{"id":3917,"date":"2008-08-15T08:08:07","date_gmt":"2008-08-15T15:08:07","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=3917"},"modified":"2008-08-15T08:08:07","modified_gmt":"2008-08-15T15:08:07","slug":"mortgage-market-week-in-review-6","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3917\/mortgage-market-week-in-review-6\/","title":{"rendered":"Mortgage Market Week in Review"},"content":{"rendered":"
\n

Well, it\u2019s Friday again, and as one of the few remaining Fridays of the summer, I hope you can get out and enjoy the weekend (and hopefully the weather where you are will allow you to!)<\/p>\n

So what\u2019s been happening in the mortgage market this week? This week it\u2019s been all about inflation and housing statistics\u2026..<\/p>\n

Inflation <\/strong>\u2013 the Consumer Price Index grew by a much faster than expected .8% during July. Normally, that would send the markets into \u201cfreakout\u201d mode but the markets didn\u2019t really react all that much. Why? A couple of things: 1) A huge amount of the increase was due to the rising costs of energy and that has dropped quite substantially since the first of August, thereby easing the risk of inflation. 2) There has been quite a bit of \u201cnoise\u201d lately on how the slowing of the economy both here and internationally will become, eventually, anti inflationary. How does that work? In a nutshell, if there aren\u2019t many people shopping at Best Buy, they can\u2019t very well raise prices, can they?<\/p>\n

Housing Statistics<\/strong> \u2013 I\u2019m not going to get into the itty bitty details of the housing statistics that have been released lately but I\u2019m going to give you a bit of an overview of the reports and try to focus on the bigger picture rather than get stuck on details:
\n1. Foreclosures are rising<\/strong> \u2013 the number of homes that have been foreclosed on in July vs. last year is a LOT higher. In some areas of the country, it\u2019s a staggering percentage higher, in others, just higher. But it\u2019s up. What does that mean? It means that the troubles in the housing and credit markets are still going on and are potentially getting worse.
\n2. REO \u2013<\/strong> Real estate owned by a bank or financial institutions. According to one report issued this week, banks and financial institutions now own over 750,000 homes throughout the United States. What does that mean? Essentially this, if we had to relocate the entire city of Chicago, we could find a bank owned home for every resident of Chicago and there Read more<\/a><\/strong><\/div>\n","protected":false},"excerpt":{"rendered":"

Well, it\u2019s Friday again, and as one of the few remaining Fridays of the summer, I hope you can get out and enjoy the weekend (and hopefully the weather where you are will allow you to!) So what\u2019s been happening in the mortgage market this week? This week it\u2019s been all about inflation and housing […]<\/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":[],"class_list":{"0":"post-3917","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2529,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2529\/amaze-your-friends-why-the-surprise-fed-funds-rate-drop-isnt-impacting-mortgage-rates\/","url_meta":{"origin":3917,"position":0},"title":"Amaze Your Friends : Why The “Surprise” Fed Funds Rate Drop Isn’t Impacting Mortgage Rates","author":"Dan Green","date":"January 22, 2008","format":false,"excerpt":"Advanced Fiscal Literacy For Real Estate Professionals The Fed Funds Rate is a fair proxy for economic health.\u00a0 When the economy is growing, the FFR\u00a0rises to fight inflation. When the economy is slowing, the FFR\u00a0falls to fight \"the absence of inflation\" (i.e recession). If inflation is the enemy of mortgage\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":761,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/761\/why-the-fed-matters-to-real-estate\/","url_meta":{"origin":3917,"position":1},"title":"Why The Fed Matters to Real Estate","author":"Dan Green","date":"December 12, 2006","format":false,"excerpt":"The Federal Open Market Committee meets today and will keep the Fed Funds Rate unchanged at 5.250%. It is not what the Fed does, however, that should concern Americans. It's what the Fed says. First, a clarification. The Fed Funds Rate is directly tied to Prime rate which impacts lines\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3284,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3284\/mortgage-market-week-in-review-the-fed-translated\/","url_meta":{"origin":3917,"position":2},"title":"Mortgage Market Week in Review – the Fed Translated….","author":"Tom Vanderwell","date":"June 27, 2008","format":false,"excerpt":"Hi all, I want to thank Greg and Teri and Brian and....everyone for the honor of being invited to hang out with such an esteemed bunch.\u00a0 I'm really excited about it and looking forward to working, talking and \"raising the bar.\" I'll do up a post next week telling a\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":6858,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6858\/what-are-the-stimulus-plan-and-tarp-ii-going-to-mean-for-the-housing-and-mortgage-markets\/","url_meta":{"origin":3917,"position":3},"title":"What are the Stimulus Plan and TARP II going to mean for the housing and mortgage markets?","author":"Tom Vanderwell","date":"February 9, 2009","format":false,"excerpt":"While I could write for a LONG time about it, I'm going to limit it to what I feel are the top 6 things that I think could very well happen.\u00a0\u00a0 Keep in mind, this is being written after watching President Obama's press conference but before anything gets passed.1. The\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":3321,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3321\/mortgage-market-week-in-review\/","url_meta":{"origin":3917,"position":4},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"July 3, 2008","format":false,"excerpt":"Since it's a long holiday weekend, I'm posting my week in review today rather than the usual Friday.\u00a0\u00a0 I hope you all have a chance to enjoy a lot of good family times, some good weather, some good fireworks and LOTS of good food! How to best summarize this week?\u00a0\u00a0\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":3774,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3774\/the-fed-translated\/","url_meta":{"origin":3917,"position":5},"title":"The Fed Translated….","author":"Tom Vanderwell","date":"August 5, 2008","format":false,"excerpt":"As you have probably heard by now, the Fed held rates the same today.\u00a0\u00a0 Here\u2019s their statement (in italics) and my translation (in bold).\u00a0 I hope this helps you understand what is going on. The Federal Open Market Committee decided today to keep its target for the federal funds rate\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":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3917","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=3917"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3917\/revisions"}],"predecessor-version":[{"id":3919,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3917\/revisions\/3919"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=3917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=3917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=3917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}