Happy New Year!!!

Here’s To a Better Year
 
Happy New Year!!!
 

2008 – The Year Of The Historic Market Crash

After three months of unprecedented volatility, December has been comparatively quiet.
In fact, the major U.S. benchmarks have notched the following month-to-date performance:
·         The Dow industrials have dropped 310 points.
·         The Nasdaq has slipped three points.
·         The S&P 500 has eased 25 points.
And following an eight-week, 41% market crash, the recent stability means the [...]

Rates on 30-year fixed-rate mortgage at lowest since 1971: Freddie Mac

Fixed-rate mortgages continue to fall
  Fixed-rate mortgage rates fell again this week, with the 30-year fixed-rate mortgage setting another record low, at least since Freddie Mac began doing its weekly survey in the early 1970s.
  The 30-year averaged 5.14% for the week ending Dec. 24, down from last week’s 5.19% average, according to the [...]

Happy Holidays….

 
Happy Holidays  
From The Huntington Beach Mortgage Oracle…
 
 
 
 

Bond Market News

Welcome to ‘end of year’ trading when traders head home early for the holidays creating lower trading volumes, spikes in volatility, and sudden price movements.
 
Our benchmark FNMA 4.5% bond fell 69bp to close at $101.03 on no formal economic news after trading in a 65bp intra-day range.
 
Timing is everything and the 4.5% 30 year [...]

Is It Cheaper To Buy Than Rent?

 
  In the current real estate environment it may be cheaper to buy than to rent.  Currently in Orange County California a two bedroom apartment rents for roughly 1,450 per month.  Rent money has not always been the best money spent.  With the current devaluation in Real Estate combined with mortgage rates in the 4% [...]

Auto Makers Get More Than 17 Billion in Loans

Yes, Detroit, there is a Santa Claus
Ending months of roller-coaster negotiations, President Bush moved Friday to extend $13.4 billion in loans to troubled U.S. auto makers, with another $4 billion likely available in February.
Bush, saying failure of the companies was not an option, cited the need to avoid “disorderly liquidation” during an already troubled economic [...]

The 4,5% Mortgage Rate Is Already Becoming Harder To Get

  In the current financial environment the 4.5% home mortgage rate is a great thing.  It will free up money for many people that qualify for the rate.  As you could imagine there has been a recent flood of refinance home loan submission.  The majority of these 4.5% loan submissions will require Mortgage Insurance due [...]

Hawaii Home Mortgages at 4.5%

  Emerald Coast Investments is currently structuring 30 year fixed home mortgages for primary and second homes in Hawaii, says Michael O’Brien – President.  
 
Emerald Coast can structure home mortgages at competitive rates with loan amounts as high as ten million. 
 
Emerald Coast Investments is not the typical lender, they have many loan programs from [...]

The Bond Market’s Wild Ride Continues

Surprise, surprise…volatility will once again be the key word on Wall Street today, as “quadruple witching” day occurs in the Stock markets. 
 
Quadruple witching, which happens four times a year, is the simultaneous expiration of market index futures, market index options, stock options, and stock futures.  
 
As Traders rush to unwind positions, Stock prices have the potential to [...]