Posts about Mortgage Market Report as of September 30, 2009

Mortgage Market and the Jobs Report Technorati Tags: Mortgage Rates , Jobs Report Related Posts September 4, 2009 — Jobs Report – did I call it wrong? September 30, 2009 — There’s something weird going on with mortgage rates September 25, 2009 — The Fed and how long is “substantial length of time?” September 25, 2009 — Searching for Direction – in Mortgage Rates…. September 25, 2009 — Inflation? Higher Mortgage Rates?

If you can no longer afford to pay your mortgage, and the bank is threatening to foreclose your home, you may want to consider a short sale. A short sale occurs when you sell your home for less than what you still owe on the mortgage, and are thus “short” what it would take to pay off the loan. In many cases, the lender will allow the homeowner to sell the house for this amount and will accept it to pay off the mortgage. Short sales have several pros and cons.One of the biggest pros of a short sale is that you will not go into foreclosure.

Banks led by JPMorgan Chase & Co (JPM.N) reaped a bonanza of underwriting fees from debt and equity capital-raisings in the third quarter but a deepening slump in M&A activity depressed overall investment banking fees. Fee income from underwriting has become an important driver of bank profits this year, helping to offset big credit losses. Companies handed $8.9 billion in underwriting fees to banks in the quarter, up 65 percent from a year ago, according to Thomson Reuters data, as they took advantage of lower financing costs and the return of investor interest in riskier securities such as high-yield bonds.

by Natalie Totty Many people that have bad credit are looking to refinance their home. They should know that it is really not that hard to do and is not impossible. Contrary to belief, there are lenders out there that are bad credit mortgage lenders and offer bad credit mortgage refinance to consumers. They can tell you about all the many types of loans that you could qualify for, even if you have bad credit. If your credit is not too bad, they can also help you finding financing options as well.

The USD turned in a rather mixed day of trading as it mirrored what was taking place in the broad marketplace. The greenback showed early session strength on Tuesday but as the day progressed it began to give back its gains. Wall Street also turned in a rather cautious finish in negative territory albeit not in a dramatic fashion. Economic data from the U.S. was sparse with the CB Consumer Confidence survey reporting a negative 53.1 reading, below the estimate of 57.0.

Refinancings fell -0.8% Purchase Index fell -6.2% The Average Mortgage Rate fell to 4.94%.   4.61% was the lowest rate reached at the end of MarchThe rate decline is encouraging and has to stay down to squeeze out more sales now that demand from new buyers has kicked in a bit – especially in the shorter end where new home owners are taking advantage of the stimulus plan and rebate for new homeowner program. At 8:15 AM today the ADP Employment Change will be released for the month of September.  The expectation is for a -200K reading after a -298K fall last month.  The ADP report does not include government workers.

Refinancings fell -0.8% Purchase Index fell -6.2% The Average Mortgage Rate fell to 4.94%.   4.61% was the lowest rate reached at the end of March The rate decline is encouraging and has to stay down to squeeze out more sales now that demand from new buyers has kicked in a bit – especially in the shorter end where new home owners are taking advantage of the stimulus plan and rebate for new homeowner program.  At 8:15 AM today the ADP Employment Change will be released for the month of September.  The expectation is for a -200K reading after a -298K fall last month.  The ADP report does not include government workers.

Pssst. Hey, Napa Cab.  Yeah, you.  You better watch yer back ! That’s the underlying theme that I gleaned from a recent report by research group Wine Opinions .  The report was introduced at the last Wine Industry Financial Symposium in Napa.  There’s been a good amount of interesting discussion on the ‘Global Interwebs’ about the report’s list of top wine bloggers , measured by how frequently the blogs were visited by the wine industry respondents who contributed to the report survey. 

Today we launch our New Website. It’s bigger, better and more scalable so we can bring you even more news – both the good and the bad – to give you greater insight into Capital Markets. This is an ongoing project where we hope to introduce innovative tools and ‘out of the box’ thinking that may help you in your forex decision process. A plethora of data will hit the wires today and no matter what we get, there is month end selling of the USD. All week CBankers have been trying to verbally influence their own currency and that of the greenback.

