Chris McDonald's (chrismcdonald) Blog

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Mortgage and Lending - WR Starkey Mortgage, LLP.

ARCHIVED BLOG POSTS

2008 

Mortgage interest rates increased during the week ended March 13, in some cases more than wiping out the substantial declines reported for the week ended March 6.According to Freddie Mac's Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) had an average rate of 6.13 percent, a...
03/19/2008
Wednesday's bond market opened well in positive territory but has since given back part of those gains. The stock markets are showing losses after yesterday's huge rally. The Dow is currently down 25 points while the Nasdaq has fallen 15 points. The bond market is currently up 17/32, which should...
03/19/2008
TUESDAY AFTERNOON UPDATE: Today's FOMC meeting adjourned with an announcement of a three-quarter of a percent cut to key short-term interest rates. This led to a significant stock rally with the Dow up 420 points and the Nasdaq up 91 points. The bond market is currently down 42/32, which will lik...
03/18/2008
Housing starts and the pulling of construction permits continued to decline in February according to a monthly report issued by the U.S. Census Bureau and the Department of Housing and Urban Development.Building permits for all residential construction were issued at a seasonally adjusted annual ...
03/18/2008
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Let's preface "mild correction" by admitting that there are fewer more hotly contested debates among compliance gurus than disclosure of PFC's and YSP. After working over the years with numerous people who I consider highly educated regarding compliance (and some of them with ties to state audito...
03/18/2008
The Federal Reserve had a busy weekend.First, of course, the Fed arranged to assist J.P. Morgan Chase in acquiring Bear Stearns by approving a $30 billion credit line to J.P. Morgan, secured by the Bear Stearns portfolio, a move that, by early Monday the talking heads were referring to as "nation...
03/18/2008
By mid-morning the stock market was bucking up strongly behind the news of the stunning sale of Bear Stearns at $2 a share. However, there was still bad news out there.PMI Group, one of the largest private mortgage insurance companies, reported a record loss of $1.01 billion or $12.51 a share for...
03/18/2008
Legislative Changes to RESPATo further bolster consumer protection and to ensure uniform and consistent enforcement of RESPA, HUD intends to seek legislative changes to the Act that will complement the regulatory improvements made by the rule. Currently, RESPA does not provide HUD with enforcemen...
03/17/2008
In an effort to significantly improve the complicated, unclear and costly homebuying process, U.S. Housing and Urban Development Secretary Alphonso Jackson today proposed mortgage reform designed to help consumers better understand their loan terms so that they can shop more effectively for the l...
03/17/2008
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The news wasn't surprising but the price tag was a real stunner.On Sunday J.P. Morgan chase agreed to pay $2 per share to acquire failing Wall Street investment bank Bear Stearns, lock, stock, and barrel. And the purchase price, by the way, will be paid entirely in stock and includes purchase of ...
03/17/2008
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