Is it too early for these? The roundest knight at King Arthur’s round table was Sir Cumference – he acquired his size from too much pi…. I thought I saw an eye doctor on an Alaskan island, but it turned out to be an optical Aleutian…She was only a whiskey maker, but he loved her
Conforming Loan Limit
The other day a Radio Shack employee was arrested after punching a customer who was trying to return an item. The employee was charged with assault, but since it’s Radio Shack, battery was not included. (Bah da bum!) Rates Up on Economic Optimism What is the deal with these interest rates? Or perhaps the better
Stocks, Especially Banks, Rally On Stress Test Results I am the first to admit that if I had to make a living as a day trader, I would be bankrupt within a month. Yesterday was a perfect example. Bank stress test results have been leaked out, showing, for example, that Citi, Bank of America, and
The other day I was complaining to a friend about the fact that her dog had two beds whilst my dog had none. (After all, for millions of years dogs survived without beds, right?) She answered that she had heard that, under a plan being considered by the Administration, any dogs that lied about their
I called my stock broker yesterday after the market closed to find out how my portfolio of various industries had done. He replied, “Helium was up, balloon prices were inflated, but paper was stationary. Knives were up sharply but pencils lost a few points. Hiking equipment was trailing. Elevators rose, while escalators continued a slow
Conforming loan limits have been reinstated for 2009 and most lenders should allow underwriting of these loans withing the next 1-2 weeks with a close date of May 1 and rates to be determined soon. This means consumers can apply for these loans now but the pricing might be ambiguous until more lenders start to
As you read this quarterly mortgage market update, you may still be reeling from the figures on your first quarter 2009 investment statements. Markets have been bruising since the credit crisis began in August 2007, with stocks declining approximately 40% since last Fall alone. During this time, economic and financial market updates have come to
Last Friday was the first day of spring. Congratulations, you made it through winter – now if only your savings had… Conforming To $729k? What is the word on when the conventional $729,250 will be rolled out? Hah! Call me “out of the loop”, but I have none. There are reports that big banks’ retail
My son asked me the other day, “If you try to fail, and succeed, which one have you done?” FHA Loan Limit Increases for 2009 CitiMortgage joined other lenders in publishing their FHA loan limit increases, which are effective for 2009. “For FHA Loans that are credit approved pursuant to the American Recovery and Reinvestment
Jay Leno said, “California finally passed a budget. Now Californians can go back to doing what they do best … buying homes they can’t afford.” Little do they realize how much the rest of the nation believes this to be true. Dow Hammered, Home Prices Record Drop Not only Californians but everyone else in the
Conforming loan limits as revised by the recent stimulus act are outlined below, and here are high-limit tables by region. The American Recovery and Reinvestment Act (ARRA), which was signed into law on Tuesday, increased the maximum conforming loan limit for mortgages originated in 2009. The increase affects 250 counties across the United States. For
I was very disappointed to find out from the National Inquirer that Cher only has 3 years to live. (They even had a photo of a distraught Cher on the cover, which must have been taken right after she received the news.) I mention this because I knew a loan agent who would play “If
RATE UPDATE Zero-points rates on conforming loans up to $417k and super-conforming loans up to $625,500 have improved to start this week as stocks have sold off and mortgage bonds have rallied—when bond prices rise in a rally, yields (or rates) drop. With the government participating in mortgage bond markets, lenders are pricing more conservatively
Capitalism Defined In traditional capitalism, you have two cows. You sell one and buy a bull. Your herd multiplies, and the economy grows. You sell them and retire on the income. In American capitalism you have two cows. You sell one, and force the other to produce the milk of four cows. You are surprised
The following post was a section of a previous post but we’re pulling it out as it’s own post because people keep asking about it. When the Fed started buying mortgage bonds five weeks ago, the goal was to push mortgage bond prices up and yields (or rates) down. Since the program was announced in
RATE UPDATE Zero-points rates on conforming loans up to $417k and super-conforming loans up to $625,500 have moved up in recent weeks because the Fed has executed its mortgage bond buying differently than expected (more on this below). So the pricing trend across most banks has been to offer favorable terms on points. Normally one
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