in 2009. The report states that 56 percent of the assets held by banks and thrifts at the end of 2009 consisted of loans and leases, a category that includes 1-4 family mortgages, home equity loans, credit cards and other consumer loans, commercial mortgages, multifamily mortgages...(read more)

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Rate Alert Service PDF Print E-mail
Mortgage News - Newsflash
Written by Jeff   
Thursday, 11 February 2010 16:49

Rate_AlertHow would you like to get an email each day showing you current mortgage rates?  My Rate Alert Service does just that - just click to sign up and begin tracking mortgage rates by email.

The service is free & can be cancelled at any time.

Here's a sample:  Sample Newsletter

 
February Newsletters Posted PDF Print E-mail
Jeff's Blog - Jeff's Blog
Written by Jeff   
Thursday, 11 February 2010 16:13

My Newsletters are posted:

February Real Estate Trends - Current real estate news and financial trends
 
February Real Estate Page:  Mistakes to Avoid When Financing Your Home - Excellent article this month that can help any client.  It stresses the importance of working with a trusted lender.
 
February Sales Update:  Negotiation Skills for Winners - Primarily for folks involved in sales.
 
Existing Home Sales Collapse PDF Print E-mail
Jeff's Blog - Jeff's Blog
Written by Jeff   
Tuesday, 26 January 2010 22:08

Existing home sales plunged a record 16.7% in December to an annualized pace of 5.45 million. The large decline followed several months of strong sales gains that were primarily driven by the first time homebuyer tax credit which was originally slated to expire on November 30. The tax credit has since been extended and expanded but not before impacting sales immediately afterward in December. Despite the sharp decline in December, total sales are still 15.0% above their year ago level.

Our existing home sales report is here SALES SWOON, INVENTORIES DROP, PRICES RISE 

For all of 2009, sales increased over 5% from 2008, their first annual gain since 2005.  Home prices increased over the last year with median prices up 1.5% to $178,300 and average prices gaining 3.6% to $225,400.

 
December Housing Starts PDF Print E-mail
Jeff's Blog - Jeff's Blog
Written by Jeff   
Monday, 25 January 2010 07:20

Our report on December Housing Starts is posted - Declining Again.

New residential construction starts declined 4.0% in December to an annual rate of 557k after an upwardly revised gain of 10.7% in November to a rate of 580k. November’s rebound proved short-lived as homebuilders continued to cut back on new starts amid a spotty economic recovery and a large number of distressed properties moving through the market. In a reversal of recent trend, it was a decline in single-family starts that led overall starts lower. Single-family housing starts dropped 6.9% last month to an annual rate of 456k, which is 5.5% higher than single family starts this time last year but still a stunning 73.6% below their January 2006 peak.

Here is the Census Bureau report on housing Permits, Starts and Completions.

Here is the take from Calculated Risk:  Housing Starts Decline in December.

 
January Newsletters Posted PDF Print E-mail
Jeff's Blog - Jeff's Blog
Written by Jeff   
Sunday, 10 January 2010 16:11

I've finally updated the website with January's Newsletters.  The links are shown below:  Feel free to print or download the newsletters and share them with clients and/or friends.  My complete database of newsletters for the past 3 years is available - just click on the Newsletters tab above.

January Real Estate Trends - Current real estate and financial news

January Real Estate Page - Extended & Expanded Tax Credit - Full Q&A on the newly expanded and extended Homebuyer Tax Credit.

January Sales Update - Marketing the Tax Credit - For Real Estate Professionals an overview of marketing the Tax Credit

 
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Find Jeff's Offices

Long and Foster with Prosperity Mortgage Company  Click here for directions to my Bethany Beach and Rehoboth Offices.

Testimonials

He is always available for questions. He is very good with our customers when pre-qualifying.

Realtor
Rehoboth Beach, DE

Great Job! Quick approval, quick close . . . .

Client
Rehoboth Beach, DE

Jeff is very knowledgeable.

Realtor
Rehoboth Beach, DE

Keep up the good work! I will use you again and refer my family and friends!

Client
Elkridge, MD

Jeff Baxter was very easy to work with and very helpful.

Client
Towson, MD

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