Washington DC Activity Affecting Economy and Mortgage Rates - 11/24/08 11:12 AM
Happy Thanksgiving and I hope your short week is productive and then filled with warm family memories.  Here are some of the key actions we are watching:
Washington activity continues to dominate the economic landscape.  The Treasury, Fed and FDIC decided late last night to further back CITI with a lifeline of $306B on their debt and an injection of $20B. In exchange, US Taxpayer/investors are receiving $27B in preferred stock paying an 8% dividend. We are hopeful this one is a good investment. Obama selects Geithner from the NY Fed as Treasury Sec’y. This appears positive and has been well … (0 comments)

Mortgage Rates impact from the stock market swings explained - 11/21/08 02:15 PM
 Well the stock market continues to tumble and surprise with bad news.  Last week I saw something I had never seen before – the targeted price of a stock (GM in this case which makes it all the more unusual) was in an analysts report projected to be $0.00.  That’s right, nothing.  A couple of weeks ago Mattel, the maker of Hot Wheels cars made news when it had a market cap greater than GM and now it looks like most companies might.  This is a sad statement on a decades-slow response to market demands and workforce contracts.  Let’s hope there … (0 comments)

Deschutes County "Real Market Value" vs. Sales Price - 11/13/08 12:16 AM
Make sure you go to Cheri Smith's blog to see this fascinating observation on comparing the RMV's determined in January to some recent sales prices and the disparity between that ratio at the high end vs. the $200k price range.  I wouldn't have guessed it and would appreciate any theories on why this is.
Via Cheri Smith:
I recently performed a CMA for a homeowner and determined a list price in the $225,000 - $250,000 range. The homeowner was surprised the value was so low because her most recent tax statement provided a "real market value" (RMV) of $290,000. She was under the … (0 comments)

Economic Reports and Inflation (Deflation) have impact on Mortgage Rates - 11/12/08 11:30 PM
What a historic week this was!  No matter your political leanings, it is a time to push for optimism both internally and with people around you. It is also the beginning of the holiday season and that gives us the chance to pause and be thankful for our many blessings, to come together and support a new President elected through a time-tested, constitutional process, and to build optimism and hope even in troubling economic times.  
And we are seeing troubling times.  As the headline indicates, jobs were the key economic report of the week, and people who are well employed are … (3 comments)

Favorable bounce after the Fed rate cut. Look for another next month. - 11/04/08 02:16 PM
Fed Week was surrounded with a full-scale shift of funds from Mortgage-Backed Securities (MBS) into the stock market and elsewhere and with it we saw quite a negative move in bonds and rates.  But it seemed to find a floor after the announcement with a bounce favorable that continues into today.  As I mentioned in my News Flash on the announcement day, this is different from recent Fed rate changes in that the drop in rate didn't have a negative (opposite) effect on mortgage rates that are long-term and all about inflation.  Why not?  The Fed announcement wording reiterated what we … (3 comments)

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

Bend, OR

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Signet Mortgage

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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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