The year started out with great anticipation. We had a new president, a new administration, with plans to improve the economy and get people working again. Even with talk of interest rate hikes, things were buzzing due to the potential for more jobs, wage growth, fewer regulations, with tax and healthcare reforms. America was ready to get back to the…
A recent Institute for Supply Management survey shows that, by margins of more than four-to-one, companies that were increasing their capital spending plans because of an “improved business outlook” rather than “prospects for regulatory reform.” At the same time, businesses and consumers are still awaiting evidence that President Donald Trump and Congress can quickly enact and implement legislation covering tax cuts,…
According to the Federal Reserve, the amount of consumer outstanding debt now exceeds the pre-2008 crisis levels. That means consumers owe more money today than they did back in 2008. The difference is in the makeup of that debt. Today, consumers owe more in combined non-mortgage debt than they do in home financing. Not surprisingly, student loans lead the pack.…
I don’t know about you, but I am fed up with the political BS going on in Washington, DC with the President, his cabinet, tweets, conversations, and the election. It’s over! It’s time to get on with running the Country. The Democrats only interest is in discrediting Trump and blocking anything he tries to do. Regardless of any potential benefits…
In ongoing efforts to increase homeownership rates and provide home financing to underserved markets, both Fannie and Freddie are entering the mobile home financing market. This is part of their ‘Duty to Serve’ requirements under the 2008 Housing and Economic Recovery Act that I mentioned in an earlier blog. The intent is to expand the market for the purchase of,…
It seems like forecasting the level of new loan mortgage originations is getting like forecasting the weather. There are a number of pretty good indicators. But, things keep changing which makes it difficult to get it just right. Initially, the outlook was for rising interest rates, declining refi’s, and a bullish new purchase market. Fannie had predicted that 2017 would…