You may be having question like when is the best time to refinance home mortgage loans. This may be difficult, as there are various factors affecting the credit facility, which decide whether you should go in for mortgage refinancing , or whether you ought to wait. Economic situation Interest rates depend upon the economic situation in the market. Frequently, the government often uses higher rates of interest due to inflation, and this affects the consumer’s net expenses.

£       The BoE dampened expectations of a cut in the reserve remuneration rate; which helped stem speculative pressures on the pound, but sterling remains down as the market subscribes to Governor King’s view that sterling weakness would be desirable G20 IMF Global Financial Stability Report: the estimate of global bank losses was lowered to $3.4trl (2007-10) from $4.0trl estimated in April, reflecting higher securities values and a new methodology; US banks have recognized about 60% of expected

by on September 30, 2009in Federal Government, Finance, Google News, News, mortgage brokers, property Australian Property Market Surges During June Quarter Money AU (blog) A report on the state of the Australian property market suggests that the Federal Government subsidy for first time home buyers has led to mortgage brokers … and moreTagged as: during-june, Federal Government, first-time, Home buyers, market-surges, mortgage brokers, News,

Sir Richard Branson’s Virgin Money, part of his Virgin Group intends provide robust competition to the Big Four banking groups in Australia, and is launching a car insurance product followed swiftly by deposits and lending facilities in the coming months. On Wednesday, Branson launched Virgin Car Insurance in Sydney, and sent a message to incumbents, telling consumers his company could offer Australians car insurance at rates which were 30 to 40 per cent cheaper than their current providers.

A  report on the state of the Australian property market suggests that the Federal Government subsidy for first time home buyers has led to mortgage brokers writing more than $18 billion in home loans for the quarter ending June, representing an 18 per cent rise compared to the same period in the previous year. The report authored by independent consultants Market Intelligence Strategy Centre says that home loans written by mortgage brokers during the June quarter amounted to $18.3 billion.

Filed under: Market matters , Bank of America (BAC) , Lennar Corp’A’ (LEN) , Toll Brothers (TOL) , Wells Fargo (WFC) , Housing , Cramer on BloggingStocks From TheStreet.com Network Bed Bath & Beyond: Above and Beyond POLL: Which Company Will Blow Up First? TheStreet.com’s Jim Cramer does not agree with one group’s idea the housing market will be hit by a glut of foreclosed homes. Until last night, when I thought of “Amherst” I thought of a school that my eldest daughter debated applying to.

Housing Prices Tipped to Go Through the Roof -That’s What Economists Say Sometimes i think id like some of the fantasy pills that economists take. And id also like a couple of the special “suspension of disbelief” drugs that are obviously issued to every journalist at the beginning of every working day. Because here we have the latest report of the comments from Reserve Bank economist Dr Tony Richards. Screaming headlines greeted us regarding a potential surge in housing prices in Australia.

Click here for more on Adsense Website (Insurance) Online Home Business Please be sure to read the Answers to Your Questions.They include very important information, including additionalcosts required to run a Successful Adsense Website.We are not a free Feedback Service. We will not provide Feedback until you pickup your Auction Item as describe at the end of this Auction. You are bidding on the following Adsense Website Insurance View Demo Note to eBay: the above link is to show the customer the site that they will be purchasing.

“From a technical perspective, the recession is very likely over at this point,” Federal Reserve Chairman Ben Bernanke is quoted in the WSJ’s MarketWatch as announcing at the Brookings Institution on September 15, 2009. What he failed to mention is that, from a real-life perspective, the Depression is well underway. Bernanke’s “technical” bright spots–home prices and sales are up, job losses have slowed, retail sales are up, the stock market is rallying, and similar “indicators”–are a sad collection of half-truths, fraudulent statistics, and the effects of government support, none of which justify his claim that the recession is over.

Timber Industry Report September 28, 2009 Lumber prices fell 15%, housing starts and building permits are up only slightly, and unsold inventory actually rose after falling for months.  Perhaps the brightest spot this month is the historically low mortgage interest rate.   See the 3-year price tracking for lumber, logs, housing starts, permits, unsold home inventories, and mortgage rates below.

I’ll jump back into posting with a few thoughts on housing. First, Case-Shiller as out with its July home price survey. It followed the trend of improving prices established over the last couple of months. Nationwide prices were up 1.6% and the number of cities showing price declines dwindled to just two. Here are the numbers for the twenty cities in the survey. (About the numbers: The Case Shiller indices have a base value of 100 in January 2000.

