Your Questions About Mortgage Rates Forecast

Maria asks…

Are these the Green-shoots,this Government are talking about?

Experts are suggesting that the following is more likely to happen.

Unemployment set to increase by at least 100000 a month.
Oil prices are now at $73 a barrel–pushing up petrol prices
Nationwide and others have put up mortgage costs
House affordability worse than in the eighties
Bank lending fell in April at the fastest rate for a decade
Interest rates forecast to go back up in 2010
Taxes have to rise to plug the huge gap in government finances.

Once again this government continues to con the people of this country, is there no end to their spin?

Sorry I have no ready link, but I would appreciate your comments.
mac the knife…..I am grateful for your information, but even that leaves a lot to be assumed.

admin answers:

The government says green shoots, the IMF says not a chance. The government says signs of recovery, independent financial experts say no change.

I’ve stopped listening to the government when it comes to the economy – it is quite obvious that they do not have a clue.

Betty asks…

is buy to let in the uk still a good investment ?

everything seems so expensive at the moment, i just dont see how people get on the property ladder.

but it also seems to me that this is a unique time as buy to let mortgages are more freely available than ever before.
buy to let landlords are sitting on a lot of property that they are unlikely to sell for a long time as they would have a lot of tax to pay and a lot have remortgaged the properties to buy more thus giving them a negative equity when considering the tax they would pay on sale .

also where else would they invest with more potential for someone else to pay for the investment ?

i have heard interest rates are still quite low but forecast to increase to 6 percent by the end of the year ,still not ridiculous

so what do you think is it still a good investment ? if so any ideas where i should buy ?

admin answers:

As of today there is talk of interest rates going up next month and with it mortgage repayments. I am no expert but looking at performance over the past 10 years I think the bubble is going to burst, it is the law of averages things can not keep going up and up, have to fall in the end. Also you have to bare in mind that there will be an election soon, no more Gordon Brown perhaps. It is all a little too complex at the moment but good luck anyway.

Joseph asks…

PLEASE SUMMARIZE!!! hw help?

Please summarize this is 2 paragraphs!! im having difficulty and its late in america. 1:30 a.m. and i have school 2morrow!! HELP!
ASHINGTON (MarketWatch) — Pending home sales in July rose 5.2% from downwardly revised June levels, the National Association of Realtors reported Thursday, though the indicator shows the market for existing homes is still depressed after the expiration of a key tax benefit.

As the availability of a home buyer tax credit worth as much as $8,000 expired at the end of April, the pending home sales index plunged 29.9% in May and another 2.8% in June. The NAR had initially reported a 2.6% drop for June.

The July index came in better than the 1% monthly drop that economists had forecast, though sales in July were nonetheless 19.1% below those during the same month in 2009.

The data reflects contracts and not closings, which normally occur with a lag time of one or two months. The NAR index is based on a large national sample, typically representing about 20% of transactions for existing-home sales.

The May plunge in pending home sales hinted at the 27.2% plunge in existing-home sales reported in July.

“Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” said Lawerence Yun, chief economist for the trade group.

“For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”

Though the pending-home-sales index isn’t always a reliable indicator of future existing home sales, the report is consistent with a rebound from July’s record low of 3.83 million to around 4.4 million in August, according to Paul Dales, U.S. economist at Capital Economics.

“That would be a spectacular 15% month-on-month jump, but it would not even reverse the falls seen after the expiry of the tax credit and would leave sales at levels not sustained since 1997.”

About half of all households have less than 20% equity in their home, meaning they won’t be able to get another mortgage, he said. Pointing to the 4.43% 30-year mortgage rate, he said even the housing bargain of a lifetime is not enough to bring the market back to life.

Steve Goldstein is MarketWatch’s Washington bureau chief.
🙁 oh well i guess ill jux do my own hw…

admin answers:

Here’s my summary.

I’m a student taking a class I don’t understand but for some reason I think I’m entitled to pass anyway. Please give me an A for cheating.

Daniel asks…

Obama has no faith in his ability or the US?

Here is why I say this Ronald became president inheriting a dismal economy.12% inflation rate 16% mortgage interest rate 10% unemployment gas lines yet turn it around President Bush inherited a recession and got hit with 911 further destroying the economy yet he turned it around I will post his record. 2 Republicans they both cut taxes were very positive and both time the US went through fantastic economic growth now we have a Obama that’s gloom and doom like Carter a matter a fact Carter endorse his policy…. wonder where this is leading before the Bush Basher state how Bush screw up the economy here is a factual record by international organizations.

This is from the wall street journal Sept 8th 2008.

PRESIDENT BUSH HAS A GOOD ECONOMIC RECORD
The evidence shows that much of the Democratic Party’s criticism of President Bush’s economic record is wide of the mark, says Keith Marsden, a fellow of the Centre for Policy Studies.

How does the performance of the U.S. economy really compare with other advanced economies over the eight years of George Bush’s presidency? Data published by the International Monetary Fund (IMF), the Organization for Economic Cooperation and Development (OECD), the World Bank, the International Comparison Program (ICP) (a cooperative venture coordinated by the World Bank) and the U.S. Census Bureau allow a nonpartisan, factual assessment, says Marsden.

