Personal Finance and Money Management

Quicken Loans Capital Markets Update for October 23, 2009

Treasuries are down this morning on more Fed Policy speculation that they leave be raising rates sooner than expected. In terms of economic news, the major release today will be the existing home sales figure. It is expected that home sales rose by almost 5% in September!

Have a great weekend and stay tuned in favor of next week’s updates on mortgage and economic news!

If you’ve been following the mortgage news lately, you might get the imprinting that it’s all but impossible to get anything but a standard these days. But while it’s trustworthy that many of the so-called “exotic” mortgages that were popular a few years ago have pretty much disappeared, consumers still have other options besides a “plain vanilla” type mortgage, including ARMs ( mortgages) and interest-only loans, to name a couple.

In fact, there’s still a considerable amount of activity in ARMs in particular, which currently make up about 10-15 percent of the current mortgage market, according to Bob Walters, chief economist for Quicken Loans.

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Home mortgage loan rates have possibly hit a bottom in the last few weeks and current sit at 4.86%. Mortgage interest rates are still below 5% but the 4.82% level has held as support for the last few days and it looks like the 10 year treasury rate yield has found support as well. If the 10 year yield finds support and the Fed sticks to its plan to stop buying US Treasuries by the end of October we can almost guarantee that mortgage rates will move up.

Please vote on the First Time Home Buyers Tax Credit Extension here at Subprime Blogger.  First Time Home Buyers Tax Credit Extension Poll.

With this being the case if you have been considering that first time home purchase or refinancing your existing home now is as good of a time as ever.

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Quicken Loans Capital Markets Update for October 5, 2009

This week’s economic calendar is not as full as last week’s, but will be kicked off with the release of the ISM non-manufacturing index this morning. The ISM is expected to increase by 1.6 month over month — adding to the gain already seen for the month of September.

Any interpretation very 50 is a signal of expansion in the sector, while any reading under 50 is an indication of contraction.

Treasuries are little change this morning in front of the $78 billion in treasury auctions scheduled for this week. The e

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