Heck on Earth, July 22, 2007
Apparently, a day of doom is scheduled for July 22, 2007 (next Sunday). The cause: non-traditional loans. Here’s the details (simplified as best I can): According to Lou Barnes, mortgage loan broker and syndicated columnist, last year, “the Federal Reserve...Mortgage loan rates go up as home prices stagnant and/or go down
A quick comparison for those of you thinking about buying today versus next year. Today: Buy a $500,000 home with a $450,000 mortgage loan (at 6.25% fixed-rate): $2,770 per month Next year: Buy the same home for $450,000 (you WISH – and hope) with a $400,000...Yay … boo.
Yay: The economy grew by a better-than-expected 132,000 jobs in June, and the job creation numbers for April and May were revised upward by a total of 75,000. Boo: By exceeding expectations, the job-creation numbers boosted bond yields this morning, and mortgage rates...Kiplinger forecast: slow real estate market until 2008, at least
So, Kiplinger reporter Jerome Idaszak is out with a new article about the state of the real estate market. Based on his analysis, he has concluded that the national real estate market will remain stagnant during the rest of the year, with a moderate improvement in...Federal regulators propose new subprime lending guidelines
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