Daily Market Report September 10
- Length: 2:25
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- Author: MikesDailyMarketRpt
The Stock Market was rallying earlier in the morning and has since pulled back a bit. The Wholesale Inventories hit a 2 year high, but didn't seem to create a big impact, as the size of the increase in inventories outpaced higher sales by distributors. China's imports were higher than forecasts, which leads to speculation that the Chinese Government may take additional steps to slowdown it's economy. The Bond Market has taken it's toll this week and today is no different. It started about 15 bps lower than yesterday's close and went an additional 15 bps (touching the bottom of the Trading Range), but has turned upward and is currently up 3 bps. We may see some improvement in Mortgage Rates today, after seeing them Rise this morning. If you look at the Candlesticks, then you will notice a lot of gaps. We may see that close sometime in the near future. Next week is full of economic news releases (like CPI, PPI, Philly Fed, Empire Index, Retail Sales). So, we'll see a lot more activity next week. We didn't have a lot of trading this week, which is one of the reasons we saw a lot of volatility in the Market. Next week should be better.
mortgage Loan jobs sun Loan jobs commerciaL Loan jobs
- Length: 6:48
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- Author: Endeavor542454
One of the side effects of the subprime mortgage cycle we just went through is that many very solid loan programs went unnoticed and unused because there were "easier" options out there. Now with the disappearance of said subprime loans these "old faithful" loan programs are coming back. One of the best ones to resurface in recent weeks is the Rural Development Loan. The loan was designed to entice home buyers to move into rural, undeveloped areas to buy a new home. They created a government backed loan (meaning the bank is not taking the risk) that is truly zero down and does not have private mortgage insurance (PMI) on it. The rates are very comparable to FHA or conventional rates (6.5%) at the time I am writing this. You will be able to afford about $30000 more in house for the same payment simply due to the fact that there is no PMI. Did you catch the part of about zero down; it is not a typo this loan requires zero down to get into it. So you may be saying it is too good to be true, and asking what is the catch. Well I would be lying if I said that you were wrong about that. But the catches really aren't that bad. There is an income limit to how much you can make to get a loan like this. It will depend on the size of your family and if you pay child support or not, but for example a family of four in King County is capped at $88400 so it is not too restrictive. The biggest restriction is you have to purchase in areas that the classifies as rural. Now I know what you ...
Government mortgage modification program may be improving
- Length: 2:40
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- Author: ABCActionNews
Troubled homeowners all over the country have voiced complaints about the government's mortgage modification program. Some say the banks are making progress in the way they process these applications.
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