Larry Iest's (larryi) Blog

Here is the Mortgage Market Update for the week of October 1, 2007 brought to you by Larry Iest of Hemet Mortgage.LAST WEEKLast week mortgage rates moved throughout the week but ended just about where they started. The biggest economic release was Fridays PCE report. This is the Des favorite meas...

Here is the Mortgage Market Update for the week of September 24, 2007 brought to you by Larry Iest of Hemet Mortgage.LAST WEEKLast weeks big news was the Federal Reserve Meeting (FOMC) and the policy statement that always follows.  The Fed announced a rate cut of a half point to the Fed Funds Rat...

Here is the Mortgage Market Update for the week of September 17, 2007 brought to you by Larry Iest of Hemet Mortgage.LAST WEEKLast weeks limited economic news was bond friendly overall but bond traders saw it as an opportunity to sell of their positions and take some profits. When this happens it...

FHA Secure: The "President Bush" LoanPresident Bush addressed the Nation on Friday, August 31 over the growing concerns in the housing market. He did not purpose a total bail out of the mortgage industry but he did offer some relief to homeowners. This relief is target to homeowners who have a mo...

Here is the Mortgage Market Update for the week of September 10, 2007 brought to you by Larry Iest of Hemet Mortgage.LAST WEEKLast week the big report of the week was the employment report released Friday. Economist were expecting between 100,000 and 110,000 jobs created in the month of August. T...

Here is the Mortgage Market Update for the week of September 4, 2007 brought to you by Larry Iest of Hemet Mortgage.LAST WEEKLast week the big report of the week was The Personal Consumption Expenditure Index (PCE). This is the Fed's favorite gauge on inflation. This report coupled with the emplo...

Here is the Mortgage Market Update for the week of August 27, 2007 brought to you by Larry Iest of Hemet Mortgage.LAST WEEKThe Federal Reserve helped calm the markets with their first major reaction to the liquidity crisis. The Fed lowered their "Discount Rate" and extended the widow for overnigh...

Current State of Mortgage LendingThis is to clarify the current volatility being experienced by the mortgage industry? This is a historic time in the mortgage industry. I have spoken with several mortgage industry veterans that say they have never seen anything like we are experiencing today.Here...

Now on to the news regarding the mortgage industry and the "Liquidity Crisis" that has been reported in the media. What does all of this mean? When a lender funds a loan they group many loans together and sell them to investors on the secondary market.  Since the housing market has slowed and del...

Here is the Mortgage Market Update for the week of August 6, 2007 brought to you by Larry Iest of Hemet Mortgage.LAST WEEKLast weeks economic calendar was full of important economic reports. We saw tame information come in regarding inflation and employment the reports that the Fed looks at very ...