Is Zillow Credible? If and when I go to find another home loan, is Zillow going to set the rate? Is Zillow going to underwrite it? (Sorry – venting a little here.) In a report that some would say is “Big Brotherish”, according to research by Zillow Mortgage Marketplace, done with myFICO.com, any potential borrower
September 2010
It’s been slightly over two years since the government took over Fannie & Freddie and a few months since the Frank/Dodd Finreg bill was passed. And today the House Financial Services Committee is hearing testimony on the future of Fannie Mae and Freddie Mac. Below are some reference links. Of particular note are the two
A blog spat between TheBigPicture and ZeroHedge a few days ago is ancient history now, but seeing two heavyweights take shots at each other was rap battle-esque in its entertainment level. TheBigPicture author Ritholtz started it by asking, with his signature artisan curiousness, if ZeroHedge jumped the shark. ZeroHedge author Tyler Durden finished it, with
Private Mortgage Insurance Improving On the mortgage insurance front, PMI will be increasing its maximum LTV to 97% effective October 8. It is a good sign for many in the industry, and loans must have a minimum 720 credit score, be in non-distressed markets, owner-occupied, conforming, originated only through a retail channel, etc. And it
The S&P Case Shiller July 2010 report of existing home sales showed year-over-year 3.2% price gains averaged across 20 major metropolitan areas. Although home prices increased in most markets in July versus June, 15 metro areas saw these monthly rates moderate in July. This reporting period was after the peak of activity corresponding to federal
Will Fixed Rate Mortgages Disappear In U.S.? A new study of lending practices in 12 developed countries shows that the U.S. is an outlier in offering fixed rate mortgages. The study results showed that 95% of new loans made in the U.S. in 2009 were long-term fixed-rate products compared to 1% in Spain, 2% in
Will Fixed Rate Mortgages Disappear In U.S.? A new study of lending practices in 12 developed countries shows that the U.S. is an outlier in offering fixed rate mortgages. The study results showed that 95% of new loans made in the U.S. in 2009 were long-term fixed-rate products compared to 1% in Spain, 2% in
Calculated Risk assembled some Fed speak over the weekend that shows a changing stance regarding whether they’d step back into the mortgage bond market or engage in some other form of “quantitative easing” as soon as November—in the case of mortgage bonds, it means buying bonds to bid up the price and drive the yield
Compare Housing Costs In Different Cities Here’s a good site for Realtors or others looking to compare housing costs in different states and communities. Bank Failure #126 of 2010 Haven Trust Bank Florida (FL) was closed by the Florida Office of Financial Regulation, the FDIC was appointed the receiver, and First Southern Bank (FL) will
Rate/Market Recap, Week of September 20 Rates dropped .125% last week, mostly because of mortgage bond rallies following Wednesday’s Fed meeting where they alluded to more quantitative easing if economic conditions didn’t improve. This means they’d buy more mortgage bonds to bid prices up and rates down. Last week we learned that August new and
Saw this infographic on TheReformedBroker, it’s originally from MortgageRates. A bit of a stretch in its accusations but some of the quotes do justifiably incite Maestro madness. Click image for large size.
Saw this infographic on TheReformedBroker, it’s originally from MortgageRates. A bit of a stretch in its accusations but some of the quotes do justifiably incite Maestro madness. Click image for large size.
The Census Bureau reported this morning that Sales of new single-family houses in August 2010 were at a seasonally adjusted annual rate of 288,000, unchanged from the revised July rate of 288,000. This is 28.9% below August 2009, and the second lowest number on record, the lowest was posted May 2010. The median sales price
Bond Bubble? WSJ has the latest bond bubble talk, saying bond markets are growing riskier as investors seeking steady returns bid up prices and ignore some early warning signs similar to those that flashed during the credit bubble. Last week, prices on high-yield, or junk, bonds hit their highest level since 2007, nearly double their
Earlier this week, the NBER was a year late calling the end of the recession. And back in December 2008, they were a year late calling the beginning. The Daily Show video below is a good bit on the end of the recession, but still doesn’t top Paul Kedrosky’s masterful tweet a few days ago:
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