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Golf clap!
Go FnF!
Looks like we are paying for a couple of good days.
Go FnF!
We are at the high of the day at $1.73. I wish my order to buy some more at 1.25 had filled a couple of days ago. Off by a penny but I am not complaining. We are coming back nicely.
Go FnF!
Weekly Mortgage Applications Fall 29% As Homebuyers Pull Back
March 25, 2020
?
By EKKAPON
In the time of the coronavirus, Americans are not in the mood to buy homes. Considering the high mortgage interest rates in addition to the economic shutdown and unsteady stock market, it makes sense. The total mortgage application volume fell 29.4 percent last week from the prior week as the 30-year fixed-rate mortgage hit the highest levels since January—3.82 percent for a 20 percent down payment. With all the uncertainty and disruption going on worldwide, the news isn’t shocking, but it still stings as one more reminder of the great spring season that could have been.
An increase in interest rates, combined with a massive shutdown of the economy caused homeowners and potential homebuyers to back away from the mortgage market.
Total mortgage application volume fell 29.4% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) increased to 3.82% from 3.74%, with points decreasing to 0.35 from 0.37 (including the origination fee) for loans with a 20% down payment. That is the highest level since mid-January.
Read More
https://www.probuilder.com/weekly-mortgage-applications-fall-29-homebuyers-pull-back
Fannie Mae and Freddie Mac Released Coronavirus Relief Plans. Here’s What It Means For Landlords and Renters.
https://www.barrons.com/articles/fannie-mae-and-freddie-mac-released-coronavirus-relief-plans-heres-what-it-means-for-landlords-and-renters-51585081954?mod=RTA
COVID-19 Real estate crash and rent problems looming globally
? Rita MonteiroMarch 25, 2020
Is the US is an accurate tell-tale of what is about to happen in global property markets? Perhaps with home ownership rates much higher in European states like Italy, Greece and Spain the US rental market may face a harsher reality. Here is what we know so far:
The mandatory closure of nonessential businesses around the country and subsequent layoffs could bring on another housing crisis. With cashflow drying up and employees furloughed without pay or laid off entirely, owners and workers are struggling to find the means to pay rent. A conglomerate of retail outlets is threatening to withhold April rent payments, citing a common clause in commercial real estate contracts. But business’ inability to pay rent could completely upend the mortgage market. States and municipalities are stepping in to provide relief and abate foreclosures and evictions, particularly while shelter-in-place orders are in effect. The federal government has instituted a nationwide stay on foreclosures for the next two months for about 30 million homeowners that have mortgages backed by Fannie Mae and Freddie Mac.
Here are other steps being taken to protect renters and keep people and businesses in their homes:
Los Angeles has extended its ban forbidding landlords from evicting tenants in rent-stabilized apartments and turning them into condominiums.
Miami-Dade police are not carrying out evictions.
New York Gov. Andrew Cuomo put a moratorium on all commercial and residential evictions for 90 days.
San Francisco has issued a moratorium on evictions and put additional protections in place for small businesses. California Gov. Gavin Newsom, meanwhile, issued a directive allowing local governments to put a stay on residential and commercial evictions.
Maryland Gov. Larry Hogan has banned evictions while the state is under a state of emergency.
Kentucky has put a hold on any eviction proceedings until April 10, however, any evictions already in progress are still being executed.
In Detroit, real estate conglomerate Bedrock will not collect rent or fees from small business until July.
It could be that “stimulus” and cash injections will prop up small businesses much more than those with interests in the real-estate market – and that home owners may well be the ones to help share the burden by facing a loss of rental income. In countries like the US, Australia and UK this will increase the risk of toxic loans as mortgage lenders risk a new crisis.
https://www.newstrail.com/covid-19-real-estate-crash-and-rent-problems-looming-globally/
Coronavirus headlines: Senate and White House agree on historic coronavirus bailout package
Talia Naquin. 1 min ago
(WJW) – The White House and Senate have agreed on an historic $2 trillion package aimed to keep the economy afloat as the nation struggles amid the coronavirus pandemic.
The full details have yet to be released.
