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mortgage rates cary nc: If You Have An ARM, Pull Out Your Note - 09/17/08 04:58 PM
LIBOR is on the rise.  In fact, according to Bloomberg:
"The overnight Libor rate in U.S. dollars soared 3.33 percentage points to 6.44 percent today, its biggest jump in at least seven years, according to the British Bankers' Association. The one-week rate rose by more than a percentage point, to 3.88 percent from 2.49 percent on Monday, and the one-month rate increased to 2.75 percent from 2.5 percent."
Granted, most adjustable rate mortgages are not tied to the 1 day LIBOR... but most are tied to SOME part of LIBOR!  So I suggest that you get out your note, and look … (7 comments)

mortgage rates cary nc: Bernanke and Bush on Different Planets - 02/28/08 02:01 PM
 Did anybody else think it was a little ERIE this morning when President Bush was on ONE CHANNEL saying we're NOT headed toward a recession... (maybe he agrees with me that we're already in one?)
AND SIMULTANEOUSLY Ben is giving testimoney (on CNBC) to the Senate Banking Committee that, "The U.S. economy expanded less than forecast (only 0.6%) in the fourth quarter as domestic spending declined and only an increase in exports prevented an overall contraction."
Are these guys living on different planets??? 
Bernanke did say that the Fed is going to continue easing as necessary, but frankly, he's way behind the curve, and … (3 comments)

mortgage rates cary nc: Report Says Homes Not Appreciating - 01/29/08 08:56 AM
The S&P/Case Shiller Home Price Index showed the largest year over year loss in appreciation since the 20 City Index started in 2000.  Economist expected us to see a decline of 7.1% and the November data shows a decline of almost 8%.
In other housing news this week, Ryland Group Inc. Chief Executive Officer Chad Dreier said on a conference call that "The U.S. housing market is the worst in 30 years.'' 
Ryland, showed a fiscal fourth-quarter net loss of $201.9 million.The day after the conference call, Dreier said the housing market is ``too uncertain'' to offer an outlook and that the company will … (4 comments)

mortgage rates cary nc: Durable Goods Strong - 01/29/08 08:09 AM
 

 
Today the Federal Reserve begins it's scheduled meeting.  The Durable Goods Orders announced this morning was much stronger than expected.  This will likely cause rates to go up as part of the "Good News for the Economy is Bad News for Interest Rates!" Higher Durable Goods Orders means that there's demand for products being manufactured here in the US.
Consumer Confidence is the next report out today as the Fed meets... The potential checks from the Government announced last week could be in the Consumer Psyche, and if so the Consumer Confidence report due out at 10:00am could also be stronger … (5 comments)

mortgage rates cary nc: Crystal Ball for Mortgage Rates - 01/15/08 12:23 PM
I work with my husband  I and once bought him a crystal ball for his desk so that he could look at it and advise clients... at least I thought it was cute!
In the next few days CNBC thinks that Bernanke should lower rates based on the two sad reports that came out today.  Gold is nearing $1000 an ounce, and CitiGroup is going down the drain.
We all know that the American Public is getting older... and somewhere in the back of our minds I think we also realize that the future debt for Veteran Benefits is growing at a ENORMOUS rate! I predict that we will … (0 comments)

 
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