As reported by The New York Times earlier in the week, the FHA is
confronted with the possibility of the first deficit in its 74
year history primarily because of a single program in which
sellers, with the assistance of one of several non-profit organizations,
fund the buyer’s downpayment. This amount is then usually added to the
purchase price of the home. Loans funded under this program have suffered
high delinquency and foreclosure rates, draining FHA’s budget.
This past week that saw three of the world’s major central
banks release interest rate decisions, all of which were in line
with what markets had been expecting. The Bank of Japan and European
Central Bank both held rates steady while the Bank of England eased by 25
bps to address downside risks to growth. Minutes from the FOMC’s March 18
meeting were also released this week.
One of the most confusing mortgages to much of the general public is the reverse mortgage. Lots of folks aren’t sure what a reverse mortgage is, who qualifies, how to apply, and where to go to get information.
In my post from a couple days ago, detailing the Investment Advice Of David Swensen, I thought there was a good lesson in diversification. I thought I would breakdown the different ways you can diversify your investments, and hopefully avoid getting hurt in an unstable market.
According to preliminary data from Reuters and the University of
Michigan, U.S. consumer sentiment fell sharply from
March’s final 69.5 to a score of 63.2, the lowest level since March 1982
when the index stood at 62.2.