mortgages: Foreclosures Not as Bad as Looks - 10/01/08 12:23 PM
Much of the Country is Doing Better
Although the rate of mortgage foreclosures hit another record high in the second quarter, as well as loans in foreclosure process, a closer look is telling. The Mortgage Bankers Association reports; Only eight states, Nevada, Florida, California, Arizona, Michigan, Rhode Island, Indiana and Ohio, … (2 comments)
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mortgages: Biggest Financial Bailout in US History - 09/07/08 02:17 PM
Secty of the Treasury Paulson said then that Washington would buy up shares in the two companies and underwrite their ballooning debt ($800bln). The two companies have lent or underwritten about $5.3 trillion of the total $12tn of all outstanding mortgage debt. Something like 4 million homes or 9% of … (8 comments)
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mortgages: How Long Will We See Declines: Try 2011 - 09/02/08 07:14 PM
Housing Wire, one of the better blogs, has a scary article on ARM resets. Fitch is a highly respected credit rating service, similar to the work of Moody's or Standard and Poors. A rating agency providing iindependent credit opinions. According to Housing Wire, Fitch is reporting that this will not end … (7 comments)
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mortgages: Freddie Mac: Long- and Short-Term Rates All Well Above Figures This Time Last Year - 07/17/08 12:41 PM
30-year fixed-rate mortgage: Averaged 6.37 percent with an average 0.6 point for the week ending July 10, 2008, up from last week when it averaged 6.35 percent. Last year at this time, the 30-year FRM averaged 6.73 percent.
The 15-year fixed-rate mortgage: Averaged 5.91 percent with an average 0.6 point, … (0 comments)
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mortgages: Freddie Mac and Fannie Mae: An Update. - 07/12/08 03:26 PM
Freddie Mac and Fannie Mae have lost most of their stock value in the past year. Investors are looking at the commitments they have been made and are uncertain that the twin companies actually have the financial health to keep those commitments. As the primary source of funds for home buyers … (0 comments)
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mortgages: Harvard 2008: State of the Nation's Housing - 06/25/08 01:20 PM
According to the recently released Harvard Study we have more dislocation to come before we see home markets reach an equilibrium that begins to bring buyers back. In the overheated markets of 2003–2005, house prices surged ahead of incomes and new construction outstripped sustainable long-term demand.
But when the Federal Reserve … (0 comments)
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mortgages: Mortgages Now Starting to Seriously Drop - 01/24/08 10:37 PM
Fixed Rate Mortgage Rates Plummet - 30-Year and 15-Year Fixed Rate At Lowest Level Since Spring 2004
According to Freddie Mac website:
McLean, VA Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®)
1. 30-year fixed-rate mortgage (FRM) averaged 5.48 percent down from last week when it averaged 5.69 … (0 comments)
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mortgages: The Sub Prime Mess: Here are Some Amazing Numbers - 01/09/08 05:36 PM
Sub prime Loans were intended to allow borrowers with weak credit records the benefits of owning a home. However, you always have to look out for predatory business practices. They exist in every industry and bloom in boom times. A typical predatory mortgage is a refinance of an existing loan that … (6 comments)
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mortgages: The Markets are Telling us Something: Followup - 10/20/07 02:29 PM
Yesterday the markets took a real tanker, dropping over 366 points on more bank losses. Wachovia reported a 10% drop in income and a 1.3 billion dollar loss, much better than the Citigroup loss of almost 57%.
Given the bank reported losses of recent days this wasnt as bad as it … (0 comments)
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mortgages: The Markets are Telling Us Something Different - 10/18/07 05:37 PM
The big banks have reported earnings and what is clear to me are three things:1. They lost a bundle: Bank of America corporation chalked up big charges due to credit-related turmoil. They lost something like 33% this quarter, suggesting that the problems in the credit market may yet be closer … (1 comments)
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mortgages: News You can use: Foreclosures Are declining - 09/15/07 03:45 PM
When in a painful downtrend, we naturally look to find any good news we can. Now, we know the press will write emotional headlines and sell papers and this just exaggerates the trend...however
The Sept Mortgage Bankers Association press release reveals some unexpected good news. Its hard to imagine any good news … (2 comments)
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mortgages: News You Can use August 11 2007 - 08/11/07 02:13 PM
The Mortgage Crunch is on: Following the stock markets is a good way to understand whats next. We have a full on panic right now and the mortgage originator and mortgage hedge fund owners will continue to show us weakness. Although the Fed and other world banks have injected a lot … (0 comments)
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mortgages: News Updates You Can Use July 10 2007 - 07/10/07 02:05 PM
Periodically, I come across news that I think is really useful or informative that I think is good enough to share with all of you. here's a few good ones!
Where Housing Prices Are The Most Likely to Fall
By Lauren Baier KimMost overvalued U.S. marketsAs the housing slowdown continues, which state has … (0 comments)
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mortgages: Short Sales are for Tough Times - 06/07/07 04:04 PM
Many areas of the country are seeing an alarming increase in foreclosures. There are quite a few options that can minimize the damage done by such a loss. The short sale is one, but beware it is not for everyone.Home prices: More pain to come: The outlook for home prices this … (2 comments)
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