This was a volatile week for stocks and things are not looking very good. Everything seemed to be pointing down - except of course long term mortgage rates and oil prices. Both are on a gradual upward trend. The Dow is now down to September 2006 levels. With all this bad news, financial experts were all over T.V. trying to reassure nervous investors today. Here is a screen shot:
Source: Mish’s Global Economic Trend Analysis Blog
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on Jun 27th, 2008 at 4:58 pm
Shailesh - as long as we don’t get your headshot that looks like this any time soon, I will be fine. Nothing like a cool, calm and collected loan officer for my buyers.
on Jun 27th, 2008 at 9:20 pm
No kidding! We don’t panic over here…
on Jun 29th, 2008 at 11:53 am
We live in manufactured housing and we own the land. However, this 232 unit
developement was set up as a co-op, wherein we own one 232nd of the entire
place: i.e. golf course, pool, grounds etc. Because this is designated a “co-op”
we can not get a reverse mortgage from FHA. The new bill contains language
to correct this problem. Please, pass this bill and stop the usual partisan
bickering. We just want to be treated like everyone else who owns a home and
the land it sits on. The U.S. gives billions to every other nation on Earth, let’s not
fuss if our Government wants to help our citizens out for a change. Let’s get
real!
on Jun 30th, 2008 at 3:11 pm
Gary,
Good point. It’s kind of strange that the FHA classifies that as a Co-OP.