A combination of weak job numbers, mixed economic indicators, and the potential Britain exit of the European Union (BREXIT), has put the Federal Reserve on hold to increase the Fed Funds Rate. Internationally some countries interest rates have gone negative. That means if you put money into a ... » Learn More about Interest Rates Drop – Fed On Hold (again)
Mortgage Rates Drop – Employment Numbers Stink
Interest rates dropped like a rock today. Right when the Federal Reserve was talking up a fed rate increase, the employment numbers came in way below the consensus. The 38,000 created jobs in May was forecast to be 162,000. More numbers to digest: The Labor Department also reported Friday that ... » Learn More about Mortgage Rates Drop – Employment Numbers Stink
Break Up The Big Banks – Political Rhetoric or Reality?
The general political rallying cry of "break up the big banks" is an obsolete statement, and as retired Democratic Congressman and Financial Services Committee Chairman Barney Frank put it on CNBC the other day, “they don’t know what they’re talking about”. Barney Frank was one of the architects ... » Learn More about Break Up The Big Banks – Political Rhetoric or Reality?
A Sample of Pending California Real Estate Legislation
As a Government Affairs Chair for the California Association of Mortgage Professionals I was recently in Sacramento advocating for the consumer of housing, discussing housing issues and pending legislation with our state Senators and Assembly Members. One thing of interest, our representatives in ... » Learn More about A Sample of Pending California Real Estate Legislation
Mortgage Interest Rate Update May 16 2016
The media is always a lagging index. When they announce that anything is at it's highest, or lowest, it's obsolete information. Today the media indicated that mortgage rates are at it's lowest in 3 years. Reality, the rates have been in a tight range for a few weeks. Today the rates actually ... » Learn More about Mortgage Interest Rate Update May 16 2016