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mortgage markets: Which way mortgage rates? - 08/29/08 09:23 PM
Today interest rates ended the week trending upward. This is largely attibuted to a week of mixed economic reports.
Rates are always unpredictable in the short term and in the long term. Their movement is frequently seen by many as completely arbitrary. The general rule is that interest rates move directly in relation to inflation concerns of the bond traders on Wall Street as they react to various economic reports. 
During this week consumer spending slowed and personal income dropped. This movement would tend to slow inflation.
During the week Gross Domestic Product for the 2nd quarter was revised significantly upward to 3.3%. This movement … (2 comments)

mortgage markets: Bad mortgages first cause or first sign? - Reserve Board's new home loan policy - 07/15/08 10:41 PM
Mortgage defaults and rising foreclosures are among many troubling headlines in our economy, but can subprime lending problems really be the cause behind all these trends.
Amidst the clamor over mortgage and world financial markets, IndyMac failing, Fannie and Freddie woes, GMC layoffs, and the debate on the housing bill, the Federal Reserve Board approved the final rule for home mortgage regulations.
The final rule establishes a category of high priced loans and offers consumer protection for loans in that category.
•1.       Must base lending decision on borrower income and assets
•2.       Income and assets used to qualify must be documented
… (6 comments)

 
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Richard Smith FHA VA Rural Development in TN GA

Chattanooga, TN

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