We finally have the answer to who is responsible for the devastating effects of the housing crash of 2008. No, it wasn’t the big banks, or Wall Street, or even those despicable mortgage bankers. According to Presidential hopeful, and most likely our next Democrat nominee for President, Hillary Clinton, it was those good ole Republicans. Who else? Silly me, I…
Another shocking news headline! A new report by Trulia claims that the long-standing mortgage interest tax deduction available to all homeowners is mostly a benefit to white male homeowners (Inequality). Women and minorities are not getting the same benefit. The report goes on to show how a larger percentage of whites own homes (almost 63%), with the percent of those…
If you attended the recent Conference of Regional MBAs in Atlantic City, you heard Barry Habib, President of MBS Highway, talk about why he believes we may see another surge in refinances if/when the Fed raises short-term rates (Rates). Barry made a similar prediction last year of decreasing rates and was correct. We did see loan rates drop when the…
They may not be one of the 68 teams that made it to the big dance for March Madness, but like each team in the NCAA tournament, the FED says it “ain’t gonna be one and done”. They want to play on…(Fed Rates). In the December FOMC meeting, Janet Yellen, and the Fed, raised the short terms slightly. No real surprise…
We finally experienced the long anticipated short-term interest rate hike by the Fed. Now, what happens? There are all kinds of speculation. Some say it will help while others say it might hurt. When might the fed do it again? Much depends on how the economy reacts. We shall see. The stock market sure liked it, at first, now it’s…
With all the talk about programs and efforts to increase homeownership among minorities and low to moderate income households, comes just another example of Congress speaking out of both sides its mouth. Just recently the House overwhelmingly defeated a bill that would have extended a 10 basis point increase of the Fannie/Freddie guaranty fees (g-fees) to be used to fund…
