Few May Benefit From Lower Mortgage Rates
Rates Increase Mortgage rates increased today on a sell off in the Treasury market. The benchmark 10 year treasury note increased in yield by 16 basis points (bps) to 2.244%. The 2008 low on the 10 year [...]
How To Inspire Panic In An Economic Crisis
In an extraordinarily candid and chilling economic assessment, the Governor of the Bank of Spain, Miguel Ordonez, warned that the global economy is on the brink of a “total” financial meltdown. Governor Ordonez, in an interview with [...]
Streamlined Modification Program – Who Is Eligible?
On December 18, 2008 the Federal Housing Finance Agency, Fannie Mae, Freddie Mac and Hope announced their Streamline Modification Program (SMP) to assist troubled homeowners. By implementing common standards and procedures for loan servicers to follow it [...]
FOREX Traders Call Bernanke’s Hand
Currency traders have voted on the Fed’s latest policy decisions and this is the result – a collapsing dollar. Courtesy of stockcharts.com The magnitude of the latest rate cut apparently surprised foreign dollar holders who can only [...]
Signs Of A Bottom In Real Estate
The Federal Reserve would like us to believe that lowering rates will reverse the decline in housing values. They have brought interest rates to virtually zero providing some payment relief to selected borrowers. In the long run, [...]
Deflation Everywhere As Credit Unwinds
Motorola Tightens Belt Again – Wall Street Journal Motorola Inc. announced most employees won’t get raises next year and put a freeze on its U.S. pension plan and matching 401(k) contributions as the struggling cellphone maker continues [...]
When A Walmart Clerk Beats A $2 Million Trust Fund
The Federal Reserve fired its last bullet today by formally cutting interest rates to zero percent. A Fed statement noted that “The Federal Reserve will employ all available tools to promote the resumption of sustainable economic growth [...]
Long Term Housing Stability Based On Strong Borrowers
When will the housing market improve? That seems to be the question of the day so I offer some observations. When you hear that financing is hard to get for a home mortgage, what you are really [...]
A World Of Zero Interest Rates
We have arrived at 0 interest rates and the reasons we are at this point are all negative indicators for where we are and where we are heading. Theodore Ake, head of U.S. Treasury trading at Mizuho [...]
