Stay variable or lock into fixed rate mortgage?
2009-10-24 01:51:00 This Globe and Mail article tries to answer the question burning in every mortgage owners mind, "Should I stay variable or lock into the fixed rate?" They end by saying it's up to you. Well, what should you do?Canadians are enjoying the lowest interest rates in history. A few of my mortgages were at 1.65% for a while providing incredible cash flow after all other expenses were paid. But around the net and on the news we're hearing that rates will rise probably in June or maybe earlier. It all depends on the economy's health.Generally speaking variable rates will do better for you in the long run. Now, the gap between variable and fixed is so large, you might get huge increases in rates and the amount your mortgage costs you every month.There is no clear cut answer but wait and see. It all depends Canada's economic health in early 2010.If the global economy recovery looks strong:“could force the Bank of Canada to raise interest rates aggressively, driving variable mortgage ...
Bears continue to mortgage their future with trade for DE Gaines Adams
2009-10-17 16:30:00 As the saying goes, "One man's trash is another man's treasure." That seems to be the case in the trade in which Tampa Bay sent DE Gaines Adams to the Bears for a second-round draft pick. The 0-5 Bucs no longer saw Adams (the #4 overall pick in the 2007 draft) as a building block for their future. Somehow the Bears do. Gaines does give the Bears some flexibility at defensive end, what with Adewale Ogunleye and Mark Anderson in the final year of their contracts, but for a second-round draft pick??? I don't see that as a bargain. I see that as mortgaging the future. The Bears overpaid for Jay Culter and now they have overpaid for Adams, a...
Peter Kinch on Canadian Mortgage Rates
2009-10-12 00:34:00 If you're riding the variable rate it can be scary sometimes, it can even keep you up at night. With interest rates at historical lows people are starting to wonder when and how high rates will go. Peter Kinch, The Number 1 Mortgage Broker in Canada, has insight on what to expect in the short term and in the next 2 to 4 years.He points out that interest rates are at their lowest ever which is attracting buyers to the market in turn firming up prices. Housing affordability is very good right now so take advantage while you can.He also expects rates to go up 3% in the next 2 to 4 years.Watch the full interview here on CTV News.Small piece of trivia Mr. Kinch lived in the same city I do in Japan and we have mutual acquaintances - Six degrees of separation!
Mortgage Forbearance
2009-10-01 12:45:00 Mortgage forbearance is a financing option available to qualified borrowers who become delinquent on their home mortgage loan. Lenders enter into forbearance agreements to help homeowners avoid foreclosure. The only "catch" is borrowers must provide evidence they possess the financial means to cure mortgage arrearages and remain current on future mortgage payments. Once a mortgage forbearance agreement is in place, lenders cannot proceed with foreclosure action unless borrowers default on their repayment plan. In most cases, borrowers work with their lender's loss mitigation department to obtain approval for extending mortgage payments
High Unemployment Causing Record Mortgage Defaults
2009-09-21 23:29:00 It’s tough to pay the mortgage when you don’t have a job: [Hat tip CPGone!] NEW YORK (Reuters) - High U.S. unemployment keeps pushing up the rate of mortgage delinquencies, which could in turn drive personal bankruptcies and home foreclosures, monthly data from the Equifax Inc credit bureau showed on Monday. Among U.S. homeowners with mortgages, a record 7.58 percent were at least 30 days late on payments in August, up from 7.32 percent in July, according to the data obtained exclusively by Reuters. But is the problem improving? Apparently not: August marked the fourth consecutive monthly increase in delinquencies, and the report showed an accelerating pace. By comparison, 4.89 percent of mortgages were 30 days past due in August 2008, while in August 2007, the rate was 3.44 percent, Equifax data showed. The rate of subprime mortgage delinquencies now tops 41 percent, up from about 39 percent in each of the prior five months. The results, which correlat...
