Monthly Archives: January 2008

For all that’s been said about the proposed Bank of America-Countrywide merger, what’s not getting talked about is how the merger will impact existing Countrywide customers. The short answer is that it won’t. A mortgage (and its corresponding note) is … Continue reading →

Markets are welcoming the return of cold, hard data this week. Most of last week was spent making sense of Fed speakers, recessionary fears, and a takeover of the nation’s largest lender. This week, we’ll find out if the recent … Continue reading →

Clipped from NBC’s Today Show, real estate maven Barbara Corcoran talks about preparing your home for sale. As usual, her remarks are spot-on. Some highlights from the 5-minute video: Go online and shop for your own home first Empty your … Continue reading →

Private Mortgage Insurance (PMI) is an insurance policy paid to a lender in the event that a homeowner defaults on his home loan. These defaults are up 35 percent over last year, according to an industry group — bad news … Continue reading →

Some quick statistics: 13% of Americans will die before age 65 28% of Americans will face a long-term disability before age 65 and be unable to work and/or earn an income Despite these facts, Americans are twice as likely to … Continue reading →

Since September 2007, the Federal Reserve has lowered the Fed Funds Rate by 1.000%. This has caused Prime Rate to fall by 1.000%, too. This is because the Fed Funds Rate and Prime Rate are directly related. In mathematical terms, … Continue reading →

Stock markets tanked last week behind high oil prices and weak employment data. Amid a sell-off that led to a 4.5% decline in the S&P 500, investors sought safety in the bond markets. As a result, mortgage bonds improved last … Continue reading →

On the first Friday of each month, the Bureau of Labor Statistics releases key data about the American workforce. The report is officially called “Non-Farm Payrolls” but most people refer to it as the “jobs report”. The jobs report’s influence … Continue reading →

The price of oil briefly touched $100 per barrel yesterday, just short of the all-time inflation-adjusted high of $102.81 in April 1980. According to economic forecasting firm Global Insight, each $10-per-barrel increase in oil prices: Increases gas prices by 19 … Continue reading →

It’s a short, but heavy, week for mortgage markets. Investors are returning to the fray after a few lighter-than-normal weeks and their return should bring some stability to mortgage rates. Last week, mortgage bond prices rose which, in turn, moved … Continue reading →