That’s right…we know how to “represent”!

Virginia Mortgage Lenders Association   At Village Bank Mortgage, taking an active role in our local community is just part of our genetic makeup.  We believe a strong local community is the best foundation for success.  But we are also aware that our local community is only one part of the big picture.  Governmental policies… Read More »

The Underwater HARP…great news for homeowners!

  “In the right hands, this instrument performs like no other!”   Ok…I may not be speaking of an actual harp, but for homeowners underwater on their current mortgage this HARP (Home Affordable Refinance Program) will be music to your ears!  If your loan is owned by Fannie Mae (as so many are) and you… Read More »

We’ve got a lot of T-shirts!

You know that old saying, “Been there.  Done that.  Got the t-shirt.”?  It’s never been more true than at Village Bank Mortgage.  In fact, I think these loan officers must be collectors! In a recent internal report, it was discovered that our loan officers share an average of 21 years experience each in the mortgage industry!… Read More »

November Housing Starts Increase

Housing starts for November rose 9.3% to 685,000. The highest annual rate since April 2010. Leading the way was multi-family units, rising 32.2%. Single-family units saw an increase of 2.3%. Over the last year, housing starts are up 24.3%. The Housing Starts report measures the number of residential units on which construction is begun each… Read More »

Delinquency Rate Down- Homeownership rate up.

The Virginia Mortgage Lenders Association release the National Delinquency Survey today. It showed that Homeownership in Virginia rose by 1.3% in the 3rd quarter of 2011 compared to the 3rd quarter 2010. Virginia’s homeownership rate is above the national average by 2.5% at 68.8. Delinquency rates and foreclosure starts fell during the third quarter of… Read More »

Initial Jobless Claims Reach 3-Year Low

 Initial jobless claims dropped 19,000 for the week ending December 10th to 366,000. This marks the lowest level for initial claims since May 2008. Though the weekly claims report can be volatile, 5 of the past 6 weeks have come in below the 400,000 mark. A sign that perhaps the employment sector is improving. The… Read More »

Mortgage Rate lower

In a rare move the stock market soared and mortgage rates fell. This is in reverse of the normal trend. Usually when stock improve mortgage rates go higher.

Existing Home Sales Increase

Existing home sales for October rose to 4.97 million, a 1.4% increase from September, and a 13.5% increase from October 2010. An additional positive sign is the decline in the number of homes on the market. Total inventory for October fell 2.2% from September. This represents an 8.0 month supply at the current sales pace,… Read More »

Dave Worrie shares marketing ideas with Village Bank Mortgage Loan Officers

  On Monday November 11th, Dave Worrie with Remax Commonwealth, met with Loan Officers from Village Bank Mortgage to share his insite into his marketing success. Dave also meet with Village Bank Mortgage CEO and President Jerry Mabry. During their discussion they agreed that “…housing has never been more affordable. Real Estate values are the… Read More »

Job Openings show improvement

According to the Job Openings and Labor Turnover report (JOLTS), the number of job openings in September was 3.4 million, up from the August reading of 3.1 million. Although the number of job openings is still below the pre-recession reading of 4.4 million in December 2007, there has been significant improvement since the low in… Read More »