Yesterday the markets were concerned about S&P cutting Japan’s credit rating for the first time in 9 years to AA- to account for their mounting debt. What about here in the US, are we broke yet? Our deficit is over $14 trillion. This doesn’t matter … until it does. But when does that happen? When
Mortgage applications increased overall for the second straight week, but purchase applications are still down. The MBA numbers, which poll about half of retail mortgage lenders, were up 2.2%, with refi’s up almost 5%. Purchase applications fell almost 4%, and have fallen in four of the past five weeks. Rates are not helping things. Yesterday,
Home Appraisal Issues I overheard the kids last night talking about doing chores. My daughter said, “If we stop dusting, we could use the coffee table for a message board!” Speaking of message boards, I have seen a few analysts state that they believe property appraisals are keeping a lid on values. More precisely, when
Population Trends In Popular Format If you like numbers, and population trends presented in an entertaining way, check out this video. For example, India has more “honor roll” kids than the United States has kids! Wells 1Q2009 Profit Surprise I bank at Wells Fargo, and I am sick of it. You can’t walk through the
How subprime mortgage crisis is impacting global financial markets.
Fixed and ARM rates open this week up roughly .125%. We’ve been in the middle of a bond sell off for the past few trading days, not so much because of economic data from last week, but more a reaction to Europe and Japan hiking their rates. This means support for U.S. bonds could wane