fed rate cuts....

[djunkie]

Thats my choice

I don't really weant to be 40 when we head down that path. 32 is creeping up on me and I would like 1-2 little ones.

I hear ya. I hit 32 in May.

Old farts!!!!!!:smackhead:smackhead
________
Toyota Celica History

 

[shippingguy]

Old farts!!!!!!:smackhead:smackhead

 

[shippingguy]

Old farts!!!!!!:smackhead:smackhead

Don't be jealous becuase we have been out of mom and dad's house for a while now

 

[Cole Trickle]

We may be a tad older but we still have our hair:beer

 

[Cole Trickle]

2 kids are overrated. I'd go with 1 1/2. :lmao:lmao

your gonna have a midget for typing that:skull

 

[djunkie]

Don't be jealous becuase we have been out of mom and dad's house for a while now

We may be a tad older but we still have our hair:beer

Tough crowd. If I could have bought a nice house in my area for what you guys probably paid for yours I would have been out a long time ago. And easy on the hair thing Tricklestein. I might bring the clippers and shave yours off next weekend when you pass out drunk. :lmao:lmao
________
The yazidi branch of yazdanism forum

 

[djunkie]

your gonna have a midget for typing that:skull

Shit.......I'm 6' 2" and Christina is like 5'10". We ain't having no short kids.
________
Teen vid

 

[shippingguy]

Tough crowd. If I could have bought a nice house in my area for what you guys probably paid for yours I would have been out a long time ago. And easy on the hair thing Tricklestein. I might bring the clippers and shave yours off next weekend when you pass out drunk. :lmao:lmao

I hear ya there. That is why it took me longer and I moved to Murrieta.

 

[Cole Trickle]

Tough crowd. If I could have bought a nice house in my area for what you guys probably paid for yours I would have been out a long time ago. And easy on the hair thing Tricklestein. I might bring the clippers and shave yours off next weekend when you pass out drunk. :lmao:lmao

You do know you could have rebnted an apartment with 2 other slobs before buying a house right?:skull

I paid 540K for my 400K house so you can't use that excuse...lol:swear

I don't really care about the hair. Jen would probably give you a beating since she won't let me shave it:hmm

 

[Cole Trickle]

Shit.......I'm 6' 2" and Christina is like 5'10". We ain't having no short kids.

don't use the word aint It's a break down in the genetic code that gets you a shorty. Has nothing to do with parents height.

Your probably right though....your gonna end up with a daughter that is 7' and weights 105 lbs

 

[djunkie]

You do know you could have rebnted an apartment with 2 other slobs before buying a house right?:skull

I paid 540K for my 400K house so you can't use that excuse...lol:swear

I don't really care about the hair. Jen would probably give you a beating since she won't let me shave it:hmm

Rented with my friends? F-that. I had it made at home. Rent was cheap, I always had clean clothes and a clean room. Always had good home cooked meals for dinner. And I had just as much freedom as if I were on my own anyways. Shit I think I'm gonna move back. :skull:skull
________
400

 

[Cole Trickle]

I hear ya there. That is why it took me longer and I moved to Murrieta.

I thought the team bus broke down on the way back from san diego and thats where you ended up?

I have always been curious...Did you walk away from baseball because of an injury or did you just get sick of the farm system?

 

[shippingguy]

Rented with my friends? F-that. I had it made at home. Rent was cheap, I always had clean clothes and a clean room. Always had good home cooked meals for dinner. And I had just as much freedom as if I were on my own anyways. Shit I think I'm gonna move back. :skull:skull

Sometimes I wish I could turn back time.

 

[Cole Trickle]

Rented with my friends? F-that. I had it made at home. Rent was cheap, I always had clean clothes and a clean room. Always had good home cooked meals for dinner. And I had just as much freedom as if I were on my own anyways. Shit I think I'm gonna move back. :skull:skull

your a lucky man

I was raised in a broken home by my dad and raised on hungry man frozen dinners. I thought all plates had dividers up until I was 20...lol:swear

If you lived with him you would have boned out early too

 

[Cole Trickle]

Sometimes I wish I could turn back time.

