Citigroup may write down $24,000,000,000!
January 14, 2008
CNBC is reporting that Citgroup could write down as much as $24 Billion in losses and up to 24,000 employees Read more
grauteam | mortgage update 1.14.2008
January 14, 2008
Citigroup may have to write off another $24 Billion in sub-prime related losses! This could put 20,000 jobs in jeopardy. That kind of news causes investors to lose confidence in stocks and could actually be a good thing for bonds. Read more
MHDC January 2008 Bond Issue
January 11, 2008
The Missouri Housing Development Commission is going to release a new bond issue for January 2008. The last bond issue was 6.04% without cash assistance and 6.49% with a 3% cash grant with no repayment. Cornerstone Mortgage is one of the Top 10 MHDC approved lenders! Read more
Rate Watch Update and $100 give-a-way
January 11, 2008
I hold a $100 a month give-a-way to anyone that completes and returns their “Rate Watch Update.” The odds of winning are pretty good!
grauteam | mortgage update 1.7.2008
January 7, 2008
Today continued the FNMA 30 Year Mortgage bonds rally. The last 7 sessions have closed positive for mortgage bonds. Rates are knocking on the door of 5.625%. Read more
grauteam | mortgage update 1.02.2008
January 6, 2008
Rates are going to start out excellent in 2008. This morning the Supply Management Index Report for December was 47.7; the lowest in 2007. This means there was significant contraction in the manufacturing sector. Read more
grauteam | mortgage update 12.27.2007
January 6, 2008
This has been a pretty light week for economic reports. Bonds have been taking their direction from Stocks. The Case-Shiller Price Index for October showed a 6.1% decline in home prices. Read more
grauteam | mortgage update 12.17.2007
January 6, 2008
Rates have risen back to a 5 week high. Expect more volatility since the Fed is caught between fighting inflation and preventing a recession. Friday’s Personal Consumption Expenditure [ PCE ] Report confirms if inflation remains under to 2% and could be the deciding factor on future rate cuts. Read more
grauteam | mortgage update 12.10.2007
January 6, 2008
We have had another extremely volatile week for Mortgage Rates and it has continued today. Tomorrow the FED meets to decide policy on the Fed Funds Rate. We are banking on a .50bp rate cut. Read more
grauteam | mortgage update 12.03.2007
January 6, 2008
Rates have not been this good in 26 months ! Friday’s jobs report will be the deciding factor on how much the Fed Cuts its rate December 11 th . Read more
