Bonds Sell Off, Credit Ratings In Doubt & Mortgages ReDefault
Every day there are many great posts on the web. Here are some from the past week that merit a full read. The listing order is random.
Ok, I’m Done With Being Nice
Karl Denninger does not play nice [...]
Geithner - “I am not a crook”
“Chinese assets are very safe”
This remarkable assertion regarding the safety of US debt securities held by China was made by Timothy Geithner, US Treasury Secretary, during his visit to China. That Mr. Geithner felt compelled to make [...]
The Futility Of Lower Interest Rates, Obama Motors, “Atlas Shrugged” Sales Surge & Confidence Mounts
As stock markets surge, GM’s future is suddenly bright and consumer confidence soars, here are some recent blog posts worth the read with some alternative insights.
Why lower interest rates are not effective monetary policy
If too much debt [...]
Mortgage Rates Skyrocket As Fed’s Rate Manipulation Fails
Markets Will Ultimately Determine Long Term Interest Rates
Treasuries continued their sell off today as the yield on the 10 year benchmark bond climbed to 3.72%, a stunning increase from the recent lows just over 2% in late [...]
Are You The “Perfect” Mortgage Borrower?
Low Rates But Large Fees
Only the perfect borrower gets the lowest advertised mortgage rate in today’s market. Many mortgage borrowers are now subject to various fees based on credit score, loan to value, property type and loan [...]
Banks Offering 3.875% Fixed Rate Mortgages
TARP Dollars Deployed
Two Washington State banks are now offering 30 year fixed rate mortgages at 3.875%.
SPOKANE, Wash. – Spokane-based Sterling Savings Bank and Walla Walla-based Banner Bank are offering mortgages at interest rates below 4 percent to [...]
HUD Imposes Dramatic Restrictions On FHA Cash Out Refinances
FHA Tightens Rules Again
First there was an increase in the required credit scores to be eligible for FHA financing. (See FHA Increases Minimum Credit Score Requirement). Now comes a major tightening of the rules on FHA cash [...]
Jumbo Mortgage Rates Reflect Default Risk
Economic Crisis Impacts All Borrowers
Jumbo mortgages, typically loan amounts above $417,000, are defaulting at a rapid pace as the economic crisis affects borrowers at all income levels. Bloomberg is reporting that jumbo mortgages, typically associated with higher [...]
Defaults Everywhere - More Lending Is Not The Solution
Mortgage Defaults Only Part Of The Problem
Mention loan defaults and most people probably think of mortgages. Home foreclosures due to mortgage defaults are getting the bulk of press coverage and the most attention in Washington. The credit [...]