You could swing the new 32' if you and the wifey moved back in with the parents

Not to mention free onsite child care:skull:beer:hmm

 

[shippingguy]

You could swing the new 32' if you and the wifey moved back in with the parents

Not to mention free onsite child care:skull:beer:hmm

Yeah too big. If I was to get something different I would want nothing more than a 29. Nice thing with the childcare is that both my parents will be retiring out at the river so we got it covered while we are on the water.:beer

 

[WYRD]

Shit.......I'm 6' 2" and Christina is like 5'10". We ain't having no short kids.

yea but I heard hootersled has been hanging around the house alot lately:skull

 

[djunkie]

yea but I heard hootersled has been hanging around the house alot lately:skull

Ya, like a good beaner he's been doing my yard work for me. :lmao:lmao
________
LENDERS MORTGAGE INSURANCE DICUSSION

 

[Cole Trickle]

yea but I heard hootersled has been hanging around the house alot lately:skull

I heard he has been carpooling with Mel:smackhead

 

[EmpirE231]

Shit got funny and off topic in here quick.

looks like I'm pretty much in the same boat as cole trickle.... debating on paying the loan down to lock in that nice fixed 30 yr rate on one loan.... but then it beats up the savings....

I got til 2011... maybe everything will be ok by then??? here's to another 150k spike in home values, and 4.5 % interest rates in 2011 :beer

 

[Wmc]

your a lucky man

I was raised in a broken home by my dad and raised on hungry man frozen dinners. I thought all plates had dividers up until I was 20...lol:swear

If you lived with him you would have boned out early too

Your dad did his best. Come over we have hungry man pot pies without dividers for you LOL!!!

By the way Senate & Bush signed the Stimulus package. We spoke with our Fanniemae rep and they should roll out the loan limits by end of March early April.

 

[Cole Trickle]

Your dad did his best. Come over we have hungry man pot pies without dividers for you LOL!!!

By the way Senate & Bush signed the Stimulus package. We spoke with our Fanniemae rep and they should roll out the loan limits by end of March early April.

On Birthdays and Xmas we were spolied with Marie Calendar Pot Pies

On a serious note it has taken me several years to be able to mix my food. I would start off a meal by eating all of the carrots then the beans then the meat. I never switched it up until Jen started giving me crap years back.

I need a 120% 5.25% stated for 30 years...lol:beer

Sending you a pm right now.

 

[PolarBearKing]

Great time to buy!!!

Hell ya, cashed out in '04. Been waiting patiently, looks like it is almost time to pull the trigger.

Speculation that they will cut rates another ¾ before their next meeting in March

More good news.

or for people looking to buy into the vacation home market...:hmm

On that too. :beer

 

[sorry dog]

Speculation that they will cut rates another ¾ before their next meeting in March

I doubt that much...if any at all. Main reason why I think so is the Euro bank chose not to cut their rate. If we cut ours more then it puts pressure on currency exchanges. The Fed is not all powerful.

Double digit rates in the seventies are proof of that.

 

[essexjet]

WASHINGTON (Reuters) - President George W. Bush on Wednesday signed into law an economic stimulus package that is aimed at staving off a recession by offering tax rebates and incentives to businesses to invest.

* The House package includes raising the limits on "conforming mortgages" financed by Fannie Mae and Freddie Mac to $729,750 from the current cap of $417,000 through December 31. It would also indefinitely raise the limit on Federal Housing Administration-backed mortgages to that same level from $362,790. Such a move is expected to lower the interest rates on those high-cost loans.

Should know more tomorrow of when this goes into effect.

 

[djunkie]

WASHINGTON (Reuters) - President George W. Bush on Wednesday signed into law an economic stimulus package that is aimed at staving off a recession by offering tax rebates and incentives to businesses to invest.

