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Economy

Home Equity is Just a Number

A recent Wall Street Journal story said, “More than 40% of borrowers who took out a mortgage in 2006 — when home prices peaked — are under water. Prices have dropped so much in some parts of the U.S. that some borrowers who took out loans more than five years ago owe more than their [...]

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Charlotte area Mortgage Updates

Mortgage markets improved last week as foreign buyers of mortgage debt helped to push mortgage rates to a 4-week low. The strength of the Stock Market and higher commodity prices should have pushed mortgage interest rates higher, but the bond market refused to play by old rules. It marked the 3rd consecutive week that rates [...]

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Young couples should rent

A recent opinion piece in Investment News claimed that ‘For young couples, renting may be a better option”.  I hate headlines like that  – they are designed to get your attention, but most people don’t have the time to read the article.  They end up with this piece of random advice floating around their head [...]

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Estimates for economy in 2010

Here is a nice looking chart I found with the consensus estimates for economic growth in 2010 from Bloomberg: In regards to mortgage rates, what would these outcomes have for home buyers?  On the right, a stalling economy keeps rates low as the threat of inflation is kept away. You’d see rates in the low 5% range [...]

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I Got no Place Else to Go

Just like Richard Gere’s character in An Officer and a Gentleman, central bankers recently acknowledged “I got no place else to go” when looking at the US debt and US Dollar.  Part of the recent run up in interest rates was due to speculation that foreign central banks would not continue to buy all the [...]

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