first time home buyers: GM files for bankruptcy and the stock market is up 211 points...GO FIGURE
- 06/01/09 09:59 AM
Here's a current observation from Your RED-Headed, Mortgage Guy, May was the third month in a row for stock market gains. Stocks have been appreciating as the credit freeze and bank liquidity crisis has eased, while a growing number of economic indicators have signaled a marked moderation in the pace of the economic decline. As one would imagine, this has not helped rates. As the pressure for higher mortgage rates has increased in recent weeks, investors have speculated that the Fed would step in to "defend" certain interest rate levels, but that hasn't happened. This week, Fed officials explained that their … (6 comments)
first time home buyers: What's the hold up with these low rates...
- 03/27/09 09:43 AM
Hello, your Red Headed Mortgage Guy, Dave offering some interesting information. I got this from one of my news sources that I found as an interesting read...ENJOY! What is the agent/broker on the street saying? "The bigger problem that continues to persist is the expectancy of rates to drop. Last week after the meeting that is all you heard about. ‘Bernanke was a genius.' ‘This will make the banks have to lend.' The banks do not give two hoots. They are calling their own shots and probably laughing as they got what they wanted and no one regulated them. Now they still cannot … (4 comments)
first time home buyers: "George Washington couldn't even get these interest rates."
- 03/19/09 10:36 AM
Hello Everyone, this is your RED-headed Mortgage Guy with news you can use. The BIG news that hit the market in the last 24 hours was that The Fed's plan to buy up to $300 billion of long-term government bonds and $750 billion in additional mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac. This was GREAT news and government bond yields plunged by their widest margin since the 1987 stock market crash. I was calling my clients last night telling them it was time to get off the fence here comes 4.5% interest rates. I had a few lenders quoting … (0 comments)
first time home buyers: Ch - Ch - Changes on the horizon
- 02/13/09 06:17 AM
Hello, your Red Headed Mortgage Guy, Dave offering some interesting information. Can you believe we are about to look back at the first month of 2009? 2009 without a doubt is going to be an interesting year in the real estate/mortgage industry. There have been a lot of discussions about the changes that are here or on their way, especially in my area, mortgages. We've seen interest rates drop in the past month to the mid-4% area, only to retreat back near 5%. I've read articles that say we should be seeing 3.5% interest rates if banks were lending at the same … (0 comments)
Here's a current observation from Your RED-Headed, Mortgage Guy,;)
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