Time to Review Our Weekby Tim Manni
-Who is and who should be ultimately responsible when it comes to a failed home loan?
-With rental vacancies falling and rents increasing in certain areas of the country, should existing and would-be renters be worried?
-Are we prepared for the possibility of a double-dip-housing recession?
Over the last few weeks or so, we (the blog) have been encouraging readers to elaborate on their comments by offering them the opportunity to write a guest post.
Reader “Morticia” works in the mortgage banking industry and has been working “nights and weekends” to close loans in time for the tax credit. The pressure on the mortgage industry to close these loans in time was tremendous.
We want to thank all our readers who participated in our latest poll: “Do You Support the Extension of the Homebuyer Tax Credit’s Closing Deadline?”
With over 1,000 votes so far, it is clear that the overwhelming majority of our readers supported the extension. To date, 92% of voters thought extending the closing date of the homebuyer tax credit was a good idea, with some 77% noting that their deal wouldn’t have closed without it.
On December 31, 2009, HSH.com released the “2010 Outlook for Mortgage Rates and the Mortgage Market.” We examined the 10 most important factors that we thought would influence mortgage rates and the overall mortgage market throughout the upcoming year.
It was a humbling experience as we went back to take a look at our original forecasts in order to make the appropriate mid-year updates.
“Low and slow”: The perfect strategy for cooking barbecue ribs, but far from ideal in terms of an economic situation. Unfortunately, “low and slow” is how our current economic recovery is playing out. Some of the latest economic reports that investors and analysts were hoping would thrust us toward a speedier rebound — June’s job report, home sales (to name a few) — haven’t delivered.
The one bright spot in our slogging economy is mortgage rates.