Mortgage Rates Heading Back Toward Record Lows
Mortgage rates slipped lower for the second straight week, according to the latest survey from mortgage financier Freddie Mac.
The ever-popular 30-year fixed averaged 5.04 percent during the week ending February 19, down from 5.16 percent a week earlier and 6.04 percent a year ago.
“Mortgage rates followed bond yields lower this week as recent economic reports suggest the economy is still slowing, Read more
The Hummers Are Back
In recent weeks, I’ve seen an increasing number of tank-like Hummers cruising the streets of Los Angeles, a troubling trend clearly tied to the big drop in gas prices.
Drawing a parallel to housing, my fear going forward is that the unprecedented drop in interest rates will lead to another ill-conceived housing bonanza.
And while underwriting guidelines have tightened and oversight is seemingly improved, Read more