By: HousingDoom
Reverse Mortgage To Foreclosure In Less Than Three Years
2009-09-11 17:34:00 Anyone who’s ever watched any late night television has seen those commercials for reverse mortgage. They are always touted by older celebrities claiming how safe these things are. For those who actually believe that there’s little risk to a reverse mortgage, here’s a cautionary tale from our faithful longtime correspondent in Tucson- M.R.: Recently I passed a vacant house with a NOTS posted on the front fence. I know the owner of this property — she’s an elderly lady who took out a reverse mortgage in 2006. The NOTS gave the amount, $285,500. Twist, in no way, even during the height of the bubble, was that place ever worth that much. Very few places in zip code 85705 are. Furthermore, the lady was known for feeding every stray cat in the area, and for allowing them into her house. You can just imagine what the place smelled like. After she got the reverse mortgage, she went on a truly baffling spending spree. We’re talking things lik...
By: HousingDoom
Former Maryland mortgage broker pleads guilty to a mortgage fraud
2009-09-04 23:05:00 Rasheeda M. Canty, a former mortgage broker, pled guilty today to engaging in an extensive mortgage fraud scheme involving properties in the District of Columbia and Maryland, Acting U.S. Attorney Channing D. Phillips, Joseph Persichini, Jr., Assistant Director in Charge of the FBI’s Washington Field Office, and Daniel S. Cortez, Inspector in Charge, U.S. Postal Inspection Service, Washington Division, announced today. The FBI and Postal Inspection Service are the lead agencies in this matter, but they have been well assisted by numerous other federal and local agencies, including the Internal Revenue Service (IRS), Metropolitan Police Department (MPD), and the D.C. Department of Insurance, Securities and Banking._______________________-_______________________________-____________________________ Additional Materials Press Release Information _______________________________-_______________________________-____________________Canty, 35, of Upper Marlboro, Maryland, entered her pl...
Houston man indicted in $5 million mortgage fraud charges
2009-09-04 22:40:00 In the following FBI press release Tim Johnson United States Attorney for the Southern District of Texas and FBI Special Agent in Charge Richard C. Powers announced that a 16-count sealed Indictment [not yet available] charging Melvin Lendall Brown, the owner of Brownstone Construction, with wire fraud arising from an alleged multi-million dollar mortgage fraud scheme has been unsealed. Brown, 49, of Houston, was charged with 16 counts of wire fraud arising from a scheme to defraud residential mortgage lenders of approximately $5 million in loans in connection with home purchases in the Houston area. Brown surrendered to the FBI on Thursday morning and appeared before Magistrate Judge Calvin Botley yesterday afternoon. Brown has been ordered released upon posting 10 percent of a $100,000 bond into the registry of the court. Arraignment has been set for Sept. 11, 2009. According to the allegations in the indictment returned last week, over a one-year period beginning in June 2004, Br...
Two charged in Colorado mortgage fraud allegations
2009-09-04 19:22:00 In the following press release it was announced that Cedric Lipsey, age 35, and Philip A. Martinez, age 34, both from Denver, Colorado, were indicted by a federal grand jury last week on charges of wire fraud as part of a mortgage fraud scheme, U.S. Attorney David Gaouette, FBI Special Agent in Charge James Davis, and IRS Criminal Investigation Special Agent in Charge Christopher M. Sigerson made the announcement. Lipsey was arrested by federal agents without incident. He appeared in U.S. District Court in Denver on August 31st, 2009 for an initial appearance, where he was advised of the charges pending against him. He appeared in court again today, where U.S. District Court Magistrate Judge Kristen L. Mix authorized his release on a $50,000 property bond. According to the Indictment, beginning in April 2004, and continuing thereafter until about March 2006, in the District of Colorado and elsewhere, Cedric Lipsey, aided and abetted by defendant Philip A. Martinez,...
Saratoga Springs (NY) couple indicted in mortgage fraud allegations
2009-09-04 18:40:00 In the following press release Albany County District Attorney P. David Soares today announced that Nikole Sutliff, aka Nikole Riley, 32, and Stephen Sutliff, 37, both of Kirby Drive in Saratoga Springs, NY, were arraigned in Saratoga County Court this morning on a sealed indictment consisting of (9) counts of Grand Larceny in the Second Degree, a Class “C” Felony, and (1) count of Conspiracy in the Fourth Degree, a Class “E” Felony. DA Soares was appointed Special Prosecutor to the case at the request of Saratoga County District Attorney James Murphy. Additionally, the Office of the Albany County District Attorney filed a civil complaint against the couple to recover $2.3 million in forfeiture from proceeds obtained as a result of the illegal mortgage fraud schemes. DayPortPlayer.newPlayer({articl-eID:"5591",autoPlay:"false",sli-deShow:"false",playerInstanceID-:"EADDDD54-D6FD-9524-EDC0-EDA20-C1936FF",domain:"wnyt.dayport.c-om"}); The indictment alleges ...
