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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

| August 18th, 2017 | Comments Off on MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

Cause and effect this week covered a wide and improbable range. Perhaps the most important actual, real fact arrived on Monday, before the nation scattered its marbles altogether: the economy is fine. July retail sales jumped .6%, double the forecast, and without any phony boost from auto sales fueled by subprime lending. June retail sales […]

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

| August 11th, 2017 | Comments Off on MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

In the absence of useful economic news, begin with a little political-money stuff, then remembrance of the 10th anniversary of the beginning of the credit disaster, the advent of QE, and now its reversal, RQE. Nobody can handicap the DPRK/Trump engagement. But to say it doesn’t matter… bull byproduct. Ray Dalio, billionaire founder and top […]

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

| August 4th, 2017 | Comments Off on MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

This week’s news is mostly a tale of misinformation. But first, some reliable data. July payrolls released this morning grew by 209,000, enough to stop cold a decline in mortgage and other long-term rates. Also roughly double the monthly gain which would stabilize the unemployment rate at today’s 4.3% — either stop hiring, or add […]

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

| July 28th, 2017 | Comments Off on MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

Events are moving fast, this account timestamped mid-afternoon Friday. The economic news is excellent. The other news is not. The first estimate of second-quarter GDP arrived this morning, plus 2.6% annualized. Q1 was revised down from 1.4% to 1.2%. Add the two quarter results together, divide by two, and we have 1.8% annualized growth in […]

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

| July 21st, 2017 | Comments Off on MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

The world is moving out there, although it doesn’t look like it. First the explainable, hard-evidence stuff, then the other stuff. First, try to avoid reading or thinking about the stock market. In the aggregate, stock markets constantly re-price to anticipate future global business conditions, and stocks are guaranteed to wander back and forth across […]

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

| July 14th, 2017 | Comments Off on MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

 Quiet on the surface, still. The 10-year T-note opened the week at 2.39% and is finishing at 2.32%, mortgages stuck at 4.125% The Dow set another record high, ho-hum, beginning Monday at 21,386, ending at 21,621 — the gain entirely within fifteen minutes of the release of Chair Yellen’s peaceful semi-annual testimony to Congress. New […]

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Values Continue to Increase

| July 13th, 2017 | Comments Off on Values Continue to Increase

The S&P CoreLogic Case-Shiller Indices for April show Denver with the 4th largest price gains year-to-date. Our market has seen an increase of 8.4% and only comes in behind Seattle, Portland and Dallas. The country overall is averaging a YTD increase of 5.8%, which is the fastest past in over three years according to David […]

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Freddie Mac Repealing 2% Grant Program

| July 7th, 2017 | Comments Off on Freddie Mac Repealing 2% Grant Program

While disappointing to hear of this program going away, we still have several great options for first-time homebuyers and those with little money down. We will be able to honor any loans that were in process with the 2% grant but we will be unable to offer it going forward, effective immediately. Freddie released the […]

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

| July 7th, 2017 | Comments Off on MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

  Damn. Good news everywhere. The bond market likes bad news and must have it for rates to go lower. News, news everywhere, and nary a scary drop. Long-term rates have snapped up from the post-election low only two weeks ago. The US 10-year Treasury from 2.14% to 2.39%, mortgages following. Add 1.80% to the 10-year […]

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

| June 30th, 2017 | Comments Off on MORTGAGE CREDIT NEWS BY LOUIS S. BARNES

This week it is a tad more difficult than usual to thresh wheat from chaff. At the outset, anyway, stick with Clinton’s Law: “It’s the economy…”. The economy is somewhere between okay and just fine. 1st Quarter GDP was initially reported as weak, a 0.7% annualized gain, but revision this week has doubled to 1.4% […]

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