Mortgage Archive

Mortgage Rates Mostly Higher in Week

Average mortgage rates in the U.S. were mostly higher during the past week, while the 30-year fixed rate remained near historic lows, according to mortgage-finance company Freddie Mac (FMCC). Freddie Mac Chief Economist Frank Nothaft said fixed-mortgage rates rose slightly following a positive employment report for December, which showed that the unemployment

Mortgage Rates Likely Headed To 4.5%

Government action to shore up the economy and improve the housing climate probably will send mortgage rates to 4.5 percent, Bill Gross, co-CEO at the Pimco bond fund, said Monday. In addition to driving down mortgage rates and stimulating home-buying, the government’s efforts also could include a move to cap Treasurys rates

U.S. Pending Home Sales Probably Fell in March for Second Month

Bloomberg has latest story about US Pending Home Sales: U.S. Pending Home Sales Probably Fell in March for Second Month Fewer Americans probably signed contracts to buy previously owned homes in March for the second consecutive month as falling prices and tougher loan rules discouraged buyers, economists said before a report today.

Credit Crunch Hurts Hedge-Fund Stars

WSJ: Credit Crunch Hurts Hedge-Fund Stars David Tepper, founder of hedge-fund firm Appaloosa Management LP, saw a negative 17% return last quarter in two funds with more than $6 billion in assets combined as bets on distressed debt went awry, according to fund documents. His Appaloosa Investment and Palomino funds gave up

New Home Sales: Why Do Investors Care

New home sales measure the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates housing market trends and, in turn, economic momentum and consumer purchases of furniture and appliances. Why Do Investors Care?This provides a gauge of not only the demand for

Interesting Stories Of The Day

Taxpayers May Be Liable for Billions From Bear, Mortgage Rescue Even as the Bush administration insists it won’t risk public funds in a bailout, American taxpayers may already be liable for billions of dollars stemming from Federal Reserve and Treasury efforts to quell a financial crisis. History suggests the Fed may not

Nouriel Roubini Break Up

Nouriel Roubini Professor of Economics at New York University’s Stern School of Business, breaks it up for us as to how ugly it is out there. Initial claims for unemployment benefits now at their recession level signaling the beginning of a serious slack in the labor market. Durable goods order falling –

Is This The Bottom For Housing Stocks ?

The housing market is definitely in deep recession. Every now and then pumpers try to convince retail investors that housing has bottomed, and this is the time to start buying housing stocks. CNN Money covers an article stating how experts completely got housing wrong. Another interesting article about the bottom can be

All Signs Point To A Recession

The index of leading economic indicators fell for the third time in four months in November, signaling an increasing risk of a U.S. recession. The deepest housing slump in 16 years is likely to worsen as foreclosures mount and banks restrict lending, economists said. Declining property values and rising energy costs may

Why Its Time To Be A Bear

Financials SlideGoldman Sachs Group (GS). on Tuesday gave a cautious outlook for Wall Street in 2008 because of the ongoing credit crisis, even as the world’s largest investment bank chalked up another record-breaking year. During Q4, Goldman’s $3.17 billion profit was fueled by higher investment banking fees, one-time asset sales, and surprisingly