"Cornerstone Worldwide" - China Cuts Rates To Boost Economy. [guide2mortgage.blogspot.com]
For more information, contact Cornerstone Mortgage, WEOKIE Credit Union, Citywide Mortgage, Bank of America, Wells Fargo Home Mortgage, SpiritBank, First ... Oklahoma real estate business briefs: Real Notes for June 16
Cornerstone Mortgage Group presents a 2009 mortgage market forecast on there prediction of how the next 2009 year will turn out. Hosted by Michael Hinton, he will go into detail explanation of the hows and whys of the mortgage market along with detail graphs. Part 1 of 3
guide2mortgage.blogspot.com Cornerstone Mortgage Group Part 1 of 3 2009 Mortgage Market Forecast
'Cornerstone Worldwide': Following $ 586bn stimulus package, China cuts interest rates.
Cornerstone Worldwide strategists apparently believe that China is likely to continue its efforts to keep growth above 8% in the face of the global economic slowdown that has seen millions of Chinese lose their jobs.
A source familiar with Cornerstone Worldwide strategists said that the announcement of a 108 basis points cut would more than likely be followed by further initiatives in the near-term.
China’s manufacturing industry has been hit particularly hard by the slump in key markets including the US and Europe and the downturn has forced the government to deploy its vast foreign exchange reserves in a bid to create jobs for the unemployed within huge infrastructure projects.
Cornerstone Worldwide said that although the challenges facing China were considerable, the country had the ability to fund such spending without resorting to the issuance of government-backed debt unlike the US or the UK.
The Cornerstone Worldwide source also warned that China would have to sell some of its holdings in US Treasuries or Fannie Mae bonds in order to finance the stimulus and this could eventually have an adverse effect on its other US dollar denominated holdings.
More "Cornerstone Worldwide" - China Cuts Rates To Boost Economy. IssuesQuestion by Chef Chente: What Mortgage Lenders/Banks should I avoid? We're buying our first home. I'm checking rates at Bankrate and finding a lot of choices. I'm tempted to apply to the lowest APR. Should I be avoiding any of these companies listed below? My credit union has a much higher rate than any of these. Avex Funding Nations Choice Mortgage American interbanc.com Compass Lending Group AIMLoam.com Westside Mortgage Group Cashcall Everbank Cornerstone Mortgage Quicken Loans Best answer for What Mortgage Lenders/Banks should I avoid?:
Answer by Iffy
All of them None are well known reputable companies. Deal with your own bank first.
Answer by Chas R
Quicken is the most reputable on your list. Also avoid Bank of America and Astoria Financial.
Answer by Toni
Quicken, Everbank, and Compass are names I know. But... be careful - they are pushers of things that are Evil. They will try to scam you into variable loans, ARMs, 5/1's, 5/5's. Interest rates could easily double in 5 to 7 years. Making your interest portion of your payment almost double - and you could lose your home. None of these companies are your friends. You must stick to 15 or 30 year FIXED. And don't let these sharks take advantage of you by signing something you do not undertand. Google: How much house I can afford and do your research. These banks will push the maximum so you will lose your home in the future. Go by what you feel is comfortable for you. Your mortgage monthly payment should not be more than 25% of your take home pay. Or 35% of your net pay. Good rule: Don't go over three times your salary. Go get a book called Home Buying for Dummies - not for dummies at all - very good At your library or bookstore...
Answer by Rob Rules
Loan Home Inc. I used Bank of America and am happy with them so far.
