The yield curve, or difference between short term interest rates compared to long term rates have tightened. This is due to the long term interest rates (10yr/30yr notes) staying fairly stable over the past 6 months, but the short term rates (1yr/2yr notes) have gone up. The increase in short term ... » Learn More about Yield Curve Drops Making ARMs More Expensive Relative to Fixed Mortgage
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“The Big Short”, the Housing Bubble and Subsequent Mortgage Meltdown Explained
The critically acclaimed book/movie “The Big Short” is entertaining and gives some detail on the events and issues surrounding Wall Street’s hand in the 2008 Financial Crisis. Hear a more detailed analysis on what transpired, and the role all the players, above and beyond Wall Street, had in ... » Learn More about “The Big Short”, the Housing Bubble and Subsequent Mortgage Meltdown Explained
Good and Bad News for Short Sales and Loan Modifications
The appropriations bill, which is a $600 billion bipartisan spending bill signed off by the President last week includes a provision allowing homeowners to exclude forgiven mortgage debt (the remaining mortgage loan balance when a borrower’s principal residence is sold in a “short sale” to avoid ... » Learn More about Good and Bad News for Short Sales and Loan Modifications
New Case Shiller 20 City vs Los Angeles Index Data
The Case-Shiller 20 City Index for October increased 5.5% year-over-year in October, just beating the consensus forecast for 5.4% Growth. The index also climbed 5.1% year=over-year for September. The Los Angeles index climbed 6.15% year-over-year, beating the 20 city levels. Annualized Los ... » Learn More about New Case Shiller 20 City vs Los Angeles Index Data
Interesting Numbers to Digest
Some interesting numbers to make you go ummm... 1) Impact on the Economy - The building of an average single family home creates the equivalent of 2.97 jobs for a full year. The building of an average rental apartment creates the equivalent of 1.13 jobs for a full year (source: National ... » Learn More about Interesting Numbers to Digest