In August, home builders broke ground on
the fewest number of homes since January 1991.
It was the 16th straight month in which Housing Starts declined.
But, although the press labels these statistics indicative of a recession, home sellers nationwide quietly applaud them.
With fewer new homes coming on...
For those who read my earlier post, I stand corrected. The Fed did not cut the 1pt I forecasted. The Fed stayed course and kept the Fed Funds rate unchanged.
For the third consecutive meeting, the Federal Open Market Committee left the Fed Funds Rate unchanged at 2.000 percent.
Of...
The old adage of flight to safety was more than apparent in today’s market.
The inverse relationship between stocks and mortgage backed bonds played true today. After a massive sell off in all major indexes, Mortgage Backed Bonds closed at a 6 month hi.
With newfound liquidity in the mortgage bond market,...
Fed Fall 2008 Rate Cut
The Federal Open Market Committee (FOMC) is scheduled to meet again this week and it’s predicted that rates will be cut again. It’s commonly thought that a cut in interest rates by the FOMC brings with it a decline in home mortgage rates.
This is not always true.
If you are...
I consistently hear uninformed and misinformed individuals take the easy way out when speaking about the current mortgage and real estate fiasco, by blaming the mortgage mess on Bush and his presidency. I have drafted a quick primer on what happen and how we ended up in this lovely mess that will so fondly...