* The House package includes raising the limits on "conforming mortgages" financed by Fannie Mae and Freddie Mac to $729,750 from the current cap of $417,000 through December 31. It would also indefinitely raise the limit on Federal Housing Administration-backed mortgages to that same level from $362,790. Such a move is expected to lower the interest rates on those high-cost loans.

Should know more tomorrow of when this goes into effect.

refi here I come!!!!!!!!!!
________
Toyota ts010 specifications

 

[ChumpChange]

fyi:

The fed fund futures are now 100% confident that the rate will be dropped another 0.50% on or before the next meeting.

There is a 20% chance of the drop being 0.75%

Low rates on Home Equity and construction loans here we come.

 

[essexjet]

fyi:

The fed fund futures are now 100% confident that the rate will be dropped another 0.50% on or before the next meeting.

There is a 20% chance of the drop being 0.75%

Low rates on Home Equity and construction loans here we come.

At this rate, home equity lines of credit will be lower then 1st mortgages

 

[ChumpChange]

At this rate, home equity lines of credit will be lower then 1st mortgages

It's about time we get out of the inverted yield curve and short term is cheaper than long term.

 

[essexjet]

Still do not know when the increases will take place. Here is a statement from Fannie Mae:





Statement by Amy Bonitatibus, Senior Manager, Communications

February 13, 2008

The temporary increase in the GSE loan limit that President Bush signed into law today will help bring stability, liquidity and affordability to an important part of the housing finance system. Fannie Mae welcomes this opportunity to help support the housing market in high-cost areas, and we are working with our regulators and our lender partners to implement the change as quickly as possible.


So whatever "quickly as possible" means :smackhead

 

[68Schiada]

So....if the feds lower the rate another .5% in March, will this affect the mortgage loan rates, or just the heloc's and auto stuff??, what are bonds and unemployment looking like for march??

im pulling for the .75% cut, but doubt it. im looking to refinance also...but im currently at 6%. So im hoping i can get 5%....or better,.........what are everyones thoughts about another .5% cut.....????

 

[Wmc]

As it states, the package requires HUD to publish revised median house prices in order to determine the maximum loan amounts in specific areas. HUD is saying they will publish the prices and limits within the next two weeks. Only then will we know exactly what the new loan limits will be in our marketplace. Approximately 30 days and we, the lenders, should see the new loan limits.

 

[68Schiada]

