In-Depth look – Home Prices To Continue Decline – Bloomberg

Interview and discussion with Robert Shiller of the Yale University. He gives his thoughts on the housing market that shows weakness. (Bloomberg News)

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June 9, 2009. Tags: , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Politics, Uncategorized, Unemployment Statistics, Wall St. Comments off.

Bond Vigilantes Ride Again – CNBC.com

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The 30 yr mortgage rate is rising above 5% again..Rickster lays down the case that quantitative easing is only effective very short term…

How about we make some use of Fannie and Freddie now that we own them and all, and have 3% mortgages bought by FAN/FRED…..HOLC HOLC Baby….

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May 28, 2009. Tags: , , , , , , , , , , , . Economy, Finance. Comments off.

Updated: Housing Update: More Details Released…

UPDATE: Treasury increases commitment to Fannie and Freddie from $200b to $400b, now they each get 200 billion..

Obama Housing plan will establish a 10 billion insurance fund to ‘discourage foreclosure’

Treasury will establish uniform guidance for mortgage modifications…all future recipients of TARP money REQUIRED to implement loan modification plan

CNBC Steve Liesman breaking it now…

According to Treasury plan includes: Plan to help 4-5 million homeowners refinancing plan

ADDITIONAL PLAN THIS IS NEW!!: Treasury to help fund principal writedowns?? need details there..more than expected

75 billion  homeowner stability initiative to reach an additional 3-4 million at risk homeowners supporting low interest rates by increasing confidence in Fannie and Freddie…

Homeowner Stability Initiative aimed at those who ‘commit to making reasonable monthly mortgage payments’..

Obama plan promises, “no aid for speculators”..

Aimed to help households ‘at risk’ who are current in payments..

Many incentives built into the plan for servicers and lenders to get on board says Steve…

Lenders under Homeowner Stability Initiative will bring down payments to 38% of borrowers income TOLD YA!! That is Sheila Bair’s plan right there…THEN the government would match further reductions down to 31% of the borrowers income…

a low interest rate must be in place for 5 year after which it can gradually be raised to market rates, UH OH THAT IS A TEASER NO NO NO!!!! WTH do they want more ARMS this will lead to waves later, oh good gawd!!!

Treasury will share in the cost of reducing principal on mortgage, need details there!!

Incentives:  Servicers receive $1000.00 upfront fee for each modification and success fees for keeping borrowers current, 1k a year for 3 years.

additional fees for servicers who get mortages modified before default….

February 18, 2009. Tags: , , , , , , , , , , , , , , , , . Economy, FDIC, Finance, Foreclosures, Housing, Obama Administration, Politics, TARP, Uncategorized, Unemployment Statistics, Wall St. 1 comment.

PIMCO’s Gross: Mortgage rates will hit 4.5%…

VIDEO here, well worth watching

WooHoo to that news, (right now the 10 yr has moved up over 3% again) from CNBC:

Government action to shore up the economy and improve the housing climate probably will send mortgage rates to 4.5 percent, Bill Gross, co-CEO at the Pimco bond fund, said Monday.

-snip-

“I think at some point we’re going to see a 4.5 percent mortgage rate and the 10-year Treasury rate capped at some level,” he said. “When the Fed comes in to buy Treasurys that will be a big day.”

Looking ahead at the government initiatives he expects to see in an announcement Tuesday, Gross said the government likely will inject more capital into needy banks only. He also said the government will expand the Term Asset-Backed Securities Loan Facility, or TALF, which aims to free up the ABS market….

“We need a clear plan tomorrow that moves away from nationalization, and private capital will come in,” Gross said….

February 9, 2009. Tags: , , , , , , , . CITI, Economy, FDIC, Finance, Foreclosures, Housing, Labor Department, Obama Administration, Politics, TARP, Unemployment Statistics, Wall St. 1 comment.

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