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Monday, September 08, 2008 9:26 AM

Fannie, Freddie and you

As expected, the US Treasury has seized control of Fannie Mae and Freddie Mac. The obvious question, what does that mean for you. Actions by the Treasury were meant to stabilize financial markets and ensure mortgage availability and affordability. Mark
Posted by Howard Arnoff | 2 Comments
Tuesday, July 22, 2008 1:09 PM

Sign of the L at Wachovia

The big W from Charlotte posted the big L today reporting a whopping record loss of $8.9 Billion, more than the bank ever earned in a year. Most of the problems and losses at Wachovia were attributed to the purchase of Golden West Financial two years
Posted by Howard Arnoff | 0 Comments
Thursday, January 17, 2008 10:28 AM

Good news, mortgage rates down, housing starts down

Good news for borrowers as mortgage rates continue down, I noticed the 30 year fixed quoted last week at 5.5% down to 5.375% this week. Courtesy of MarketWatch, here is what Freddie Mac said about rates . On the housing front, bad news is good news. MarketWatch
Posted by Howard Arnoff | 0 Comments
Friday, November 09, 2007 9:51 AM

The high cost of bad judgment

Bad lending, bad borrowing and bad judgment by everyone. Some lenders misled borrowers, some homeowners borrowed more than they could afford and financial institutions transformed mortgages into securities that were traded like baseball cards without
Posted by Howard Arnoff | 2 Comments
Thursday, October 25, 2007 2:12 PM

Will Countrywide go to the confessional tomorrow

Countrywide reports earnings (or likely a loss) tomorrow and the question is how forthcoming will they be and how will the markets react to Chairman and CEO Angelo Mozilo's comments. UBS prepared a report for The Wall Street Journal regarding Option
Posted by Howard Arnoff | 4 Comments
Wednesday, October 24, 2007 3:40 PM

Economists weigh in on housing data

Before I link to an article in the Wall Street Journal Online Economists Blog, a few old jokes might set the plate so to speak. Someone becoming more of an old joke each day >>>>>>>>>>>>>>>> Q: Why did God
Posted by Howard Arnoff | 2 Comments
Monday, October 01, 2007 2:54 PM

Alan Greenspan started talking and now we can't shut him up

For 18 years at the helm of the Federal Reserve, Alan Greenspan talked infrequently and in a language so convoluted, it became known as Greenspeak. With his new book on sale, he has been talking more in the past month than during his years at the Fed.
Posted by Howard Arnoff | 0 Comments
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Friday, September 21, 2007 11:59 AM

How does the rate cut by the Fed affect mortgage rates

An excellent ask the agent question. What happened to mortgage rates in light of the Federal Reserve interest rate cut the other day, did mortgage rates go down? Would you be surprised if I told you they went up and how can that be because that is exactly
Posted by Howard Arnoff | 0 Comments
Tuesday, September 18, 2007 1:59 PM

Federal Reserve acts decisively in lowering rates

The Federal Reserve board led by Ben Bernanke took decisive action today in lowering the Fed Funds rate by a half point and additionally, lowered the discount rate as well by another half point. Expectations for a rate cut did not anticipate this aggressive
Posted by Howard Arnoff | 0 Comments
Friday, September 14, 2007 8:22 AM

Was Alan Greenspan to blame for the mortgage mess

Alan Greenspan is either loved or hated for how he handled the economy as the Chairman of the Federal Reserve Bank. Beginning in 1987, he was thrown into the fire quickly with the October stock market crash. He is credited with leading the economy to
Posted by Howard Arnoff | 3 Comments