Monthly Archives: April 2007

Just a reminder that taxes are due tomorrow, April 17 — even if your tax documents state otherwise. This is because of Emancipation Day, a legal holiday in the District of Columbia. Emancipation Day dates to April 16, 1862 when … Continue reading →

Unlike the stock market, it’s hard for the average person to know when the bond market is getting turned upside-down. So, looking back at last Friday, when mortgage rates jumped very, very quickly in a short period of time, a … Continue reading →

So, just how quickly have the markets turned? According to Fed Futures Trading as watched by the Cleveland Federal Reserve, on March 13, it was as likely that the August Fed Funds Rate level would be 5.250% as it would … Continue reading →

Interesting fact of the day: 55.5% of “wealthy” Americans have mortgages on their primary homes vs. 44.6% of the overall population. This doesn’t mean that the wealthy are more indebted than the rest of us; it means that the wealthy … Continue reading →

With three members of the Federal Reserve scheduled to speak today, don’t be surprised if mortgage rates show some brief volatility. Despite weakness in housing, the economy has shown resiliency and continues to push forward. Markets had widely expected a … Continue reading →

On strength in jobs and hiring, mortgage rates finished last week at their highest levels in six weeks. It was a slow week last week until Friday when — with the stock market closed for Good Friday and with most … Continue reading →

Today’s mortgage rates are getting slammed on the heels of the Non-Farm Payrolls report. Instead of hitting the consensus estimate figure of 135,000 jobs, the report showed a very large 180,000 new jobs created in March. Unemployment levels dropped to … Continue reading →

Want some help putting home values in historical perspective? Using the video game Roller Coaster Tycoon, Speculative Bubble created a roller coaster whose tracks follow home values (adjusted for inflation) from 1890 to 2007. The ride lasts three-and-a-half minutes, but … Continue reading →

Wondering how the dramatic change in sub-prime mortgage lending will impact you? Try this stat on for size: Since 1998, 1.4 million families have used sub-prime mortgages to buy their first home. As sub-prime lending guidelines get tighter, there will … Continue reading →

There is little on the domestic front to move markets today as traders wait for Friday’s jobs report. The jobs data will take on more significance this month than in recent months because of Ben Bernanke’s testimony to Congress last … Continue reading →