Pfizer announced that their Covid vaccine in trials was 90% effective at preventing infection. The stock market took off and traders began reshuffling their pandemic bets with Zoom down 20% and Disney, hotels, and cruise operators up substantially. Will there…
The Urban Institute think tank says nearly two out of three loans made in 2019 would fail to meet at least one of the stricter standards lenders have imposed since March. Banks are tripping over themselves to be the first…
If you have been tracking interest rates in the mortgage market, your head is likely spinning. Mortgage rates hit a record low of 3% less than a week later rates have risen again. What is causing the drastic swings? Is…
The mortgage market is an interesting animal. Long term mortgage rates traditionally track the 10 year treasury and historically trade in a very narrow band, approximately one percent higher than the 10 year treasuries. This would put mortgages today in…
From March 1 through the end of May, Americans deferred debt payments on more than 100 million accounts, according to credit-reporting firm TransUnion, a sign of widespread financial distress. Millions are out of work, yet house prices are increasing in…
The stock market has been pricing in a fast and rapid V-shaped recovery, yet 106 million people and various businesses like United Airlines are painting a radically different picture. As Alan Greenspan, the former fed chief, famously said: markets can…
Would you bet your life on interest rates? Life insurance companies are making a huge gamble on rates, they are willing to bet their life and yours on the direction of interest rates. Why are life insurance companies suspending new…
I hope everyone is doing well in light of the recent events. I was recently asked: “Did the Federal Reserve trigger a housing market crash?” What happened? The Coronavirus struck, the fed had to act swiftly to mitigate the damage,…
We are still lending as we fund and hold our loans in cash! If you have been watching the mortgage market, your head is likely spinning. Last week, a mortgage rates drop for 30-year fixed mortgages hit a record…
First, I wanted to give a hats off to this guy for taking social distancing to the next level. He hiked out about a mile on thin ice to ensure he was doing his part 🙂 Coronavirus has caused the…