Former Dallas Cowboys star Eugene Lockhart indicted in mortgage fraud alleg
2009-09-03 20:11:00 In the following press release James T. Jacks, United States Attorney for the Northern District of Texas annouced that a federal grand jury has indicted Eugene Lockhart, Jr., 48, a former player with the Dallas Cowboys, and eight others, on various charges related to a mortgage fraud scheme he and the others allegedly ran in the Dallas area from 2001 through 2005. Lockhart, of Carrollton, Texas, and co-defendant Lendell Beacham, 50, of DeSoto, Texas, were arrested this morning by FBI agents, and will appear this afternoon at 1:00 p.m. before U.S. Magistrate Judge Jeff Kaplan for their initial appearance.____________________-_______________________________-_______________________________- Additional Materials Press Release Indictment [1.6mb] Wikipedia Profile Properties mentioned in the Indictment are:716 Mustang Ridge Drive, Murphy720 Mustang Ridge Drive, Murphy10114 Riverbend Drive, Rowlett3804 Nutwood Lane, Plano1405 Timarron Lane, McKinney1107 Deer Lake Drive1206 Qui...
9 indicted in Miami area mortgage fraud allegations
2009-09-03 20:10:00 In the following press release Jeffrey H. Sloman, Acting United States Attorney for the Southern District of Florida, Michael K. Fithen, Special Agent in Charge, U.S. Secret Service, and Robert Parker, Director, Miami-Dade Police Department, announced today the unsealing of an Indictment charging: Mike Ohana, 39, of Miami, FloridaMichael Ramos, 29, of Miami, FloridaRyan T. Dosen, 30, of Philadelphia, PennsylvaniaPaula Ramos, 52, of Miami, FloridaElba Emilia Perez, 43, of Lehigh Acres, FloridaFernando Soto, 37, of Miami, FloridaAntonio Abreu, 63, of Hialeah, FloridaYosvany Abreu Garcia, 34, of Fort Myers, FloridaErick Valdes, 35, of Miami, Florida[All are charged] with one count of conspiracy to commit bank fraud, in violation of Title 18, United States Code, Section 1343, and four counts of substantive bank fraud, in violation of Title 18, United States Code, Section 1344. Through this scheme, the defendants defrauded two financial institutions of over $3 milli...
How Deep Must You Dig to Pay the Mortgage?
2009-09-03 08:06:00 Jack M. Guttentag As the unemployment rate rises, more mortgage borrowers must choose between default and making the payment out of savings. That can be an agonizing decision. See the letter below: “I was laid off recently but am reasonably hopeful of finding another position soon… We have stayed current by drawing down our IRAs, but there ...
Michigan couple found guilty in mortgage fraud case
2009-09-02 20:45:00 In the following press release Donald A. Davis, United States Attorney for the Western District of Michigan announced that defendants Patricia L. VanderZwaag, 37, and Daniel Lee VanderZwaag, 36, of Holland, Michigan, were found guilty by a federal jury in Kalamazoo of one count each of mail fraud and wire fraud. Patricia L. VanderZwaag was also convicted on one count of financial institution fraud and one count of money laundering. The defendants are the owners of Mad Jac Corporation, also known as B & J Towing. They provided false documentation and information to mortgage companies to obtain loan proceeds.[Editor note - they obtained two first liens on the same property - see below]. Defendant Patricia VanderZwaag also used false information and documentation, including the Social Security Number of another person, to obtain a mortgage loan from National City Bank. She then transferred $16,000 of one of the mortgage company loans to another bank to launder the funds.___________...
