March 15, 2010
Higher Interest Rates On The Way
We've had easy money since 2005. It got us into this housing mess. We've kept the Fed policy of easy money to try to get us out of the housing mess. The surge in the stock market is a direct result of easy money.
Filed under Rates by Luke Ford
February 10, 2010
Low Demand For Mortgage Loans
How are you going to take out a mortgage loan if you don't have a job? Or you fearing losing your job? Or your hours and benefits are getting cut back.
I love that Steely Dan song, 'Are you reelin' in the years?'
That's the song I hear in my head as I read about Federal Reserve chair Ben Bernanke talk about his plans to reel in the stimulus once the economy is on firmer footing.
February 9, 2010
Low Rates For Those With Great Credit Scores
You keep hearing on the news about record low mortgage rates. But you're having a hard time getting a hold of those low rates for yourself.
Exactly who is taking advantage of these low rates?
February 5, 2010
Mortgage Rates Edge Above 5%
This rise does not surprise me. What surprises me is that interest rates remain so low with the U.S. dollar so weak, and U.S. deficits so high.
The Primary Mortgage Market Survey from the government-controlled mortgage company assumed that borrowers owned a 20% stake in the house, had good credit and paid 0.7% of the loan amount in upfront points and fees to the lender. Many people pay additional points to lower their rates.
Filed under Rates by Luke Ford
February 1, 2010
Good, Bad And Neutral Debt
Not all debt is created equal. Some debt helps you build wealth. Other debt destroys lives.
Some debt is toxic. It ruins a person's financial position.
I should know. I have $30,000 in credit card debt.
Filed under Rates by Luke Ford
January 28, 2010
Interest Rates Remain Near Zero
Fed chair Ben Bernanke is about to be confirmed by the US Senate to a second term.
The Fed says that prospects for the economy are looking up. Despite this, they plan to keep interest rates near zero.
Filed under Rates by Luke Ford
January 7, 2010
Mortgage Demand Low
Despite near-record-low interest rates, the demand for mortgages in the U.S. is near a six-month low.
And with rates heading up, what next?
Can the housing market get worse?
Yes.
Filed under Rates by Luke Ford
The Federal Reserve has kept interest rates artificially low for most of the past decade. That is what caused the housing boom and bust. Rising interest rates would lower home values and cause more foreclosures, which in turn lower. home values.
Read more on Banks Warned To Prepare For Higher Interest Rates…
Filed under Banks, Foreclosure, Rates, Refinance, mortgage by Luke Ford
This should pep up refinances.
Rates went down to a record low of 4.71% in early December. Since they've been heading steadily up. There are all sorts of reasons driving this increase in mortgage rates including huge government deficits, a weak dollar, surging commodity prices…
Filed under Foreclosure, Rates, Refinance, mortgage by Luke Ford