By MARTIN CRUTSINGER, AP Economics Writer 48 minutes ago
WASHINGTON - Using words like "sluggish" and "deteriorated," Federal Reserve Chairman Ben Bernanke gave a starkly pessimistic assessment of the nation's economy on Thursday and signaled that the Fed will cut interest rate cuts further if needed to combat the adverse effects of a prolonged housing slump and a severe credit crisis.
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Both Bernanke and Treasury Secretary Henry Paulson told a congressional hearing that the economy could still avert a full-blown recession, but Democrats said they believed the government should be doing much more to help millions of Americans cope with a threatened tidal wave of mortgage foreclosures.
Bernanke told the Senate Banking Committee the serious housing slump and a credit crisis triggered by rising defaults in subprime mortgages had greatly strained the economy.
"The outlook for the economy has worsened in recent months and the downside risks to growth have increased," Bernanke told the committee. "To date, the largest economic effects of the financial turmoil appear to have been on the housing market, which, as you know, has deteriorated significantly over the past two years or so."
Bernanke noted that hiring has slowed with job creation falling by 17,000 in January, the first such setback in more than four years. He said the weaker labor market along with recent declines in stock prices and declining home prices were likely to be a drag on consumer confidence going forward.
The Fed chief told senators the "virtual shutdown" of the market for subprime mortgages given to people with blemished credit histories or low incomes — and a reluctance by skittish lenders to make "jumbo" home loans exceeding $417,000 — have aggravated problems in the housing market. "Further cuts in homebuilding and in related activities are likely," he said.
Bernanke said that in his own economic forecast he did not predict a recession but a period of sluggish growth "followed by a somewhat stronger pace of growth starting later this year" as the impacts of the Fed's rate cuts and the $168 billion economic stimulus package of tax rebates begin to be felt.
However, he also said there were significant downside risks ranging from the threat that the housing slide could become even more severe, the job market could deteriorate more than currently expected or that the credit squeeze will intensify. He said the Fed would be monitoring the economy closely and would "act in a timely manner as needed to support growth and provide adequate insurance against downside risks."
On Wall Street, Bernanke's comments pushed stocks lower. The Dow Jones industrials closed down 175.26 points at 12,376.98.
Private economists said they viewed Bernanke's sober assessment as a clear signal that the Fed, which cut interest rates by 1.25 percentage points in two moves in January, is prepared to cut rates further.
Brian Bethune, an economist at the private forecasting firm Global Insight, said he looked for bold half-point cuts at the Fed's next two regular meetings on March 18 and April 30. He said that what came out "loud and clear" from Bernanke's testimony was an increased concern about the stresses to the financial system from the credit crisis.
While saying that housing represented the greatest threat to the economy, Paulson, who testified along with Bernanke and Christopher Cox, chairman of the Securities and Exchange Commission, said he did not believe the economy would fall into a recession. He said the administration was working now to make ensure the government checks ranging from $300 to $1,200 were sent out without delay starting in May.
That stimulus package, which Congress passed last week, is expected to give the economy a sizable jolt in the second half of this year although many economists believe it will be too late to keep the economy from recording two consecutive quarters of negative economic output, the classic definition of a recession.
Pressed to say what more the administration plans to do, especially in dealing with a threatened wave of mortgage foreclosures, Paulson said he continued to look for good ideas but at the moment did not see the need to do any more than such current efforts as encouraging the mortgage industry to freeze rates on some subprime mortgages for five years and offering a 30-day reprieve on foreclosures for homeowners seriously behind on their payments to give them time to try to work out a loan modification with their lenders.
But a group of Senate Democrats said those efforts fell far short of what is needed. They announced outside of the hearing that they were introducing a second stimulus measure that would have a variety of initiatives to help stem foreclosures including providing $4 billion in new community development grants to purchase and rehabilitate foreclosed properties.
"If we really want to tackle the economic problems the country is facing, we must address the housing crisis that got us here," said Sen. Charles Schumer, D-N.Y., a supporter of the new stimulus measures.
Senate Banking Committee Chairman Chris Dodd, D-Conn., told reporters after the hearing that he planned to explore a proposal to create a Homeownership Preservation Corp. that would buy mortgages at steep discounts from mortgage firms and banks and then rework the loans based on the reduced value of the properties, making the payments more manageable.
Dodd told Bernanke, Paulson and Cox that he believed all three of their agencies needed to do more to help deal with what he called a "crisis of confidence."
Sen. Robert Menendez, D-N.J., criticized policymakers for what he believed was a too slow response to the housing crisis. "We count on those at the top ... to sound an alarm," during a crisis, he said. Instead, "what we got was a snooze button ... we've been behind the curve."
Paulson said that in the final three months of last year, more than 470,000 homeowners got help from companies servicing their mortgages and almost 30 percent of those received a loan modification. He insisted the administration was working hard to help, and called the problems facing some struggling homeowners "heartrending."

 

[essexjet]

So....if the feds lower the rate another .5% in March, will this affect the mortgage loan rates, or just the heloc's and auto stuff??, what are bonds and unemployment looking like for march??

im pulling for the .75% cut, but doubt it. im looking to refinance also...but im currently at 6%. So im hoping i can get 5%....or better,.........what are everyones thoughts about another .5% cut.....????

Yes the Fed rate is what HELOC's Credit Cards, and short term loans will affect, not mortgage rates. We are near 6% today so for it to drop back down to the 5% range will take a lot to do.

 

[HavasuSelect]

Any updates on a possible timeframe for increasing the limit of the conforming loans?

Hey James, I'm sure you'll be jumping in here. How ya been?

 

[catman-do]

Any updates on a possible timeframe for increasing the limit of the conforming loans?