Four indictted in Mass mortgage fraud scheme allegations
2009-09-02 19:23:00 In the following press release Michael K. Loucks, Acting United States for the District of Massachusetts announced that four Massachusetts residents were charged with fraud yesterday by a federal Grand Jury in connection with a scheme to obtain real estate properties and mortgages on those properties under false pretenses. The US Attorney was joined by Steven D. Ricciardi, Special Agent in Charge of U.S. Secret Service in the announcement that Steven Soto, age 24, currently in federal custody awaiting trial on unrelated federal fraud [ID Theft/Motor Vehicle] charges, Pedro Soto, age 44, of Springfield, MA, Carmen Soto, age 44, of Springfield, MA, and Kimberly Litwin, age 52, of Lynn, MA, were charged in a thirteen-count Indictment with mail fraud and aggravated identity theft._________________________-_______________________________-_________________________ Additional Materials Press Release Indictment _______________________________-_______________________________-__________________...
What Is FHA Loan?
2009-09-02 05:09:00 The process of selling our house is moving forward. This morning, our attorney told that the attorney review has completed and now the house is officially under contract. The buyer will do the home inspection this weekend. After that we will move to Virginia and leave the house and all other matters to our agent, ...Original Post on The Sun's Financial Diary Special bonus offers Citi Forward Card 11,000 Bonus ThankYou Points Lending Club $25 Sign Up Bonus TradeKing $50 New Account Bonus in August What Is FHA Loan?
Three indicted in Houston mortgage fraud allegations - one of them now on w
2009-09-01 18:44:00 Court records and the Secret Service website reveal that on March 4, 2009 Edward Lee Waddell (see below), Alfred Warren and Gerald L. Jones were indicted in an alleged Houston area mortgage fraud that caused $1 million in losses to lenders. The indictment states that Waddell, Warren and Jones conspired with Revis Otto Willis and Dedrick Johnson and others to recruit straw borrowers to purchase properties with mortgages that were greater than the true value of the properties. The defendants were paid kickbacks by the sellers and the kickbacks represented the difference between the true purchase price and the inflated valuations and sales prices given to the properties. The mortgage applications submitted for the straw borrowers contained false information concerning income, intent to occupy and bank account information. In addition they are accused of arranging false appraisals, false CPA letters and preparing false HUD-1 statements which contained misleading entries about the true d...
Hollywood Sub-Prime Mortgage Fairy Tale Being Released
2009-08-31 19:30:00 Leave it to leftist Hollywood to completely circumvent the truth of the sub-prime mortgage fiasco and turn it into more class warfare against the evil capitalists. Here are quotes they are using to advertise this left-wing socialist propaganda titled “American Casino” that is playing in select cities: ?American Casino is a powerful and shocking look at ...
Prime fixed-rate mortgage delinquencies increased in Q2
2009-08-20 18:24:00 We have been saying this for a long time here on our blog and the latest numbers from the Mortgage Bankers Association (MBA) confirmed it. Our current foreclosure mess is not a subprime problem anymore, but it is now moving to prime mortgages. According to the MBA: The delinquency rate for mortgage loans on one-to-four-unit residential ...
By: National Bubble
How To Get A Mortgage For One Of The Many Lutz Homes For Sale
2009-08-12 14:43:00 It seems as though everyone is talking about how it?s a ?buyer?s market? out there in the Florida real estate world ? but how are you supposed to take advantages of all the incredible Lutz homes for sale unless you get approved for a mortgage? Now that the recession is in full swing, mortgage lenders ...
Mortgage Lending in UK
2009-08-07 11:21:00 Against a backdrop of very low housing activity, UK house prices appear to be stabilising.During periods of house price falls, there are often monthly aberrations. However, the Halifax three month trend showed its first positive rise (of 0.8%) since 2007. This suggests that the most pessimistic house price forecasts for 2009, now look too bearish. The Institute of Chartered Surveyors have now changed their forecast from a fall of 10% to a small rise.Mortgage lending in June also showed a small increase. But, it remains far below pre 2007 levels. This indicates a house price recovery is based on the very low interest rates and continued shortage of housing, rather than a renewed enthusiasm of banks to lend mortgages.Quarterly Mortgage Lending StatisticsStatistic for Monthly UK Mortgage LendingMonthly Figures for Recent Mortgage Lending. Source: CMLRelatedLong Run Prospects for UK house prices
Free Mortgage Form Download For Ya
2009-08-05 22:21:00 In our quest to get you top quality free and affordable real estate investing resources and downloads we?ve just posted another free loan management form for you to go ahead and download. This is a free Mortgage Form download that you can head over, download and put to good use in your own rental business. Enjoy ...
