{"id":5071,"date":"2008-10-17T15:02:57","date_gmt":"2008-10-17T22:02:57","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=5071"},"modified":"2008-10-17T15:02:57","modified_gmt":"2008-10-17T22:02:57","slug":"mortgage-market-week-in-review-12","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5071\/mortgage-market-week-in-review-12\/","title":{"rendered":"Mortgage Market Week in Review"},"content":{"rendered":"<p><span><span><span style=\"Arial;\">Well, here we are and it\u2019s time for another Mortgage Market Week in Review.\u00a0\u00a0 This week, we\u2019re going to talk about consumer spending, consumer confidence, the new normal, where\u2019s the bottom?\u00a0and why interest rates have had a 1 percent up and half percent down swing since last week Wednesday.<\/span><\/span><\/span><\/p>\n<div>\n<p><span><span> <\/span><\/span><\/div>\n<div>\n<p><span><span><span style=\"Arial;\"><strong>Consumer Spending<\/strong> &#8211; Retail Sales came out and surprise!\u00a0\u00a0 They were down by 1.2%.\u00a0 With all of the gloom and doom that is being preached in the mainstream media, is it any wonder that people are pulling back?\u00a0\u00a0 Nope.\u00a0\u00a0 But something that I think is missing from the discussions is a simple question.\u00a0\u00a0 Are (or were) people spending more than they were making?\u00a0\u00a0 I believe that a pretty convincing case can be made that our society was living on credit and spending more than they made for too long.\u00a0\u00a0 It appears that it\u2019s starting to catch up with us.<\/span><\/span><\/span><\/div>\n<div>\n<p><span><span> <\/span><\/span><\/div>\n<div>\n<p><span><span><span style=\"Arial;\"><strong>Consumer Confidence <\/strong>&#8211; The same goes here.\u00a0\u00a0 The mainstream media is preaching gloom and doom and consumer confidence is down, way down.\u00a0\u00a0 Are there cases where the mainstream media are overdoing things?\u00a0\u00a0 Absolutely.\u00a0\u00a0 However, I was telling my wife the other night that I think being a mortgage guy watching the news about the economy is sort of like being a nurse (she is) watching her parent be a patient (she did this week &#8211; Mom is fine).\u00a0\u00a0 She said she can readily believe that.\u00a0\u00a0 The media is overdoing things, but frankly there are a lot of really ugly things going on.\u00a0\u00a0\u00a0I\u2019m not going to go into them, but if you want to read up on them (and keep yourself up at night), let me know and I\u2019ll point\u00a0 you to some good sites on the web to read up on them.<\/span><\/span><\/span><\/div>\n<div>\n<p><span><span> <\/span><\/span><\/div>\n<div>\n<p><span><span><span style=\"Arial;\"><strong><span style=\"#888888;\">The new fundamentals in mortgage rates<\/span>.<\/strong> What in the world happened to mortgage rates?\u00a0\u00a0 Last Wednesday, they were at 5.875%, they climbed to a high of 6.875% and then dropped back to 6.375% by today.\u00a0\u00a0 A couple of thoughts:<\/span><\/span><\/span><\/div>\n<div>\n<p><span><span><span style=\"Arial;\">1. As the government, not only ours but virtually all governments in the world, has gone on a huge borrowing spree, that has <a href=\"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5071\/mortgage-market-week-in-review-12\/#more-5071\" class=\"more-link\">Read more<\/a><\/span><\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Well, here we are and it\u2019s time for another Mortgage Market Week in Review.\u00a0\u00a0 This week, we\u2019re going to talk about consumer spending, consumer confidence, the new normal, where\u2019s the bottom?\u00a0and why interest rates have had a 1 percent up and half percent down swing since last week Wednesday. Consumer Spending &#8211; Retail Sales came [&hellip;]<\/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":[5],"tags":[],"class_list":{"0":"post-5071","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3284,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3284\/mortgage-market-week-in-review-the-fed-translated\/","url_meta":{"origin":5071,"position":0},"title":"Mortgage Market Week in Review &#8211; the Fed Translated&#8230;.","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 &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":13025,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/13025\/lucha-libre-mortgage-reform\/","url_meta":{"origin":5071,"position":1},"title":"Lucha Libre Mortgage Reform","author":"Don Reedy, San Diego, CA","date":"August 18, 2010","format":false,"excerpt":"Last week there was some discussion about what was to have happened today in Washington. This discussion centered around whether the government would or would not take certain steps to protect the housing market through a mandated deficit funded mortgage bailout. Today, we have some new information on what Tim\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5378,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5378\/mortgage-market-week-in-review-14\/","url_meta":{"origin":5071,"position":2},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"November 1, 2008","format":false,"excerpt":"I want to apologize for the delay in getting this out until Saturday.\u00a0\u00a0 Due to some technical difficulties and some new things I'm going to be implementing, Friday was spent working on computer issues.\u00a0\u00a0 Yeah, I know, a fun way to spend a Friday..... So, here we are at the\u2026","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6152,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6152\/the-fed-translated-3\/","url_meta":{"origin":5071,"position":3},"title":"The Fed Translated&#8230;..","author":"Tom Vanderwell","date":"December 16, 2008","format":false,"excerpt":"Release Date: December 16, 2008 The Federal Open Market Committee decided today to establish a target range for the federal funds rate of 0 to 1\/4 percent. What\u2019s up with the \u201crange\u201d of rates?\u00a0\u00a0 Well, they\u2019d look pretty foolish if they said they wanted the rate to be at .25%\u2026","rel":"","context":"In &quot;Lending&quot;","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":967,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/967\/a-selfish-case-for-national-originator-licensing\/","url_meta":{"origin":5071,"position":4},"title":"A Selfish Case for National Originator Licensing","author":"Brian Brady","date":"January 29, 2007","format":false,"excerpt":"There is a movement to create a national licensing platform for loan originators similar to the one the National Association of Securities Dealers (NASD) requires for registered representatives. Supporters of this movement claim that originators must be licensed because the quality of advice given to the consumer is woefully inadequate.\u2026","rel":"","context":"In &quot;Real Estate&quot;","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2892,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2892\/zillow-mortgage-marketplace-one-way-transparency-like-a-bad-online-dating-site\/","url_meta":{"origin":5071,"position":5},"title":"Zillow Mortgage Marketplace:  One Way Transparency Like A Bad Online Dating Site","author":"Brian Brady","date":"April 4, 2008","format":false,"excerpt":"Zillow Mortgage MarketPlace rang the opening bell and loan requests came flying in the door. I was pleasantly flabbergasted! It's no secret that I'm a Zillow-phile; I believe they are leading the way to transparent loan and real estate transactions. I'm tenuous, however, about spending too much time there. My\u2026","rel":"","context":"In &quot;Disintermediation&quot;","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5071","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=5071"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5071\/revisions"}],"predecessor-version":[{"id":5073,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5071\/revisions\/5073"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=5071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=5071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=5071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}