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who's been paying attention to the money market lately? the fed just dropped rates by half a point, which helped the stock market... so there's a plus. but i hear that fanny mae and freddy mac just (literally just now... still unannounced) stopped doing interest only loans!? wtf!
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Re: money
all i know is that my dollars aren't worth shit over here in france. exchange rate sucks! -
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Re: money
what change would make the dollar appreciate ... ??Comment
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Re: money
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Re: money
2 things
1. I/O loans are still readily available. i just closed em.
2. the fed rate that was cut wasnt anything that directly affects the individual. it it the rate at which the reserve lends moeny to federally chareted banks.
im seeing rates as low as 5.75 for anyone with a clean mortgage history and a 621+ FICO score. the big things that were taken off the market were high LTV loans going stated, and option arms. both products are still out there, as world savings (wachovia) are still doing the option arms. the big thing that changed is that now you essentially require a 680 mid score and cannot go over 80LTV if you want to go stated.
news: the FHA is gonna bring in stated products. and self employed borrowers are gonana be helped out as freddie and fanny are asking the banks to consider bank statements moreoften.
ps. im FHA certified in all 50 people. gimme yer business.your life is an occasion, rise to it.
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Re: money
Well, Im not sure how much lower the housing prices will drop, but there still relatively pricey for me. (The price you pay for living in this fucking city)
I'll be tying the knot in early March and it looks like we're gonna rent. At least for the first 6 months...then we'll take a look at the housing market and go from there.
So maybe by this time next year, I'll be either purchasing a home or renewing another 6 month lease.
Last time I checked I had a fico score of 760. So I dont think I'll have a problem. My fiancee also has good credit.Comment
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Re: money
im salary, but i get a % of refferal work. and its a nice one at that.your life is an occasion, rise to it.
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Re: money
Fed overreacted IMO. But hey if you were trading that call, that's about the free-est, easiest money you could ever get in life.
Not that I believe Greenspan much (although he can be a bit more loose now), but he was talking double-digit interest rates needed to stave off inflation within a few years...which would essentially put us back in the early 80's...and start a new cycle probably.FM
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Re: money
its weak housing vs inflation right now ... the greenspan comments arent that far off ... our curreny has fallen against everyones and i dont know what's propping it up ..Comment
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Re: money
as far as the housing market, alot of banks are being strict with lending now....its not as easy as it was before to get a home loan.Edited - Bossy to racey for workComment
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