SEC Alleges Mortgage Fraud
2009-07-30 16:33:00 The SEC sued four individuals for alleged fraud in connection with raising over $197 million from at least 900 investors nationwide in connection with a Phoenix-based commercial real-estate venture.
Mortgage Loan Record Free Download For Ya
2009-07-29 12:30:00 In our quest to get you top quality free and affordable real estate investing resources and downloads we?ve just posted another free loan management form for you to go ahead and download. This is a free Mortgage Loan Record download that you can head over, download and put to good use in your own rental business. Enjoy ...
Mortgage Relief
2009-07-23 18:20:00 Loss mitigation services for consumers, originators, and affiliate partners.
home mortgage created a new blog: Home Mortgage
2009-07-08 16:46:00 home mortgage created a new blog: Home Mortgage
By: BackBeat
mortgage rates refinance wrote a new blog post: Mortgage Rates Stop Rising?
2009-06-20 09:56:00 mortgage rates refinance wrote a new blog post: Mortgage Rates Stop Rising? When will rates stop their climb? Not on Monday, apparently. Mortgage rates continued to rise, reaching past 5.6% on Zillow’s Mortgage Marketplace on Monday afternoon. The Zillow tool tracks mortgage rates in real time by using quotes from thousands of brokers who offer rates in the Marketplace to potential customers who are looking for quotes. Monday’s rise ...
By: BackBeat
Here is a Great Example of the Current Mortgage Backed Securities Market?
2009-06-05 01:08:00 If you have wondered why mortgage rates have been climbing, falling, and climbing again, here is a great view into the current mortgage backed securities market? Mortgage backed securities have done three virtual freefalls in the last week and a half, only 8 trading days. Since MBS pricing is what drives mortgage rates, those freefalls ...
BUBBLETALK - Open thread to talk about the housing crash, mortgage meltdown
2009-06-04 19:29:00 Keep it clean, keep it short, use tinyurl and have at it...
By: Housing PANIC
Is the Air Being Let Out of the ?Mortgage Rate Bubble?
2009-05-31 22:17:00 To begin with, let?s analyze what has been happening to mortgage rates since my last post on the subject, just below and dated May 22, 2009. Since then, mortgage backed securities have plummeted after breaking below their recent trading range on May 23. While they have made back some ground, their virtual freefall has changed ...
BUBBLETALK - Open thread to talk about the housing crash, mortgage meltdown
2009-05-27 06:48:00 Have at it..And vote early and vote often for HP at this REIC blog contest (current hilarious leaderboard here). You can vote once a day supposedly...Vote for this siteReal Estate Blog Contestpresented by the FHA Loan Center
By: Housing PANIC
Is the Mortgage Rate Bubble About to Pop?
2009-05-23 02:27:00 If any of you have been following my work, especially over at Florida Mortgage Daily where I post regular mortgage market commentary, you knew I coined the next bubble the ?Mortgage Rate Bubble? a long time ago. Others are now using the ?Bond Bubble?, focusing on Treasuries and not mortgage backed securities and mortgage rates, ...
Credit Debt Consolidation Loans Refinance Mortgage
2009-05-04 21:47:00 Credit Card Debt Consolidation Obama Stimulus Mortgage Refinance Programs Avoid Foreclosure Refu Your Mortage Lower Interest Rates Free Help With the new Obama administration economic stimulus package, there is all kinds of money for mortgage Refi help, refinance your mortgage at lower interest rates and avoid foreclosure. Regardless of you credit, bad ...
Is a Greater Depression in the Works? And What Will Happen to Mortgage Rate
2009-05-03 16:20:00 Chances are that you have seen articles and other media types reference the relationship between the Hoover-FDR regime and the current Bush-Obama regime. Looking back to the time of the Great Depression (aka the Hoover-FDR regime), we can see shocking similarities that indicate history is destined to repeat itself, though this time may be worse. Now, ...
Fed Sees Contraction Slowing, Mortgage Rates Climbing?
