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September 7, 2008 at 4:13 PM #267673September 7, 2008 at 4:24 PM #267368LA_RenterParticipant
Here is the MSM take, this from the AP
http://biz.yahoo.com/ap/080907/mortgage_giants_consumer_impact.html
“By placing Fannie and Freddie into a conservatorship, the government is promising investors that the companies’ debt is as safe as the Treasury Department’s.
While not a cure-all, the bailout is still a step in the right direction, industry observers say. It will at least “keep the lanes in the mortgage freeway open,” said Greg McBride, a senior financial analyst at Bankrate.com, possibly putting the market on the road to recovery.
If mortgage rates fall, that will attract more potential buyers into the market, which, in turn, will help to prop up home prices, he said.
He expects mortgage rates on a conventional, 30-year fixed-rate home loan to fall over the next few weeks as the dust settles on the bailout. Rates, which now average 6.35 percent, could fall as much as half a percentage point, he said. But continued investor wariness and a depreciating housing market will keep rates from dropping further.
“We’re not looking at sunshine and daffodils in the housing market anytime soon,” he said.”
This will probably have a bigger impact in the middle part of the country. If you ask me California is still toast.
September 7, 2008 at 4:24 PM #267586LA_RenterParticipantHere is the MSM take, this from the AP
http://biz.yahoo.com/ap/080907/mortgage_giants_consumer_impact.html
“By placing Fannie and Freddie into a conservatorship, the government is promising investors that the companies’ debt is as safe as the Treasury Department’s.
While not a cure-all, the bailout is still a step in the right direction, industry observers say. It will at least “keep the lanes in the mortgage freeway open,” said Greg McBride, a senior financial analyst at Bankrate.com, possibly putting the market on the road to recovery.
If mortgage rates fall, that will attract more potential buyers into the market, which, in turn, will help to prop up home prices, he said.
He expects mortgage rates on a conventional, 30-year fixed-rate home loan to fall over the next few weeks as the dust settles on the bailout. Rates, which now average 6.35 percent, could fall as much as half a percentage point, he said. But continued investor wariness and a depreciating housing market will keep rates from dropping further.
“We’re not looking at sunshine and daffodils in the housing market anytime soon,” he said.”
This will probably have a bigger impact in the middle part of the country. If you ask me California is still toast.
September 7, 2008 at 4:24 PM #267600LA_RenterParticipantHere is the MSM take, this from the AP
http://biz.yahoo.com/ap/080907/mortgage_giants_consumer_impact.html
“By placing Fannie and Freddie into a conservatorship, the government is promising investors that the companies’ debt is as safe as the Treasury Department’s.
While not a cure-all, the bailout is still a step in the right direction, industry observers say. It will at least “keep the lanes in the mortgage freeway open,” said Greg McBride, a senior financial analyst at Bankrate.com, possibly putting the market on the road to recovery.
If mortgage rates fall, that will attract more potential buyers into the market, which, in turn, will help to prop up home prices, he said.
He expects mortgage rates on a conventional, 30-year fixed-rate home loan to fall over the next few weeks as the dust settles on the bailout. Rates, which now average 6.35 percent, could fall as much as half a percentage point, he said. But continued investor wariness and a depreciating housing market will keep rates from dropping further.
“We’re not looking at sunshine and daffodils in the housing market anytime soon,” he said.”
This will probably have a bigger impact in the middle part of the country. If you ask me California is still toast.
September 7, 2008 at 4:24 PM #267647LA_RenterParticipantHere is the MSM take, this from the AP
http://biz.yahoo.com/ap/080907/mortgage_giants_consumer_impact.html
“By placing Fannie and Freddie into a conservatorship, the government is promising investors that the companies’ debt is as safe as the Treasury Department’s.
While not a cure-all, the bailout is still a step in the right direction, industry observers say. It will at least “keep the lanes in the mortgage freeway open,” said Greg McBride, a senior financial analyst at Bankrate.com, possibly putting the market on the road to recovery.
If mortgage rates fall, that will attract more potential buyers into the market, which, in turn, will help to prop up home prices, he said.
