AC in the winter? Brrrr-rilliant!
November 29, 2007
Nobody thinks much about air conditioning this time of year. Heck, depending on where you live, your heat may already be on for the season and your flannel pajamas pulled out of storage.
New Home Sales Report More Upbeat Than That For Existing Homes
November 29, 2007
As usual the two monthly reports on home sales -
existing homes and newly constructed houses - were issued in lockstep on
Wednesday and Thursday and while one was loudly proclaimed as an
indicator that things were still getting worse, the second contained a
germ of hope.
Mortgage 'Rates" Continue To Inch Down With One Glaring Exception
November 29, 2007
Mortgage rates continued to decline by baby steps as
reported by Freddie Mac in its Primary Mortgage Market Survey. The 30-
year fixed-rate mortgage (FRM) averaged 6.20 percent with 0.5 point
during the week ended November 21. The previous week it averaged 6.24
percent with 0.4 point. One year ago the 30-year averaged 6.18
percent.
Wells Fargo Bank is Latest to Announce Mortgage Woes
November 29, 2007
The Associated Press was reporting early Wednesday that yet another
major mortgage bank “has finally bogged down in the mortgage muck that’s
muddying one major bank after another.”
Two New Reports Deepen Housing Gloom
November 29, 2007
The U.S. Council of Mayors released a devastating
report on the impact on member communities of the ongoing
housing market problems. The report, prepared by Global Insight, an
economic forecasting firm, was presenting at a meeting of the Conference
attended by mortgage industry and community groups.
2008 Conforming Loan Limit Announced By OFHEO
November 29, 2007
Washington, DC - Office of Federal Housing Enterprise
Oversight Director James B. Lockhart today announced the maximum 2008
conforming loan limit for single-family mortgages purchased by Fannie Mae
and Freddie Mac (the Enterprises) will remain at the 2007 level of
$417,000 for one-unit properties for most of the U.S.
Higher limits apply to Alaska, Hawaii, Guam and the U.S. Virgin Islands
as well as to properties with more than one unit.
Senator Schumer Seeks Probe of FHLB Loans to Countrywide
November 29, 2007
Senator Chuck Schumer (D-NY) sent a letter on Monday
to Ronald A Rosenfeld, Chairman of the Federal Housing Finance Board,
expressing his “serious concern over the lending practices of the Federal
Home Loan Bank of Atlanta, specifically in regard to the significant
volume of advances made to Countrywide Bank.”
Citigroup Knocks Builder Stocks and Takes Hit of Their Own
November 29, 2007
Late Monday morning one of Citigroup’s analysts, Stephen Kim,
downgraded the entire homebuilding sector because he
could not find anything to suggest that the residential housing market
would improve until the second quarter of 2008.
Realius - Bringing Joy Back To Real Estate?
November 29, 2007
It may be hard to remember now but there was a time when real
estate was fun, maybe even fun and games. It was in those long
ago days before falling housing starts, crashing real estate values, and
the sub-prime mortgage debacle consumed so many companies and jobs and so
much time, energy, and newsprint.
GSEs Reported Losses Mean They Are Not the White Knight Some Had Hoped
November 29, 2007
Some of the financial world may be hoping that Freddie
Mac and Fannie Mae are at least part of the
solution to the sub prime mess, but the two government sponsored
enterprises (GSEs) seem to have a propensity for getting into plenty of
trouble on their own.
Mortgage Rates Steady Among Mixed Economic News
November 29, 2007
With the exception of the five-year treasury indexed hybrid adjustable
rate mortgage (ARM), mortgage
rates remained virtually unchanged for the second week in a row
according to the results of the Primary Mortgage Market Survey conducted
by Freddie Mac for the week ended November 15.
New home sales up, existing home sales down
November 29, 2007
The U.S. Census Bureau and the Department of Housing and Urban Development announced today that sales of new, single-family homes in October increased 1.7 percent compared to Septemberâs numbers.
Wheat Germ Oil - 16 oz
November 29, 2007
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