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KNX Business Hour 01.05.2009
Stocks pull back on the second trading day of the new year on new concerns about the economy. After a triple digit run up Friday, the Dow closes down 82 points. Car companies report dismal December sales. President elect Obama says the economy is bad and
[0:10:39] ... SEC not only with triggered debate off but also with regard to mortgage backed securities. -- show that we need aid is much stronger SEC whether we repackage it under the new name. We do ...
[0:12:54] ... yes I PC come before us. And whenever you go to a broker's office you'd see that little details saying you know you're protected by the yes side PC. The problem is rate now obviously ...
1/3/09: Mortgage Rates
Rick talks about Mortgage Rates. 1/3/09
[0:00:39] ... affected real estate in general. Not as much as -- and the mortgage industry. In particular. The act these actions the pumping of money -- point all the particulars of why but the pumping money ...
[0:01:50] ... expected what's happened in the real estate. Industry in general and the mortgage industry anything at any industry which is touched by the real estate industry that's a cup as a very wide swath certainly a mortgage industries is. It's not -- Tied the hip if you will or or are. Connected it they. To the real estate industry and because. Properties have been so slow moving in interest rates are going up. So they want -- a lot of -- finances and when we're analog properties being sold. Relative to go past. 510 years. The mortgage industry in mortgage -- total loss -- lot of mortgage companies closed but the mortgage companies who have stayed healthy and or the mortgage department of banks. Have had a -- a lot of people off unfortunately. Well what happened in the last couple weeks when ...
[0:03:15] ... back refinancing so who's this rush to refinance and all them and mortgage companies in and -- departments of banks. Couldn't -- and they had. -- also many people they just couldn't in the number application that union so what has happened in the past couple weeks is that a lot of mortgage companies and -- the industry in general has changed the -- would last. Few days but it seems to be that rates are going back down because I think -- doing when Italians at what happened analyst. The more mortgage industry artificially raise rates they raise their rates as much as three quarters to -- points -- a lot of cases where a week before interest rates thirty year fixed -- 55 quarterly have you -- rates -- 66 -- quarter even size six and -- for some cases higher again depending on your situation because the the the mortgage companies and banks couldn't handle one example he was Bank of America. Was averaging. About 30000. Loan application most of those being ...
[0:04:37] ... edged sword on the one point in time anybody connected to the mortgage industry that anybody. In general should be happy that. The mortgage industries picking back up because that may mean that the real estate industry in general -- back up -- real estate industry expect it to our economy picked back. Again mortgage companies because -- that people like him they artificially raise interest rates well. The question is -- For those of you who ...
[0:06:01] ... the afternoon that's the way the more the realist that you the mortgage market worked name may sound a little bit insane and probably is but that's the way it worked self. What do you do if you missed the low rates but I'm I'm. Making predictions based on talking to a lot of mortgage brokers repeat this again this is really temporary because now. What is happening is the mortgage industry mortgage companies are re hiring that. Staff and this is a case where. -- the learning curve is that are very -- usually. Mortgage companies and banks are hesitant to hire staff unless there. They know that things -- gonna stay. Much busier. Because there is ...
[0:07:03] ... Do whatever has to be done in the processing. Phase of of mortgage and it just aren't those people and basically go back there there'll job and and hit the ground running with weaker so so. I think you gonna see once the mortgage industry and the mortgage departments of banks and and hire back people which it shouldn't take that long legacy rates going back. In the meantime what ...
[0:07:46] ... to wave blender or whomever you decide he's he's easier. Best a mortgage and mortgage and leverage your best bet somebody that you Ross. And you -- and give you a mortgage. Refinance free approval letter not a pre qualification. And three approval which basically says he says you we guarantee that we will keep you this rate. With the only caveat being it's subject to a satisfactory home -- which is going to be caveat. Subject to any and mortgage. -- number to calculate what. Interest -- Would be best for you what's the highest -- street you can go down to ...
