{"id":3813,"date":"2008-08-08T08:17:35","date_gmt":"2008-08-08T15:17:35","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=3813"},"modified":"2008-08-08T09:26:03","modified_gmt":"2008-08-08T16:26:03","slug":"mortgage-market-week-in-review-5","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3813\/mortgage-market-week-in-review-5\/","title":{"rendered":"Mortgage Market Week in Review"},"content":{"rendered":"
\n

So, it\u2019s Friday again and what has this week been like for the mortgage world? Well, it\u2019s certainly not been boring, that\u2019s for sure! We\u2019re going to talk about six different things in today\u2019s Mortgage Market Week in Review:<\/p>\n

Freddie Mac<\/strong> – They started the week\u2019s major news by announcing on Tuesday that they had lost a LOT more money than the market had expected in the last quarter, like $821,000,000 in 90 days. That works out to approximately $380,000 per hour in losses<\/strong>. The markets started worrying about the likely that the government will actually have to bailout Fannie and Freddie. The credit markets get nervous (or more nervous depending on your viewpoint).<\/p>\n

The Fed <\/strong>– on Tuesday it would appear at first glance that what they did was a big fat nothing. I\u2019ve done a fair amount of reading and studying of Bernanke and his views and I think I\u2019d have another take on it. What the Fed said on Tuesday was (my paraphrase \")\" \u201cThe economy has some risks on both sides, the risk of recession and the risk of inflation, we\u2019ve made the moves we\u2019ve needed to make, we will continue to monitor things to make sure that the outcome we\u2019re planning on happens, we think it might be a bumpy landing, but we\u2019re confident we\u2019ll be fine.\u201d <\/strong> So rather than a \u201cdo nothing\u201d statement, it was more of a \u201cThings will come out okay, just be patient\u201d statement. Does that make sense?<\/p>\n

AIG <\/strong>– Not to be outdone by Freddie, AIG announced that during the second quarter, they lost $5.36 billion (that\u2019s $5,360,000,000 or $2,481,000 per hou<\/strong>r). Their losses were in collateralized debt obligations (aka CDO\u2019s) that were mainly fancy packages of mortgage debt. Hmmm, that\u2019s a pretty big number.<\/p>\n

Unemployment Claims<\/strong> – Initial claims for the week came it at 455,000, the highest since 2002<\/strong>. That\u2019s not a good number.<\/p>\n

Pending House Sales<\/strong> – depending on whether you listen to the mainstream media or some of the analysts who look at the numbers behind the numbers, the report is either: 1) A sign that the housing market Read more<\/a><\/strong><\/div>\n","protected":false},"excerpt":{"rendered":"

So, it\u2019s Friday again and what has this week been like for the mortgage world? Well, it\u2019s certainly not been boring, that\u2019s for sure! We\u2019re going to talk about six different things in today\u2019s Mortgage Market Week in Review: Freddie Mac – They started the week\u2019s major news by announcing on Tuesday that they had […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,5],"tags":[178,177],"class_list":{"0":"post-3813","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-real-estate","8":"tag-mortgage-rates","9":"tag-the-fed","11":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3352,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3352\/mortgage-market-week-in-review-fannie-and-freddie\/","url_meta":{"origin":3813,"position":0},"title":"Mortgage Market Week in Review – Fannie and Freddie","author":"Tom Vanderwell","date":"July 11, 2008","format":false,"excerpt":"Okay, here it is Friday afternoon and time to write the \"Mortgage Market Week in Review.\" You know how some newscasts warn you to tell the kids to go in the other room because what comes on next isn't going to be pretty? Well, there aren't any pictures but what's\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14915,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14915\/what-could-be-worse-than-uncle-sam-as-the-nations-mortgage-monopolist-how-about-uncle-sam-the-monopoly-landlord\/","url_meta":{"origin":3813,"position":1},"title":"What could be worse than Uncle Sam as the nation’s mortgage monopolist? How about Uncle Sam the monopoly landlord?","author":"Greg Swann","date":"August 10, 2011","format":false,"excerpt":"From the Associated Press:The Obama administration may turn thousands of government-owned foreclosures into rental properties to help boost falling home prices. The Federal Housing Finance Agency said Wednesday it is seeking input from investors on how to rent roughly 250,000 homes owned by government-controlled mortgage companies Fannie Mae and Freddie\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6365,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6365\/a-45-mortgage-in-every-pot\/","url_meta":{"origin":3813,"position":2},"title":"A 4.5% Mortgage In Every Pot","author":"Brian Brady","date":"December 30, 2008","format":false,"excerpt":"Embrace the New Deal!\u00a0 The Bailout has made its way to Main Street. The Fed's gonna do it..for real: The Federal Reserve on Tuesday announced that it expects to begin operations in early January under the previously announced program to purchase mortgage-backed securities (MBS) and that it has selected private\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4374,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4374\/mortgage-market-week-in-review-9\/","url_meta":{"origin":3813,"position":3},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"September 12, 2008","format":false,"excerpt":"Well, it\u2019s Friday again, so it\u2019s time for another Mortgage Market Week in Review.\u00a0\u00a0 I\u2019m going to talk just a little about Fannie and Freddie and then deal with some of the other issues that are currently affecting the financial markets. First Fannie and Freddie: As EVERYONE knows by now,\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17130,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17130\/mortgage-refinancing-and-forbearance-three-balls-you-walk-one-strike-and-your-out\/","url_meta":{"origin":3813,"position":4},"title":"Mortgage Refinancing and Forbearance: Three Balls, You Walk, One Strike, You’re Out","author":"Brian Brady","date":"September 24, 2020","format":false,"excerpt":"One of the most consistent of the \"old school mortgage bloggers\" is Rhonda Porter in Seattle, writing over on The Mortgage Porter.\u00a0 She offers no-frills information about mortgage markets, the kind of straightforward advice homeowners need.\u00a0 Her blog is almost 15 years old. I wanted to advise current homeowners why\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/09\/blogging-guide-xYaMK5p3vCA-unsplash-480x320.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":7526,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7526\/the-fed-translated-5\/","url_meta":{"origin":3813,"position":5},"title":"The Fed Translated…..","author":"Tom Vanderwell","date":"March 18, 2009","format":false,"excerpt":"Well, it's time to do a little Fed translating again.\u00a0\u00a0 This one was a big one, so settle in and let's translate it.\u00a0\u00a0\u00a0 As usual, my comments are in bold and italics.Release Date: March 18, 2009 For immediate release Information received since the Federal Open Market Committee met in January\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=3813"}],"version-history":[{"count":4,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3813\/revisions"}],"predecessor-version":[{"id":3817,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3813\/revisions\/3817"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=3813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=3813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=3813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}