How the 2009 Stimulus Package May Affect Interest Rates
As a presidential candidate in 2008, Barack Obama announced an immense stimulus package proposal of $175 billion. After taking office, President Obama is now considering a much larger proposal package that could exceed $500 billion. There are a few stipulations in this proposal that President Obama has considered in past proposals that could directly affect […]
Texas FHA Lending Boom
Is the boom in FHA Lending a cause for concern? Nearly 20% of all new mortgages now insured by government agency. The Texas mortgage shakedown of the subprime mortgage industry and its fallout on conventional lenders has led to such a boom in business at the Federal Housing Administration that the agency is now insuring nearly […]
Mortgage Shakedown and Where Texas Borrowers Stand
Are you worried that the failure for Congress to pass the Federal bailout will create you to have a tougher time to get a home or auto loan? Well, you should be. The credit crisis has banks less willing to lend money to each other, which ultimately means it will be harder for borrowers to […]
Uncle Sam Bails Out Freddie & Fannie
Fannie Mae and Freddie Mac sound like an aging aunt and uncle, but these are both “government-sponsored enterprises”. This means that they are privately owned, but receive support from the Federal Governement, and assume some public responsibilities. The recent mortgage crisis and fallout from sub-prime lending has gotten both Freddie & Fannie in dangerous waters […]
Texas Housing Market Update
Nationally communities still reeling as foreclosure rates rise and as mortgage defaults and foreclosures continue to rise, the impact is spreading well beyond those who are losing their homes. Fortunately majority of Texas, especially the Austin & san Antonio markets, seem to not be feeling the sub-prime collapse as much as the rest of the […]
Fed to Cut Rates Again
Federal Reserve Chairman Ben Bernanke told Congress Thursday that America’s economic outlook has deteriorated and signaled that he was prepared to cut rates as needed to stimulate the econonmy. Bernanke said the one-two punch of the housing and credit crises has put much pressure on our struggling economy. Hiring has slowed and people are likely […]
