Monthly Archives: November 2007

This 30-second video posted to YouTube and shows a home’s electric meter running backwards after installing solar panels. The meter runs backwards because the home is putting more power into the electric grid than it is taking out for itself. … Continue reading →

In real estate, the true cost of buying a home is always higher than the home’s purchase price itself. This is because of service charges from governments, lenders, and title/escrow companies. Because there is no such thing as “typical” closing … Continue reading →

Easy come, easy go. There was a strong rally Monday afternoon in the mortgage bond market. It was sudden and furious, mostly coming on in the last 60 minutes of trading. When markets closed, mortgage rates for conforming home loans … Continue reading →

Since November 1, the following banks have written-down at least $1 billion in their respective loan portfolios: Bank of America Barclays Bear Stearns Citigroup HSBC Morgan Stanley Wachovia Wells Fargo This is a big deal to people in the market … Continue reading →

In a holiday-shortened trading week, mortgage rates finished the week slightly improved. But, because many traders had left early for Thanksgiving, matching buyers and sellers at any given price proved to be an exercise. Mortgage rates bounced wildly as a … Continue reading →

Today is “Black Friday”, a day that many Americans get started on their Holiday Season shopping. Did you know? The earliest known reference to “Black Friday” is November 29, 1975. The term was mentioned in two separate articles, both with … Continue reading →

Fannie Mae and Freddie Mae are quasi-government agencies in that they are publicly-owned, but overseen by the government. The purpose of Fannie and Freddie is to make sure that money is available to homeowners that want home loans. Neither lends … Continue reading →

Mortgage bonds staged a late-day rally yesterday, exaggerated by the holiday-shortened week and because trader participation is light. (We’ll revisit this theme several times between now and the New Year so don’t get tired of it.) When mortgage bonds rally, … Continue reading →

In a holiday-shortened week with no major economic data releases, expect worries about the credit markets and speculation about holiday shopping to take center stage. Last week was a mixed bag for the economy and mortgage markets responded in kind. … Continue reading →

October’s Consumer Price Index was released Thursday and showed a 3.5 percent increase in the cost of living since October 2006. The report also showed a core inflation rate of 2.2 percent. The “core CPI” is a smaller part of … Continue reading →