Hey James, I'm sure you'll be jumping in here. How ya been?

They are looking in the May-June time frame. HUD still needs to go through the zip's and determine median home values. However, there are only three counties that will make the cut in the 720k range. All are in the San Fran area. Here in the IE, they are expecting the range to only go up a few grand. More like in the 425-430k range.

 

[essexjet]

Any updates on a possible timeframe for increasing the limit of the conforming loans?

Hey James, I'm sure you'll be jumping in here. How ya been?

Been very busy as of late, seeing a increase in purchases over the last month. (hint hint :hmm)

Pres. Bush signed it into law on Feb. 13 in which HUD had thirty days to reform the loan limits and must publish the list for all areas by March 14.
Fannie & FHA will use those prices to establish the new loan limits and should be availiable shortly after that.

 

[boatnam2]

They are looking in the May-June time frame. HUD still needs to go through the zip's and determine median home values. However, there are only three counties that will make the cut in the 720k range. All are in the San Fran area. Here in the IE, they are expecting the range to only go up a few grand. More like in the 425-430k range.

no shit on the ie thing?i was hoping to get so more buyers in the 600k range with th enew law but dont sound to good.

 

[Tequila-John]

no shit on the ie thing?i was hoping to get so more buyers in the 600k range with th enew law but dont sound to good.

 

[TOBTEK]

Yes the Fed rate is what HELOC's Credit Cards, and short term loans will affect, not mortgage rates. We are near 6% today so for it to drop back down to the 5% range will take a lot to do.

AHHHHHHHHH What do you know....... whats sup James? how are things up north?

 

[PolarBearKing]

Been very busy as of late, seeing a increase in purchases over the last month. (hint hint :hmm)

Pres. Bush signed it into law on Feb. 13 in which HUD had thirty days to reform the loan limits and must publish the list for all areas by March 14.
Fannie & FHA will use those prices to establish the new loan limits and should be availiable shortly after that.

What about VA loan limits & rates???

 

[catman-do]

no shit on the ie thing?i was hoping to get so more buyers in the 600k range with th enew law but dont sound to good.

Well by the 13th HUD needs to have the median surveys done, so you will know exactly what your specific area you are showing buyers wil be at. However, the median home price in the IE are not that high. Sure you have pockets of homes that are in the 600-1mill range, but most of the prices are in the 300-very low 400 range. Me living in Rancho it sucks, but you have to think of the places that arent all to appealing to many people like Fontana, Ontario, Pomona, Riverside (many parts of it, there are some nice pockets there too), eastvale (houses built on methane barriers!), san berdo, devore, muscoy, colton. These places all have houses that I am getting loans on today with purchase prices back in the 200's.

 

[boatnam2]

Well by the 13th HUD needs to have the median surveys done, so you will know exactly what your specific area you are showing buyers wil be at. However, the median home price in the IE are not that high. Sure you have pockets of homes that are in the 600-1mill range, but most of the prices are in the 300-very low 400 range. Me living in Rancho it sucks, but you have to think of the places that arent all to appealing to many people like Fontana, Ontario, Pomona, Riverside (many parts of it, there are some nice pockets there too), eastvale (houses built on methane barriers!), san berdo, devore, muscoy, colton. These places all have houses that I am getting loans on today with purchase prices back in the 200's.

yea man!

 

[essexjet]

What about VA loan limits & rates???

Should know more by the 14th. Once HUD publishes it, I will let you know.

 

[essexjet]

AHHHHHHHHH What do you know....... whats sup James? how are things up north?

What going on Toby, havent talked to you in a while. Things are pretty busy here, I'll try to give you a call soon to catch up. :beer

 

[djunkie]

Looks like its going through. Caught a glimpse of it on the news. Over $700k for L.A. residents. Refi here I come.
________
CAMRY HYBRID

 

[essexjet]

FHA came out today:

In California, the counties at the maximum level for FHA loans are Alameda, Contra Costa, Los Angeles, Marin, Monterey, Napa, Orange, San Benito, San Francisco, San Mateo, Santa Barbara, Santa Clara, Santa Cruz and Ventura.

