John Tuggle's (youhomeyouloan) Blog

Treasury will sell record amounts of 2-5-and-7-yrs next week offering $40B 2s, $32B 5s and $22B 7s (the first issue of that maturity since 2000), Tues, Wed and Thurs respectively, along with $31B 3-mo and $30B 6-mos. This morning we were estimating a total of $97B so this is $3B less, but still a...

Below is a list of key elements of the plan outlined Wednesday by President Obama that aims to aid as many as 9 million households in fending off foreclosures: Allows 4 million–5 million homeowners to refinance via government-sponsored mortgage giants Fannie Mae and Freddie Mac. Establishes $75 b...

The federal stimulus package signed into law today is expected to save or create 52,000 jobs in Alabama, according to White House data. Alabama Congressman Spencer Bachus voted against President Barack Obama’s $787 billion American Recovery and Reinvestment Act, but his district stands to gain th...

The latest weekly MBA mortgage applications surged 45.7% and rebounded from the previous week's 3-month low. The purchases rose 9.1% from an 8-year low set the previous week and the refinancing sub-index soared 64.3% as a drop in mortgage rates encouraged refinancing. The average rate on a 30-yea...

Our old friend and sometimes lover, Fannie Mae, has awakened this month from what seemed like a long nap. Or, should I say comma. In addtiona to the previous announcement in reference to relaxed criteria on credit and appraisals for some Fannie Mae refinances starting in April, Fannie is now read...

Treasuries and mortgages are strong early this morning. Rotation between equities and treasuries continues. Yesterday while the US markets were closed the global equity markets were hit hard and today is the same. Over the weekend Japan's Q4 GDP was reported down 3.3%, much softer than expected. ...

Fannie Mae is building on its current efforts to support the market and provide additional liquidity to the housing finance system through expanded refinance options. To allow more borrowers to take advantage of today's historically low interest rates and help the lending community break the logj...

This week’s data is expected to show us no surprises.We are paying much more attention to what the government’sinitiatives will be like as they unfold over the next several days and months. We are still expecting treasury prices to be hardpressed to make any significant improvements with all ourf...

NEWS FLASH, Stimulus bill restores Fannie, Freddie, FHA limits John Tuggle 15. February 2009 Stimulus bill restores Fannie, Freddie, FHA limits Congress today voted on a $790 billion economic stimulus bill that includes a modest expansion of a first-time homebuyer tax credit and restores to $729,...

A proposal to provide a $15,000 tax credit to homebuyers was stripped from a $789 billion economic stimulus package that appears headed for a vote Friday, but a restoration of higher loan limits for Fannie Mae, Freddie Mac and FHA loan guarantee programs appears to have made the cut. The $15,000 ...