I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. Send me email for personal purchase or refinance questions. I send market updates a few times daily. Show More Summary
Mortgage bond markets are signaling a slight return to risk this morning. If you're watching the wrong market indicators, though, you probably didn't get the memo. Looking at the chart above, we see that as of 9:02 AM ET: Mortgage-backed securities are improved by 28 basis points 10-year U.S. Show More Summary
An adjustable-rate mortgage is a mortgage for which the interest rate remains fixed for some period of time, after which it can change based on some pre-determined rules. A shared rule among all adjustable rate mortgages is the formula by which it can adjust. Show More Summary
More than a year ago, one of our congressmen made a prediction. He said that he wouldn’t be surprised to see the national debt rise in one year by three-quarters of a trillion dollars — a $750-billion-dollar prediction. Now the bailout is a reality. The prediction is made at the 1:49 mark of the clip [...]
Remember the saying “if all you have is a hammer, everything looks like a nail“? Share This ...
Jim Cramer says take your money out of the market now: Lehman Brothers Testimony: CBS 60 Minutes on the Shadow Market on Wall Street: Watch CBS Videos Online Share This ...
O'Reilly and Frank set the record straight: ...
Dear Congress, My clients are shopping for mortgages and your ongoing debates are causing problems. Mortgage rates are rising this week when all the data points to them falling. This is happening because the whole world is waiting for your vote. Show More Summary
Exhibit A: Wall Street investors are making life difficult for mortgage rate shoppers. It used to be that mortgage lenders issued pricing on a Monday morning and those rates were good for the entire week. Rate shopping was easy back then because everybody could take their time. Show More Summary
With mortgage rates moving faster than the Spread HD offense this morning, let's take a few minutes to recap what's going on, and what's causing rates to fall. First, the bailout. Late Sunday, Congress drafted the Emergency Economic Stabilization Act of 2008 bill and it goes to vote sometime today. Show More Summary
First, a commercial from Washington Mutual...where even Paul can get a home loan thanks to their flexible underwriting. Then...don't worry, you can sleep knowing you have AIG...I won't miss this annoying kid...but I did enjoy the laughing baby ads. Wachovia...
The claim that the market caused all this is so staggeringly foolish that only politicians and the media could pretend to believe it. But that has become the conventional wisdom, with the desired result that those responsible for the credit bubble and its predictable consequences... Show More Summary
I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. Send me email for personal purchase or refinance questions. I twitter market updates a few times daily. Show More Summary
Yesterday, the stock market suffered its largest one-day point loss since September 17, 2001, and its sixth-largest point loss in history. Not everyone got punished, however. Two groups of people, in particular, welcomed yesterday'sShow More Summary
RealtyTrac released its foreclosure data for August 2008, its headline reading in the usual Armageddon-like style: FORECLOSURE ACTIVITY INCREASES 12 PERCENT IN AUGUST Activity Up 27 Percent From August 2007 But, as is also typical, the news isn't nearly as dire as the headline would make us believe. Show More Summary
Lately, Fannie Mae and Freddie Mac have been in the news every day as economists and lawmakers question the future of conforming mortgages. But among everyday Americans, a more common question is: "What is a conforming mortgage?" A conforming...Show More Summary
Monday, Wall Street made its verdict in the case of Government vs The Credit Markets, a knock-down, drag-out fight that may have ended last Friday. Government wins, but not without inflation. To an economist, inflation is the general increase in the price of everyday goods and services that occurs over time. Show More Summary
Shortly after Fannie Mae and Freddie Mac were nationalized, there was a lot of "Mission Accomplished"-like chatter on TV; as if suddenly-low mortgage rates were the answer to a national housing problem. Look, low mortgage rates don't...Show More Summary
I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey is now available. As a reminder: The survey is for conforming loans only. Send me email for personal purchase or refinance questions. I twitter market updates a few times daily. Get them on your mobile. Anyway, on to the group's predictions for the next 30 days: