{"id":4792,"date":"2008-10-03T11:26:32","date_gmt":"2008-10-03T18:26:32","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=4792"},"modified":"2008-10-03T11:26:32","modified_gmt":"2008-10-03T18:26:32","slug":"mortgage-market-week-in-review-11","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4792\/mortgage-market-week-in-review-11\/","title":{"rendered":"Mortgage Market Week in Review"},"content":{"rendered":"

Well, here we are on Friday again. Are you getting motion sickness from all of the news and rumors that are flying back and forth? Wow has it been another week to forget, hasn\u2019t it?<\/p>\n

Here are the topics we\u2019re going to talk about today: The Bailout\/Rescue Plan, some very weak economic reports, the credit markets and do bankers really trust each other?<\/p>\n

First, there were several economic reports that came out. None of them were good. Here\u2019s a rundown of them:<\/p>\n

1. Jobs – the jobs report came out this morning and showed that 159,000 jobs were lost in September. While the number was lower than what the markets expected (they expected 200,000), it was a very weak report.<\/p>\n

2. Factory orders came in down 4%. That\u2019s not the direction we\u2019d like them to go.<\/p>\n

3. Car Sales fell off a cliff in September. Ford\u2019s sales dropped 35%. Ouch.<\/p>\n

4. A couple of reports on personal incomes, personal expenditures and the like came out and they weren\u2019t good.<\/p>\n

If these were the only issues that we had, we\u2019d have our hands full and we\u2019d see mortgage rates drop due to the increased weakness in the economy.<\/p>\n

But that\u2019s not all. The credit markets have taken a major hit in the last week. What\u2019s happening with that? A couple of brief highlights:<\/p>\n

1. Banks are very concerned about running out of money (capital). Wachovia (more on this later) and Washington Mutual have been \u201cbought out\u201d to keep them from going under. Other banks are concerned that the losses they are experiencing will not enable them to keep their capital ratios where they should be. Due to that, there is an increasing reluctance to lend to commercial customers and to lend to consumers. How bad is it? I\u2019ve heard a variety of conflicting reports. What I can say from personal experience is that for people (consumers, not businesses) who have the following: 1) Some equity in the Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Well, here we are on Friday again. Are you getting motion sickness from all of the news and rumors that are flying back and forth? Wow has it been another week to forget, hasn\u2019t it? Here are the topics we\u2019re going to talk about today: The Bailout\/Rescue Plan, some very weak economic reports, the credit […]<\/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":[29,26],"tags":[236,248,246,159,247],"class_list":{"0":"post-4792","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-lending","8":"tag-bailout","9":"tag-citigroup","10":"tag-vanderwell","11":"tag-wachovia","12":"tag-wells","14":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":4039,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4039\/mortgage-market-week-in-review-7\/","url_meta":{"origin":4792,"position":0},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"August 22, 2008","format":false,"excerpt":"Here we are on Friday again and it\u2019s time to take another look at what\u2019s going on in the mortgage markets. This week we\u2019re going to talk about two economic reports and two big question marks. First the economic reports from the week: 1. The Index of Leading Economic Indicators\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":3378,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3378\/mortgage-market-week-in-review-2\/","url_meta":{"origin":4792,"position":1},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"July 18, 2008","format":false,"excerpt":"Well, believe it or not, we've made it through another week.\u00a0\u00a0 And wow, what a week it's been.\u00a0\u00a0 I'm going to try a little bit of a different \"scenario\" for this week's Mortgage Market Week in Review.\u00a0\u00a0 Rather than trying to tell you everything that's been happening this week (it\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":1810,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1810\/the-countrywide-federal-bailout-act-of-2008\/","url_meta":{"origin":4792,"position":2},"title":"The Countrywide Federal Bailout Act of 2008","author":"Brian Brady","date":"August 15, 2007","format":false,"excerpt":"Have you ever felt your stomach drop? I received an e-mail, from reader Robert Kerr today, asking if I had seen Merrill Lynch's downgrade of Countrywide Financial. Merrill Lynch believes that Countrywide might face bankruptcy. Make no mistake about it, a collapse of Countrywide Financial will give everybody in the\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"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":4792,"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":4678,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4678\/mortgage-market-week-in-review-to-bail-or-not-to-bail\/","url_meta":{"origin":4792,"position":4},"title":"Mortgage Market Week in Review – to Bail or not to Bail?","author":"Tom Vanderwell","date":"September 26, 2008","format":false,"excerpt":"Yikes, every week it\u2019s getting more and more challenging to lay out for you what\u2019s going on in the markets.\u00a0\u00a0 Hopefully it will get easier, but I\u2019m not really sure that it will for a while.\u00a0 So what are we going to talk about this week?\u00a0\u00a0 This week it\u2019s about\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4709,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4709\/an-update-on-the-bailout\/","url_meta":{"origin":4792,"position":5},"title":"An Update on the Bailout….","author":"Tom Vanderwell","date":"September 29, 2008","format":false,"excerpt":"and yes, after doing some more reading on it, I do still consider it a bailout. I\u2019m going to put a copy of a post that Yves at Naked Capitalism wrote in italics and then my comments will be interspersed in bold print and then I\u2019ve got more thoughts at\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4792","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=4792"}],"version-history":[{"count":5,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4792\/revisions"}],"predecessor-version":[{"id":4797,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4792\/revisions\/4797"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=4792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=4792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=4792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}