All and sundry report on a new Obama Administration proposal to provide $35 billion in emergency funds to state and local housing agencies in order to subsidize new mortgages. The money — $20 billion in purchases of bonds issued by state housing finance authorities (HFAs), and $15 billion in as-needed followup funding for the HFAs — is designed to get states back on track to subsizing more than 100,000 mortgages per year. Most HFAs have closed their doors to new borrowers since the credit unwind began.

The Week in Review: The big news last week was the Fed’s decision on how they will continue to help keep interest rates low. They decided to fulfill their commitment to buy $1.25T in Mortgage-Backed Securities. However, instead of buying all by the end of the year as originally planned, they will spread the remaining purchases out through the first quarter 2010. On the week, home loan rate improved about .125% What to Expect: What does the Fed announcement mean? The announcement indicates that they will wean themselves off of the program and let the market correct slowly vs.

One of the current reason many people are lockng into five year fixed term mortgages is the concern that interest rates will rise sharpely due to hyper inflation taking hold in the US. Here is an article that covers some information that has come out from the head of the US Federal Reserve. In t Ben Bernanke is very clear that there is a plan in place that will allow them to emove the stimulus from the economy and keep inflation in check.

The economic well-being of the United States is dependent on the reliability, safety, and security of its physical infrastructure. The nation’s infrastructure is vast and affects the daily lives of virtually all Americans. In total, there are about 4 million miles of roads, 117,000 miles of rail, 600,000 bridges, 79,000 dams, 26,000 miles of commercially navigable waterways, 11,000 miles of transit lines, 500 train stations, 300 ports, 19,000 airports,5 55,000 community drinking water systems, and 30,000 wastewater treatment and collection facilities.

It was somewhat of a hectic and stressful day as a trader which started out solid, ended up gettin worse, but as always i usually come through in the end on top. Our position in RODM which i bought for the Black Service portfolio yesterday @ 5.90 continued its run up today to close the session @ 6.38 after yesterdays breakout. This chart is looking primed for continuation as the lack luster market hasn’t seemed to phase the inner bull in this lad.

In the kind of session where the bulls normally lure the bears out of the deep woods and then launch the kind of guerilla assault that seemed so charming in the Erroll Flynn version of ”Robin Hood,” neither side actually played its role at all. Stocks reacted with initial indifference, and then a little disappointment to some unflattering economic data. Then market averages drifted sideways for much of the session until the trading session crept to the juncture in the final hour when the bulls normally make their stand.

Freeport, Bahamas conference – January 2010 Vad’s sessions – 2 days, including live trading Sleepy but nicely profitable day. AIG, RIMM, UAUA, GAME worked nicely for us, with two small stops on HIG and CHIP. Session Time: Tue Sep 29 00:00:00 2009 [06:38] {KSystems} *yawn* [06:38] {KSystems} good morning [07:59] {magoo} morning [08:08] {ese} good morning if anyone is hangin [08:11] {patience} morning ese [08:15] {ese} morning

by Tony Kid Searching for bad credit home loans will prove to you that there is plenty of help out there. So many new programs are available that it makes it almost hard not to find one that fits you and your needs. People with bad credit have more options today than they used to, due to the fact that so many people have ended up with it. If they shut out everyone with bad credit, they’d lose a vast market indeed. So don’t be discouraged if you have bad credit, there’s a way for you to get the loan for the home you want.

      According to the latest figures from the Case-Shiller Home Price Index, seasonally adjusted home prices rose again in July. That marked the third straight monthly gain for the heavily watched index, which gauges home prices in 20 U.S. cities. However, beneath the cheery headlines there was this downer…. Compared to July 2008, home prices are still down 13.3% year over year. That’s the cold hard reality that most people would just as soon ignore.

Pop quiz: what happened a year ago today? Here’s a hint: The House put the kibosh on the first rendition of The Emergency Economic Stabilization Act of 2008 — Former Treasury Sec’y Hank Paulson’s three-page request for a $700 billion blank check for his buddies on Wall Street. “Investors” threw a tantrum, crashing the Dow 777 points — its biggest point loss in history. Approximately $1.2 trillion in Wall Street shareholder value was wiped out, also a record. This day a year ago, the real market pain began.

