Buying A Foreclosed Home. Good Investment or Risky Business?
September 30, 2008
With current market conditions spurring foreclosures, it only makes sense that buyers would want to take advantage of housing prices well under market value. But what’s the deal? Is this idea way too good to be true? Does buying a home that’s been foreclosed on make you a Good Investor or a Risk Taker? Here we'll explore the pros, cons and precautions to take when buying a foreclosed home.
Even With Lower Long-Term Mortgage Rates, New Home Sales Dip in Latest Report
September 30, 2008
The U.S. Census Bureau and the Department of Housing and Urban Development today announced that sales of new, single-family homes fell in the month of August, decreasing 11.5% from July’s numbers.
Despite Falling Mortgage Rates, National Mortgage Applications Lower Last Week
September 30, 2008
Despite rates remaining low, the surge of applications from the previous week did not continue, according to a report released today by the Mortgage Bankers Association.
Existing Home Sales See Slight Decline, FHA Loans May Be Silver Lining
September 30, 2008
The National Association of Realtors announced today that existing home sales in August were down 2.2 percent as compared to July 2008.
Wall Street vs. Main Street - What Will The Government’s Bailout Package Do For You?
September 30, 2008
To battle America's looming financial crisis, The Bush Administration has proposed a $700 billion package - but what's in it for you?
Doing Mortgage Research? Getting Answers to Mortgage Questions Online
September 30, 2008
One of the best places to get information when you are researching a mortgage is online. You’ll find news, articles, mortgage calculators, production information and just about anything you are looking for. You’ll find explanations of mortgage related information. You’ll find mortgage rates. You can pretty much find anything.
Low-Interest Mortgage Rates Spur Refinance Boom
September 30, 2008
This morning the Mortgage Bankers Association (MBA), in its Weekly Mortgage Applications Survey for the week ending September 12, announced that loan applications surged 33.4 percent higher than the previous week.
Fed Funds Rate Holds Steady at 2%
September 30, 2008
The Federal Open Market Committee announced today that it will again hold its Fed Funds rate at 2.0 percent. This is the rate at which banks loan money to one another, impacts mortgage rates for adjustable rate mortgages and home equity lines of credit.
Lehman Brothers & Merrill Lynch News Should Continue to Drive Down Mortgage Interest Rates
September 30, 2008
While last weekend saw the government takeover of Fannie Mae and Freddie Mac, this weekend brought on the collapse of Lehman Brothers (a 158-year-old investment bank) and the purchase of Merrill Lynch by Bank of America. Once again, the change in the financial markets most likely means mortgage rates are falling, according to Quicken Loans Chief Economist Bob Walters.
Fed’s Action to Save Fannie Mae and Freddie Mac Lowers Mortgage Rates
September 30, 2008
When the government took control of mortgage giants Fannie Mae and Freddie Mac this past week, a funny thing happened. The Financial Markets liked the move. The result? Mortgage rates are down!
Economists Look to Rate Cuts, Second Financial Rescue Package for Hope
September 30, 2008
After failing to pass a bill geared at kick starting the financial
system in the United States on Monday, market participants are looking
for help from central bankers in the form of rate cuts
and a return of the failed bill as early as Thursday.
Current Events Could make the World a Better Place
September 30, 2008
The New York Times’ Julie Creswell and Ben White said it
is “The end of an era.“
They describe yesterday’s Wall Street as “a world of big egos…where
people love to roll the dice with borrowed money…in search of ever-
higher returns,” and what those returns can buy. A place where private
equity firms “amassed giant funds and went on a shopping spree, snapping
up companies as if they were second wives buying Jimmy Choo shoes on
sale.”
Case-Shiller Home Price Index Continues to Decline in July
September 30, 2008
The S&P Case-Shiller home price index fell more than
expected in the July as the 20-city composite index posted an
annual decline of 16.3%, extending the prior month’s 15.9% decline.
Overnight USD LIBOR Makes Biggest Jump on Record
September 30, 2008
In the largest rise on record, the British Bankers Association
reported that the overnight U.S. dollar inter-bank lending rate
(LIBOR) jumped 431 basis points to 6.88%.
Fed Funds Futures Price in 50Bp Cut
September 30, 2008
As the U.S. Congress voted to reject the bailout legislation, Fed
Funds Futures are pricing in a 66% chance of a 50bp rate
cut and 34% of a 75bp cut for the next Federal Reserve meeting
scheduled for Oct. 29.
Tuesday's Events: Canadian GDP; U.S. Consumer Confidence, ISM Chicago PMI
September 30, 2008
Economic data realeased today will include the S&P/Case
Shiller house price index, consumer confidence,
and the Chicago purchasing managers index. But in the aftermath of the
House of Representatives rejecting the financial rescue package, all eyes
and ears will be on global central bankers and policy-makers.
Fed's Hoenig Says U.S. Will Emerge From Crisis With a Stronger Economy
September 30, 2008
The Federal Reserve’s Thomas Hoenig said he will be more anxious than
others to raise rates when feasible. The Bank of Kansas City President
was speaking at a bank-sponsored forum in Nebraska.
GOP director uses Web to liven the party
September 30, 2008
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Buying A Foreclosed Home. Good Investment or Risky Business?
September 30, 2008
With current market conditions spurring foreclosures, it only makes sense that buyers would want to take advantage of housing prices well under market value. But what’s the deal? Is this idea way too good to be true? Does buying a home that’s been foreclosed on make you a Good Investor or a Risk Taker? Here we'll explore the pros, cons and precautions to take when buying a foreclosed home.
Even With Lower Long-Term Mortgage Rates, New Home Sales Dip in Latest Report
September 30, 2008
The U.S. Census Bureau and the Department of Housing and Urban Development today announced that sales of new, single-family homes fell in the month of August, decreasing 11.5% from July’s numbers.