Housing Starts - or the number of new permits to build residential homes - was down last month by 10.6% over the month before. Economists generally expected housing starts to be up by 1.5%. That's a 12.1% swing to the downside from expectations. In other ...
Category Archives: Mortgage Rates
Tough (Economic) Love
Peter Schiff wrote a compelling article spelling out the possible scenarios for the economy. I have linked to it above, and I hope you will go and read it. I think you will find it compelling; even if, in good Peter Schiff style, it ...
The New and Improved First Time Home Buyer Tax Credit
Basically the tax credit for first-time home buyers went from $7500 to $8000, with the difference that the tax credit now does not have to be repaid at all. Before, it was to be repaid over a 15 year period. Here is a link to information ...
The Fed May Have Another Trick Up It’s Sleeve
The Meeting of the Federal Reserver Board will adjourn at 2:15pm today, and as is customary, Fed officials will speak. Normally, we have waited to see if the Fed will lower (or raise) interest rates, and both stock and bond investors respond accordingly. They cannot ...
Inflation is Coming. Do You Know What to Do?
I have been saying for several months on this blog that Big Inflation is coming. And even several readers have commented back that everything seems deflationary, and wonder if I am seeing the same economy that they are. And I am, but I am looking ...
The Rate Roller Coaster
Rates have been rising somewhat dramitically over the past 7 days. But then, every time rates hit the lows, they have quickly shot up like a rocket, and tend to then float down like a feather. Be ready for a dip over the next few ...
Finally, the Fed is Buying
The Fed announced that it will begin to buy MBS in early January. Good news? Well, yes, it is good news, and although that move is pretty much already priced into the market and rates are already low, it is also true that rates have risen since two weeks ago. So, we might see them ...
Mortgage Rates Hit 37 Year Lows; Applications Hit 5 Year High
The Fed has been buying Mortgage Backed Securities (MBS) like we all know. And, the plan has worked. Mortgage rates, while still volatile, are bouncing around their all-time lows. And I have been just as busy as everyone else, ...
Is it Time to Refinance?
The stories are all over the news, including this one from the Associated Press, that mortgage rates are low. How low? Well, depending on where you look, anywhere from 37 year lows to All-time lows. I can tell you that from a raw rate standpoint, ...
This Refinance Boat May Leave Port Soon – Board Now
30 year mortgage rates ended Friday close to 4.75%. A bit higher for lower credit scores or higher loan-to-values, of course, but still in the low 5's. Good, by any measure. But, watch this video, and ...