2009-04-29 20:51:00 As I have mentioned numerous times before, the Policy Statement released by the FOMC at the time of announcing their decision on the Feds Fund Rate is the more important factor in determining which direction mortgage rates will move in the future. I had expected a big shock to the markets, possibly even an increase in their MBS purchasing agenda yet again. This time there was no “surprise”, rather a renewed commitment to the $1.25 trillion MBS purchasing spree, along with the renewed commitment to use ALL available tools, including those not yet created I am sure, to open the floodgates of credit. Let’s break it down… Information received since the Federal Open Market Committee met in March indicates that the economy has continued to contract, though the pace of contraction appears to be somewhat slower (no surprise hear as that is what the data has been indicating for a while now). Household spending has shown signs of stabilizing but remains constr...
BUBBLETALK - Open thread to talk about the housing crash, mortgage meltdown
2009-04-16 01:08:00 Fire away
By: Housing PANIC
Rate of Our Adjustable Rate Mortgage Will be Adjusted Next Month
2009-04-07 17:44:00 When we bought our house nearly five years ago, we chose a 5-year ARM (from Countrywide BTW) over a fixed rate because we didn’t plan to stay in this 3-bedroom townhouse for 5 years. So it made more sense to get an ARM, which was about 1% than fixed 30-year mortgage, to save some money. ...Original Post on The Sun's Financial Diary Special bonus offers Ohio CollegeAdvantage 529 Plan $25 Bonus Lending Club $25 Sign Up Bonus Rate of Our Adjustable Rate Mortgage Will be Adjusted Next Month
Annaly (NLY): Mortgage-backed income
2009-04-07 15:00:00 "For my money, the safest dividends come from Annaly Mortgage Management (NYSE: NLY)," says Jack Adamo.In his Insiders Plus newsletter, he adds, "The real estate investment trust's entire income stream comes from U.S. government-backed securities. There’s no way Uncle Sam can afford to default on them." Here's his reasoning."The company is leveraged in order to get its high dividend, but management has handled this very well for the many years I’ve followed the company, including the recent debacle of many of its peers."And it isn’t only me who is impressed. Jim Grant -- who is as conservative a curmudgeon as you’ll ever see when it comes to investing -- likes the company. "Current leverage is under 7x, compared to 12 to 14x for most conservative banks. It was leverage of 30 or more that sunk the big investment banks recently. "When times get better, Annaly can lever up a bit more and increase profits while...
Mortgage 1003 for WordPress - PlugIn / Script by andersonlending
2009-03-29 18:57:00 This is a duplicate of a project I saw on GetaFreelancer. I would like the same thing. Brian I'm looking for a WordPress plug-in (ideal!) or PHP script that will take the 1003 form data like:... (Budget: fixed $250, Jobs: PHP)
George Brown created a new blog: Mortgage Modification | Professional Credi
2009-03-27 16:38:00 George Brown created a new blog: Mortgage Modification | Professional Credit Repair
BUBBLETALK - Open thread to talk about the housing crash, mortgage meltdown
2009-03-27 13:22:00 Have at it...
By: Housing PANIC
Federal Reserve says it will buy Treasury securities and more mortgage-back
2009-03-18 23:24:00 Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending. Weaker sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories and fixed investment. U.S. exports have slumped as a number of major trading partners have also fallen into recession. Although the near-term economic outlook is weak, the Committee anticipates that policy actions to stabilize financial markets and institutions, together with fiscal and monetary stimulus, will contribute to a gradual resumption of sustainable economic growth.In light of increasing economic slack here and abroad, the Committee expects that inflation will remain subdued. Moreover, the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stabilit...
Federal Reserve says it will buy Treasury securities and more mortgage-back
2009-03-18 23:24:00 Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending. Weaker sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories and fixed investment. U.S. exports have slumped as a number of major trading partners have also fallen into recession. Although the near-term economic outlook is weak, the Committee anticipates that policy actions to stabilize financial markets and institutions, together with fiscal and monetary stimulus, will contribute to a gradual resumption of sustainable economic growth.In light of increasing economic slack here and abroad, the Committee expects that inflation will remain subdued. Moreover, the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stabilit...
