Could Rates Be Ready to Fall Again? Treasury / Mortgage Spread Hits Widest Point - 02/29/08 09:52 AM
The spread between 30-year fixed mortgage rates and 10-year treasury yields hit its highest point in over a year in the week of February 25th, at 2.52%. Mortgage rates averaged 6.24% while treasuries closed Thursday at 3.72%.
I have been tracking the spread between 10-year treasury yields and 30-year fixed mortgages since January, 2007. … (9 comments)
|
Interest Rates and the Pure Expectations Theory - 02/27/08 08:27 PM
(WARNING: this article is long and detailed, and ends with a lot of math. If you want something short and mathless, please visit my article about cell phone plans getting cheaper.)
Last night, I lectured my Introduction to Financial Services class regarding several topics, one of which was the relationship between current and … (0 comments)
|
2008 Economic Outlook Breakfast: Opinions Negative, Research & Technology Key to RI Emergence - 02/27/08 09:35 AM
I attended the Sovereign Bank Economic Outlook Breakfast this morning at the Providence Westin. This is the 3rd year I've attended this event, and each year seems to bring a larger crowd. The event's purpose is to unveil the results of a survey conducted in the 4th quarter of the year … (2 comments)
|
Fed Cuts Rates, but Mortgage Rates Go Up? - 02/25/08 10:59 AM
CNN this morning reported on a new "conundrum" faced by the Federal Reserve. Industry veterans will recall 2-3 years ago when then Fed Chief Alan Greenspan noted the unfathomable disconnect between bond yields and Fed rate moves. Now Ben Bernanke is faced with the prospect of his moves having a similar, … (2 comments)
|
$729,750 is the New Jumbo: Update - 02/25/08 10:51 AM
Last week, we received word from one of our lenders regarding their interpretation of the new Jumbo mortgage rules included with the economic stimulus plan. Here's what will be happening:
HUD will release Median Home Prices for the country within the next 30 daysConventional limits will increase to the higher of the … (0 comments)
|
Want to lower a big expense? Major cell phone carriers offer unlimited calling for $99 - 02/22/08 04:34 PM
In a break from their old habits, major cellphone carriers Verizon, AT&T, and T-Mobile all announced new plans Thursday aimed squarely at people who use their phones a lot. Anybody on this site use their phone more than 2000 minutes? 2500? 5000? Under the new plan, Verizon and AT&T are offering unlimted … (9 comments)
|
FHA Mortgages - It's What's New at Province Mortgage Associates - 02/18/08 11:40 AM
I would like to share with you today a little bit of what we've been working on at Province over the last 4 weeks. We received approval from HUD to begin offering FHA mortgages in the middle of January, however, rather than beginning immediately to pursue applications for those loans, we … (1 comments)
|
US Presidents' Housing Achievments (and a rate update) - 02/18/08 11:02 AM
Good morning!
This Presidents' Day is a wet and windy one here in Rhode Island. Today, in addition to a brief interest-rate market recap and preview, I thought I'd bring you a history of significant events in United States housing history, and the Presidents who effected those changes.
In 1862, Abraham … (0 comments)
|
Bernanke speaks to congress - 02/14/08 12:55 PM
Treasury Secretary Hank Paulson joined Federal Reserve Chief Ben Bernanke in congress today, and said that they don't expect the US economy to experience a recession in 2008, rather they see slowing growth, with a total increase of 1.8% over the 2007 Gross Domestic Product increase.
The market was not impressed. … (0 comments)
|
Rates on a Bungee Cord - 02/11/08 12:52 PM
Last week held out my expectation that the market is looking to move long-term interest rates higher, as rates increased close to 0.25% from Monday to Friday. There was a substantial disappointment with service industry growth Tuesday, which led markets to open with lower rates, but as the day wore on, … (0 comments)
|
$729,750: The New Jumbo (for now) - 02/11/08 12:27 PM
That's right, the economic stimulus package will be in effect shortly, and with it will come the ability for Government Sponsored Entities Fannie Mae and Freddie Mac, along with the Federal Housing Administration (FHA), to increase their loan purchase limits significantly in higher cost areas. Sure, more of us are thinking … (2 comments)
|
This week's econmic updates -- Could rates be 1% higher by June? - 02/04/08 11:20 AM
Good morning!
After a very busy couple of weeks, expect this week to be much quieter. Like Punxatawney Phil (who saw his shadow, and is back to sleep for another 6 weeks), the market looks to be substantially quieter this week than it was last week.
Here's a quick rundown of … (3 comments)
|
Buyers' Bonus Mortgage Program - No Principal or Interest for 6 months! - 02/04/08 11:05 AM
I wanted to share something with you today. It's a program that you might have heard of before. I hadn't made it a priority recently, as many of the lenders I recall offering it had suspended it, but one of our biggest lenders has recently reinitiated the Buyers' Bonus mortgage program. … (7 comments)
|
Rollercoaster updates; Radio Tomorrow! - 02/01/08 04:47 PM
Good evening!
I hope your week was as interesting as mine was. After taking all of last week off for vacation, there's nothing like coming back to the flu to get off to a good start. The market certainly made it worth hanging in and watching.
Earlier this week, I told … (3 comments)
|
;)
Links;)
Tags (Tag Cloud);)
Archives
