mortgage market: Mortgage Rates: Where Are They Headed? - 12/09/08 12:01 PM
I am glad to see that there are many more mortgage professionals taking a step out there and providing mortgage market commentary. While many are simply rehashing what they receive in scripts emailed to them, some have managed to truly demonstrate expertise and provide their own insights, something I have been … (0 comments)
mortgage market: Are You in Parity with a Loonie, and Should You Care? - 09/25/07 09:09 AM
Many of you are in fact on the same level as a Loonie. Ok, maybe not you, but the money in your wallet is. So, what is a Loonie? A Loonie is the Canadian Dollar and it has always (or almost always anyway) been worth less than the US Dollar. So, it … (7 comments)
mortgage market: Why Aren't Homes Selling? This Should be a Clue - 09/21/07 12:52 PM
Ever wonder why there doesn't seem to be any homes being sold in your area? Granted some areas are doing well, but a survey released today from Reuters/University of Michigan provides an insight as to one possibility. The survey revolves around the homeowner's perception of their own home values and the headlines … (4 comments)
mortgage market: Will the Fed Regret Cutting Rates? - 09/20/07 11:10 AM
With the 50 basis point cut on the Fed Funds Rate, what is going to happen, and could it ultimately have the opposite effect? Sure, it will help many ARM holders, as well as those with HELOCs, credit card balances and some others. But what about the long run? It hurts those … (5 comments)
mortgage market: Government Reacts Now That Enough "Blood" Has Spilled - 09/20/07 11:07 AM
It never ceases to amaze me how much the government reacts, usually overreacts, to things long after they have been done. Take the subprime mortgage meltdown, for instance. No reaction until enough turmoil (bloodshed) has developed and after it spilled over beyond the "subprime" sector, which had been forecasted, even by … (2 comments)
mortgage market: Finally, Reality Gets Some Recognition - 08/30/07 11:17 AM
I have talked to many a person, probably even blogged about it, but the media is finally letting the news out. That is about the reality surrounding foreclosures. We have heard time and time again about the rampant increase in foreclosures and we even hear the government talking about the need to … (2 comments)
mortgage market: OK, Apparently not Everyone is Getting it? - 08/30/07 09:50 AM
What am I talking about? How mortgage interest rates are driven. I continue to see so-called experts, politicians, etc. stating that a Fed rate cut will help adjustable rate holders. That is not the reality. What drives mortgage rates are Mortgage Backed Securities (MBS). These are the bonds that are a "package" … (2 comments)
mortgage market: Dilbert and the Mortgage Market: Can You Relate? - 08/13/07 04:07 PM
This Sunday's paper had a Dilbert cartoon strip that caught my attention and related directly to how mortgages are being offered in the name of "competition". The Dilbert cartoon was about the boss asking Dilbert to prepare a proposal that is full of lies and which if they were to win, … (3 comments)
mortgage market: Mortgage Market Meltdown: Is the World Really Coming to an End? - 08/11/07 12:44 PM
It is hard to turn on the TV or radio and not hear about the turmoil happening in the mortgage markets and real estate these days. But, is what you are hearing really blowing it out of proportions? Down here in Florida, particularly in South Florida, it may have more of an … (7 comments)
mortgage market: Fannie Mae Unable to Assist Mortgage Market's Problems - 08/11/07 10:34 AM
Late yesterday, The Office of Federal Housing Enterprise Oversight denied Fannie Mae's (FNMA) request to increase its portfolio beyond the $727 billion limit currently in place (as of May 2006). This was despite arguments from senior Democrats and the company stating that the change would provide much needed stability in the … (5 comments)
mortgage market: Mortgage Market Meltdown - The Saga Continues - 08/03/07 07:55 PM
No doubt you have been hearing a lot about the changes taking place in the mortgage market over the last 4 days involving every loan except conventional conforming ones. My previous post, Mortgage Market Meltdown - Will it be Subprime Only? (dated July 11th), talked about how the effects of the … (5 comments)
mortgage market: Florida Mortgage Market - Forecast for the Week - 07/30/07 09:01 AM
Stock earnings reports will continue this week which could create some volatility as it has already. Additionally, there are several big potential market movers on the economic calendar for this week. The fireworks will begin on Tuesday with the Fed's favorite inflation guage, the Personal Consumption Expenditure index (PCE) to be released … (0 comments)
mortgage market: Mortgage Market Meltdown - Will it be Subprime Only? - 07/11/07 07:16 PM
Not a day goes by that you do not hear about the Subprime Mortgage Market disaster and how many people have lost their homes due to bad loans, dishonest mortgage lenders, etc. But will the effects only be felt in the Subprime Markets? The answer may surprise you. First, let's talk about … (8 comments)
mortgage market: Florida Mortgage Market Update - 06/05/07 10:02 AM
We remain in a LOCKING stance. Mortgage Bonds = -22bp. What do the "Coriolus Effect" and Bonds have in common? Well, the Coriolus Effect describes the whirlpool action that sucks water down in a circular fashoin and bonds continue to be "sucked down" as they remain in their downward channel. Ben Bernanke … (0 comments)
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I am glad to see that there are many more mortgage professionals taking a step out there and providing mortgage market commentary. While many are simply rehashing what they receive in scripts emailed to them, some have managed to truly demonstrate expertise and provide their own insights, something I have been … (0 comments)
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