Seattle Mortgage Reel – Analyzing the mortgage market
Article by Seattle real estate reel & mortgage reel
To view the complete post:
http://www.themortgagereel.com/seattle-mortgage-reel-weekly-recap-april-3-2009-2/the video will be hosted shortly via youtube.com
April Fools, the Depression is over! Of course it is! We were/are (debatable) in a severe recession. With the passing of the modification to the Mark to Market accounting rule the financial sector finds a much needed boost in confidence. Interestingly enough less than three weeks ago one of the largest banks in the United States was pleading it would need another 0 billion to stabilize itself. On the heels of the modification adjustment the same banks make a public statement that they would like to return the once needed T.A.R.P. funds, then announcing to the public that it would begin to offer Portfolio (held and serviced by the bank) Jumbo loans. AMAZING? Not so much. For over a year there has been a heated debate that the Mark to Market accounting rule needed to be addressed. Now that it has been done many analysts are calling it the possible turn in the economy and to go as far as saying that it will go down in history as the turning point in the economy. With all of this said and done how did it impact lending and rates. UP OR DOWN?ŅŅŅ