mortgage rates: Unemployment and the Recession Have We Hit Bottom?
- 09/04/09 02:33 AM
In an interview with CNBC this morning, Nouriel Roubini, a leading Global Economist, speculated that today's job numbers, though dismal - could be setting us up for a U shaped recovery. This is interesting, as others on CNBC this morning, also speculated that we've hit the bottom, and are due for a bounce upwards. In fact, according to the Bureau of Labor Statistics: "Although job losses continued in many of the major industry sectors in August, the declines have moderated in recent months." What this means for the Immediate Housing Market: Fortunately, or Unfortunately, housing has ALWAYS been tied … (10 comments)
mortgage rates: Why Won't Rates Get BELOW 5% and STAY there?
- 08/04/09 04:07 AM
So many people are waiting for mortgage interest rates to get below 5% - and then they will Refinance - Or THEN they will purchase... Well, with rates in the LOW 5's... NOW might be the time to act! The thing that keeps rates ABOVE the 5% rate is simple... there are indications that the economy is recovering! (Good News in the Economy is Bad News for Mortgage Interest Rates) "The ISM Manufacturing Index improved to 48.9 in July, jumping more than 4 points from the June score and marking the fourth straight improvement. This indicates that overall conditions remain in contraction for … (2 comments)
mortgage rates: LOCK Stocks Will Probably Rally 9/17
- 09/16/08 09:04 AM
Great news! Looks like the AIG issues could be solved by the end of the day... also looks like Hank Greenburg (who ran the company for years and was forced out) might take the helm again! Wall Street will likely see this news as Good News! The Fed decided to leave rates alone - although they pumped liquidity into the market today. Wall Street will likely see this as MORE Good News! Here's what that means to interest rates. Mortgage Interest rates are pushed lower when there's BAD news in the Economy. Good News usually means Higher Rates. So I'd Lock 'Em … (7 comments)
mortgage rates: NAHB Looking For Grassroots Effort
- 06/17/08 01:36 AM
The National Association of Homebuilders believes we need an Emergency Stimulus Bill... afterall, housing starts are at the lowest since 1991 (and as Tanta notes "completions followed starts off the cliff...). The package, according to NAHB needs to include a "temporary tax credit for HomeBuyers," and, in thier Online Newsletter, they urge all members to contact their Representatives as part of a ground swell grassroots efforts. Apparently CTX has already sent 6000 letters! "At the top of the list of provisions that are needed, he said, is a temporary home buyer tax credit to stimulate home buying and reduce excess inventory. To maximize … (3 comments)
mortgage rates: Compensating Factors and FHA
- 06/10/08 12:25 PM
I was at a seminar today that reminded me of one of my favorite things about FHA... the 5th C of Credit! We've all heard about the other 4 C's. Cash: How much can you put into the property, how much have you saved? Credit: Do you have a credit history? If not, FHA will accept some non-traditional credit. Do you have a spotless credit history? If not, FHA might still be willing to insure your loan! Collateral: Do you have a property FHA wants to insure? Character: Have you moved 8 times in the last 3 years? Do you have … (3 comments)
mortgage rates: Lessons of Leadership
- 05/20/08 05:37 AM
The Cary YMCA recently passed the baton from one group of leaders to another... the most interesting part was that these leaders were anywhere from 12 to 17 years old. The YMCA has a wonderful Leaders Club program for Middle and High School Students that creates interaction with over 75 students who volunteer each week and work to be leaders among their peers. We loved the banquet, and the intereaction we've had with our daughter through this program. I want to share their creed, and encourage parents with students who live in a community with a Y to explore the Leaders … (8 comments)
mortgage rates: Cheaper Gas and Lower Rates
- 04/29/08 10:12 AM
I think we really need lower interst rates, and so I'm still sniffing around for bad news in the economy... the President mentioned again today that we're in "pretty decent shape", and the economists are predicting that tomorrow the Fed will do a "one and done," signalling that fear of inflation is stronger than the worries about the economy slowing down more. Well, I think there might be a flaw in that logic. Don't get me wrong, the weak dollar is undoubtably a leading cause of higher gas prices - but did you see the earnings reports from the GAS COMPANIES TODAY?? … (13 comments)
mortgage rates: COUNTRYWIDE is causing rates to go UP!?! update
- 01/10/08 09:01 AM
see comments.... I've never been a big Countrywide fan - but I've told EVERYBODY that when Countrywide goes under - it's like WalMart going out of business - we're in DEEEEP CaCa at that point. So this just in from CNBC By LESLIE WINES updated 12 minutes ago NEW YORK - Treasury prices fell sharply Thursday after stocks advanced on news that Bank of America Corp. might buy struggling mortgage lender Countrywide Financial Corp. The news was viewed as a sign that troubles in the hard-hit mortgage and housing sectors may be contained soon. The sense that economic relief may be imminent was … (5 comments)
mortgage rates: Refinance and Earn Holiday Dollars
- 12/03/07 09:40 PM
There are multiple reasons to refinance now - especially if you have an EQUITY LINE on your home that is not getting paid down... rates are lower than they've been in a couple of years and Fannie Mae and Freddie Mac are going to be ADDING FEES that amount to at LEAST an additional point next year... but these aren't the ONLY reasons to consider a refinance NOW. With holiday shopping days upon us, many folks are trying to figure out where that extra cash for presents will come from! Gas prices have eaten up the extra 500 to 600 dollars … (1 comments)
In an interview with CNBC this morning, Nouriel Roubini, a leading Global Economist, speculated that today's job numbers, though dismal - could be setting us up for a U shaped recovery. 
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