Just an update, the mortgage lender Implode-O-Meter is up to 189 since late 2006.  The Implodometer is a great benchmark for the trouble we are seeing in the mortgage markets.  Expect a big jump when we get some resets in early 2008, unless the lenders can arrange financing at favorable terms ahead of it.

Heading into the last week of November, we’re seeing the 30-year fixed continue to edge down from 5.91% last week to 5.89% the past holiday week.  The 15-year fixed dropped significantly from 5.5% to 5.45%.  The 30-year jumbo took a similar fall, according to BankRate, from 6.65% to 6.56%

I can’t really seem to get over some of the idiots that are out there posting on seemingly respectable blogs.  Here we have someone giving some really generic advice about buying a house - most of which is good advice.  However, what this article, is completely ignoring are the larger macroeconomic conditions that affect real […]