Conforming limit to $700,000?

[DWCAP]

Ok, so I gotta say this kinda pisses me off. You have Yun and his henchmen effectivly bribing the government to raise government risk inorder to put a floor under over inflated prices. If it wasnt an election year, this wouldnt be going on. But people are scared and there is no better way for a pol to get reelected then to calm the fears of people. Look at Gulliani (sp?).

Is there any way to fight this kinda stuff? Other than vote for RP or write some letter to a staffer in B.Boxers office thatll get ignored? A counter NAR that lobbies for fiscal responsibility? Or is this all election year BS thatll be ignored as soon as the election is over, like New Orleans rebuilding? Just curious.

[LA_Renter]

This was just posted at Calculated Risk….Beware of unintended consequences LOL

“Traders: Don’t Put Jumbos in my TBAs
This probably wasn’t what Congress had in mind, ya think?

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan.”

http://calculatedrisk.blogspot.com/2008/01/traders-dont-put-jumbos-in-my-tbas.html

[LA_Renter]

This was just posted at Calculated Risk….Beware of unintended consequences LOL

“Traders: Don’t Put Jumbos in my TBAs
This probably wasn’t what Congress had in mind, ya think?

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan.”

http://calculatedrisk.blogspot.com/2008/01/traders-dont-put-jumbos-in-my-tbas.html

[LA_Renter]

This was just posted at Calculated Risk….Beware of unintended consequences LOL

“Traders: Don’t Put Jumbos in my TBAs
This probably wasn’t what Congress had in mind, ya think?

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan.”

http://calculatedrisk.blogspot.com/2008/01/traders-dont-put-jumbos-in-my-tbas.html

[LA_Renter]

This was just posted at Calculated Risk….Beware of unintended consequences LOL

“Traders: Don’t Put Jumbos in my TBAs
This probably wasn’t what Congress had in mind, ya think?

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan.”

http://calculatedrisk.blogspot.com/2008/01/traders-dont-put-jumbos-in-my-tbas.html

[LA_Renter]

This was just posted at Calculated Risk….Beware of unintended consequences LOL

“Traders: Don’t Put Jumbos in my TBAs
This probably wasn’t what Congress had in mind, ya think?

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan.”

http://calculatedrisk.blogspot.com/2008/01/traders-dont-put-jumbos-in-my-tbas.html

[patientlywaiting]

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan."

Very true.  That is however down the road.  

Immediately, the mortgage rates will go lower and the banks will be provided a wider profit margin.  That will most benefit people who are financially secure (by allowing them to buy more for their money)… and keep alive the people teethering on the verge of bankruptcy.  The hopeless ones are hopeless anyway. 

However, we may be setting up the economy, and the housing market for a harder fall in a future.  

The dollar will be weaker and foreign investment will flee to Europe for higher interest rates.  But then again US assets will be cheap thereby attracting more foreign investments.  It's a juggling act.  Let's hope that the gov't doesn't overplay its cards.  Otherwise we might have 1980s level mortgage rates.

 

[patientlywaiting]

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan."

Very true.  That is however down the road.  

Immediately, the mortgage rates will go lower and the banks will be provided a wider profit margin.  That will most benefit people who are financially secure (by allowing them to buy more for their money)… and keep alive the people teethering on the verge of bankruptcy.  The hopeless ones are hopeless anyway. 

However, we may be setting up the economy, and the housing market for a harder fall in a future.  

The dollar will be weaker and foreign investment will flee to Europe for higher interest rates.  But then again US assets will be cheap thereby attracting more foreign investments.  It's a juggling act.  Let's hope that the gov't doesn't overplay its cards.  Otherwise we might have 1980s level mortgage rates.

 

[patientlywaiting]

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan."

Very true.  That is however down the road.  

Immediately, the mortgage rates will go lower and the banks will be provided a wider profit margin.  That will most benefit people who are financially secure (by allowing them to buy more for their money)… and keep alive the people teethering on the verge of bankruptcy.  The hopeless ones are hopeless anyway. 

However, we may be setting up the economy, and the housing market for a harder fall in a future.  

The dollar will be weaker and foreign investment will flee to Europe for higher interest rates.  But then again US assets will be cheap thereby attracting more foreign investments.  It's a juggling act.  Let's hope that the gov't doesn't overplay its cards.  Otherwise we might have 1980s level mortgage rates.

 

[patientlywaiting]

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan."

Very true.  That is however down the road.  

Immediately, the mortgage rates will go lower and the banks will be provided a wider profit margin.  That will most benefit people who are financially secure (by allowing them to buy more for their money)… and keep alive the people teethering on the verge of bankruptcy.  The hopeless ones are hopeless anyway. 

