Posts Tagged ‘Ben Bernanke’

60 Minutes Interview with Fed Chairman Ben Bernanke…its first in history

March 16th, 2009

Mortgage markets lost a little bit of ground last week, edging mortgage rates higher in a week marked by the largest stock market gains since November.  Once again, mortgage rates couldn’t sustain a rally of more than 5 days.  Not since late-2008 have mortgage rates managed to fall two weeks in a row.  Last week’s market was impacted by three distinct factors:

  1. Bank balance sheets weren’t as bad as feared
  2. Discussion started on new bank valuation methods
  3. Traders got optimistic that “the worst is over”

The rally will likely continue into this week, too.  This after the 60 Minutes interview with Ben Bernanke in which the Fed Chief said he won’t let big banks fail and that the recovery will likely begin later this year.  It’s the first interview with a sitting Federal Reserve Chairman in history….

To watch this video, please visit:

http://www.loanapproval411.com/info_01/page_1.rad

 

Sincerely and respectfully,

Daniel A. Sosa

PMZ Mortgage Consultant

Office: 209-472-2010 x4716

Cell: 209-298-8017

Email: dsosa@pmzloans.com

Website: www.loanapproval411.com

  • Share/Bookmark

Mortgage Markets in Review: March 2, 2009

March 3rd, 2009

Mortgage markets worsened last week, taking interest rates with them.  A steady drip of sour economic news plus concerns about the banking system outmuscled Fed Chairman Ben Bernanke’s Congressional testimony in which he said the recession would likely end later this year.  Overall, mortgage rates have risen in 9 of the last 12 trading days.  This week, it’s unclear in what direction mortgage rates will go. However, it won’t be because of a lack of action…

 

To read the rest of my mortgage industry blog, visit:

 

http://www.loanapproval411.com/info_01/page_1.rad

 

Sincerely and respectfully,

 

Daniel A. Sosa

PMZ Mortgage Consultant

Office: 209-472-2010 x4716

Cell: 209-298-8017

Email: dsosa@pmzloans.com

  • Share/Bookmark