Archive for August, 2007
Next Entries »Checking Free Credit Reports Is A Good Idea
Tuesday, August 14th, 2007It has been a long time since we mentioned the government mandated
site at which consumers can obtain one free credit
report a year from each of the three major credit bureaus.
We have received a lot of
mments">comments and complaints from readers who have run their
credit reports that those reports did not include a credit
score…
GSE Attempts To Help Mortgage Market Squashed
Friday, August 10th, 2007…The Federal Reserve also stepped up both Thursday and Friday,
pumping billions into the system. The Fed said it stood ready to provide
emergency funds to banks and that it would do whatever was necessary to
keep markets from what Reuters called “seizing up.”
Reuters said that such statements from the Fed are
unusual, with the last having come after the September
11, 2001, terror attacks, and …
Are Mortgage Applications Up or Are Applicants Hedging Their Bets?
Thursday, August 9th, 2007Some interesting figures have been released by the Mortgage Bankers
Association which has announced that mortgage application
activity increased 8.1 percent on a seasonally adjusted basis
from the previous week and 7.7 percent when unadjusted. The activity is
18.0 percent higher than one year ago.
Mortgage Payments And Credit Cards - Two Examples Of Creative Thinking
Wednesday, August 8th, 2007American’s are hooked on credit card rewards and
while those that give consumers free airline miles are pretty old hat,
lenders are constantly coming up with new ways to lure the plastic
addicted to switch accounts.
Two of the newest variations involve mortgages and
both are rather creative…
Pending Home Sales: A Little Good News In A Grim Time
Friday, August 3rd, 2007We don’t usually cover the monthly report on pending home sales issued
by the National Association of Realtors® (NAR), concentrating instead on
NAR and the Census Bureau’s other reports on housing permits and starts
and the completed sales of new and of existing homes. However, with good
news in such short supply lately - perhaps the understatement of the
year - it seems worth talking about the smidgen of
sunshine that accompanied the pending sales report for June.
Mortgage Rates Eased By Weakening Housing Demand
Thursday, August 2nd, 2007Mortgage rates continued to ebb and flow within a
narrow range last week; most rates are little changed from where they
were in late July 2006.
Frank Nothaft, Freddie Mac vice president and chief
economist commented that “Mortgage rates eased this week on market
concerns that a further weakening of housing demand this spring will
delay any recovery in the sector. For example…
Alt-A Lender Crashes and Takes Stock Market With It
Wednesday, August 1st, 2007After two days in which trading was suspended on the basis of
information about margin calls, shares in American Home Mortgage
(AHM) were again put into active trading on Tuesday and
immediately lost over 90 percent of their value.
Stock in the company had been trading around $36 as recently as
February but had fallen to.