What’s Ahead For Colorado Mortgage Rates This Week : September 21, 2009

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Posted on in Mortgage Rates

What’s Ahead For Colorado Mortgage Rates This Week : September 21, 2009

After improving in the two prior weeks, mortgage markets finished last week unchanged overall.  Mortgage rates were down early in the week but managed to give up all of their gains late-Friday afternoon.  It’s the same volatility variety we’ve seen in most weeks this year.  Markets moved on to both positive- and negative-type news last week.  On the positive side: Fed Chairman Ben Bernanke said the recession is “very likely over“ Retail Sales were much stronger than expected Warren Buffett confirmed to CNBC that he was back in the market On the negative side, Housing Starts idled and corporate earnings fell flat. This week, the market moves on.  Investors will watch several key releases including Existing Home Sales on Thursday, and Consumer Sentiment and New Homes Sales on Friday.  The most important event of the week by far, however, is the scheduled, 2-day meeting of the Federal Open Market Committee.  The FOMC is the policy-setting group of the Federal Reserve and each […]

by jberman
Posted on in General

Weekly Twitter Digest for 2009-09-20

Recession's end won't calm troubled waters – Denver Post – Recession's end won't calm troubled watersDenver… http://ow.ly/15Pfsj # [Fraud] FBI mortgage fraud probes grow to 2,600 cases. http://budurl.com/dycx (Cleaning up the industry) # Survey says commercial real estate facing difficult market ahead – Northern Colorado Business Report http://ow.ly/15PlkD # Investigated loan originators sue Colorado real-estate regulators – Bizjournals.com http://ow.ly/15PpEl # Homeless in Colorado metro area up to 11061 – Denver Post – Homeless in Colorado metro area up to 11061Denver PostT… http://ow.ly/15PrOM # Former county employee to pay restitution – Mohave Valley News http://ow.ly/15Pstw # Colorado mortgage interest at 4.97%; low rates spurring refinancing – Bizjournals.com http://ow.ly/15Pv7q # What is ACORN, anyway? – Examiner.com – What is ACORN, anyway?Examiner.comACORN members across the country work to … http://ow.ly/15Pwdy # Summit County Parade of Homes this weekend & next. http://budurl.com/j9sd #scre (via @PaulaBParker) # [Mac] How to set up 'Remember The Milk' as a standalone desktop app using Fluid. http://budurl.com/nen7 (my 1st […]

by jberman
Posted on in General

Weekly Twitter Digest for 2009-09-20

Recession's end won't calm troubled waters – Denver Post – Recession's end won't calm troubled watersDenver… http://ow.ly/15Pfsj # [Fraud] FBI mortgage fraud probes grow to 2,600 cases. http://budurl.com/dycx (Cleaning up the industry) # Survey says commercial real estate facing difficult market ahead – Northern Colorado Business Report http://ow.ly/15PlkD # Investigated loan originators sue Colorado real-estate regulators – Bizjournals.com http://ow.ly/15PpEl # Homeless in Colorado metro area up to 11061 – Denver Post – Homeless in Colorado metro area up to 11061Denver PostT… http://ow.ly/15PrOM # Former county employee to pay restitution – Mohave Valley News http://ow.ly/15Pstw # Colorado mortgage interest at 4.97%; low rates spurring refinancing – Bizjournals.com http://ow.ly/15Pv7q # What is ACORN, anyway? – Examiner.com – What is ACORN, anyway?Examiner.comACORN members across the country work to … http://ow.ly/15Pwdy # Summit County Parade of Homes this weekend & next. http://budurl.com/j9sd #scre (via @PaulaBParker) # [Mac] How to set up 'Remember The Milk' as a standalone desktop app using Fluid. http://budurl.com/nen7 (my 1st […]

by jberman
Posted on in Mortgage Regulation

The HVCC Virus Spreads to FHA

Our good friends at IMMAAG reported today that FHA has enacted a similar appraisal management process to the much maligned & ill-conceived HVCC regulation that has added layers of complexity and cost to conventional (FNMA, FHLMC) mortgage financing. Excerpts from IMMAAG’s most recent alert: It is no secret that IMMAAG has opposed HVCC since the first time we had a chance to read the agreement and the code. We continue to share the belief with thousands of others who now know – HVCC was a poorly conceived, misdirected, inappropriate response to circumstances that were not the result of the causes identified by the New York Attorney General. For months, IMMAAG has joined others in the industry in advocating grass roots action to tell Congress about the real problems caused by this policy. We have been suggesting to everyone with whom we communicate to ask their congressional representatives to co-sponsor H.R. 3044, the moratorium bill. During all of this, there have […]

by jberman
Posted on in Housing Market

Housing Starts Slip, But Don’t Think The Recovery’s Been Halted

Housing Starts on single-family homes took a step backwards last month, falling month-over-month for the first time since January. A “housing start” is new home on which construction has started. Don’t let the slowdown fool you, however — the housing market’s recovery is still very much underway. Sales volume is up in most cities Home values are up in most places Low mortgage rates are making homes affordable Builders were bound to take a construction breather sometime — especially with the looming expiration of the First Time Home Buyer Tax Credit.  The last thing they want is to be saddled with excess supply. Some of the news coverage categorized August’s Housing Starts as troubling.  That’s likely overstating it.  One down month after 8 consecutive increases is not only acceptable, but it’s expected, too.  Single-family starts are up 34 percent on the year.  The housing market is recovering just fine.

by jberman
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