|
Jun. 22, 2007: Mortgage Market
Rob Chrisman
Traditionally
when
there is no economic data scheduled for release, like we have
today,
markets tend to be quiet. But let’s just say we’re not in a
traditional market pattern as of late. As Bear Stearns manages
to secure cash
and save their troubled hedge funds, mortgages and treasuries
have been taken
for a ride as investors have come into, and out of, these
markets to offset
exposure in other riskier ventures. Mortgages traded inline with
Treasuries
yesterday; there was a late day squeeze on TBA’s which pushed
Fannie Mae
securities down across the stack. The 2yr closed down a couple
of ticks to end
the day at 4.97%, and the 10yr was pushed down 15/32’s yielding
5.188% This
morning is quiet…..too quiet: Mortgages little changed from
yesterdays
close, and Treasuries are currently hanging tough with the 10yr
sitting at
5.19% Like I said, a quiet day (D’oh!)
When my
Mom wasn’t within earshot my Dad would say, “What's worse
than a
Male Chauvinist Pig? A woman who won't do what she's told!”
Needless to
say, he thought he was being funny. The fact of the matter
is, according to US
Census data, 55% of loan officers are women. More and more
single women own
homes, a trend that is not lost on educated loan agents.
Culling data from two
studies that reveal what women think about home ownership
and home maintenance,
Sears found that 85 percent of women surveyed have been, are
or expect to be
solely responsible for a home at some point in their lives.
More than half said
they are already responsible for basic household maintenance
and repair, either
on their own or in conjunction with their spouse. However,
94 percent of them
are concerned about getting a fair price from home
maintenance professionals;
63 percent of them believe they are charged more than men
for the same work and
that good home repair professionals are harder to find than
doctors, financial
advisors or real estate agents. Only good lawyers were
considered more
difficult to find, according to one survey. "From the record
numbers of
single women buying a first home to those who are suddenly
single as a result
of divorce or the death of a spouse, more and more women are
finding themselves
responsible for a home," said Georgeann Georges, vice
president of Sears
Home Services. "Given that a woman's home is frequently her
most valuable
financial asset, women need to arm themselves with the
knowledge and tools to
keep their homes in good repair," said Georges.
|