Notable Links
Living Beyond Yours Means - California’s Economy Gets Worse
California’s Pain Is Only Beginning
BIG SUR, Calif. — As Sacramento squabbles over the state’s $42 billion deficit, Californians are getting a bitter taste of what’s to come after the [...]
“Financial Catastrophe” - Part II
President Predicting Catastrophe
President Obama declared today that “A failure to act and to act now will turn crisis into catastrophe and guarantee a longer recession.”
Alan Blinder, a former vice chairman of the Federal Reserve, echoed the President [...]
Why Did So Few People Save For Hard Times?
A Recession of Biblical Proportions
Consumers usually build savings in booms, then raid their troves during busts - but not this time.
In booms we put away some of the abundance because we know we’ll need it in busts [...]
Fannie and Freddie - The New Subprime Lenders
Fannie and Freddie Impose Huge Fees On Borrowers
Freddie Mac last week announced additional fees for condo owners who refinance, effective April 1, 2009. The fee mirrors a similar charge imposed by Fannie Mae last year. Both Fannie [...]
New Federal Standards For Mortgage Industry Largely Irrelevant
Obama Plans Fast Action to Tighten Financial Rules
WASHINGTON — The Obama administration plans to move quickly to tighten the nation’s financial regulatory system.
Officials say they will make wide-ranging changes, including stricter federal rules for hedge funds, credit [...]
Fed Struggles To Lower Mortgage Rates
Fed Determined To Lower Mortgage Rates With Unconventional Methods
Mortgage rates started dropping late last year after the Federal Reserve announced that it would be purchasing mortgage backed securities (MBS) in an effort to lower mortgage rates. [...]
Mortgage Rates Surge Upward - Is The Refi Boom Over?
Mortgage Rates Up Sharply Over Past Week
Mortgage rates increased again today as the sell off in the long treasury market continued. The all time lows in the mid 4% range have quickly disappeared.
A short week ago the [...]
All Time Low Mortgage Rates For A++ Borrowers Only, Fed’s Efforts Futile
As discussed on December 31, 2008 many homeowners attempting to lower their mortgage rate apply for a refinance, only to discover that they do not qualify for the “low advertised rate” (Few May Benefit From Lower Mortgage [...]
30 Year Mortgage Rates At 4.5% - Is 3.5% Possible?
How Low Can Mortgage Rates Get?
According to Freddie Mac, the average 30 year fixed rate mortgage dropped for the 10th consecutive week to a new low of 5.01%. This is the lowest rate reported by Freddie Mac [...]
