Monthly Archives: September 2011

Mortgage Interest Rates, Price Of Sex Hit Records Lows

This rings true to me. I’ve never had much money. I used to live out of a 1977 Datsun stationwagon and I made it with half a dozen women in there in 1994. I wonder if part of this has … Continue reading

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Home Sales Decline 2.3% In August

We have record low mortgage interest rates. We have home prices off 30% from their highs in 2006. We’re in peak home buying season. And yet home sales keep falling month after month. We’re headed for the worst year in … Continue reading

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Texas Benefits From Federal Reserve’s Policies

Republican candidate for presidential nomination, Rick Perry, has gone after the Federal Reserve with strong words, but a new study shows that Texas has disproportionately benefited from the Fed’s easy money policies. Some other things have helped Texas as well … Continue reading

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Bank Of America Pushes More Into Foreclosure

Bank of America has been harder hit by the mortgage crisis than any other bank. Only Wells Fargo comes close with a disproportionate share of their assets coming from mortgages. As Bank of America tries to clean up its mortgage … Continue reading

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Federal Subsidies For Upscale Mortgages End Oct 1

These caps to jumbo loans are already in effect in practice even though they don’t technically come into force until Oct. 1. More expensive homes won’t qualify for FHA loans anymore. These loans require a 3.5% down payment, a far … Continue reading

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The $1 billion Emergency Homeowners’ Loan Program

Another government program to help the housing market is coming up short. It has funds left unspent. Not as many people have taken advantage of it as was predicted. A shorter window for making an application to the program has … Continue reading

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Mortgage Borrowing Costs Must Rise

Fannie Mae and Freddie Mac are raising their fees for mortgage insurance, reducing Fannie and Freddie’s reliance on taxpayer subsidies. The trend is for a pullback in government support for mortgages. This is part of the overall pullback in government … Continue reading

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Blaming The Big Banks For The Housing Crash

Politicians want to blame the big banks and Wall Street for our recession and housing crash. They want to bleed the banks and make the big moneymen pay up to government and then distribute these payoffs to the politically connected. … Continue reading

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Were Fannie/Freddie Naive About Mortgage-Backed Bonds?

The federal agency managing Fannie Mae and Freddie Mac are suing 17 banks for selling toxic mortgage-backed bonds. Fannie and Freddie have been buying subprime mortgages for more than a decade. They were forced to by their political supervisors who … Continue reading

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A Bigger Down Payment Will Give You More Mortgage Options

If you’re not used to living below your means, you’re not going to be able to handle owning a home. There are always unexpected expenses when you buy a home. Your sewage system might get damaged by a tree’s roots … Continue reading

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