The real estate market is down, and staying down. Some would say it’s “down for the count”.
Foreclosures are up, way up. There doesn’t appear to an end in sight.
Mortgage companies and now banks are going belly up, and those that aren’t are barely scraping by. Sub-prime funding for homeowners in trouble has […]
If you’re thinking about buying a home, or refinancing the mortgage on your current home, you’ve previously been faced with two options;
Prove your income. This means providing W-2 forms, paystubs, or tax returns to the lender to prove that your income is what you say it is. The lender bases all of their decisions on your debt […]
Is Your ARM Broken…Or Is Your ARM Making You Broke? Since the Federal Reserve recently stopped it’s three year crusade to increase the Prime Rate every six weeks, most people with adjustable rate mortgages (ARMs) expected their already high rate to stabilize. Unfortunately, it takes up to 18 months for the indicators linked to some […]
Some Reservations at The Federal Reserve
Almost all major financial analysts are predicting that the Federal Reserve, under Ben Bernanke’s direction, will leave the Fed rate of 5.25% untouched at their meeting today. Now, with the recent reports indicating a downturn in sales of durable goods, plus the continuing drop in new housing starts and home […]
The Federal Reserve Pauses in Their Rate Hikes
Well, the two big news stories in the last few weeks were the Federal Reserve Bank’s decision to not raise rates for the first time in 3 years, and the terroist plot by Islamic extremists that was foiled in Great Britain. How these two things are related helps […]
Here’s some more info about where interest rates are headed, and its not good. Even the head of a group that critiques the Federal reserve’s policies thinks rate increases are still coming in the weeks ahead. So if you’re buying a new home or refinancing your current home (especially if you have an ARM), now […]
Well, the latest statements from Ben Bernanke and the Federal Reserve indicate that interest rates are going to continue to be pushed up by the Fed’s ongoing program of bumping the prime rate. Stock prices were down again as Mr. Bernanke said that the economy was in a state of “transition”, and that the Fed was committed […]