Letting Bankruptcy Judges set Mortgage Rates? - 12/22/08 12:13 PM
An article caught my eye this weekend regarding the push to (once again) allow Bankruptcy judges to change the terms in a Mortgage Contract to help folks in bankruptcy. While I can feel for many who are struggling with Foreclosures, I feel this will just push folks who are facing foreclosure to file for Bankruptcy and take a chance with a Judge on getting a better rate. AND in the end, the money they save by lowering a payment goes out the window to pay a lawyer. Not to mention everyone else's Mortgage Rates increasing as banks have to cover for … (4 comments)

Mortgage Rate "movers" for the week- 12/22/08 - 12/22/08 11:53 AM
During this Christmas week, all of the economic data will come out on Tuesday and Wednesday.
The final revisions to third quarter Gross Domestic Product (GDP) will be revealed on Tuesday. GDP is the broadest measure of economic activity. Both Existing Home Sales and New Home Sales will be released on Tuesday as well.
Durable Orders, another important indicator of economic activity, is scheduled for Wednesday, along with Personal Income. Consumer Sentiment and Jobless Claims will also come out before Christmas,probably Wednesday morning. 
Mortgage Securities markets will close early on Wednesday and Friday, and will be closed on Thursday. Since many … (1 comments)

Do you know your 2009 roadmap yet? - 12/16/08 11:12 AM
Had an eye-opening experience at a networking meeting I was at this morning. (Preface: as many who read my blog know, I've written about getting your business plan ready for next year NOW!)
The question came up the the 27 folks there...."How many have set their 2009 goals yet?" Only 4 people raised their hands (mine being one).
With 2 weeks left in this year.....only 4 of 27 people had any idea where they want to be by thius time NEXT year!
Do YOU know? Time is wasting away........
… (3 comments)

Mortgage Rate "movers" for the week- 12/15/08 - 12/15/08 10:07 AM
The big news this week will actually be packed into Tuesday, culminating with reports from the Fed meeting.
Expectations are for a 50 or 75 basis point rate cut, and the accompanying statement will provide the Fed's latest views on the state of the economy and the financial system. The Consumer Price Index (CPI), the most closely watched monthly inflation report, will also be announced on Tuesday. CPI looks at the price change for those finished goods which are sold to consumers. And the Fed numbers for Housing Starts is also scheduled for release Tuesday morning.
Industrial Production, an important indicator of economic activity, … (0 comments)

Using "Home Buyers Scouting Report"? - 12/09/08 11:55 AM
Just bcurious for some feedback from the 'rainers.....
For those agents who are working with "Home Buyers Scouting Report", how do you find the service? Do you get positive feedback from your clients? Does it help you "keep them in the fold"? Does it help you increase business?
I'm thinking of purchasing it for some of my good independent Realtors,  but I'd really appreciate feedback from some folks already using it.
Thank you in advance for your help!
… (15 comments)

Mortgage Rate "movers" for the week ahead- 12/8/08 - 12/08/08 11:22 AM
During the first half of this week, Pending Home Sales on Tuesday will be the only economic data reporting.
Import Prices and the Trade Balance will come out on Thursday.
Friday will be the big day with PPI inflation data, Retail Sales, and Consumer Sentiment. The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products. The Retail Sales report is a major indicator of spending levels by consumers, who account for about 70% of economic activity.
Treasury auctions and Fed speakers may also have an impact this week. We will see if the … (1 comments)

Word of the year: "Bailout" - 12/04/08 11:22 AM
A 'throwaway' item in the local newspaper caught my eye this morning. Merriam-Webster, the company that publishes dictionaries, selected "bailout" as its 2008 Word of the Year. That probably was a good choice.
According to the company, the word was selected because of the number of times it was looked up in the company's online dictionary. The company's website gives a five-word definition-"a rescue from financial distress." Merriam-Webster boiled it down to just 28 letters. For businesses, consumers, taxpayers, legislators and others, there are far more than 28 different meanings to the word.
Of course, each of those groups has different … (2 comments)

 
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Loren Johnson, CMPS

White Bear Lake, MN

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Waterstone Mortgage

Address: 659 Bielenberg Dr. #200, Woodbury, MN, 55125

Office Phone: (651) 226-4363

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