Daily Mortgage Rates News – Fannie Mae Needs $19 Billion
Fannie Mae, which took 15.2 billion in government aid on March 31st, is now asking for an additional $19 billion due to an “unprecedented” housing market slump. The first quarter loss of Fannie Mae was reported at $23.2 billion or $4.09 a share which pushes Fannie’s net worth into the negative. The question we must [...]
Mortgage Rate Predictions – Mortgage Rates Predicted Exactly at 4.84%
Verbatim from my mortgage rate prediction article on Monday: Knowing that the Fed scaled back greatly this week, I personally feel this is a week we are likely to see a slight uptick in mortgage rates. Last week’s survey showed overall rates coming in at 4.78% which is one of the lowest readings in history. [...]
Daily Mortgage Rates News – Subprime Will End Bank of America?
Over the last six months I have been very harsh, yet honest, in my thoughts about Bank of America. In January I posed the question “Will Bank of America File Bankruptcy?” This was prior to main street realizing just what was going on behind closed doors in Charlotte, NC. Just before the mention of bankruptcy [...]
Daily Mortgage Rates News – Bernanke Sees Recovery in the Housing Market
Today the Fed Chairman gave his testimony on the economic outlook before the Joint Economic Committee. In his testimony he stated that “we continue to expect economic activity to bottom out, then turn up later this year.” One of the key elements of the assessment is that the housing market is beginning to stabilize. I [...]
How Much Money Do You Need Saved?
Many of you are probably wondering this very question. If I quit or lose my job, just how much money do I need to have saved? Will I get back on my feet within three months or will it take longer? Well, in this economy, it is likely to take quite a bit longer than [...]
Obama Mortgage Plan Is Not Helping the Recovery
Today the National Association of Realtors said its index of pending sales rose 3.2% to 84.6, but here is the kicker, on strength in government building. The government continues to prop up this economy and housing market even though we have already invested trillions. A $1.75 trillion commitment to buying mortgage backed securities along with [...]
Mortgage Rate Predictions for May – Have We Seen a Short Term Bottom?
After back to back weeks of $50 billion and $75 billion in Mortgage Backed Securities Purchase, the Federal Reserve Bank took a huge step back. Last week our government only purchased $5 billion in MBS which is extremely small compared to what they did at the beginning of April. Ben Bernanke has made the commitment [...]
Subprime Lending Changed the Mortgage News Industry
Prior to February of 2007, “Mortgage News” was a keyword that was searched at a rather consistent rate. There were seasonal peaks and valleys as there are with many keyword searches, but there were rarely extreme peaks that showed national interest. In February of 2007 that all changed! When the subprime mortgage crisis became national [...]
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