How ’bout this market? Interesting mortgage program in the UK; GMAC caps comp
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