federal reserve: THE MORTGAGE AND REAL ESTATE BUSINESS IN MICHIGAN - Take what we used to know.....
- 01/25/08 06:27 AM
.....AND THROW IT IN THE TRASH!!! I have been in the mortgage business for 9.5 years now and I feel like a brand new Loan Officer. In the state of Michigan, Fannie Mae has ruled that MOST of our state is considered an area of "declining markets." They say MOST of the state of Michigan is but I haven't ran across a zip code that ISN'T. So the days of No Money Down programs in Michigan in the Conventional Loan world is gone. Yes, the lenders offer them but Fannie Mae is saying that if a home is in an area of … (0 comments)
federal reserve: Mortgage Market Update - Wednesday, October 31st - Happy Halloween!
- 10/31/07 02:16 AM
So how many of you spent time this week raking ALL of your leaves! In my neighborhood, we have a ton of trees and it's a beautiful place to live. But in the fall? Let's just say it's not my FAVORITE time of the year! But at least a 3 foot child won't disappear in my front yard because of all of the leaves! Now to business........... Today is Fed day. At 2:15pm ET, the Fed will release it's monetary policy decision and statement. Meantime, Bond prices are trading a little lower, currently -9 basis points, on some hotter than expected economic news. Third quarter GDP was reported at … (1 comments)
federal reserve: Mortgage Bonds and Cedar Point's TOP THRILL DRAGSTER -- How are they similar?
- 05/31/07 04:29 AM
Cedar Point's Top Thrill Dragster has a 420 feet (42 stories), 120 mph drop. It is a TOTAL blast for anyone who is a roller coaster fanatic like myself. But at least the Top Thrill Dragster stops. Mortgage bonds continue their downward trend in pricing / interest rate increases. Bonds are currently down -16 basis points so we expect rates to increase. Yesterday, as we expected, the Fed Minutes from May 9 stated "nearly all participants viewed core inflation as remaining uncomfortably high," and "all participants agreed the risks around the anticipated moderation in inflation were to the upside." Even though the … (1 comments)
Try and keep cool today, folks....it's going to be a hot 91 degrees today. Summer is definitely here! "You can't triple stamp a double stamp Lloyd!" ...from the smash comedy hit, Dumb and Dumber. But that's just what the Chinese government did. In an effort to cool off the red hot stock market in China, the Chinese government decided to triple its "stamp tax" on stock trading transactions. Basically, this means it will cost Chinese investors more money to execute a stock trade. This event sent the Chinese stock market tumbling and the ripple effect has applied some modest … (0 comments)
federal reserve: Yesterday's Fed Meeting and What Else Is Effecting Bonds Today
- 05/10/07 03:48 AM
Just as we mentioned in yesterday's Daily Update, we knew the Fed would not make any changes to the Fed Funds Rate following yesterday's meeting - and sure enough, the Fed voted to leave monetary policy "as is", with the Fed Funds Rate held steady at 5.25%. However, it was the tone of the Policy Statement that was in question...and indeed, although the statement was short, it was not so sweet for Bonds, which declined a bit following the release. Why? Because the market was looking for a little love from the Fed, particularly in regards to inflation. Recent inflation and wage data has all been friendly, … (2 comments)
.....AND THROW IT IN THE TRASH!!!;)
;)
