Calling all Realtors, bloggers, and readers in San Francisco! Share your experiences on the market in this thread. I, Alex Clark (the editor), am actually feeling chatty and have been chiming in, and would love some insight from my colleagues as well as all you readers and bloggers. Go ahead…comment. It’s actually kind of fun. … Continue reading A call to comment (our market, overbids, mortgage mania)
We’re not ones to only tell one side of the story (although continually blamed for it, and admitadly a bit bullish). We’re certainly not ones to always point to roses, and we’re definitely not afraid of helpful comments and good articles to keep us thinking, so keep sending them, and please discuss. At the heart … Continue reading Point, counter point, more Sub Prime mortgage blaming
Could it be true? “It is with much sadness that I write to inform you that Bank of America has opted to close its Wholesale Channel effective December 31, 2007. This is a bank strategy to become number one in direct to consumer… do not have much information at this time but it is my … Continue reading Bank of America exiting wholesale mortgage business?
This piece, the Real State of Real Estate (pdf) was sent to us by a very reliable mortgage broker in our city. However, he did not write it, so we can’t give credit to him, nor can we give credit to the person who wrote it, as we don’t know who did. If anyone can … Continue reading “The Real State of Real Estate”
From a reader (not Boomtime, not MarinaPrime, not me, not any of the other bulls…), verbatim: “Fed Cut the Rate! Seatbelts, please… * FED CUTS FEDERAL FUNDS RATE HALF POINT TO 4.75% * FED CUTS DISCOUNT RATE HALF POINT TO 5.25% * Yield curve steepened dramatically as the 2Y went from 4.13% to less than … Continue reading “Fed Cut the Rate! Seatbelts, please…”
A quote and a link from Damion Matthews…to an article that is quite representative of a lot of what is going on in some parts of the city, and not at all representative of a lot of what is going on in many parts of the city. Get that? ;-) Read it again. In and … Continue reading SF getting hurt by subprime crisis?
“Hello Front Steppers, We bought our SFR in 2004 and have a 3/1 ARM of $600K on a $1mil home. We can pay the newly adjusted amount without really changing our lifestyle, but we would like to refinance before the next rate adjustment in 10 months. With all that is going on in the mortgage … Continue reading Stump the Stammtisch: Refinancing our 3/1 ARM…
by Miles Grant WHAT’S GOING ON IN THE MORTGAGE INDUSTRY? I have been getting calls from Realtors and principles asking if we are still going to be able to fund loans, and other questions. Following is a list of questions and answers. What is going on? Most lenders sell to Wall Street and Wall Street … Continue reading What’s going on in the mortgage industry
from “D” “This goes along with my comment yesterday about the repricing of risk. It’s not a bad thing. This concern about jumbo mortgages costing 6.8% or 7.5% is actually funny because for most of the 1990s boom, and well into the 2000s, interest rates were exactly at these levels! When I bought my condo … Continue reading Repricing of risk, not a bad thing
Big news yesterday in the world of Big (Jumbo) Loans, and big rate hikes, that fortunately appear to be stabalizing. Talk about creating panic. If you have the time, scan the links, then make sure to read “Some Reactions as well. Thanks to DL for sending the link and this quote below: The Fed leaving … Continue reading Mortgage Reportage