Category Credit crisis

Mish’s Global Economic Trend Analysis on the Fed lowering rates and opening the discount window. A well respected source whose opinion I respect offered this viewpoint anonymously: “Basically this is a PR move coordinated by Fed to hide the fact…

Countrywide just got $11.2 billion in emergency funding while a major German bank has ben bailed out with 17.3 billion euros. So, if everything is so contained, why are major corporations getting bailed out as the Fed does emergency unscheduled…

For many mortgages, property tax and insurance is escrowed and is part of the monthly payment. This protects the lender and insures everything gets paid on time. It also helps the homeowner judge what the monthly payments will be. Guess…

From the book A Black Swan is a highly improbable event with three principal characteristics: it is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random and more predictable…

A jumbo mortgage is required for any amount above $417,000. Most any home in one of the real estate bubble areas would need a jumbo. Interest rates on jumbos have just gone psychotic. Why? Because no one wants the risk…