Numbers as Expected for 3rd Quarter GDP and Consumer Sentiment
Bullish traders won't have much to brag about for their week's performance in equity markets, but they can certainly be pleased that they have finished the month of October without any sizeable...
View ArticleMonday Proves to be the Beginning of an Eventful Week
As mentioned in the morning article on Friday, trading volume did end up light and the markets struggled to pull off an even modestly higher close. The Dow, in fact, finished the week down just 15...
View ArticleMortgage Rates: What If?
Tomorrow is the day we've all been waiting for....At 2:15pm, the Federal Open Market Committee (FOMC) will release their policy statement. At 2:15pm we find out if Quantitative Easing becomes a...
View ArticleElection Results Leave Hope for the Mortgage Industry
Wow was just Tuesday a busy day! The FOMC started their regularly scheduled meeting on Tuesday and will announce their decision this morning in a little over an hour. They should be letting us know...
View ArticleAnother Monday at Harbor Lending
Equity markets enjoyed yet another week of positive gains last week. As of last Friday, the Dow has had 6 straight sessions without a negative close. Hence, with the Dow closing in positive territory...
View ArticleWhile the Dollar Grows Stronger, FHA's Fiscal Report Reveals 10.3% Decrease...
The Dow closed lower yesterday, albeit only down 37 points. Even still, the 6 session winning streak came to an end and stocks are bouncing all around the flat line once again today. Credit markets...
View ArticleForeclosure Mess Will Trickle Down to Borrowers. "Quality Tax" Looms
The WSJ quoted me today as claiming what amounts to a “quality tax” will be passed down to consumers as a result of the mortgage debacle both from the origination side and the default sides of the...
View ArticleA Veteran's Day Update
Stock markets have really struggled this week to continue the rally of the last couple months. It seems we have hit the end of the rally, and weakness prevails in equities once again in today's...
View ArticleAfter a Bad Stock Performance Last Week, Things Are Looking Up
Stocks suffered their worst performance last week in over 3 months. The Dow closed down 91 points on Friday, giving the blue chips a loss of 251 points for the week, or 2.2%. That was the worst week...
View ArticleHome Builder Confidence Tempered by Credit Access
The component gauging current traffic of prospective buyers rose one point to 12, and the component gauging current sales conditions held unchanged at 16.Crowe noted "The most concerning aspect of the...
View ArticleStock Market Remains Flat, Let's Hope for an Increase!
Yesterday ended up being a very good day for mortgage rates. On Monday, there was a literal drubbing of the credit markets due to all the bantering going on about QE2 and how upset other countries...
View ArticleThe Market Remains at a Low Point for this Holiday Season
This week looks to be heading for a negative weekly close for stock markets for the 2nd week in a row. The Dow closed last Friday, down 91 points, at 11,193 . . . we presently sit at 11,164 -- down...
View ArticleGSE Loan Limits Unchanged Through Q3 2011
Agency conforming loan limits for the first three quarters of 2011 have been set by the Federal Housing Financial Agency (FHFA), and, for the third year in a row they remain unchanged. In most of the...
View ArticleFHFA Outlines Rules for FHLBank Mergers
he Federal Housing Finance Agency (FHFA) on Monday published an invitation for comments on a proposed rule governing the merger of Federal Home Loan Banks (FHLBanks or Banks). The new regulations will...
View ArticleMarkets, Income, and Consumer Sentiment Looking Good for this Thanksgiving...
We caught a little break yesterday with credit markets improving one extra day for the week. All bets were on credit markets moving well into a safe place ahead of the holiday, but with the help of...
View ArticleA Holiday Market Update
We have a nice start to the week with credit markets in rally mode as equities struggle early this morning. The Dow had a losing week in last week's holiday-shortened trading -- losing 63 points. The...
View ArticleRed Flags Raised Over Consumer Protection Bureau's Funding Method
Federal Reserve Bank of St. Louis President James Bullard expressed concern on Monday that the newly created Consumer Financial Protection Bureau (CFPB) may not be funded appropriately to handle the...
View ArticleOpinions of GSE Culpability Conflict at Housing Conference
Courtesy of Mortgage News Daily, by Jann SwansonIn mid-November the Federal Reserve Bank of St. Louis sponsored a conference on the "Past, Present, and Future of the Government Sponsored Enterprises...
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FDIC Chair and Others Testify on Loan Servicer Weaknesses and Potential Remedies
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View ArticleIndustry Professionals Share Input on State of Mortgage Market
Courtesy of Mortgage News Daily, written by C.M. WattsA little over a week ago Garrett, Watts & Co held its annual client appreciation dinner in San Francisco. The event took place at the Palace...
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