HSBC Subprime Exposure leads to Trouble?
HSBC subprime exposure has caused great pain for this financial company. HSBC, which is Europe’s largest bank based on market value, has reported that they wrote off as much as $11.7 billion in bad loans in 2008; many of these unpaided loans are subprime loans. Almost all write-offs for HSBC are because of the United [...]
How to Get No or Low Closing Costs on Your Mortgage
How to get no or low costs on your mortgage is something many Americans need to know. Closing costs are one of the main reasons many borrowers do not refinance their homes. Closing costs can often be very confusing and cause home owners to shy away from even the thought of refinancing. It seems that [...]
A New Look For Subprime Blogger
We are currently working on a new look at Subprime Blogger. As Mark Sanborn once said, “your success in life isn’t based on your ability to simply change. It is based on your ability to change faster than your competition, customers and business.” We welcome any comments on the new look as we hope to [...]
Stumble My Digg, Prop and Mixx my Reddit and Don’t Forget to Facebook Me
My oh my how things have changed on the internet over the last five years. Most of us can remember when AIM and ICQ were the only true ways of communicating besides email. We can also remember when Facebook, Myspace, Tagged, Digg, Propeller, StumbleUpon, Mixx, Reddit, etc, etc, etc did not exist. Web 2.0 has [...]
Mortgage Rates Predictions – January 15th
We at Subprime Blogger are going to start a new column entitled “Weekly Mortgage Rates Predictions.” Each Monday afternoon, we will analyze the data provided over the last few days and weeks to predict what the Freddie Mac Weekly Primary Mortgage Survey will say. Our predictions will be for the 30 Year Fixed Rate and [...]
Obama Mortgage – Will He Fix Things?
Obama mortgage rates are going the subject of a lot of discussions in the upcoming year. Love him or hate him, all Americans must agree on one thing – Barack Obama is a VERY smart individual. With an undergraduate degree from Columbia and a Harvard Law degree, there is little that anyone can do to [...]
Refinance Today? Is It Right For You?
Most homeowners would agree that refinancing has come across their mind in the last three months. With rates dropping to as low as 4.5% in some markets, it is hard to NOT consider this financial decision. What you must understand before making this commitment of time and energy is that not everyone can get the [...]
Average Mortgage Rates Tumble to 5%, What It Means for You
For the 10th straight week, mortgage rates on 30 year fixed loans fell. Once again, historical lows were achieved as the benchmark rate dropped to an average of 5.01%. This average is down from the 5.1% last week and the 5.87% a year ago; the 30 year fixed was at a high of 6.7% last [...]
The “Great Refi Boom” of 2009? A Must Read!
Market pundits and analysts appearing on the financial networks have been calling for the “Great Refi Boom” of 2009 due to the fact that rates have dropped below 5%. While this sounds great, it is just not true. The mortgage application data is greatly swayed as described in the article The Government Hyping Mortgage Application [...]
The Government Hyping Mortgage Application Data? You Won’t Believe This!
Over the last three weeks, there has been major hype about the next refi-boom because mortgage applications are up, up and up! Several news sources have posted that mortgage applications have been up 48%, 28.3% and even 155%! Where are they getting the numbers you may ask. Well, the government is reporting that mortgage applications [...]
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