Mortgage applications fell drastically last week and some believe it is the direct result of the new TRID rules (Apps Decline). Could it be that lenders were able to push many applications to the prior week due to the fears created by the need to comply with new disclosure rules? Do lenders have such powers to make buyers move up…
If you’ve been following my blog lately (and I sure hope you are), then you know I’ve mentioned on more than one occasion the outlook for housing, and how that relates to lending. Here’s another one. Recently, Mark Fleming, the chief economist for First American, commented that he believes a slight interest rate hike by the Fed would not have…
Watching the minute by minute updates all day of the Dow movements, on Monday (8/24/15), was like taking my grandsons to the boardwalk last weekend to ride the amusements. At times, it was frightful, exciting, and, a little scary? In the end, it was all very tiring. When all was said and done, I had spent a great deal of…
With all the talk lately about whether the housing market is improving or not comes a new study from BMO Harris Bank reporting that over 50% of Americans say they will buy a home within the next 5 years (More Buyers). I wonder if this study includes illegal aliens, or should I say undocumented visitors. I digress… This comes as…
Wow, this one has me a little worried, no, a lot worried! Under what is called the “duty to serve” requirements of the Housing and Economic Recovery Act (HERA) of 2008, FHFA, the agency that oversees both Fannie and Freddie, is pushing these agencies to purchase loans made for the purchase of mobile homes (Scary Proposal). Interestingly, the proponents of…
There is serious talk of a potential rate hike coming as soon as September. Hey, that’s less than a month away, and signals the end of the summer. Bummer! Insiders believe the chances of this rate hike are running at just above 50% (Rates). Wait, that also means there’s about a 50% chance that rates won’t rise. What do you…
