First of all, I hope everyone had a very nice Thanksgiving. Even with all of these economic problems, we are still the envy of the world and living here sure beats second best no matter what you care to offer as an alternative. On Tuesday morning when it was announced that there was going to […]
Just a follow up to yesterday’s post - Great Mortgage News - Yes, the Fed is going to step in and buy up $500 billion in mortgage backed securities from Fannie and Freddie - this is the best news for Florida mortgage rates in years.
When I say this is the best news for Florida mortgage […]
Rates finally moved downward on the proposed government purchase of $600 billion in “good” mortgage debt. It seems that action by the Treasury and the Fed have finally had a positive effect on the mortgage market. The government has been trying to spur credit markets for months. The biggest of these markets is the mortgage/real estate […]
How could a second Fed bailout focused in on mortgage assets affect the Florida mortgage market?
Nearly one in three Florida mortgage borrowers owed more on their loans than their homes were worth in the third quarter, according to a report issued by First American CoreLogic of Santa Ana, California. Translated into cold hard numbers, that means that 1.2 million of Florida’s 4.2 million mortgages are on properties that are worth LESS than […]
Barack Obama is set to unveil his economic team on Monday. At the forefront and heading up the Treasury will be New York Fed president Timothy Geithner. To hear people speak about this guy, is to hear nothing but high praise. Is he the panacea that the economy and our Florida mortgage applicants, so desperately need? Wall […]
Fixed rates for Florida Mortgages have disconnected from 10 Year T-Bills. It’s not supposed to happen that way and Bernanke and homeowners and not pleased with this development. People with Florida mortgages are acutely aware of this widening spread and it is hampering the plans of those hoping to refinance into fixed rate mortgages. Ironically, […]
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