Archive for May, 2011

Entrepreneur: the magazine that sues entrepreneurs

Anyone interested in branding should read this BusinessWeek piece from a couple weeks ago (link below). It’s about how Entrepreneur magazine sues entrepreneurs who use the name “entrepreneur” in their business names. That part alone is worth the read, but even more interesting is what their actions teach us about trademark law. Trademarks are intended […]

Why Rates Will Hold 2011 Lows This Week

Rates remain at 2011 lows on mostly weaker economic reports. Below is a recap last week to today, newest first. Mortgage bonds rise on worse news, causing rates to fall and vice versa, so headlines are categorized accordingly. Rates should hold this week, which is dominated by May jobs reports (Wed and Fri) with latest […]

Fundamentals 5/31

Home Prices: Case-Shiller Home Price Index: – 10-city, not Seasonally Adjusted – Month/Month change -0.6 % – 10-city, Seasonally Adjusted – Month/Month change -0.1 % – 10-city, not Seasonally Adjusted – Year/Year change -3.6 % – 20-city not Seasonally Adjusted Month/Month -3.6% Full Case-Shiller report Consumer Confidence: May: 60.8. Below previous and consensus The Eurozone […]

FHA After Banks For Bad Loans. Rates Remain Low.

Banks are sitting on huge amounts of cash. The reasons for this include reserves held for bad loans, the inability to find credit-worthy lending outlets, and the continued threat of mortgage buybacks by government agencies. American Banker reports that loan repurchase requests from Fannie Mae and Freddie Mac are finally tapering off but that the […]

Monetary Policy 101: Exchange Rates

Over the next month I will examine monetary policy in my weekly pieces. To start, I am recycling this piece I wrote last July. Eternal thanks to economist Steve Hanke of Johns Hopkins University who’s taken the time to educate me on these matters. Money Supply and monetary policy are set by the Federal Reserve. […]

Mortgage Rates: Week Ended Friday, May 27

CONFORMING RATES ($200,000 to $417,000) 0 POINT 30 Year: 4.625% (4.87% APR) FHA 30 Year: 4.375% (4.495% APR) 5/1 ARM: 3.25% (3.37% APR) SUPER-CONFORMING RATES ($417,001 to $729,750 cap by county) 0 POINT 30 Year: 4.75% (4.87% APR) FHA 30 Year: 4.5% (4.62% APR) 5/1 ARM: 3.375% (3.495% APR) JUMBO RATES ($729,751 to $2,00,000) 1 […]

Biggest Foreclosure State. Liquidating Fannie/Freddie.

The government is exploring ways to liquidate hundreds of billions, or trillions, of Fannie & Freddie portfolios. There are 15 F&F-related bills in the House, little interest in the Senate about doing anything soon, and the NAR and mortgage-related groups arrayed against House Republicans, who are now looking to peddle F&F’s assets. If a mortgage […]

Fundamentals 5/27

Personal Income/Expenses: – Personal Income – Month/Month change 0.4% – Personal Income – Year/Year change 4.4% – Consumer Spending – M/M change 0.4% – Consumer Spending – Year/Year change 4.8% – Core PCE price index – Month/Month change 0.2% – Core PCE price index – Year/Year change 1.0% Income growth is fairly strong but being […]

Does U.S. Cook The Books On GDP Reporting? (part 2)

Today’s BEA (Bureau of Economic Analysis) second of three 1Q2011 GDP readings shows a weak economy at +1.8% growth. Worse yet is that BEA using dubious assumptions to get from nominal to real (infaltion adjusted) data. BEA assumed that inflation in 1Q2011 was an annualized 1.9% despite the fact that the “official” metric from BLS […]

Fundamentals 5/26

GDP: Second of three 1Q2011 GDP readings was +1.8%, the same as first reading and down from +3.1% 4Q2010 reading. Final 1Q2011 reading June 24. Looking inside and remembering that GDP=C+I+G+(X-M) (where C=Consumer Spending, I=Investments, G=Government Spending, X=eXports, M=iMports) let’s break out the components: C was +2.2% in the quarter contrasted with +4.0% the previous […]

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