Economic growth:

U.S. output has expanded faster than in most advanced economies since 2000.
The IMF reports that real U.S. gross domestic product (GDP) grew at an average annual rate of 2.2 percent over the period 2001-2008 (including its forecast for the current year).
President Bush will leave his successor an economy 19 percent larger than the one he inherited from President Clinton.
This U.S. expansion compares with 14 percent by France, 13 percent by Japan and just 8 percent by Italy and Germany over the same period.
The latest ICP findings, published by the World Bank in its World Development Indicators 2008, also show that GDP per capita in the United States reached $41,813 (in purchasing power parity dollars) in 2005; this was a third higher than the United Kingdom’s, 37 percent above Germany’s and 38 percent more than Japan’s.
Household consumption:

The ICP study found that the average per-capita consumption of the U.S. population (citizens and illegal immigrants combined) was second only to Luxembourg’s, out of 146 countries covered in 2005.
The U.S. average was $32,045; this was well above the levels in the UK ($25,155), Canada ($23,526), France ($23,027) and Germany ($21,742). China stood at $1,751.
Source: Keith Marsden, “Bush Has a Good Economic Record,” Wall Street Journal, September 3, 2008.

admin answers:

I’ma just be real and everyone else knows its true to.

No one said anything about bush and the economy till “obama” said its all bushs fault. Then all of a sudden, massive noobs come in spamming anti-bush rehertic when something bad about obama is said.

And they only agree because they DO NO RESEARCH. Anyone who does real legit research would of never voted for Obama inless you believe in what he stands for, and most have no clue.

Ruth asks…

Is Obama’s media-contrived popularity ruse a setup for carte blanche Zionist NWO fascist executive orders?

CODE RED – Economy in Collapse
Drastic Actions Will Be Taken
Trends Research Institute
1-23-9

KINGSTON, NY, 22 January 2009 — President Barack Obama will use his poll shattering popularity to swiftly enact policies that will prove to be among the most costly and potentially destructive in America’s history, predicts Trends Research Institute Director Gerald Celente.

“We are forecasting dramatic measures will soon be taken by the Obama Administration that will worsen the credit crisis and severely damage the nation’s economic system,” says Celente.

According to The Trends Research Institute Director, the new President who swept into the White House on a tidal wave of unprecedented enthusiasm and the blessings of a strong majority, will have free reign to take whatever actions he deems necessary.

“Whatever Obama wants, Obama gets. Desperate, scared and not knowing what to do to survive the economic storm, people are seeking a messiah to save them, and Obama is their man,” said Celente. “When fear rules, reason and logic are ruled out.” (According to an AP poll, 71 percent of Americans believe the economy will improve during the first year of the Obama presidency.)

The 332-point stock market decline that greeted Mr. Obama into office (a record breaker for Inauguration Day) and today’s 105-point market decline will be followed by a steady stream of worsening economic news and major financial calamities, Gerald Celente forecasts. Just as President Bush exploited 9/11 as a pretext to wage the War on Terror, invade Iraq, abrogate the Constitution and exert broad Executive powers (with bipartisan and majority public support), President Obama will be given even greater latitude to fight a war on economic terror, predicts Celente.

For example, Timothy Geithner, President Obama’s nominee for Treasury Secretary, has pledged to expand and prolong government intervention in the financial markets. He said his economic team would take “forceful” and “substantial action” on a “very dramatic scale” to “forge an integrated strategy on how best to achieve currency realignment.”

Celente advises to closely read the signals that have been clearly telegraphed by Mr. Geithner. “From proclaiming a bank holiday, confiscating gold to backstop devaluing currencies, mega-bailouts for the too-big-to-fails … to nationalizing public firms and dollar devaluation … whichever of these or other actions are taken, the financial burden will fall on the American people,” Celente forecasts.

Blame the Little People
In his inauguration speech President Obama warned Americans of tougher times ahead and for the need to make greater sacrifices. In doing so, the President placed equal blame for the global financial crisis on the public’s “collective failure to make hard choices,” along with the “consequences of greed and irresponsibility on the part of some.”

“The President is correct. Many have spent beyond their means, borrowed themselves into debt, took risks playing the markets, and speculated on real estate,” said Celente. “But comparing Main Street’s financial missteps to the large scale corruption and criminality of the banks, brokers, insurance companies, hedge fund operators, mortgage companies, rating agencies and buyout firms that cooked the books, enriched executives, ripped off clients and rigged the numbers, is further evidence that Obama is a Wall Street man.

Trendpost: Do you know where your money is? Is it safe? Will you be able to get it when you need it? What will you do if trading is temporarily suspended on Wall Street? Will you be able redeem your CD’s?

The new Treasury Secretary promises “a very dramatic scale” of action that may in turn require you to take very dramatic counter measures to protect your assets. We forecast with great confidence that whatever actions Washington takes to save the “too big to fails,” they will prove very costly for the “too small to saves” who will be forced to foot the bills and eat the losses.

© MMIX The Trends Research Institute ®

admin answers:

No. The premise of your question is completely false.

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