 

[essexjet]

FHA Raises Mortgage Limits
In High-Cost California Counties
By SARA MURRAY
March 5, 2008 6:38 p.m.

The Federal Housing Administration raised the mortgage limits to a maximum of $729,750 for 14 high-cost counties in California, as the government began providing aid to homeowners required by the recently enacted economic-stimulus package.

The upper mortgage limits also will apply to loans purchased or guaranteed by government-sponsored mortgage companies Fannie Mae and Freddie Mac, FHA officials said.

Details for the rest of the country are due to be announced this week. California counties such as Los Angeles and Orange will be eligible for the maximum limit, which was raised from $362,790. Lower- priced regions, such as Trinity and Lassen counties, will qualify for a loan cap of $271,050, up from $200,160.

FHA officials predicted the increases in California would aid about 33,000 individuals. The new loan limits will be in effect through the end of this year. The goal is to invigorate the market for larger mortgages, which should help push down interest rates.

The FHA said there would be an appeal process through which the new loan limits could be raised higher for counties that aren't now eligible for the $729,750 maximum, but none of the limits will be lowered, said Bill Glavin, special assistant for public affairs in the FHA's Commissioner's Office. That appeals process could be announced, along with new loan limits for the rest of the country, as early as Thursday.

"From what we understand there are not going to be a lot of areas in the country except for California that are going to be at the maximum," Mr. Glavin said.

Those who have applied for an FHA loan but haven't yet closed on it will be able to take advantage of the new limits. The new ceilings also will apply to people seeking to refinance into an FHA loan.
FHA Mortgage Limits in California by County
County Name Median Home Price FHA Limit
Alameda County $995,000 $729,750
Alpine County 438,000 547,500
Amador County 355,000 443,750
Butte County 320,000 400,000
Calaveras County 370,000 462,500
Colusa County 318,000 397,500
Contra Costa County 995,000 729,750
Del Norte County 249,000 311,250
El Dorado County 464,000 580,000
Fresno County 305,000 381,250
Glenn County 230,000 287,500
Humboldt County 315,000 393,750
Imperial County 260,000 325,000
Inyo County 350,000 437,500
Kern County 295,000 368,750
Kings County 260,000 325,000
Lake County 321,000 401,250
Lassen County 200,000 271,050
Los Angeles County 710,000 729,750
Madera County 340,000 425,000
Marin County 995,000 729,750
Mariposa County 330,000 412,500
Mendocino County 410,000 512,500
Merced County 378,000 472,500
Modoc County 125,000 271,050
Mono County 370,000 462,500
Monterey County 599,000 729,750
Napa County 615,000 729,750
Nevada County 450,000 562,500
Orange County 710,000 729,750
Placer County 464,000 580,000
Plumas County 328,000 410,000
Riverside County 400,000 500,000
Sacramento County 464,000 580,000
San Benito County 790,000 729,750
San Bernardino County 400,000 500,000
San Diego County 558,000 697,500
San Francisco County 995,000 729,750
San Joaquin County 391,000 488,750
San Luis Obispo County 550,000 687,500
San Mateo County 995,000 729,750
Santa Barbara County 615,000 729,750
Santa Clara County 790,000 72,9750
Santa Cruz County 719,000 729,750
Shasta County 339,000 423,750
Sierra County 228,000 285,000
Siskiyou County 235,000 293,750
Solano County 446,000 557,500
Sonoma County 530,000 662,500
Stanislaus County 339,000 423,750
Sutter County 340,000 425,000
Tehama County 250,000 312,500
Trinity County 200,000 271,050
Tulare County 260,000 325,000
Tuolumne County 350,000 437,500
Ventura County 599,000 729,750
Yolo County 464,000 580,000
Yuba County 340,000 425,000

 

[ChumpChange]

Now I just got to wait til my prepay is up in August. :swear

 

[essexjet]

Now I just got to wait til my prepay is up in August. :swear

:hmm