He expects mortgage rates on a conventional, 30-year fixed-rate home loan to fall over the next few weeks as the dust settles on the bailout. Rates, which now average 6.35 percent, could fall as much as half a percentage point, he said. But continued investor wariness and a depreciating housing market will keep rates from dropping further.
“We’re not looking at sunshine and daffodils in the housing market anytime soon,” he said.”
This will probably have a bigger impact in the middle part of the country. If you ask me California is still toast.
September 7, 2008 at 4:24 PM #267678LA_RenterParticipantHere is the MSM take, this from the AP
http://biz.yahoo.com/ap/080907/mortgage_giants_consumer_impact.html
“By placing Fannie and Freddie into a conservatorship, the government is promising investors that the companies’ debt is as safe as the Treasury Department’s.
While not a cure-all, the bailout is still a step in the right direction, industry observers say. It will at least “keep the lanes in the mortgage freeway open,” said Greg McBride, a senior financial analyst at Bankrate.com, possibly putting the market on the road to recovery.
If mortgage rates fall, that will attract more potential buyers into the market, which, in turn, will help to prop up home prices, he said.
He expects mortgage rates on a conventional, 30-year fixed-rate home loan to fall over the next few weeks as the dust settles on the bailout. Rates, which now average 6.35 percent, could fall as much as half a percentage point, he said. But continued investor wariness and a depreciating housing market will keep rates from dropping further.
“We’re not looking at sunshine and daffodils in the housing market anytime soon,” he said.”
This will probably have a bigger impact in the middle part of the country. If you ask me California is still toast.
September 8, 2008 at 4:11 AM #267565Ex-SDParticipantBill Gross (from Pimco) has asserted that the feds needed to act for the greater good of the economy and the financial system, not just for the continued health of his Pimco Total Return bond fund, the world’s largest. The $130-billion-asset fund is up 3.5% this year, ranking it in the 96th percentile for performance among bond funds.
Gross said he believed that the Treasury’s rescue plan would go a long way toward improving sentiment in the financial and housing markets.
For the financial system, “The Category 4 hurricane has been downgraded to a tropical storm,” he said.
He predicts that mortgage rates will fall this week as the rates that Fannie and Freddie pay to borrow money begin to decline.
He also expects the stock market overall to rally Monday.
And Gross has revised his estimate of how much more of a decline is in store for home prices. He had been expecting average home prices nationwide to fall an additional 10% to 15%. With Fannie and Freddie preserved, he sees prices bottoming after a further decline of 5% to 10%.
But that isn’t his forecast for California, where market conditions are much worse and likely to stay that way, he said.
link to article: http://latimesblogs.latimes.com/money_co/2008/09/bill-gross-the.html
September 8, 2008 at 4:11 AM #267784Ex-SDParticipantBill Gross (from Pimco) has asserted that the feds needed to act for the greater good of the economy and the financial system, not just for the continued health of his Pimco Total Return bond fund, the world’s largest. The $130-billion-asset fund is up 3.5% this year, ranking it in the 96th percentile for performance among bond funds.
Gross said he believed that the Treasury’s rescue plan would go a long way toward improving sentiment in the financial and housing markets.
For the financial system, “The Category 4 hurricane has been downgraded to a tropical storm,” he said.
He predicts that mortgage rates will fall this week as the rates that Fannie and Freddie pay to borrow money begin to decline.
He also expects the stock market overall to rally Monday.
And Gross has revised his estimate of how much more of a decline is in store for home prices. He had been expecting average home prices nationwide to fall an additional 10% to 15%. With Fannie and Freddie preserved, he sees prices bottoming after a further decline of 5% to 10%.
But that isn’t his forecast for California, where market conditions are much worse and likely to stay that way, he said.
link to article: http://latimesblogs.latimes.com/money_co/2008/09/bill-gross-the.html
September 8, 2008 at 4:11 AM #267800Ex-SDParticipantBill Gross (from Pimco) has asserted that the feds needed to act for the greater good of the economy and the financial system, not just for the continued health of his Pimco Total Return bond fund, the world’s largest. The $130-billion-asset fund is up 3.5% this year, ranking it in the 96th percentile for performance among bond funds.
Gross said he believed that the Treasury’s rescue plan would go a long way toward improving sentiment in the financial and housing markets.
