Recent Posts At Straight Talk

• Known Unknowns – Huh? March 16, 2010
  The CEO of PIMCO (the largest bond investor in the country) did an interview on CNBC this morning.   I’m going to attempt to translate what he said…..  (My comments are in bold) Investors should be holding healthy levels of cash in order to take advantage of "known unknowns" that become clearer as the economy evolves, Pimco’s [...] […]
  Sean Vault
• Mortgage delinquencies at historic highs March 15, 2010
  We’ve got another post that will be coming up later tonight (or tomorrow morning, depending on time frames) that addresses the often repeated statement by the National Association of Realtors –  ”It’s a Great Time to Buy a House!” This is another of those type of reports.   If you listen to a lot of the [...] […]
  Kenny
• Mortgage Rates March 15, 2010
  Quick update on what’s going on in the market today……. Mortgage rates are quiet today on a mixed bag of news.    A couple of manufacturing reports came in in what you’d call the “Goldilocks range”  (not too hot, not too cold).    The dollar is rallying a bit and oil prices are down.     The market is somewhat [...] […]
  Sean Vault
• Bank Failure #29 & #30: Florida and Louisiana March 13, 2010
  From the FDIC: Centennial Bank, Conway, Arkansas, Assumes All of the Deposits of Old Southern Bank, Orlando, Florida Old Southern Bank, Orlando, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. … As of December 31, 2009, Old Southern Bank had approximately $ […]
  Kenny
• Bank Failure #28: Park Avenue Bank, New York, New York March 13, 2010
  From the FDIC: Valley National Bank, Wayne, New Jersey, Assumes All of the Deposits of the Park Avenue Bank, New York, New YorkThe Park Avenue Bank, New York, New York, was closed today by the New York State Banking Department, which appointed the Federal Deposit Insurance Corporation FDIC as receiver. ..As of December 31, 2009, [...] […]
  Kenny
• Mortgage Rates Today….. March 12, 2010
  Well, we told you earlier that the retail sales report would probably push rates up.    Now that I’ve got today’s rates, here’s an overview of the changes from yesterday: 30 year Fixed under $417,000 – no change from yesterday. 15 year fixed under $417,000 – a minor increase. 30 year fixed over $417,000 – a minor increase 15 year [...] […]
  Sean Vault
• Bank Failure #27: LibertyPointe Bank, New York – and it wasn’t even Friday! March 12, 2010
  From the FDIC: Valley National Bank, Wayne, New Jersey, Assumes All of the Deposits of LibertyPointe Bank, New York, New York LibertyPointe Bank, New York, New York, was closed today by the New York State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver…. As of December 31, 2009, LibertyPointe Bank had approxim […]
  Kenny
• Retail Sales Look Strong – puts pressure on mortgage rates? March 12, 2010
  Sales at U.S. retailers rose unexpectedly in February despite a drop in vehicle purchases and inclement weather that was expected to curtail shopping, according to a government report on Friday that bolstered hopes of a sustainable economic recovery. The Commerce Department said total retail sales rose 0.3 percent as consumers bought an array of goods from [ […]
  Kenny
• Elizabeth Warren for Treasury Secretary? March 12, 2010
  Elizabeth Warren on Consumer Protection (MMBM) from Roosevelt Institute on Vimeo. Are you sick and tired of the lack of straight talk in the mortgage world?We are.   That's why we write here - even though we have to do it under a pen name - because our lending institutions don't like it......If you want to [...] […]
  Sean Vault
• Why the U.S. can’t inflate its way out of debt – Mar. 11, 2010 March 11, 2010
  Okay, I’ve got to say, I shouldn’t be surprised that this is just now becoming “news” but I am.    It’s just now dawning on people that we can’t inflate our way out of debt? Did we really think that the money wouldn’t have to be paid back some time? If our government engages in policies that will [...] […]
  Kenny