Readers, I’ve actually been waiting for this moment to come. Well before I was a mortgage originator, I secured my first equity line against my primary residence. I wanted to know everything about these things called equity lines, so I read every piece of paper the bank gave me. In so doing, I came across […]
Read full post...It’s been a terrible year in the housing and credit markets, but fear not, says John Thain, CEO of Merrill Lynch. The end is near. On CNBC this morning, he says the U.S. credit crisis is easing and the risk in its housing market is dramatically lower now, but economic growth will remain under pressure […]
Read full post...Everyone,
Here is a great article on CNBC’s home page right now. They actually got it right, in the sense that 30-year fixed mortgages benefit little, and in fact tend to worsen, during the FOMC’s tightening cycle. We’ve dropped 300 basis points now in the Fed Funds rate, but the 30-year fixed mortgage has actually trended […]
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