Wall Street vs. Main Street - What Will The Government’s Bailout Package Do For You?
September 23, 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 23, 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 23, 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 23, 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 23, 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 23, 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!
Plummeting Mortgage Rates Trigger Jump in Mortgage Loan Activity and FHA Loans
September 23, 2008
Rapidly falling mortgage rates are bringing consumers seeking a mortgage out in droves, according to the report released today by the Mortgage Bankers Association. The association’s Weekly Mortgage Applications Survey, which measures week-over-week volume of people applying for a mortgage to either purchase a home or refinance an existing mortgage, showed loan application activity increased 9.5%.
The Government, Fannie Mae & Freddie Mac - What Does It All Mean?
September 23, 2008
If you were near a TV or computer this weekend, you know that after weeks of buzz, the government took control of mortgage giants Fannie Mae and Freddie Mac. But unless you like studying charts and following stocks, you might not know who those oddly-monikered companies are and what this news means to you.
History Proves Current Mortgage Rates Are Near Historic Lows
September 23, 2008
While mortgage rates may have increased slightly over the past four years, they’re still the lowest they’ve been over the course of 25 years. So while we may be hearing that mortgage rates have increased, it’s still an excellent time to purchase or refinance with a low mortgage rate.
Surge in FHA Loans Leads Jump in Weekly Mortgage Loan Activity
September 23, 2008
A greater number of people applied for a mortgage loan to purchase or refinance a home last week than the one that preceded it, continuing a recent wave of positive economic reports regarding housing.
Friday Update w/ Aaron Freedman
September 23, 2008
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ABA Asks Protection for Banks Owning GSE Stock
September 23, 2008
When the two government sponsored enterprises (GSEs) were originally
placed in conservatorship on September 7, federal
regulators estimated that only a few dozen banks were holding preferred
paper in the institution. However, the ABA survey has found that about 27
percent of banks are preferred stockholders and another 3-1/2 percent own
auction-rate securities that are backed by preferred stock. For those
banks which are preferred stockholders, the average exposure of their
core capital is 11 percent.
Wall Street vs. Main Street - What Will The Government’s Bailout Package Do For You?
September 23, 2008
To battle America's looming financial crisis, The Bush Administration has proposed a $700 billion package - but what's in it for you?
Bernanke Clarifies Government's $700 Billion Proposal
September 23, 2008
In additional, prepared comments that were not published prior to
delivery, Fed Chairman Ben Bernanke clarified exactly why the
Treasury needs to take such extraordinary action to save the
financial market.
Paulson Says Gov't Action Will Protect Taxpayers, Restore Markets
September 23, 2008
Quickly enacting a government program to save U.S. financial markets
is the best option to avoid seeing the turmoil spread toward the broader
economy, said Treasury Secretary Henry Paulson in his prepared
testimony to be read before the Banking, Housing, and Urban
Affairs Committee on Tuesday.
House Prices Fall 0.6% in July, Says OFHEO
September 23, 2008
U.S. house prices declined 0.6% in July following
June’s downwardly revised -0.3%, the Office of Federal Housing Enterprise
Oversight (OFHEO) reported Tuesday.
Bernanke Says Government Action Necessary for Health of Economy
September 23, 2008
Difficulties in the financial markets should be addressed
through the private sector whenever possible, and government
assistance should only be given when the stability of the financial
system as a whole is at risk, said Federal Reserve Chairman Ben Bernanke
on Tuesday before the Banking, Housing, and Urban Affairs Committee.
Former Fed Governor Says Bernanke and Paulson Are Right Men for the Job
September 23, 2008
Speaking in an in interview on CNBC, recently-retired Fed
Governor Frederic Mishkin praised Fed Chairman Ben Bernanke and
U.S. Treasury Secretary Paulson for being the right people to deal with
the current situation.
Fed and Treasury Urge Congress to "Act Swiftly" to Avoid Adverse Effects
September 23, 2008
Congress needs to act swiftly to address the
financial market turmoil and not drag the process of passing legislation
with unnecessary provisions, Fed Chairman Ben Bernanke and U.S. Treasury
Secretary Henry Paulson told lawmakers on Tuesday in prepared remarks.
Doing Mortgage Research? Getting Answers to Mortgage Questions Online
September 23, 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.