The cost to borrow money is on the rise. That is bad news for home buyers and other prospective borrowers. It helped cause a stock market sell-off Wednesday, and prompted President Donald Trump to say that the Federal Reserve has “gone crazy.” But it amounts to good news for the long-term direction of the economy. In effect, the multi-trillion dollar global bond market is signaling a little greater confidence than it did just a few weeks ago that the nine-year expansion in the United States may have room to keep going for years to come, and without inflation taking off. The yield on 10-year U.S. Treasury bonds reached a seven-year high this week of 3.25 percent (it receded some Wednesday as stocks dropped), up from 2.82 percent in August. The 10-year rate was below 1.4 percent as recently as July 2016. But beyond those headline numbers, the details of how the prices of different types of securities have moved relative to one another tell a story that is decidedly … [Read more...] about Interest rates are rising. That’s great news for almost everyone.
Mortgage news 2017
By Jeff Lazerson | [email protected] | MortgageGrader.com PUBLISHED: October 11, 2018 at 12:05 pm | UPDATED: October 11, 2018 at 12:05 pm What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary From Freddie Mac’s weekly survey: The 30-year fixed rate exploded, averaging 4.90 percent, up 19 basis points from last week. That’s the highest rate since April 2011. The 15-year fixed averaged 4.29 percent, up 14 basis point from last week, also to a 7 ½-year high. The Mortgage Bankers Association reported a 1.7 percent decrease in loan application volume from the previous week. Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $453,100 loan, last year’s payment was $265 lower than this week’s payment of $2,405. What I see: Locally, well-qualified borrowers can get the following fixed-rate mortgages with one point: A 15-year at 3.75 … [Read more...] about 30-year mortgage rate nears 5%, jumping to 7 ½-year high
Sections SEARCH Skip to content Skip to site index Subscribe Log In Subscribe Log In Today’s Paper Advertisement Upshot Supported by Here’s what the bond market is really telling us about the economic future. ByNeil Irwin Oct. 11, 2018 The cost to borrow money is on the rise. That is bad news for home buyers and other prospective borrowers. It helped cause a stock market sell-off on Wednesday, and prompted President Trump to say that the Federal Reserve has “gone crazy.” But it amounts to good news for the long-term direction of the economy. In effect, the multi-trillion dollar global bond market is signaling a little greater confidence than it did just a few weeks ago that the nine-year expansion in the United States may have room to keep going for years to come, and without inflation taking off. The yield on 10-year United States Treasury bonds reached a seven-year high this week of 3.25 percent … [Read more...] about Interest Rates Are Rising. That’s Great News for Most.
Three long-serving Atlantic County Prosecutor's Office employees accuse Prosecutor Damon Tyner of criminal mortgage fraud, hiding information in a high-profile murder case, and abusing his power by hiring family and protecting friends from prosecution. The accusers - two assistant prosecutors and a detective lieutenant - sent a formal complaint to the state Attorney General's Office and the U.S. Attorney for the District of New Jersey dated Oct. 4, requesting the offices investigate Tyner for alleged ethical violations ranging from misusing funds to sweeping gender discrimination complaints under the rug. NJ Advance Media obtained a copy of the letter, from Diane Ruberton, a former first assistant prosecutor; Heather McManus, a former lieutenant; and Donna Fetzer, a chief assistant prosecutor. Fetzer is the only one still employed at the office. The letter said Tyner fired Ruberton after she confronted him about alleged misconduct. "All three of us have expressed concerns over the … [Read more...] about Staffers allege top prosecutor abused his power, engaged in mortgage fraud
/EIN News/ -- OMAHA, Nebraska, Oct. 01, 2018 (GLOBE NEWSWIRE) -- America First Multifamily Investors, L.P. (NASDAQ: ATAX) (the “Partnership”) announced today that on September 25, 2018, it sold Jade Park, a 144-unit property, held in its MF Property portfolio, located in Daytona, Florida for $13.45 million. ATAX will realize a gross gain, before direct and indirect expenses, of approximately $4.0 million to be recognized in the third quarter of 2018. In addition, Lake Forest, a 240-unit property contiguous to Jade Park, was sold by its owner. The mortgage revenue bond (“MRB”) associated with Lake Forest and held by ATAX was redeemed. As a result of this sale, ATAX will realize interest, contingent interest and other income, before direct and indirect expenses, of approximately $10.4 million in the third quarter of 2018. In September 2016, ATAX purchased Jade Park and embarked upon a strategy of increasing the occupancy and … [Read more...] about America First Multifamily Investors, L.P. Announces the Sale of Jade Park MF Property and Redemption of a Mortgage Revenue Bond