[0:08:45] ... down to a five point 5% interest rate that you let the mortgage -- now and you tell them that as soon as the interest rates hit five point 5%. They should block inaugurate. And they don't call you to do so because again. Is I know many situations where mortgage brokers at a rate that they knew that the to to a prospective client of this would lock in that at say five or five -- they called the person in the morning and the person was busy work and they got back to in the afternoon and by the time they got back to rates are going up the -- point 75%. That you give the mortgage broker in writing best. In writing give them. Permission to locking your rate is -- gets to and you pick the number V ...
01/01/09 Marketplace
Euro's looking good on its 10th birthday; Many workers see minimum-wage hike; What's deflation all about?; Looking back at 2008's housing crisis; Update: Recovering from foreclosure; Downturn could lead to baby bust; Sharing tales of money woes and wins
[0:02:02] ... day and it didn't stop he didn't get it down well. Money broker Howard wheeled and says that traders called the Euro a toilet currency and don't it fast. Within two years it at -- ...
[0:09:37] ... So the sub prime mortgage story really started at the beginning of the year last year and rolled into this one but all what was the housing ...
[0:13:40] ... last heard from the quickens they were struggling to make their monthly mortgage payments they had an adjustable rate mortgage that led them into bankruptcy proceedings. ...
Liberty Conspiracy - Year End Special!
Combining current stories with an overview of some of the most blatant media bias of 2008, Gardner Goldsmith hits the government backers with intellectual firepower and wit. Check out the latest on free market thinking, from El G Grande, at www.libertyconspiracy.com, and look for Gard's controversial new book, "Live Free or Die" at amazon.com and borders.com!
[0:18:16] ... animated. A man transformed. And what about the idea of the honest broker who goes to the two candidates. And helps push one or the other of them kind of modern the second boss tweed. ...
[0:31:41] ... April 2001 the only two budget request declares that the size of mortgage giants Fannie Mae and Freddie Mac its -- potential problem. Because financial trouble and either one of them could quote cause strong ...
[0:33:48] ... regulation. We increase the possibility of insolvency and crisis. But the two mortgage -- to its staunch defenders democratic senator Charles Schumer said quote. I think Fannie and Freddie over the years have done an ...
The Dave Ramsey Show Podcast - Wed, 31 Dec 2008 23:59:00 -0500
The Dave Ramsey Show is about life and how it happens to revolve around money. Dave Ramsey teaches you to manage and budget your money to avoid bankruptcy, help yourself get out of debt, build wealth, and live in financial peace without debt consolidation. Managing your money properly will reduce stress, improve your marriage, and provide security for you and your family.
[0:00:22] ... Hey I'll hold mortgage has taken a -- of I am Dave Ramsey poston this is the best in talk radio. Service oriented talk radio talk ...
[0:01:23] ... the exception of good old Kelly. And Sally may end up our mortgage. And that we're totally committed you're planning and basically eating -- try to break and being cool and I just let them ...
[0:15:20] ... in this case it's just that you took on a really stupid mortgage called an adjustable rate mortgage. -- got some bad advice. Sure to tune into the Dave Ramsey show every week night on the fox business network we're ...
[0:17:47] ... your customers that's what I recommend people uses what's called an insurance broker or an Independent agent. For stuff like property and casualty force stuff like health insurance then those kinds of things. You need ...
[0:21:18] ... you to have money left over the pace down on your first mortgage. Okay. Okay problem is yes. There is no magic software. The software is there but it's not magic. ...
[0:21:31] ... 4000 dollars -- want to pay a thousand dollars down on your mortgage you have to live iPhone three. You have to reduce your dad -- spending and you knew that up in somebody 3500 ...
[0:35:10] ... pathetic part thanks and EU and right now we just can't form mortgage. We'll -- money in the -- I don't. It was unfortunate. Accident which took a little block the bar for like safari ...
[0:36:15] ... I don't know if I give -- he cares about pay off mortgage and I would invest the rest you know leave it to the kids if you guys don't need it later. But invested ...