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76226: New Appraisal Rules Hit Home Hard - 07/28/09 02:19 PM
The Home Valuation Code of Conduct (HVCC) became effective on May 1st in an effort to insulate the appraisal process from influence by any of the parties that may have an interest in the outcome. So...what is wrong with that?   
Recently, the National Association of Realtors (NAR) conducted a survey...and...well, the survey results weren't so good, however they came as no surprise to realtors, lenders, and mortgage originators.
Here's just a few of the results:
76% report the time to obtain a completed appraisal has increased an average of 8 days. Lost sales are reported by 37% of respondents An increase use … (1 comments)

76226: Who Moved My Cheese.... - 07/14/09 10:20 AM
Better than expected earnings from Corporate America, higher Retail Sales and a hot Producer Price Index has moved our 30 year Mortgage Back Security from the cheese platter to....the waste basket?  Oh no....
The producer price index is a reading on wholesale inflation.  The headline number was hot and after stripping out energy and food, the core number was quite a bit better than expected.  Of course there still is no fear of inflation just yet, but today shows us that any suggestion of future inflation can ruin the day in the bond markets.  Tomorrow will get a better idea of … (0 comments)

76226: Mortgage Bonds Bust a Move... - 07/08/09 04:13 PM
Mortgage Backed Securities (MBS) are moving again!  Over the past several days, MBS have been improving as stocks continue their struggle.  Today's bond auction was well received which has helped fuel a beautiful rally today, giving Bonds the needed momentum to break above some tough overhead resistance.  The past few days gains have brought rates back...well, almost back...to the levels of one month ago.  
Rumors of a 2nd stimulus plan hit the wires just days ago and the chatter continues.  The first stimulus plan was aimed at Banks, Automakers, City and State governments.  New reports indicate that it also put more … (0 comments)

76226: Mark-to-Market Changes Give Financials a Boost - 04/02/09 10:07 AM
Finally!  Changes to Mark to Market are coming.  The Financial Accounting Standards Board (FASB) voted favorably to relax mark-to-market and help financial institutions. Financial companies will now be allowed to use alternate models, like cash flow analysis, in marking their assets.  No longer will institutions be limited to using last-sale data in marking assets.  This enormous change will significantly reduce the write-downs banks have been taking on investments like mortgage-backed securities.  You can revisit my blog post of December 29, 2008 to learn more about mark-to-market and its impact on our current environment.
This change to mark to market is effective … (0 comments)

76226: Welcome Back, Carter - Tax Move May Hurt Home Purchases, Despite Historic Low Rates - 03/01/09 07:15 PM
I must admit, I'm still scratching my head trying to figure out how an annual income of $250K was determined to be associated with someone "rich" and "wealthy".
The move to increase taxes and limit deductions will have far reaching impact. 
I agree with NAR that there could be further erosion of home prices and values as home ownership doesn't look as sexy anymore.    
It's clear that Obama and his team believe that people making over $250K per year are "rich"...however there is a huge separation in this income level and the real rich.  
By the way, approximately 80% of … (1 comments)

76226: Jobs Slide Again - 02/06/09 09:21 AM
This morning the all important Job Report was released and it was ugly...worse than expected.  The 525,000 forecast came in at a loss of 598,000 jobs.  This is the greatest job loss since 1974. 
Job losses for all of 2008 were also adjusted higher...at 3 million.  The government said employment at the end of the year (08) was 138.2 million, a little bit better than initially reported. 
Our unemployment rate jumps to 7.6% and the highest unemployment rate since September 1992.  But wait...7.6% represent those who are unemployed and looking for work.  After adding in those who are too discouraged to … (2 comments)

76226: Where is the 4.5% Interest Rate? - 01/29/09 10:13 AM
Yesterday it was no surprise when the Federal Reserve said they would keep the Fed Funds Rate steady at 0 to .25%.  However, the committee did offer some positive expectations for homeowners.  They said that they continue to anticipate that "inflation pressures will remain subdued in coming quarters".  This forecast on inflation is bond friendly and will help keep home loan rates low.
The Fed said they will continue to purchase large quantities of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets.  They went on to say they "stand ready to expand the quantity of … (1 comments)

 

Elizabeth Rose - Certified Mortgage Planning Spec - Texas

Highland Village, TX

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Network Funding, LP

Address: 2800 Corporate Drive, Suite 101, Flower Mound, TX, 75028

Office Phone: (972) 244-3121

Cell Phone: (972) 345-3268

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An inside look at the mortgage market and how it might affect you.


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