Federal Reserve says it will buy Treasury securities and more mortgage-back
2009-03-18 23:24:00 Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending. Weaker sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories and fixed investment. U.S. exports have slumped as a number of major trading partners have also fallen into recession. Although the near-term economic outlook is weak, the Committee anticipates that policy actions to stabilize financial markets and institutions, together with fiscal and monetary stimulus, will contribute to a gradual resumption of sustainable economic growth.In light of increasing economic slack here and abroad, the Committee expects that inflation will remain subdued. Moreover, the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stabilit...
Federal Reserve says it will buy Treasury securities and more mortgage-back
2009-03-18 23:24:00 Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending. Weaker sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories and fixed investment. U.S. exports have slumped as a number of major trading partners have also fallen into recession. Although the near-term economic outlook is weak, the Committee anticipates that policy actions to stabilize financial markets and institutions, together with fiscal and monetary stimulus, will contribute to a gradual resumption of sustainable economic growth.In light of increasing economic slack here and abroad, the Committee expects that inflation will remain subdued. Moreover, the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stabilit...
Federal Reserve says it will buy Treasury securities and more mortgage-back
2009-03-18 23:24:00 Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wealth, and tight credit conditions have weighed on consumer sentiment and spending. Weaker sales prospects and difficulties in obtaining credit have led businesses to cut back on inventories and fixed investment. U.S. exports have slumped as a number of major trading partners have also fallen into recession. Although the near-term economic outlook is weak, the Committee anticipates that policy actions to stabilize financial markets and institutions, together with fiscal and monetary stimulus, will contribute to a gradual resumption of sustainable economic growth.In light of increasing economic slack here and abroad, the Committee expects that inflation will remain subdued. Moreover, the Committee sees some risk that inflation could persist for a time below rates that best foster economic growth and price stabilit...
Why Mortgage Rates Dropped Slightly Today, And Why They Won’t Stay Down M
2009-03-18 20:43:00 No doubt, unless you are a hermit, you have heard the media talk about mortgage rates heading for 4%. Heck, even Jim Cramer, you know that “Mad Money” guy on CNBC, was praising Ben Bernanke for making this move today and even saying he just gave us 4% mortgage rates. Of course, John Stewart (Daily Show on Comedy Central) showed just how good Jim Cramer is, and it makes you wonder just how much he knows about the markets and how mortgage rates are derived. So, just why is everyone in the media talking about 4% mortgage rates again? Well, it all comes down to the Fed’s Policy Statement and not just their rate decision. Sure, the Fed kept the Fed Funds Rate at 0-0.25%, but statements released were what really is driving the markets nuts today. Let’s take a moment and dissect it… Information received since the Federal Open Market Committee met in January indicates that the economy continues to contract. Job losses, declining equity and housing wea...
Chimera (CIM): Mortgage REIT sees insider buying
2009-03-18 05:00:00 "Insider buys in 2009 have been far and few between; over the last month, though, we have seen some insiders step up to the plate, such as the CEO at Chimera Investment (http://www.thestockadvisors.co-m/quote.htm?sym=cim) (NYSE: CIM (http://www.thestockadvisors.co-m/quote.htm?sym=cim))," says Bill Martin (http://www.thestockadvisors.co-m/ccount/click.php?id=2973).In- his BullMarket.com (http://www.thestockadvisors.co-m/ccount/click.php?id=2973) advisory, he explains, "Chimera is one of the closest things you can get to investing in a distressed mortgage asset fund." Here's his review of the real estate invesstment trust."While associated with Annaly, Chimera has a much different focus and was set up to take advantage of the dislocation in the mortgage market. "The REIT invests primarily in residential mortgage loans, residential mortgage backed securities, real estate related securities, and various other asset classes in the United States."It invests in prime, jumbo prime, and Alt-A...
Who can get a low rate mortgage these days
2009-03-17 16:00:00 How many people are actually benefiting from fixed-rate mortgages advertised at 5.5% or less? It?s possible to get a rate that low if you put down 20%...
Who can get a low rate mortgage these days
2009-03-17 16:00:00 How many people are actually benefiting from fixed-rate mortgages advertised at 5.5% or less? It?s possible to get a rate that low if you put down 20%... |
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