ARCHIVED BLOG POSTS
2008
The Federal Reserve's Open market Committee announced Wednesday it was lowering the federal funds rate to 1%, it's lowest level since 2004. Yet mortgage rates rose on the news and continue to rise today. Though, on the surface, this may seem contradictory it exposes a symptom of the larger financ...
10/30/2008
As regional and national banks eagerly rush to accept government bailout loans in the face of frozen credit markets, local community banks are quickly becoming the go-to source for mortgage loans in Florida. Despite tighter underwriting guidelines from Freddie Mac and Fannie Mae and a secondary m...
10/28/2008
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Mortgage rates are easing this week as the yield on the ten year treasury note fell to 3.72% on Tuesday after climbing as high as 4.09% in the past week. The Mortgage Bankers Association of America reported that over the past four weeks, thirty year mortgage rates rose at their fastest pace in 17...
10/21/2008
We have heard plenty of arguments from the Bush administration and congressional officials as to the necessity of a massive bailout to remove "toxic" ( the new word for worthless) assets from the books of financial institutions to encourage them to start lending again. The frozen credit markets w...
10/01/2008