Congressional Rescue - Why we need it and NOW! - 09/30/08 04:21 PM
While I’m at it, check the Bend Bulletin front page article on the rescue plan delay. “Local experts worry consumers could take a hit” Yesterday I spoke with Jeff McDonald of the Bulletin about the severe impact on Bend residents if the rescue plan is not enacted.  When we hide behind the thought that this is big guys on Wall Street getting bailed out, we are setting ourselves up for a disaster.  The corporations we are enabling with this are all of the retailers that are stocking shelves with millions of dollars of inventory.  They don’t have that money in their … (0 comments)

You have credit with us! Now IS a good time to buy! - 09/30/08 03:52 PM
Here is an interesting article from today’s Wall Street Journal by June Fletcher entitled “Is Now a Good Time to Buy a Home?”  Even though the author refers to the Credit Suisse analyst projections of stabilizing in approximately 18 mos (see the last 2 paragraphs), for the right person, NOW is the time to invest.  She describes a list of what-ifs that if your client can answer yes to, they are excellent candidates for taking advantage of today’s market.  If you have access to credit, have plenty of cash reserves, aren’t extended to the gills in real estate already, have secure, … (3 comments)

The Vote is in and No Deal! Dow is off 777! Will it happen? I believe YES. - 09/29/08 05:28 PM
The vote is in and it’s a “NO!” in the House, so there is still not a financial rescue plan.  Click here to see the Wall Street Journal article on the vote and the markets.  The Dow has now closed down 777 points at 10,365.  A bigger drop than the day after 9/11.  These are truly historic days on Wall Street.  Normally when we see funds coming out of the equity markets it will often flow into Mortgage Backed Securities (MBS) and improve rates.  But for now, MBS are not stabilized and money is choosing to go into Treasuries and by … (1 comments)

Historic, Unprecedented Actions - Explained! - 09/23/08 12:46 AM
Well, HISTORIC seems to be an understatement for the activity right now on Wall Street and Washington, D.C.  Certainly the biggest financial activity since Black Monday in 1987 and the formation of the Resolution Trust Corp in 1989.  I am sure you have heard and read much about the specifics of the rescue efforts so I will try to give you the mortgage-backed securities and long-term interest rate impact of these events to add to your knowledge-base of what’s going on. I hope you will be able to share this information with your clients in making significant financing decisions.  It is … (1 comments)

Big News in Mortgage World and Rates are Down ! ! - 09/08/08 11:45 AM
Wow.  There are Big Steps in the world of mortgage-backed securities to talk about today!  Yesterday’s historic move of the US Treasury stepping into Freddie and Fannie will have far reaching effects on the price of bonds. The near term effects are all positive. It’s all about risk-based supply, which in this case has been high risk and low supply of investors for Freddie and Fannie bonds.  Interest rates have been artificially inflated to attract needed investment into the mortgage giants.  And sure enough this morning, with the risk profile reversed, supply of investors has jumped up, willing to buy bonds … (1 comments)

Relief! As Gustav Moves Through Below Expectations - 09/02/08 01:45 PM
Good Tuesday morning!
Here’s a quick mortgage-backed security update for a holiday shortened week.  I hope your weekend was rewarding and that school is starting well for the kids.  There is BIG news this morning.  Remember that for long-term interest rates like mortgages, it’s all about inflation.  And for the past year, inflation has been all about OIL prices. Reaching highs near $150/bbl in the first half of July this year oil speculation turned around and we saw those prices recede to as low as $110/bbl by the middle of August.  But then turmoil in Georgia and, last week, fear of … (12 comments)

 
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Dave Woodland - Your Bend, OR Friendly, Knowledgable Mortgage Professional

Bend, OR

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Signet Mortgage

Office Phone: (541) 318-0888

Cell Phone: (541) 749-0006

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At least weekly, I write about what is happening that may affect interest rates and mortgage-backed securities for the coming days.


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