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mortgage interest rates: Do We Need The $8000 Tax Credit Extended? A Comprehensive View - 10/22/09 11:30 AM
I've just spent several hours reading about the Economy and here's what I've come up with (Sorry it's so long):
The Fed Released the Beige Book, on October 21, 2009. It begins with this statement:
"Reports from the 12 Federal Reserve Districts indicated either stabilization or modest improvements in many sectors since the last report, albeit often from depressed levels. Leading the more positive sector reports among Districts were residential real estate and manufacturing, both of which continued a pattern of improvement that emerged over the summer. Reports on consumer spending and nonfinancial services were mixed."
Well, that's not too surprising … (42 comments)
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mortgage interest rates: First Time Homebuyers - Don't Just Check On The Rate! - 09/14/09 04:30 PM
There are tons of first time homebuyers out there negotiating the best deal on their new home, and now it's time to get a mortgage.
Most of them only know how to ask one question: What's the Rate?
We've been in the mortgage business for over 20 years - and the only thing most people know to ask is - "What's the Rate?"
While that's a great question, it's kinda' like going into a shoe store and asking if they have any shoes in a size 9. Just shopping the rate is not necessarily going to get you the best … (27 comments)
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mortgage interest rates: Unemployment and the Recession Have We Hit Bottom? - 09/04/09 09:33 AM
In an interview with CNBC this morning, Nouriel Roubini, a leading Global Economist, speculated that today's job numbers, though dismal - could be setting us up for a U shaped recovery.
This is interesting, as others on CNBC this morning, also speculated that we've hit the bottom, and are due for a bounce upwards.
In fact, according to the Bureau of Labor Statistics:
"Although job losses continued in many of the major industry sectors in August, the declines have moderated in recent months."
What this means for the Immediate Housing Market: Fortunately, or Unfortunately, housing has ALWAYS been tied … (10 comments)
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mortgage interest rates: 4 Reasons Why You Should Refinance Anyway... - 08/17/09 10:56 AM
Why you might need to refinance:
#1: If you have an equityline - you should probably get rid of it if you can. Equity Lines allow you to pay interest only. I've been a mortgage lender for years, and people "want" to pay the equityline down, but normally they don't. In our area, the maximum FHA loan is $295,000. If you have a 1st mortgage at 5.625%, you might think it doesn't make sense to refinance with rates in the low 5s (today) - but if you look at the EQUITYLINE (or second mortgage) you have - then we might be saving … (2 comments)
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mortgage interest rates: Solid Good News about Existing Home Sales! Yippee! - 10/08/08 03:32 PM
Sarah Eubanks came across some Economic GOOD NEWS on a day when we need it! Maybe we're nearing the bottom!
Via Sarah Eubanks ~ Preferred Oregon Loan Consultant & Notary Public:
In today's economic turmoil and heated political scene, we rarely hear news that is uplifting or encouraging. This morning - today - is not any different. I wanted to share with you a glimmer of hope which I found on the MSNBC website today.
While researching the emergency rate cut enacted by the fed this morning, I stumbled across this article claiming, "Breaking News" , but oddly I have not … (3 comments)
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mortgage interest rates: When Mortgages Get Sold - 09/21/08 01:48 PM
In details released Saturday night of the Paulson Plan, the Treasury intends for us to bailout anyone who purchased "bad" loans. So if you purchased mortgages backed by real estate in the United States, but you live in Dubai, or Spain - our govenrment will include you in the bailout too?
According to Housing Wire "In particular, a section of the fact sheet suggests that U.S. taxpayers may be on the hook for the bailout of foreign corporations as well as those in the U.S. - a significant change from the language sent to Congress in the Treasury's original proposal."
I guess … (9 comments)
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mortgage interest rates: Do YOU Feel More Secure? - 09/19/08 02:18 PM
Sec. Paulson has been busy! And my gut feeling is that I don't fully grasp a good part of what is being done, what the implications are for mortgage rates, housing affordability, job creation and increased taxes. This is kinda' frustrating to me - because I genuinely work to understand our complicated Economic System.
I know that yesterday there was a moment of "no bid" on the LIBOR... this is bad news. LIBOR is the London Interbank lending rate. Meaning the rate Barclay's (for instance) might lend money to HSBC. This means at NO RATE was anyone loaning money. Similar issues where … (14 comments)
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Eleanor Thorne 919-649-5057 Cary Mortgage Loans
Cary,
NC
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Steve Thorne NC Mortgage Experts
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