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Need a Hand?
Your Next Project Starts with Brownstoner
Biff…check out sixyears’ comment in the Third & Bond thread.
here’s your who’s who in Iran.
http://www.newsweek.com/id/199145
Borrowers need to understand their alternatives for when the appraisal comes in low. If they are scraping by to come up with the down payment and the closing costs then they ought to walk away because its likely that they’ll need to cough up more money for when the low appraisal comes in…or renegotiate the price. Sellers need to be realistic about this too.
This is why you need a lawyer to write you an air tight contract.
http://globaleconomicanalysis.blogspot.com/2009/06/mortgage-market-remains-solidly-frozen.html
Mortgage Market Remains Solidly Frozen
One problem is lenders are requiring applicants to put up $500 for appraisals and if the amounts do not come in, even if they miss by a tiny bit, the deal is denied and the applicant is out $500. Jeff had a $1.2 million sale stall because an appraisal was $20K short.
A couple years back lenders were letting anything slide, now they appear to be looking for excuses to kill any deal, especially with the recent spike in rates. If the appraisal and paperwork is not perfect, goodbye loan and goodbye $500 appraisal fee. Customers are not too happy to say the least.
Yields on Fannie Mae and Freddie Mac mortgage securities rose, setting a new high since the Federal Reserve announced plans to buy the bonds to drive down interest rates on new home loans and further thwarting the effort.
U.S. mortgage applications fell last week to the lowest level since February as a jump in borrowing costs discouraged refinancing and signaled that Fed Chairman Ben S. Bernanke’s bid to cap rates is stalling, according to Mortgage Bankers Association data released today.
The Fed initially said on Nov. 25 that it would buy as much as $500 billion of mortgage securities, before announcing in March that it would expand the program to as much as $1.25 trillion, as well as buy $300 billion of Treasuries.
Tick Motherfucking Tock Retards……
The What
Someday this war is gonna end….
who is buying all of the 30 yr T-bills today? the pension fds?
DIBS is right re the oil / dollar inverse correlation. In recent weeks, and in general over the past 18 months, it has been very tight.
Rising $, falling commodities and rising treasuries sounds bearish for equities though, DIBS. Reversal of the inflation / recovery trade that has driven the equity market up.
We are also approachin a floor for the dollar. If the dollar starts to strengthen again then oil prices will drop and so will Treasury rates.
The S&P is at a seven month high. Need I remind you all that it is the best of the leading indicators.
I’m not sure if you’ll be able to open this but its a great discussion about how the larger the sample, the better the predictive power, which is somewhat obvious but this is a great article….
http://tinyurl.com/l3fk7x
The ‘supreme leader’ is more powerful than the president in Iran, and is unelected. Can’t remember what the current guy is called, but he is a religious leader (think he has to be for this role).
Previous president (Khatami) was a reformer but was prevented from going very far.