More than four years into the housing crisis, the powers that be finally have created new rules to make the short sale process easier and speedier.
Starting in June, mortgage servicers will no longer take months or years to respond [...]
Continue Reading... →The Good – In Spain – the country was able to successfully auction off 10-year Notes, albeit at a higher price, so the global markets are breathing a sigh of relief. But remember, Spain still has many big problems and we [...]
Continue Reading... →Mortgage rates stayed near record lows this week as homeowners took advantage of the opportunity to refinance.
The 30-year fixed-rate mortgage fell 1 basis point to 4.1 percent. A basis point is one-hundredth of 1 percentage point .
According to BankRate the [...]
When analyzed against a range of economic measures including Growth Domestic Product, there is little argument that the United States is a top country in the world. By comparison, smaller nations such as Europe’s Portugal, Ireland, Italy, Greece, and Spain have much less financial strength.
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Continue Reading... →Virtually every market traded lower yesterday following the Federal Reserve release of the March 13th Minutes. Bonds lead the way with the 10yr US Treasury jumping to over 2.30%, and the Mortgage Backed Security (MBS) yields losing over 70bps yesterday “minutes after the [...]
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Each quarter, Fannie Mae releases their National Housing Survey. They survey the American public on a multitude of questions concerning today’s housing market. We like to pull out some of the findings we deem most interesting each time it is released. Here they are for the [...]
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“Better” economic data has mixed influence on committee members and leads to a divided Fed!
Differing outlook by members of the Fed cause sell off in Stock and Bond Market.
Mortgage Rates set to increase based on news…
It’s not easy being a home seller in this market. It’s even harder for first-time sellers.
Selling a home is one of the biggest financial transactions most people ever do in their lives. And the current real estate market, still plagued with a record number of [...]
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The lion’s share of home sales typically come in the spring and early summer. April, May, June and July account for more than 40% of all housing transactions annually, in large part thanks to weather. Economists, realtors and Wall Streeters have [...]
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Ben Bernanke gave a speech in front of students from George Washington University’s School of Business as part of a four-part lecture series explaining the role of the Federal Reserve in the financial crisis.
This lecture focused on central banking and [...]
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Did the global financial crisis undermine people’s faith in money? What is money, why do we trust it and has it become too confusing?
We dream about it, argue about it, worry about it, celebrate it, spend it, save it – but what exactly is money and why do [...]
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(Reuters) – The White House on Tuesday said it was cutting the costs of some government-insured mortgages in a move that could open the door to cheaper loans for as many as three million borrowers.
The fresh round of changes from the administration affects [...]
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The U.S. Department of Housing and Urban Development (HUD) announced on February 27 that mortgage insurance premiums on FHA loans are set to rise starting April 1, increasing the cost of these mortgages to all new purchase and refinance borrowers.
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TweetElevated refinance volume prompts decision
Refinance activity is so busy that Bank of American Home Loans has made the decision to turn off the spigot for cashout refinancing. It’s the second time in four months that such a move has been made.
From the [...]
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FOR IMMEDIATE RELEASE:
McLEAN, VA — Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing average mortgage rates changing little amid mixed economic data. Regardless, the 30-year fixed-rate mortgage [...]
Continue Reading... →November Housing Starts
Housing starts for November rose 9.3% to 685,000. The highest annual rate since April 2010. Leading the way was multi-family units, rising 32.2%. Single-family units saw an increase of 2.3%. Over the last [...]
Continue Reading... →30-YEAR FIXED-RATE MORTGAGE MATCHES ALL-TIME RECORD LOW AT 3.94 PERCENT
McLEAN, VA — Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates at or near their all-time lows. The [...]
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