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Fed Meeting Ends With Rates Unchanged

The FOMC meeting concluded today with a statement that there would be no change to short term interest rates, citing mounting inflation concerns, despite a slowing economy.    This was widely anticipated by the markets and as a result there will be no change today’s mortgage rates.  Fed Meeting Ends With Rates Unchanged


Mortgage Rates Tick Up On July Employment Data

Mortgage rates will increase slightly today by about .125 to the points on mixed economic reports.   The Labor Department reproted that in July the unemployment rate was not as high as had been expected. This is good news for mortgage rates.  However, at the same time the number of job losses was lower than had been [...]


Mortgage Rates Up On Strong Reports

Bonds reversed course today, sinking as three pieces of economic data came in suggesting the economy is in better shape than thought.  First, Durable Goods Orders for June came in much stronger than had been expected, suggesting that the manufacturing sector is recovering.  Secondly,  University of Michigan’s Index of Consumer Sentiment for June came in [...]


 
    
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Mortgage Panic in California? Not so quick!

The media as usual has jumped on the negative bandwagon about the situation of housing and the mortgage industry nationwide.    Despite what you may read, ordinary folks are still getting loans and funding these loans at historically low interest rates day in and day out.   It is the small minority of no-income verification [...]


California Foreclosures Rise in the 2nd Quarter of 2006

DataQuick Reports Rise In the second quarter of last year, the number of new California Foreclosures surged 67.2% from the prior period in 2005, the fastest increase since 1992, according to a report from DataQuick Information Systems. It is scary to think what the reported rates will be for the 2nd and 3rd quarters [...]

   
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