- By:
- Bill Rice - MortgageLoan.com | 11/28/2008 - 12:49pm
It's Black Friday, will they come? Black Friday a term linked to the fact that traditionally all retailers "make their year" by blasting into profitable territory for the entire year on the strength of holiday sales. This year may be a stark contrast.
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- By:
- Bill Rice - MortgageLoan.com | 11/27/2008 - 5:17am
In his regular press conferences behind the very Presidential-looking "Office of the President-Elect" podium Obama quietly is absorbing the Presidency. Despite being 11 weeks away from inauguration and still two weeks away from officially being declared President-elect by the convening of the Electoral College, he is undeniably taking the reigns of US economic policy.
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- By:
- Bill Rice - MortgageLoan.com | 11/26/2008 - 1:23am
The Federal Reserve and US Treasury have announced another bailout, this one theoretically for consumers and small businesses. This plan involves another $800 billion.
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- By:
- Bill Rice - MortgageLoan.com | 11/25/2008 - 1:54am
Housing prices drop 11.3 percent, that largest descent in 40 years. One might expect that to bring on a bargain home buying frenzy. No such luck, potential home buyer are staying put. The National Association of Realtors (NAR) reported existing housing sales taking a similar decline, down 3.1 percent, continuing to increase already bulging housing inventories.
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- By:
- Bill Rice - MortgageLoan.com | 11/24/2008 - 1:42am
Following Friday's 60 percent plunge of Citigroup stock, the Federal government again works through the weekend to avert disaster. The stock market took Citigroup on a plunge to $4 per share, leaving Citigroup with a $160 billion lose in value from a year ago.
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- By:
- Bill Rice - MortgageLoan.com | 11/21/2008 - 1:41am
One of the earliest ideas for helping homeowners facing mounting mortgage debt and potential foreclosure on their home was to reform bankruptcy laws. The concept is now officially back on the table, introduced into the Congressional lame-duck session by Senator Richard Durbin (D-IL).
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- By:
- Bill Rice - MortgageLoan.com | 11/20/2008 - 3:24pm
Remember what a crisis the $700 billion mortgage market bailout was--the very existence of the American financial order hung in the balance.
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- By:
- Bill Rice - MortgageLoan.com | 11/19/2008 - 1:03am
Almost a year into the dawning of the housing crisis (many chronologist are setting that around the January 2008 crumbling of Countrywide) ideas continue to flow, but few seem to be the answer. In fact, this seems to be the growing consensus--there is no silver bullet.
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- By:
- Bill Rice - MortgageLoan.com | 11/18/2008 - 1:00am
The 20 most powerful industrial nations, and now the caretakers of an unprecedented global financial crisis, assembled in Washington DC over the weekend. Their mandate was broad and daunting--stabilize world markets.
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- Bill Rice - MortgageLoan.com | 11/17/2008 - 1:55am
On the heels of the Treasury and Federal Housing Finance Agency's (FHFA) loan modification plan for Fannie Mae and Freddie Mac, the FDIC releases their own proposal. In this unprecedented, unilateral, and aggressive move by a Federal agency the FDIC is essential fighting a very public political battle directly with the Treasury and the current Administration.
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- By:
- Bill Rice - MortgageLoan.com | 11/14/2008 - 1:36am
Another week of dismal economic data have again pushed down mortgage rates. Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 6.14 percent, down from 6.20 percent last week. This demonstrates a steep decline from 6.46 percent two weeks prior.
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- By:
- Bill Rice - MortgageLoan.com | 11/13/2008 - 1:50am
Unclear on what facts had changed, Paulson outlined a radical departure from the core premise of the original TARP proposal. The US Treasury is no longer considering the buying of troubled mortgage-backed assets, which have now dropped to about 42 cents on the dollar.
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- Bill Rice - MortgageLoan.com | 11/12/2008 - 1:05am
Federal Housing Finance Agency (FHFA) Director James B. Lockhart unveiled the US government loan modification program to great anticipation. With over 300,000 properties under foreclosure filing according to RealtyTrac, a foreclosure tracking company, the relief can not come quick enough.
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- By:
- Bill Rice - MortgageLoan.com | 11/07/2008 - 1:56am
In a typical mortgage market, significant drops in mortgage rates would sweep in home buyers and mortgage refinancing. Not so in this market. In fact, several of the factors contributing to the recent decrease in mortgage rates are depressing home buying too.
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- By:
- Bill Rice - MortgageLoan.com | 11/06/2008 - 1:36am
Mortgage Bankers Association's (MBA) most recent mortgage lending survey reveals borrowers shifting strongly to fixed rate mortgage products. The MBA attributes this preference to a decline in fixed mortgage fixed rates and tightening of lending standards.
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- By:
- Bill Rice - MortgageLoan.com | 11/05/2008 - 1:33am
President-elect Barack Obama has crossed many historical marks: winning the longest election, raising and spending the most money, and becoming the first African-American President in US history. However, this will not likely end his setting new historical markers. He will take office without the luxury of peace or prosperity. Perhaps even more challenging, he will take office with a laundry list full of "hope"-filled promises.
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- By:
- Bill Rice - MortgageLoan.com | 11/04/2008 - 1:51am
Few Presidential campaigns have been run in the midst of crisis on the scale the US, and the World is currently facing. Whomever wins this historic election is going to immediately step into uncharted and choppy waters. Senator Barack Obama and Senator John McCain have very different views on this financial crisis. What might the fate of this election mean for you?
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- By:
- Bill Rice - MortgageLoan.com | 11/03/2008 - 1:16am
First American CoreLogic, representing direct mortgage data on 80% of all US mortgages, released its August 2008 LoanPerformance Home Price Index (HPI). This data release, unsurprisingly, revealed that housing prices continue to descend across the nation with very few exceptions. In aggregate US home prices are 11.3 percent lower than a year ago--putting 18 percent of homeowners with mortgages "underwater."
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