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Mr Mortgage
34 Comments
Promising Regional Banks For Patient Investors - Barron's
U.S. Smallcap in Demand
U.S. Smallcap in Demand
when the funding really dries up over the next few MONTHS.
U.S. Smallcap in Demand
Private Equity to the Rescue of Banks?
Today's Negative-Equity Update
This is because Zillow uses original purchase price to compute the negative equity despite larger percentages having refi'd after the fact or added a second mortgage. The problem is much larger than depicted here.
Housing Crisis Likely to Wipe Out Two Decades of Family-Earned Wealth
Assured Guaranty: Vulnerable to Continued Bond Market Troubles
Why I am Selling Thornburg Mortgage
Ambac, MBIA Finally Get the Rating They Deserve
Ten Comments on Housing
Homebuilding on an Uptrend?
2- New Home Sales reported at the time of contract signing and with rates up sharply over the past month or so, and jumbo money over 8%, you will have a much higher fall out rate.
3- Fannie/Freddie jumbos will not help people to refi out of bad loans. It ill only help someone with a large downpayment who makes alot of money buy a home. That person did not need help in the first place. Plus, AGency jumbo loans will be priced much higher than standard conforming.
4- OFHEO news will not do much. They won't spend it all at once and they will look to buy distressed AAA closed loan assets to dilute the bad stuff happening with their portfolios.
5- Mortgage rates should not decrease...we have an inflation problem. Every move the Fed has made since last year when they began has spiked weakened the dollar and spiked mortgage rates. Why would that change. In a perfect world, as rate cuts stimulate economy, Bond yields/mortgage rate rise.
Go back to the drawing board on your thesis. You are dead wrong.
Homebuilding on an Uptrend?
Now, with only 30-yr fixed, 15-yr fixed and selective 5/1 product, the same $1 million home requires 20 cash down and a household income of $150 - $175k. Inventories are up 500+%.
Essentially, we have 95% fewer buyers to buy 5x the number of homes for sale. And that does not include REO inventory. Remember, only 3-5% of homes sell to a 3rd party in foreclosure. The banks buy the rest back and add them to REO.
Stock Valuations On the Rise
The "Ben is My Friend" Trade