For the financial system, “The Category 4 hurricane has been downgraded to a tropical storm,” he said.
He predicts that mortgage rates will fall this week as the rates that Fannie and Freddie pay to borrow money begin to decline.
He also expects the stock market overall to rally Monday.
And Gross has revised his estimate of how much more of a decline is in store for home prices. He had been expecting average home prices nationwide to fall an additional 10% to 15%. With Fannie and Freddie preserved, he sees prices bottoming after a further decline of 5% to 10%.
But that isn’t his forecast for California, where market conditions are much worse and likely to stay that way, he said.
link to article: http://latimesblogs.latimes.com/money_co/2008/09/bill-gross-the.html
September 8, 2008 at 4:11 AM #267847Ex-SDParticipantBill Gross (from Pimco) has asserted that the feds needed to act for the greater good of the economy and the financial system, not just for the continued health of his Pimco Total Return bond fund, the world’s largest. The $130-billion-asset fund is up 3.5% this year, ranking it in the 96th percentile for performance among bond funds.
Gross said he believed that the Treasury’s rescue plan would go a long way toward improving sentiment in the financial and housing markets.
For the financial system, “The Category 4 hurricane has been downgraded to a tropical storm,” he said.
He predicts that mortgage rates will fall this week as the rates that Fannie and Freddie pay to borrow money begin to decline.
He also expects the stock market overall to rally Monday.
And Gross has revised his estimate of how much more of a decline is in store for home prices. He had been expecting average home prices nationwide to fall an additional 10% to 15%. With Fannie and Freddie preserved, he sees prices bottoming after a further decline of 5% to 10%.
But that isn’t his forecast for California, where market conditions are much worse and likely to stay that way, he said.
link to article: http://latimesblogs.latimes.com/money_co/2008/09/bill-gross-the.html
September 8, 2008 at 4:11 AM #267876Ex-SDParticipantBill Gross (from Pimco) has asserted that the feds needed to act for the greater good of the economy and the financial system, not just for the continued health of his Pimco Total Return bond fund, the world’s largest. The $130-billion-asset fund is up 3.5% this year, ranking it in the 96th percentile for performance among bond funds.
Gross said he believed that the Treasury’s rescue plan would go a long way toward improving sentiment in the financial and housing markets.
For the financial system, “The Category 4 hurricane has been downgraded to a tropical storm,” he said.
He predicts that mortgage rates will fall this week as the rates that Fannie and Freddie pay to borrow money begin to decline.
He also expects the stock market overall to rally Monday.
And Gross has revised his estimate of how much more of a decline is in store for home prices. He had been expecting average home prices nationwide to fall an additional 10% to 15%. With Fannie and Freddie preserved, he sees prices bottoming after a further decline of 5% to 10%.
But that isn’t his forecast for California, where market conditions are much worse and likely to stay that way, he said.
link to article: http://latimesblogs.latimes.com/money_co/2008/09/bill-gross-the.html
September 8, 2008 at 6:11 AM #267569ArrayaParticipantBill Gross has a pretty good idea of what is good for Bill Gross. But “opening up the balance sheet of the U.S. Treasury”, as he insists is needed, is not so good for those of us who are not Bill Gross.
His warnings are right on the money, very much so; his solutions are self-serving.
September 8, 2008 at 6:11 AM #267790ArrayaParticipantBill Gross has a pretty good idea of what is good for Bill Gross. But “opening up the balance sheet of the U.S. Treasury”, as he insists is needed, is not so good for those of us who are not Bill Gross.
His warnings are right on the money, very much so; his solutions are self-serving.
September 8, 2008 at 6:11 AM #267805ArrayaParticipantBill Gross has a pretty good idea of what is good for Bill Gross. But “opening up the balance sheet of the U.S. Treasury”, as he insists is needed, is not so good for those of us who are not Bill Gross.
His warnings are right on the money, very much so; his solutions are self-serving.
September 8, 2008 at 6:11 AM #267853ArrayaParticipantBill Gross has a pretty good idea of what is good for Bill Gross. But “opening up the balance sheet of the U.S. Treasury”, as he insists is needed, is not so good for those of us who are not Bill Gross.
His warnings are right on the money, very much so; his solutions are self-serving.
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