Archive for the ‘Freddie Mac’ tag
Alan Greenspan Sees Housing Prices Sort of Hitting Bottom in mid-2009
Greenspan said that he expects housing prices to begin to
stabilize in the first half of 2009 although they could continue
to drift lower for quite some time thereafter, even after essentially
reaching bottom.
Greenspan, however, is not changing his long-standing belief that
Freddie Mac and Fannie Mae represent the root of all
evil…
Bankrate.com Mortgage Trend Index (August 14, 2008)
I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week’s survey is now available.
As a reminder:
- The survey is for conforming loans only.
- I welcome emails from readers about purchase or refinance plans.
- I twitter market updates a few times daily. Follow me.
Anyway, on to the group’s predictions for the next 30 days:
- 38% of participants predict rates will increase
- 31% of participants predict rates will decrease
- 31% of participants predict rates will remain unchanged
I am predicting that rates will increase over the next 30 days, but that doesn’t mean you should necessarily follow my advice when choosing whether to lock a rate, or float it. My advice may not be appropriate for your individual situation.
From the Bankrate.com survey:
"New loan fees from Fannie and Freddie wipe out market gains. The ‘middleman’ fee takes its toll."
Remember: Fannie Mae and Freddie Mac stand between conforming borrowers and Wall Street so if the two firms want to generate some extra income, all they have to do is implement loan-based fees.
There have been four separate increases since December 2007. We should expect more later this year.
Rates Remain Mostly Flat while Mortgage Applications Lag, Hitting Four Year Low
Mortgage interest rates remained flat during the week
ended August 7 according to the weekly Primary Mortgage Market Survey
released by Freddie Mac.
The Mortgage Bankers Association (MBA) in results from its
Weekly Mortgage Applications Survey reported…