Monthly Archives: March 2007

The Consumer Price Index came in higher than expected this morning, registering a 0.371% increase. Excluding volatile gas and food prices, CPI grew by 0.241%. The latter figure is called “Core CPI”. CPI is sometimes referred to as the “Cost … Continue reading →

Home shoppers know to consider the impact that a new home will have on their household budget and that is called keeping your eye on the ball. Unfortunately, most shoppers are keeping their eye on the wrong ball. The proper … Continue reading →

The Mortgage Bankers Association released a report yesterday detailing how mortgage-holding homeowners are meeting their obligations. The statistics were a major factor in the Wall Street sell-off yesterday as investors increasingly grow nervous that sub-prime mortgage defaults will spill over … Continue reading →

For the budget-aware, buying a new home involves calculating how new PITI payments will impact the household budget. For in-town moves, the math is fairly simple — consider your existing budget and replace your old housing cost with your new … Continue reading →

The mounting pressure on sub-prime lenders sparked talk of a recession as economists wonder how the housing market will be impacted. Many sub-prime lenders discontinued 100% financing programs this past week and a few of the biggest names — New … Continue reading →

Mortgage rates are moving higher this morning after the 8:30 EST release of February’s jobs report. The 97,000 new jobs created was in-line with the 95,000 expectation, but January’s numbers were revised higher by 35,000 to 146,000. In addition, the … Continue reading →

The snowballing in sub-prime lending is becoming an avalanche. Effective today, many lenders have discontinued 100% financing programs and other “piggyback” scenarios. These types of loans represented the widest doors to homeownership for Americans in recent years. There are several … Continue reading →

Turbulence in the sub-prime lending market forced several big name lenders to shut their doors to business in recent weeks. In a healthy sub-prime environment, institutional investors buy mortgages in large bundles called “pools” from sub-prime lenders. The current environment … Continue reading →

Many of us are knee-deep in paperwork from our banks, our advisors and lenders as we prepare for the April 17, 2007 tax deadline. Yes, I said April 17, 2007. April 15 is a Sunday and April 16 is Emancipation … Continue reading →

Two weeks ago, the tone on Wall Street was overwhelmingly positive and the glass was half-full. Last week, however, that all changed. The week began with former Fed Chairman Alan Greenspan’s remarking that a 2007 recession may be looming, and … Continue reading →