Ara Hovnanian, CEO, Hovnanian Enterprises
“We’re building extraordinary homes at a record pace.”
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Joined Nov 10, 2007
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uh oh = markets starting to roll over – time for a Charlie G spike –
alias: BPOE
We need Michael Moore to investigate this shit!
now that someone explained to me what alias: BPOE stands for, why do people say it? I still don’t totally get it.
So what does it mean?
“But inside, it’s really spiteful…”
“If the market is heading low…”
“Gasparino!
Gasparino!
Gasparino!”
Larry, Michael Moore couldn’t investigate his chubby with a forceps and a flashlight.
alias: BPOE
BPOE stands for biggest pig on earth. Pig as in piggy bank!!
The Housing Market has bottomed!! Banks are raising mortgage rates to make it easier for sellers to sell their foreclosed/short sale properties. Everyone should refinance now because the rates are going even higher in the next few weeks!! Each time the Feds lower the fund rate, the banks will just up the mortgage rates. The next step: properties on the market for over 180 days should start raising asking prices to match the increased in mortgage rates. Makes a lot of sense!
http://www.bankrate.com/brm/static/rate-roundup.asp
“Rate: 6.37 percent (30-year fixed) Average Points: 0.40
Mortgage rates skyrocketed for the third time in the past four weeks and are now at their highest levels since last fall.
The average 30-year fixed rate shot up by 41 basis points from the previous week, to 6.37 percent. A basis point is one-hundredth of a percentage point. This week’s 30-year fixed is at its highest level since Oct. 17, when it was 6.49 percent.
Meanwhile, the average 15-year fixed — a popular option for refinancing — also rose 41 basis points, to 5.87 percent. The average jumbo 30-year fixed rose 39 basis points, to 7.55 percent.
Adjustable-rate mortgages also moved up this week. The one-year adjustable-rate mortgage rose 10 basis points, to 5.56 percent. The popular 5/1 ARM rose 27 basis point, to 5.77 percent.
Mortgage rates have risen substantially for three out of the four weeks since Jan. 23, when the 30-year fixed bottomed out at 5.57 percent. That week, mortgage rates hit their lowest levels since March 2004.
A drop in requests for mortgage loans this week also appeared to confirm that higher mortgage rates are dampening homeowner enthusiasm for refinancing. Mortgage loan application activity fell for the second consecutive week. Application volume for the week ending Feb. 15 dropped a seasonally adjusted 22.6 percent from the previous week’s reading, according to statistics from the Mortgage Bankers Association.
Refinancing activity took a particularly hard hit, dipping a seasonally adjusted 27.9 percent from the previous week. Until the last two weeks, mortgage application activity had risen each week since the beginning of the year.”
alias: BPOE
He has a CHUBBY ? Sounds personal
hey small titi …
that fucking banks rise rates ?? because of high demand for mortgages ??
i think the strategy is the following .. nobody knows who own that cdo mortgages .. them who own them dont know what to do with them .. doing a forclosure or so is just too difficult .. so they just let that papers hang around, book it off da script someday and meanwhile fetch cheap money from bernanke and do as always
optimatis: don’t know if you were aware, i was being sarcastic. you would think the banks would lower rates to encourage more buyers, but instead they are doing the opposite.
Small– they’ve no choice in the matter, the rates are set by the capital markets.
Cover your shorts I will proceed to have your undescended testicle chooped off while eating stale Dominos Pizza and drinking rich man’s whiskey with a splash of lime.