Fannie & Freddie Hearing Feb. 9 Scott Garrett, chairman of the House Financial Services Committee’s Subcommittee on Capital Markets, announced that he would hold a hearing Wednesday on Feb. 9 on reforming Fannie Mae and Freddie Mac. “This hearing will be the first in a series of hearings to examine the steps Congress can take
February 2011
Rates rose .375% last week, which means $116 more per month on a $500,000 loan. Below is a brief explanation of why this happened and what to expect next week. Let’s back up to Friday, January 28 to explain why rates spiked. That day, GDP showed the economy grew 3.2% in 4Q2010, a nice improvement
New York has co-ops. San Francisco has TICs, which are an equally confusing property ownership type, but a big part of the market in San Francisco. Scott James, a San Francisco correspondent for the New York Times, just wrote a very informative piece on the topic.
This morning’s January jobs report is confusing because only 36,000 non-farm payrolls were added yet unemployment dropped significantly from 9.4% to 9%. Mortgages sold heavily on the unemployment figure, pushing rates up to 5.125% for single family loans to $417k—larger loans and condo loans are higher. But rates rising .375% this week isn’t just from
This morning’s January jobs report is confusing because only 36,000 non-farm payrolls were added yet unemployment dropped significantly from 9.4% to 9%. Mortgages sold heavily on the unemployment figure, pushing rates up to 5.125% for single family loans to $417k—larger loans and condo loans are higher. But rates rising .375% this week isn’t just from
Let’s see: the US government helps out BofA, and is now asking them to buyback loans? An investor group (including PIMCO, BlackRock, and the Federal Reserve Bank of New York) is deciding whether to sue BofA even after BofA’s recent loan buyback settlement with Fannie and Freddie. As BofA is hammered by bond investors to
Buying Cheaper Than Renting In 72% Of U.S. Cities Recently Trulia compared the median list price with the median rent on two-bedroom apartments, condominiums, townhouses, lofts and co-ops listed on its website, and compared that to ownership costs including mortgage payments, property taxes and insurance. It determined that buying is cheaper than renting in 72%
Here’s one of many tables in State of The Nation’s Housing 2010 showing home prices, mortgage amounts, down payments, and rates from 1980 to 1999. Click for full size.
Here’s one of many tables in State of The Nation’s Housing 2010 showing home prices, mortgage amounts, down payments, and rates from 1980 to 1999. Click for full size.
Here’s the magazine display at the local Whole Foods. Lots of information this week on people who make a ton of money. Click for full size. It should also be noted that $1 million dollars in $1 bills weighs about 2,200 pounds, just over one ton (so Rob says).
Here’s the magazine display at the local Whole Foods. Lots of information this week on people who make a ton of money. Click for full size. It should also be noted that $1 million dollars in $1 bills weighs about 2,200 pounds, just over one ton (so Rob says).
Quick someone call in the NYU groupies. Something. Anything to keep Professor Roubini from seeing his shadow and igniting another economic deep freeze. Then there’s Meredith Whitney, cold as ice. Whether or not she sees that shadow, the call is still a deep dark municipal winter.
Before presenting rate predictions for 2011, it’s worth noting that all forecasts are subject to the whims of highly volatile rate markets. What follows is an explanation of how rate markets work, how rates have behaved since the financial crisis began in 2007, then the outlook for this year. All rates discussed are 30yr fixed
Of course Stephen Colbert can be counted on to crack some quality jokes about Egypt, especially his call to “crush the revolution” if we have to pay higher gas prices (VIDEO BELOW). But TheReformedBroker definitely delivered the Egypt humor quote of the day, also below.
Of course Stephen Colbert can be counted on to crack some quality jokes about Egypt, especially his call to “crush the revolution” if we have to pay higher gas prices (VIDEO BELOW). But TheReformedBroker definitely delivered the Egypt humor quote of the day, also below.
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