However, we may be setting up the economy, and the housing market for a harder fall in a future.  

The dollar will be weaker and foreign investment will flee to Europe for higher interest rates.  But then again US assets will be cheap thereby attracting more foreign investments.  It's a juggling act.  Let's hope that the gov't doesn't overplay its cards.  Otherwise we might have 1980s level mortgage rates.

 

[patientlywaiting]

NEW YORK (Reuters) – A key element of the stimulus package aimed at jump-starting the ailing U.S. housing market may have the unintended consequence of raising mortgage rates, said analysts studying the plan."

Very true.  That is however down the road.  

Immediately, the mortgage rates will go lower and the banks will be provided a wider profit margin.  That will most benefit people who are financially secure (by allowing them to buy more for their money)… and keep alive the people teethering on the verge of bankruptcy.  The hopeless ones are hopeless anyway. 

However, we may be setting up the economy, and the housing market for a harder fall in a future.  

The dollar will be weaker and foreign investment will flee to Europe for higher interest rates.  But then again US assets will be cheap thereby attracting more foreign investments.  It's a juggling act.  Let's hope that the gov't doesn't overplay its cards.  Otherwise we might have 1980s level mortgage rates.

 

[LA_Renter]

“Very true. That is however down the road.”

I don’t know about that, this looks like it is happening right out of the gate.

“Potential damage to the “to-be-delivered” (TBA) market — the most actively traded agency mortgage market where investors can buy bonds before they are actually created — prompted Wall Street dealers to call a special meeting with the Securities Industry and Financial Markets Association at 3:30 p.m. Friday, market sources said. A SIFMA spokeswoman would only say the group is in ongoing discussions with its members.

“The amount of money that investors are willing to pay for agency mortgages (bonds) could be lower if these loans are TBA deliverable and so mortgage spreads could widen,” said Ajay Rajadhyaksha, co-head of U.S. fixed income strategy at Barclays Capital in New York, who will listen to the SIFMA meeting by phone.’

Hmmm….maybe somebody should have asked the traders what they thought of this first, don’t you think! This is really cracking me up.

[LA_Renter]

“Very true. That is however down the road.”

I don’t know about that, this looks like it is happening right out of the gate.

“Potential damage to the “to-be-delivered” (TBA) market — the most actively traded agency mortgage market where investors can buy bonds before they are actually created — prompted Wall Street dealers to call a special meeting with the Securities Industry and Financial Markets Association at 3:30 p.m. Friday, market sources said. A SIFMA spokeswoman would only say the group is in ongoing discussions with its members.

“The amount of money that investors are willing to pay for agency mortgages (bonds) could be lower if these loans are TBA deliverable and so mortgage spreads could widen,” said Ajay Rajadhyaksha, co-head of U.S. fixed income strategy at Barclays Capital in New York, who will listen to the SIFMA meeting by phone.’

Hmmm….maybe somebody should have asked the traders what they thought of this first, don’t you think! This is really cracking me up.

[LA_Renter]

“Very true. That is however down the road.”

I don’t know about that, this looks like it is happening right out of the gate.

“Potential damage to the “to-be-delivered” (TBA) market — the most actively traded agency mortgage market where investors can buy bonds before they are actually created — prompted Wall Street dealers to call a special meeting with the Securities Industry and Financial Markets Association at 3:30 p.m. Friday, market sources said. A SIFMA spokeswoman would only say the group is in ongoing discussions with its members.

“The amount of money that investors are willing to pay for agency mortgages (bonds) could be lower if these loans are TBA deliverable and so mortgage spreads could widen,” said Ajay Rajadhyaksha, co-head of U.S. fixed income strategy at Barclays Capital in New York, who will listen to the SIFMA meeting by phone.’

Hmmm….maybe somebody should have asked the traders what they thought of this first, don’t you think! This is really cracking me up.

[LA_Renter]

“Very true. That is however down the road.”

I don’t know about that, this looks like it is happening right out of the gate.

“Potential damage to the “to-be-delivered” (TBA) market — the most actively traded agency mortgage market where investors can buy bonds before they are actually created — prompted Wall Street dealers to call a special meeting with the Securities Industry and Financial Markets Association at 3:30 p.m. Friday, market sources said. A SIFMA spokeswoman would only say the group is in ongoing discussions with its members.

“The amount of money that investors are willing to pay for agency mortgages (bonds) could be lower if these loans are TBA deliverable and so mortgage spreads could widen,” said Ajay Rajadhyaksha, co-head of U.S. fixed income strategy at Barclays Capital in New York, who will listen to the SIFMA meeting by phone.’

Hmmm….maybe somebody should have asked the traders what they thought of this first, don’t you think! This is really cracking me up.

[Author]

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