Commentary

MORTGAGE CREDIT NEWS BY LOUIS S BARNES- 11/16/2018

MORTGAGE CREDIT NEWS BY LOUIS S. BARNES – Nov. 16, 2018 Odds are increasing for a surprise slowdown in the economy and a sudden halt to Fed rate hikes. That’s odds, as in Fancy Dan in the 5th at Pimlico. There are so many forces in play, so many lags in the effect of Fed…

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MORTGAGE CREDIT NEWS BY LOUIS S BARNES- 11/9/2018

MORTGAGE CREDIT NEWS BY LOUIS S. BARNES – Nov. 9, 2018 The immediate reaction to the election was a 545-point jump in the Dow, and long-term rates on the edge of upward breakout. The widespread assumption: Democrats did not do as well as hoped/feared, not a wave but a ripple. The Republican gain in the…

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MORTGAGE CREDIT NEWS BY LOUIS S BARNES- 11/2/2018

The bond market and Fed pay more attention to the monthly employment data than all other indicators put together because jobs and wages tend to determine inflation. These reports arrive on the first Friday of each month, today, and the strong results in this report have had strong effect. There are long stretches of time…

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MORTGAGE CREDIT NEWS BY LOUIS S BARNES- 10/26/18

MORTGAGE CREDIT NEWS BY LOUIS S. BARNES – Oct. 26, 2018 Oh, goody! The election is eleven days away, and chaos everywhere! Some news clarity follows below, as well as a little questionable news, possibly fake. The center of probability shifted overnight Thursday to Friday. Before, the stock slide and possible softness in housing seemed…

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES- 10/19/2018

We are entering a period of change, greater outside the US than inside, which creates temptation to prediction. Never, ever go that way — stick with describing change. Here, economically anyway, there is only one shift underway and it is misunderstood. The Fed is not going to raise the cost of money inevitably, continuously, or…

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES- 10/12/18

MORTGAGE CREDIT NEWS BY LOUIS S. BARNES – Oct. 12, 2018 At the end of a week like this it is important to stay in touch with our sense of humor.     Begin with the stock market’s little banana peel oops-a-daisy. Nothing funny about losing money, but the reaction of the market’s groupies is priceless. The…

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MORTGAGE CREDIT NEWS BY LOUIS S BARNES- 10/5/2018

MORTGAGE CREDIT NEWS BY LOUIS S. BARNES – Oct. 5, 2018 Mortgage rates since Wednesday have jumped, today pressing on 5.25% for lowest-fee loans… but, other than dazed lenders, nobody knows. “If a tree falls in the forest, and there is no one nearby to hear… will it make a sound?” In this case, silence.…

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES – 9/21/18

The move is very slow, and not yet a true “breakout,” but long-term rates have crept up to a new level and are poised for more, above 3.00% for the 10-year T-note and above 5.00% for lowest-fee mortgages. The immediate cause: a shift in the center of the Fed, now opposed to a pause next…

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES 9/14/18

This has been an odd week for news, especially today. Hence an unusual approach here. The big news for this readership is the beginning of a difficult interval for the Fed, and the bond market in early stages of destabilizing in anticipation. The 10-year T-note reached 3.00% this morning for the third time since February,…

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MORTGAGE CREDIT NEWS BY LOUIS S. BARNES 9-7-18

Interest rate risk has risen again. But before that, later resuming obedience to Clinton’s Law (“It’s the economy…”), the weekly political review and attempt to talk the anxious down from trees. Being president is tough, and most behave oddly from time to time. A few months after election as FDR’s VP, Harry Truman said about…

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