Mortgage Rates - 04/09/08 12:09 PM

Rates are holding stable. I believe the economy will be stimulated with an increase of home sales in the coming months. Only time will tell.
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Mortgage Update - 04/08/08 03:24 PM
 
On Monday it was rumored that a struggling Washington Mutual (WaMu) would be getting a cash infusion of $5 billion from a private equity firm to help it weather the subprime mortgage storm. On Tuesday that amount had morphed to $7 billion in additional capital from the sale of company stock.
The nation's largest savings and loan announced that TPG, Inc and a consortium of other investors were investing that amount in the company. WaMu, however, is far from out of the woods.
The company also announced that it will have a 1.1 billion quarterly loss and will undergo substantial job cuts.
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Feds Update - 04/08/08 11:09 AM
 
 Former U.S. Federal Reserve Chairman Alan Greenspan told Spain's El Pais newspaper on Sunday that chances of the U.S. economy slipping into a recession were now above 50% but the world's leading economy had not yet entered one.
Greenspan said, "In my opinion recession is a period of a sharp correction and a rapid decline in activity across many sectors of an economy coupled with the domino effect of a strong rise in unemployment. We haven't seen that in the U.S. yet, but it could happen."
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Mortgage Rates April 7th 2008 - 04/07/08 12:28 PM
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Frank Harris

Columbia, MD

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Keller Williams Realty Centre

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