The latest Fed meeting today will include, as usual, a policy statement, which is scheduled for release at 2:15 EST.
Many forecasters are expecting a .25 rate cut, but the policy statement, not the cut, may be a much larger market-mover than the actual rate decision.
Of particular importance to mortgage rates are any indication as to whether this is the end of the rate-cutting campaign, which would be bond-positive, and could ...
Home prices for the month of February were reported higher by 0.6% in OFHEO's most recent monthly survey (Office of Federal Housing Enterprise Oversight). This was on the heels of a 1.1% decline in prices.
So is this a sign that the housing market is rebounding?
Unlikely, is my opinion, although a positive number doesn't hurt matters. One thing to keep in mind is that in the spring, people tend to start listing ...
The government may come to the rescue of struggling homeowners sooner rather than later. Congress is attempting to pass a bill that would modernize the FHA home loan program and open the door to new home financing and refinancing options for millions.
Current FHA guidelines allow for borrowers with less-than-perfect credit or no credit to potentially qualify for a mortgage. However, it is difficult for a borrower who has fallen behind on mortgage payments ...
posted by RJ Baxter April 18, 2008 8:26 | permalink | comments(0) | Personal Finance Earnings Reports Sending Stocks, Mortgage Rates Higher
Major companies have been reporting earnings for the 1Q 2008 over the past couple weeks, and the reports have largely sent stocks higher and mortgage rates along with it.
Companies such as JP Morgan, Wells Fargo, and Google have reported better than expected earnings which has led to a buying bias and upbeat mood in Wall Street. Although JP Morgan's profits fell by 50%, the report was much better than expected and has ...
Jobs data was released today for March, and showing a decrease of 80,000 jobs for the month. The number was much worse than expectations, and additionally, the numbers for January and February were revised lower as well.
The overall unemployment rate sits at 5.1% nationwide, up from last month.
Employment data is one of the biggest indicators of the state of the economy and is one of the biggest influencers of mortgage ...
It's not suprise that underwriting standards across the board, with all lenders and loan programs, are tightening up, making it more difficult for borrowers to qualify.
The most recent announcement was by Fannie Mae. Fannie has released new underwriting standards, with the key changes being increased minimum credit scores required for qualification, and the "seasoning" period after a foreclosure being increased from 4 to 5 years. Borrowers with a foreclosure in their past must ...
