Entries Tagged as 'credit crunch'
March 28th, 2008 · Comments Off
Mortgage rates rose slightly this week, the lowest-fee 30-year from just below 6 percent to a hair above. Spreads still gape versus Treasurys, at 2.5 percent above the 10-year defying all of the Fed’s latest efforts. Five-year ARMs, both conforming and jumbo, are better in availability and rate, but both are scarcer and higher than in January.
The economy itself is in a curious place. This morning’s report of a half-percent gain in February personal income was head-scratching good news, not squaring with consumer confidence measures at 16-year lows, some components at 41-year all-time lows. more…
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Tags: Industry News · Inman Real Estate · Markets & Economy · credit crunch · economy · federal reserve · lending · lou barnes · mortgage · s&l crisis · treasury
March 21st, 2008 · Comments Off
Some progress this week by the authorities has helped mortgage rates fall to the 5.75 percent area for the first time since January. However, the improvement is limited to vanilla "agency" loans, the jumbo and even agency ARM markets still broken. The credit crunch is still alive, growing tighter, and the financial system is unstable. more…
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Tags: Industry News · Inman Real Estate · Mortgages · bear stearns · bernanke · credit crunch · economy · lou barnes · mortgage rates
