Monthly Archives: May 2007

Last week in the mortgage markets was thick with hype and thin with action. Whenever the Fed meets, there is potential for wild swings in mortgage rates. And, although the Fed doesn’t control mortgage rates, it’s views on inflation and … Continue reading →

When consumer spending slips, it can send shockwaves through the economy. Consumer spending, after all, makes up 70% of the economy. The best measure of consumer spending data is Retail Sales, a monthly figure describing how much money Americans are … Continue reading →

The Fed left the Fed Funds Rate unchanged again today for the seventh time in a row after 17 consecutive hikes. But, we knew that was going to happen. The Fed’s press release highlights a growing concern in mortgage markets: … Continue reading →

The Federal Open Market Committee meets today and markets will be hanging on their every word. There is virtually no chance that the Fed will change the Fed Funds Rate from its current 5.250% level, so its the Fed’s press … Continue reading →

In his weekly syndicated column, Kenneth Harney pulled back the curtain on a nasty piece of IRS tax code that can penalize homeowners with foreclosures and short sales. Because the IRS treats canceled debt as ordinary income, homeowners that “work … Continue reading →

Data painted a dismal picture for the economy last week including tempering inflation readings, slowing job growth, depressed home sale data, and ever-higher gasoline prices. This gave markets hope that the Fed may start to ease up on the Fed … Continue reading →

Relocate-America.com selected Asheville, NC as their #1 city in the annual report “America’s Top 100 Places To Live”. This is the second time that the mid-size city of 70,000 ranked in the list’s Top 10, compiled since 1998. Rounding out … Continue reading →

If yesterday’s ADP Employment Report is any indication, tomorrow’s jobs report may fall short of the 100,000 new job expectation from the Bureau of Labor Statistics. ADP reported 64,000 new jobs were created in April. The ADP report has never … Continue reading →

There’s a palpable uneasiness in mortgage markets right now and Friday’s payroll report looms large. Remember: it’s not the actual data that matters — it’s how close the data is to its expected levels. All week, traders have been jockeying … Continue reading →

Pop Quiz: Which interest rate is lower? 8.25% or Prime Rate? If you answered anything other than “they are the same”, then you can understand first-hand why banks refer to Prime Rate by name instead of by number. It’s a … Continue reading →