To make good on an announcement earlier this month, the Fed has completed the first few days of
Posts Tagged ‘LIBOR’
LIBOR Drops Most Since Lehman Failure, Overview of Fannie/Freddie Guarantee Fees
I walked into a Starbucks with a buy-one-get-one-free coupon for a Grande Latte. I handed it to the girl and she looked over at a little chalkboard that said, “Buy One, Get One Free.” “They’re already buy-one-get-one-free,” she said, “so I guess they’re both free.” She handed me my free lattes and I walked out [...]
LIBOR Drops Five Days In A Row!, Oil At 13mo Low, Housing Starts At 17yr Low
Why couldn’t I have been born a Saudi prince? Then I could influence the supply and demand of a commodity. Crude oil prices hit a 13-month low, and so now OPEC will probably announce production cuts at a meeting next week. Under the heading, “nothing goes up, or down, forever”, oil has tumbled more than [...]
Metrocities Exits Mortgage Broker Channel, Bank Earnings, LIBOR Down More, CPI/Jobs Data
ANOTHER BLOW TO MORTGAGE BROKERAGE BUSINESS Prospect Mortgage/Metrocities is exiting the wholesale business. Their e-mail stated, “Based on current market conditions, Prospect Mortgage / Metrocities Mortgage, LLC, has elected to exit the Wholesale lending space.” Yesterday they published their last rate sheet, and took their last locks in this business channel. It is debatable whether [...]
Short Term LIBOR Declines Signal Hope In Credit Markets
LIBOR (London interbank offered rate) is a critical short-term rate for banks to lend to each other and for companies to raise money to fund operations. Overnight, one-month and three-month LIBOR have all shot up recently, and markets have been watching these closely for signs of life in the credit market. MarketWatch reports that three-month [...]
Fed Rates & 30yr Mortgage Rates NOT Correlated, Oil Drops Below $80
Q. What’s the difference between a mortgage and a Beanie Baby? A. You can still find a buyer for a Beanie Baby.
Why Do Short-Term Rates Matter: Roundup of LIBOR and TED Spread Stories
With short term rates spiking, there’s been lots of coverage about this topic this week. Below are some stories about why short term rates are spiking, including a couple good stories explaining what the TED spread is and why it’s important.
Goldman Predicts Recession, Senate To Vote Revised Bailout Bill, LIBOR Skyrocketing
John Courson, who ran Central Pacific Mortgage before they failed early last year, and who was appointed the chief operating officer for the Mortgage Bankers Association of America (and is set to become the association’s president in January), is facing a fraud and embezzlement lawsuit by former branch managers. The MBAA, of course, is now [...]
$750b Bailout Negotiated to $250b+, Citi to buy Wachovia for $2.16b Plus Some Losses
Forget all the news about the bailout, and about Citi/Wachovia! More importantly, Heather Locklear was arrested! Rumors of thousands of men lined up to post bail are probably exaggerated. Obviously this mortgage crisis is proving too much for her.
Actively Managing Your Mortgage, Part 1
It was not long ago that most home loans were the same, simple structure. A fixed rate along with an amortization schedule of 15 or 30 years. But in the past couple market cycles, and especially in the past five years, home loans have gotten a lot more sophisticated to meet the expanding objectives of [...]
