Is that Goldilocks?....Economic Update - 04/21/07 12:32 PM
 
 
The Feds perfect economy mix of "not too hot, not too cold" could be a reality after Wall Street reached all time highs today with exuberant earning reports. Confidence in our economy seems to be returning with positive economic news. The effect of subprime loans and fear of foreclosures has been abated with the announcement that Fannie Mae and Freddie Mac are spending billions to help homeowners restructure their current loans with more manageable terms.  Fannie and Freddie, the largest purchasers of conforming loans in the U.S. dodged a bullet by staying out of the subprime arena during 2004 and 2005 … (2 comments)

Getting Buyers Off The ....Mortgage Update - 04/19/07 02:00 PM
Get off that fence!   Interest rates are still at historic lows.  Even If housing prices do come down, that difference could be eroded by higher rates.
  
The difference between the payment on a $225,000 loan amount with a 6.250%  to  8.250% is over $300.00 per month!!
 The following are interest rate averages over the past 23 years:
 1983        1989           1995          2000            2002             2004          2006          Today
 13.40%   10.89%      9.33%       8.32%       7.30%          5.88%     6.250%      6.250%
… (3 comments)

You Know It is Bad Day.......Economic Update - 04/10/07 01:11 PM
The Federal Bureau of Investigation has showed up at more than one lender's office over the past few weeks.  This week Beazer Homes was targeted for its lending practices.  New home builders have had it their way for many years.  Often forcing buyers into undesirable loan programs and coercing them into paying higher loan costs or they would lose the builder "incentives".  Buyers were terrified to lose the sometimes unbelievable amount of builder incentives (think monopoly money) and took loans that did not fit their budget or circumstances.  Some buyers were instructed to "take this loan" and then refinance in a … (0 comments)

Whistle While.....Economic Update - 04/07/07 12:49 PM
People are out there working!  The Wall Street soothsayers were stunned that today�s unemployment report reflected an additional 180,000 jobs in March exceeding all expectations. And the employment numbers for January and February were both adjusted upward.  So what happened to the economic downturn?  It didn't get the memo.   Ben Bernanke, our Fed chair, must be doing the happy dance (visual) since the numbers validate his prediction of moderate growth.  The down side is that the 10 year bond market (30 year fixed rates) did not like the news because it means that Mr. Bernanke probably will not a have a reason … (1 comments)

 

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