There are many factors in determining the spread between the Ten Year Treasury yield and the 30 year mortgage rates (like the supply of new MBS) - but this graph suggests that mortgage rates will rise 35 to 50 bps relative to the Ten Year when the Fed stops buying agency MBS at the end of March.
From: http://ping.fm/cd3De
Thursday, February 25, 2010
The sky is not falling!
The real estate industry will NOT come to a shrieking halt after the government exits the market this spring. Five million homes will sell this year. That means there will be ten million commissions earned this year. Just make sure you earn your [UNFAIR] share. Your attitude and commitment will determine your success this year - nothing else. ~ Steve Harney
Wednesday, February 24, 2010
New Home Sales fall to Record Low in January
The Census Bureau reports New Home Sales in January were at a seasonally adjusted annual rate (SAAR) of 309 thousand. This is a record low and a sharp decrease from the revised rate of 348 thousand in December.
From: http://ping.fm/4i6gG
From: http://ping.fm/4i6gG
Tuesday, February 23, 2010
Q4 Report: 11.3 Million U.S. Properties with Negative Equity
First American CoreLogic reported today that more than 11.3 million, or 24 percent, of all residential properties with mortgages, were in negative equity at the end of the fourth quarter of 2009, up from 10.7 million and 23 percent at the end of the third quarter of 2009. An additional 2.3 million mortgages were approaching negative equity at the end of last year, meaning they had less than five percent equity. Together, negative equity and near‐negative equity mortgages accounted for nearly 29 percent of all residential properties with a mortgage nationwide.
From: http://ping.fm/TPD4x
From: http://ping.fm/TPD4x
Monday, February 22, 2010
Short Sales Increase in January
Expect 2010 to be the year of the "short sale" and the percentage of short sales will increase further after the servicers implement the Treasury's HAFA program .
From: http://ping.fm/yPobn
From: http://ping.fm/yPobn
Friday, February 19, 2010
Record 4.5 million homes seriously delinquent or in foreclosure
Look out - Here is more evidence of the looming shadow inventory about to hit the market. 4.5 million potential units!
From: http://ping.fm/Vbk6k
From: http://ping.fm/Vbk6k
Thursday, February 18, 2010
The Treasury's HAFA program will probably increase short sale activity significantly. http://ping.fm/79Os4
Wednesday, February 17, 2010
Tuesday, February 16, 2010
Monday, February 15, 2010
Sunday, February 14, 2010
Quit living as if the purpose of life is to arrive safely at death. Set God-sized goals. Pursue God-ordained passions. Go after a dream that is destined to fail without divine intervention. Keep asking questions. Keep making mistakes. Keep seeking God. Stop pointing out problems and become part of the solution. Stop repeating the past and start creating the future. Stop playing it safe and start taking risks. Expand your horizons. Accumulate experiences. Consider the lilies. Enjoy the journey. Find every excuse you can to celebrate everything you can. Live like today is the first day and last day of your life. Don’t let what’s wrong with you keep you from worshipping what’s right with God. Burn sinful bridges. Blaze a new trail. Criticize by creating. Worry less about what people think and more about what God thinks. Don’t try to be who you’re not. Be yourself. Laugh at yourself. Quit holding out. Quit holding back. Quit running away. Chase the lion!
Wednesday, February 10, 2010
White House Dropped 5% in Value in 2009 http://www.dsnews.com/articles/index/white-house-dropped-5-in-value-2009-2010-02-09
Thursday, February 4, 2010
Mortgage Delinquency Rate Surpasses 10%: LPS http://www.dsnews.com/articles/index/mortgage-delinquency-rate-surpasses-10-lps-2010-02-04
Wednesday, February 3, 2010
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