Read Our Lips: President Bush Announces FHA Secure
Three weeks ago we pointed out President Bush’s careful choice of words when he spoke out against federal bailouts for struggling homeowners (“If you mean direct grants to homeowners, the…
JustQuotes: New Home Sales – A Real Recovery Or A Red Herring?
“U.S. stocks rose after new home sales and durable goods orders topped economists’ forecasts in July, spurring speculation the economy can weather losses in credit markets.” “We don’t see a…
JustQuotes: Why Listen To This Guy About The Housing Market?
“Countrywide Financial Corp. Chief Executive Angelo Mozilo said Thursday the housing market is showing no signs of improvement and could lead the U.S. into a recession.” (Countrywide CEO: economic outlook…
A Few Points From A Local Mortgage Banker (No, Not “Blogger”)
Julian Hebron, mortgage banker and branch manager for the San Rafael office of Residential Pacific Mortgage, submits a copy of his most recent MarketWeek report (“Ride The Storm“) for review.…
JustQuotes: Higher Rates For the Vast Majority Of San Franciscans
“Some lawmakers are calling on Congress to stimulate the moribund jumbo-loan market by letting Fannie Mae and Freddie Mac purchase substantially larger loans on homes in high-cost metro areas.” “As…
JustQuotes: Acknowledging “Downside Risks” To The Economy
“Stocks soared Friday, propelling the Dow Jones industrials up more than 180 points, after the Federal Reserve, acknowledging that the stock market’s plunge posed a threat to the economy, slashed…
Housing And Credit Concerns Abound (Here And Abroad)
While credit concerns once again rocked the equities market (“All the things that had been denied up until this point are unraveling. On top of this, retail sales were mediocre,…
JustQuotes: No No-Doc? No Kidding (And Hopefully No Surprise)
“Kurt Herrenbruck, a mortgage planner with Fishman Financial Group in Berkeley, saw one client’s financing evaporate in the space of three days last week. “The client is well-heeled, with (a…
JustQuotes: NAR’s Monthly Moving Target (August Edition)
“The National Association of Realtors trimmed its sales forecast for the sixth straight month but pared back its predicted drop in existing home values. Existing-home sales should hit a pace…
JustQuotes: From Credit Crisis To Credit Squeeze To Credit Crunch?
What had seemed like a contained problem, involving home loans to people with poor credit, has suddenly mushroomed into a rout that threatens to make life difficult for everyone who…