Well it is technically the end of the month. How did ya do? Oh I saw you roll your eyes! :) Don't worry, things are shifting around, BUT rates are getting better. I didn't Post yesterday, BUT some major things are happening.Oh....by the way, rates dropped a bit today! On a second note, the FEDs I BET are going to Nationally drop rates. With the release of the FOMC minutes, the feds are not too concerned about the credit issues in the markets but on the other hand they are concerned that if the conditions continue to worsen, they hinted that lowering rates would be an easement. WOW! This SOUNDS REALLY FAMILIAR! Oh that is right, I wrote that a few weeks ago!
Option One Mortgage Corp (OOMC) MIGHT actually shutdown. The Mortgage company that is owned by H&R Block was talking about selling back in April 2007 for 1 billion. With the quarter losses of 302.6 million, 1 billion is a STEAL! I know that OOMC i
s dropping rates a bit in the next day or 2, but that may be to have a little last horraa! Last stand? More like last of the Mohican's!Quote of the day was emailed. Countrywide with the silver tongue today apparently.
"...most difficult period on the history of mortgage lending".
The only other news that I have is that it is interesting to me that Indymac seems to be buying up branches. Something about American Home Mortgage branches put a good taste in Indymac mouth. They have purchased and taken over 90 branches thus far. I have 2 immediate questions.
1st: WHY?!
2nd: If you have the money to do that, and not be frugal with your money (assuming it's yours) what is it on the horizon that you see coming?
That is all for now!
Questions? Email me:
Corey.Mullin@gmail.com
http://mortgage-pro-opinion.blogspot.com/
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