Mortgage Rate Forecast – Mortgage Rates Trending Down in 2009
As many of my readers know, I am quite convinced that the long term mortgage rate forecast is down; possibly down to 4%. The only way we will know how low mortgage rates will go is going to be determined by the economy. It is quite a catch-22 as mortgage rates will continue to fall [...]
Mortgage Rate Predictions – April 21st – Mortgage Rates Hit All Time Low
Last week mortgage rates threw Subprime Blogger quite a headfake. Instead of continuing higher towards 5% mortgage rates fell to 4.82%. Much of this was due to the fact that the Federal Reserve continues to print money to buy back mortgage back securities. With this knowledge, how can mortgage rates go higher? Well, in all [...]
Mortgage Rate Predictions – April 17th – Mortgage Rates Fall to 4.82%
This week mortgage rates gave us a head fake and fell back to 4.82%. I predicted that rates would rise from 4.87% to 4.92% but with the Fed purchasing over $50 billion in mortgage backed securities rates only have one way to go….down. If the Fed continues to keep pumping money into the market, mortgage [...]
The Fed is Propping up the Real Estate Market with Artificial Rates
According to the Federal Reserve Bank average assets increased $29.1 billion to $2.15 trillion this week. The primary cause for the increase was the $51 billion in purchases of mortgage backed securities. By printing money to purchase mortgage backed securities, the Fed is able to keep mortgage rates under 5%. The problem we have is [...]
Fox News Ratings Spike During Tea Party
Fox News aggresively promoted the “tea party” events that took place on tax day. Even though Fox News claims to be “fair and balanced” they saw tax day as an opportunity to gain market share and that they did! What a capitalist idea! The premlimary numbers are as follows: TV Ratings During Tea Party Protest [...]
Economic Outlook – Unemployment will Destroy this Economy
President Obama feels that there is a glimmer of hope for the economy? Where? The national unemployment rate rose from 7.6% in January to 8.1% in February. There are many states that have an unemployment rate above 10% and that number is accelerating higher each and every month. The destruction of the housing market is [...]
HSBC Raises $17.7 Billion; Hopes to Sell Real Estate in London and New York
British bank HSBC raised an astounding $17.7 billion in the stock market and is hoping the property market gives them an opportunity to raise even more cash. HSBC believes cash is still king in the banking sector. No shit? A bank, cash? I would have never guessed! Maybe the British banking giant can help rely [...]
Ken Lewis Pumps Up Bank of America Stock then Steps Down?
Between January 20th and February 4th, Bank of America CEO Ken Lewis purchased 400,000 shares of BAC stock between the prices of $4.78 and $6.06. He currently holds over 1.4 million shares in the banking giant. On March 2nd, Ken Lewis made the statement that accepting so much TARP money was wrong and Bank of [...]
Mortgage Rate Trends – April 14th – Rates Back to 5%?
As we all know, mortgage rates have been under 5% for a few weeks now and it is almost becoming a normal thing to hear that rates are at historic lows. Obviously, mortgage rates cannot hit historic lows every single week because this is not how financial markets work. We are definitely going to see [...]
The Portal Alliance – The Demise of the United States Economy
Early in February, Subprime Blogger reported on an issue that many of you did not even know about: the Portal Alliance. Comprised of the Who’s Who of who does NOT know how to run a bank, the portal alliance could very well be the demise of the United States economy. The short list of this [...]
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