teapartyeconomist.com / The Associated Press / January 26, 2015
Uncle Sam wants to make it more affordable for Americans to buy their first home.
The recent policy changes affect government-backed home loans and could make it less costly for first-time buyers to come up with a down payment or to afford private mortgage insurance.
davidstockmanscontracorner.com / by Michael Pento • January 19, 2015
On January 7th CNBC’s Rick Santelli and Steve Leisman engaged in a heated debate that posed an interesting question; is the free market at work keeping interest rates low, or is it the central banks’ put? This made me consider the real question to ask which […]
wallstreetexaminer.com / by Anthony B. Sanders, Courtesy of Confounded Interest • January 18, 2015
On Tuesday evening at 9pm EST, President Obama will give his annual State of the Union address. Here is what President Obama likely WON’T say in the address.
Let me begin with quarterly mortgage originations at the top 4 banks: Bank […]
armstrongeconomics.com / by Martin Armstrong / January 15, 2015
During the 1980s, Australians were hit hard as banks had sold them mortgages in Swiss francs to save them on interest rates. The next shoe to fall is the Swiss Franc Mortgage Panic that will be part of 2015.75. Countless homeowners outside of Switzerland […]
doctorhousingbubble.com / Dr. Housing Bubble / January 14th, 2015
How often can you go back to the low rate well? That seems to be the question at least when it comes to low interest rates. I heard an analyst say that the bulk of low hanging fruit already refinanced so small basis point moves are […]
wallstreetexaminer.com / by Anthony B. Sanders, Courtesy of Confounded Interest • January 14, 2015
Wells Fargo announced their Q4 earnings this morning. Their net income declined slightly in Q4 2014.
Commercial lending in Q4 skyrocket and mortgage originations remained flat…
zerohedge.com / by Tyler Durden on 01/14/2015 11:42
While earlier today the MBA came out with some absolutely ridiculous numbers namely that there was a 49.1% surge in mortgage applications in the week ended January 9, this was, as Stone McCarthy reported, due largely to seasonals. To wit: “The MBA’s broad mortgage application index […]
wolfstreet.com / by Wolf Richter • January 14, 2015
KB Home, one of the largest homebuilders, reported earnings on Tuesday. It was all hunky-dory. Shares rose 3.6% in premarket trading. But then, at 11:30 AM ET came the conference call. And what these folks said about the housing market wrecked KBH. The carnage spread […]
zerohedge.com / by Tyler Durden / 01/13/2015 09:58
A little over a year ago, Ocwen was the darling of hedge funds everywhere, with such luminaries as Steve Eisman pitching it at the Ira Sohn 2013 idea conference. Since then things went downhill and fast for the mortgage servicer, which after being branded “the “Next […]
davidstockmanscontracorner.com / by David Stockman / January 9, 2015
Yesterday’s WSJ article on rising auto loan delinquencies had a familiar ring. It focused on sub-prime borrowers who were missing payments within a few months of the vehicle purchase. Needless to say, that’s exactly the manner in which early signs of the subprime mortgage crisis […]
investmentresearchdynamics.com / By Dave Kranzler / January 9, 2015
Obama presented his plan for the FHA to reduce the down payment requirement for an FHA loan to 3.0%. Big deal. The FHA has been offering 3.5% down payment loans for quite some time now. In fact, since 2008 FHA has been underwriting low credit […]
wallstreetexaminer.com/ by Anthony B. Sanders, courtesy of Confounded Interest • January 7, 2015
Talk about Fed Futility! Mortgage applications continue to remain depressed despite the massive, unprecedented intrusion in financial markets by the US Federal Reserve.
Mortgage applications increased 11.1 percent from the previous week, according to data from the Mortgage Bankers Association’s (MBA) Weekly […]
acting-man.com / Bill Bonner / January 6, 2015
Running on Plastic
America does not run on cash. It runs on credit. In theory, America’s line of credit is unlimited. But in practice… it can get complicated, fast. The US is the first and largest economy ever to function on credit.
Americans have 3.75 credit cards […]
wallstreetexaminer.com / by William Black, courtesy of New Economic Perspectives • January 5, 2015
George Akerlof and Paul Romer’s famous 1993 article “Looting: The Economic Underworld of Bankruptcy for Profit” introduced what criminologists call “accounting control fraud” to the economics literature. The people who control the firm (typically the CEOs) use its seeming legitimacy as […]
trueeconomics.blogspot.com / by Dr. Constantin Gurdgiev / January 4, 2015
Two papers on related topics, the link between enterprise formation and homeownership/mortgages. In the past, I wrote quite a bit about various studies covering these, especially within the context of negative equity impact of reducing entrepreneurship and funding for start ups.
In the first […]
charleshughsmith.blogspot.com / By CHARLES HUGH SMITH / DECEMBER 30, 2014
No one can answer that question for anyone else, but it seems prudent to ask the question in the context of an Echo Bubble in valuations that appears to be deflating.
Readers often ask me if now is a good time to buy a […]
zerohedge.com / by Tyler Durden on 12/26/2014 19:55
The car is at the center of the biggest boom in subprime lending since the mortgage crisis, and The NY Times reports, similar to how a red-hot mortgage market once coaxed millions of borrowers into recklessly tapping the equity in their homes, the new boom is also […]
market-ticker.org / by Karl Denninger in Housing / Dec 24, 2014
This jackass might be one of those who should have gone to prison….. but didn’t.
Now she wants to******you again — financially, of course. I hope you have the good sense not to fall for it a second time.
In 2015, those who […]
zerohedge.com / by Tyler Durden on 12/24/2014 15:30
If there is one thing the investing public has ‘learned’ in the last few years, it is ‘no matter how bad the fundamentals, if it’s been working, buy moar of it’. And so, it is with almost certain confidence that we should expect a resurgent flood […]
wallstreetexaminer.com / by Logan Mohtashami / December 22, 2014
This is a syndicated repost courtesy of Logan Mohtashami. To view original,click here.
2014 was not a great year for the housing market. Higher inventories in many areas and low mortgage interest rates lead to lofty promises of booming mortgage purchase applications and “nirvana” for new […]