Pop quiz: what happened a year ago today? Here’s a hint: The House put the kibosh on the first rendition of The Emergency Economic Stabilization Act of 2008 — Former Treasury Sec’y Hank Paulson’s three-page request for a $700 billion blank check for his buddies on Wall Street. “Investors” threw a tantrum, crashing the Dow 777 points — its biggest point loss in history. Approximately $1.2 trillion in Wall Street shareholder value was wiped out, also a record. This day a year ago, the real market pain began.

The rally may end any day, but it didn’t end yesterday. Stocks rose 127 points, as measured by the Dow. Oil closed at $66. Gold rose $2.50. We said we were doing some serious thinking this week. Maybe it is the season. But more and more, our thoughts become grayer. Less black. Less white. Less hard. Less soft. A few years ago, it looked to us as though the world financial system had gone to war. We cheerfully awaited the victory parade. We figured Mr. Market would whup the feds good and hard.

The rally may end any day, but it didn’t end yesterday. Stocks rose 127 points, as measured by the Dow. Oil closed at $66. Gold rose $2.50. We said we were doing some serious thinking this week. Maybe it is the season. But more and more, our thoughts become grayer. Less black. Less white. Less hard. Less soft. A few years ago, it looked to us as though the world financial system had gone to war. We cheerfully awaited the victory parade. We figured Mr. Market would whup the feds good and hard.

Pop quiz: what happened a year ago today? Here’s a hint: The House put the kibosh on the first rendition of The Emergency Economic Stabilization Act of 2008 — Former Treasury Sec’y Hank Paulson’s three-page request for a $700 billion blank check for his buddies on Wall Street. “Investors” threw a tantrum, crashing the Dow 777 points — its biggest point loss in history. Approximately $1.2 trillion in Wall Street shareholder value was wiped out, also a record. This day a year ago, the real market pain began.

House repossession is probably one of the worst things a family would ever have to face. Not only have you had to deal with all of the negatives that come along with being delinquent on your bills, such as the constant letters and phone calls but you also have to deal with the long term effects for house repossession, such as loan denials and bad credit. Depending on your circumstances, you may be able to work out alternatives with your finance company to keep you in their good graces and keep your family and your credit above water.

Economic indicators drive the market week in and week out.  We start this week on a low note and finish with a high one. Jobless claims are reported Friday.  Higher than expected claims can mean rates could  go down…lower than expected: rates could go up.  Bad news for the economy helps interest rates and the opposite holds true as well.

As a result of another sign of dwindling confidence about MBIA Incorporated’s ( MBI ) business prospects, Standard & Poor’s (S&P;) has downgraded its ratings on the parent company as well and its structured finance insurance arm, MBIA Insurance Corporation. Rating of the parent company has been slashed by one notch to “BB+” from “BBB” and its subsidiary MBIA Insurance Corporation’s rating has been slashed by one notch to “BB-“ from “BB.” While the parent company’s rating stands at one step below investment grade, the subsidiary’s rating has been reduced to three steps below investment grade.

Marc Faber Takes on Krugman, Links Bernanke and Mugabe Mr. Krugman “thinks it would be very good to have another bubble in the world and deal with it later on,” according to Mr. Faber. Mr. Krugman, the columnist and Nobel prize winner, has advocated a strong government stimulus and big deficits to jumpstart the economy. Mr. Faber, a Hong Kong-based investor and author of the Gloom, Doom & Boom report, suggested Mr. Krugman’s piece, entitled “How Did Economists Get it So Wrong,” missed the mark.

The Case-Schiller Index, the gold standard of housing price indexes, showed widespread increases in July versus June. Housing prices do have an element of seasonality to them, so it is best to look at the seasonally adjusted numbers. Most of the press makes the mistake of using the unadjusted numbers, so this analysis might have some differences from the headlines you see elsewhere. However, on both a seasonally adjusted and unadjusted basis, the story is much the same: at least for now, the bear market in home prices appears to be over.

History matters. As HECM (Home Equity Conversion Mortgage), and the multi-billion-dollar* reverse mortgage industry it has spun, turn 20 this year, it is fitting that we take a moment to reflect on the industry’s first two decades through the eyes and work of those who were not only present at its creation, but also made significant contribution to its growth. Nelson Hayes of Deering Savings & Loan made the first reverse mortgage in U. S.