Archive for May, 2009

(AFX UK Focus) 2009-05-29 20:24 Fannie Mae portfolio shrinks, delinquencies mount (Interactive Investor)
NEW YORK, May 29 (Reuters) - Fannie Mae said it shrank its gross mortgage portfolio at a 19.2 percent annual rate in April, while the serious delinquency rate on loans it guarantees rose in March to nearly triple the rate a year ago. Mortgage holdings of the largest U.S. home funding company declined to $770.06 billion from $783.9 billion in March, but stayed above the $728.4 billion level from …

Your Mortgage is Stealing your Future
Did you know that on your typical 30-year mortgage, it takes approximately 21 years just to pay down less than half of the principal of your loan? The Mortgage industry’s big secret has been kept away from the public since the Roosevelt administration. This little known secret has been taking you (and every other homeowner) for a very costly ride. Your 6% LOW INTEREST MORTGAGE IS REALLY costing you upwards of 60% or more! You might be asking how you could possibly be paying THAT much without

Mortgage approvals post slowest decline in 2 years (Tiscali)
LONDON (Reuters) - The number of UK home loans approved in April fell at its slowest annual rate in almost two years, the British Bankers’ Association said on Wednesday, in a sign the housing market may be stabilising after a very sharp slide.

How ’bout this market? Interesting mortgage program in the UK; GMAC caps comp
Last night I heard my daughter saying her prayers. “Dear God, please send clothes for all those poor ladies in Daddy’s computer. Amen.” One trader said, “Mortgages are getting banged like a screen door in a hurricane.” I assume that he was talking about mortgages and bond prices in general. Anyone who has been in this business for any length of time has seen rates shoot up, or rates shoot down, dramatically in the space of a few days. Personally, and I have been wrong before, I think

Guest Post: The Incredibly Uneven Recovery?
Submitted by Leo Kolivakis, publisher of Pension Pulse . The Dow Jones industrial average fell almost 175 points Wednesday, erasing most of the previous day’s rally as a jump in government bond yields fanned concerns that higher interest rates will sap strength from the economy : A steep drop in the price of the benchmark 10-year Treasury note pushed its yield up to 3.75 percent from 3.55 percent late Tuesday and to the highest level since November. Bond investors were sell

Talking About the First Home Buyer’s Grant Again
This is what the first home buyer’s grant does. It “brings forward demand.” But really, how generationally selfish is it to go into debt today so you can maintain your standard of living? That stimulus spending will have to be paid for. Taxes will have to rise. Or, more of the government’s tax takings will go to pay off creditors. Either way, isn’t there something inherently greedy about the whole idea of deficit spending? Households, businesses, the government…all of them take excessive ris

The Return of the Bond Vigilantes
Were you excited a few weeks ago when US mortgage rates fell to record lows of 4.75%? President Obama was. He urged struggling homeowners to refinance their mortgages, and whether it was at his urging or not, there was a refinancing rush and even a few people wanting to actually buy a home. How did rates get so low in the first place? There was a little bit of government engineering and a large amount of market manipulation by the Treasury and the Federal Reserve to achieve these low, low

02 Giugno / 26 Luglio - Colonia Sonora @ Certosa Reale di Collegno
Come ogni estate la Certosa Reale di Collegno ospita uno dei festival più longevi ed importanti del panorama torinese il “Colonia Sonora”. L’edizione 2009 aprirà il 02 giugno e subito il giorno successivo offrirà uno dei concerti più attesi dal pubblico: Lenny Kravitz! Di seguito riportiamo il programma del festival: 03/06/09 - Lenny Kravitz Ingresso: € 32,00 20/06/09 - Disculture Ingresso gratuito 21/06/09 - Extrema + Eldritch Ingresso gratuito 23/06/09 - Meganoidi