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World economy overheat threatens US

Will the overheating world economy bring down the US? Maybe, says Lou Barnes. Fed foolish to raise rates now Commentary: Despite U.S. problems, turmoil yet to unfold in Asia, Europe By Lou Barnes, Inman News The credit markets have concluded that inflation risk now...

Getting a mortgage loan is easy … if you can find a loan officer

mortgage loans

Wow. Now that they are required, state and mortgage industry officials expected 20,000 applications at the Division of Banks for existing loan officers by the initial deadline of May 27. They received 5,643. Source: Once Seen as ‘Hot’ Profession, Loan Officer Ranks...

Recession? Yeah, I’ve heard that rumor

mortgage loans

Lou Barnes plays World Economist, in his weekly column. Will oil prices moderate? Is there a “commodities bubble” happening? I don’t know. All roads lead to global recession Commentary: Layoffs, oil, foreclosures sustain credit crunch By Lou Barnes,...

Economy at a standstill, for another week

mortgage loans

This week, Lou Barnes sees more of the same. Not worse, not better. I’ll be happy with not worse, my friends. Will the “global economy” be enough to keep the US out of more trouble? I don’t know. Lousy numbers escape recession dunce cap...

FHA loans more popular; tight credit still a problem

mortgage loans

Shopping for a loan? You should be able to find one, fairly easily. FHA loans have made a comback. According to one mortgage broker: “If you put down 5 percent, you’ll need a credit score of at least 660 [to qualify for a FNMA or FHMLC loan]. But if you go...

Housing is so cheap

mortgage loans

The Economist reports: “Monthly payments on a typical house with a 30-year mortgage and 20 percent downpayment were 18.5 percent of the median family’s income in February, down from almost 26 percent at the peak — and close to the historical...