Here’s what we do know it includes:
$250 billion for individuals and families
$350 billion in small business loans
$250 billion in unemployment insurance benefits
$500 billion for company loans
The Senate will reconvene Wednesday afternoon. A vote has not been scheduled.
https://fox8.com/news/coronavirus-headlines-senate-approves-historic-coronavirus-bailout-package/amp/
Stock Markets Surge on U.S. Agreement: Live Updates
https://www.nytimes.com/2020/03/25/business/stock-market-today-coronavirus.amp.html
Are Dick Bove and Bob Corker friends?
To keep us under the jack boots of the oppressors, right on the corotid.
Go FnF!
I missed adding to my position today by a penny. If the market looks bad tomorrow morning I may only put a buy in at $1.00. I don't want it to down but imagine getting more Fannie for a buck. Strange times!
Go FnF!
I would like to see a down market Monday and FnF remain flat. A little evidence that the FnF bottom is in.
Go FnF!
You know that is from Friday, right? Current dow futures down like -992. S&P futures -126. If I am looking at current data. But...
Go FnF!
For instance our federal government will not let the major airlines or Boeing go belly up. Remember how the federal government would not allow American air lines to fail?
Lots of bargains out there. Even the biggies like Apple are bargains now. FnF are bargains as well. FnF were bargains pre corona.If you held FnF through this mess until now you Are WAY DOWN from previous high. but the upside potential has not changed. I am going to buy more if it gets down to $1.25 and if it reaches $1.00. My lowest purchase price to date is $1.08. If we have reached the bottom I already have plenty of shares.
Go FnF!
I have already mastered igpay atinlay. Also a little pidgeon english.
Go FnF!
He did just come back from India. I am sure (trade) was a topic.
This bug has reinforced my opinion that anything is possible. Russia and China are ganging up on us. Just kidding, sort of.
Go FnF!
Just a typical week in Bizarro World
Go FnF!
I do not know about the e.o.d. weakness but what do you think about tomorrow going into the weekend? Market was up and FnF ended down/flat. I do not think we will have an up day tomorrow with all of the possibilities of imaginative bad news that we could find out before Monday. Also two market up days in a row seems improbable. I will place my buy orders at $1.25 and $1.00 and watch. I don't want the price to drop and I don't need more shares but filling that low will be a consolation.
Go FnF!
Federal Reserve launches emergency effort to support money-market funds
https://www.cbsnews.com/amp/news/federal-reserve-money-market-funds-rescue/
Fannie Mae capital rule delayed to late May
https://www.valuewalk.com/2020/03/fannie-mae-capital-rule/
I don't mean to be a Debbie Downer. It seems there will be more buying opportunities today as we test the 52 week low of $1.56 early this a.m. I am still holding. I am also holding out for $1.25 to buy more. I have another buy in for $1.00. I truly will be happy if neither fills.
Go FnF!
Coronavirus crisis: Fannie Mae, Freddie Mac and HUD to suspend foreclosures through April
https://amp.usatoday.com/amp/2866184001
I think the floor reading will be closed but electronic trading will be open
Thanks Navy
Thank you
I hope the sarcasm is evident. I like old folks I want to be one some day.
Sure, let the grandkids kill off Grampa and Grama. Let the surviving carriers pass it to the weak and infirm.
Go FnF! Go away old folks
You are shorting because you brought covid-19 back with you. You really are good at this!
Go FnF!
Vodka kills Covid-19!
Go FnF!
WHO offered a research test unfit to test patients. There was almost a 50% false positive result. FDA would not accept the low quality WHO test.
Go FnF!
That is an interesting point of view. I like it but... Wouldn't the administration have even more leverage (of some type) to keep those documents out of public view. I used the word leverage because I have no idea if invoking (for instance) the Stafford act allows Trump emergency powers through some obscure clause to keep the documents hidden from the general population. Or maybe some other emergency powers declared by a sitting president in the past.
So the question is, can anybody think of an emergency power that will keep the docs secret?
Some buying around there right now
NYSE required all employees on the trading floor to be questioned and scanned this morning before entry. They will trade in hazmat suits if necessary.
Down 24.5 cents at the first C/B popping. I am in a weird place right now. I want $1.00 shares but I don't need them. I guess I am a greedy S.O.B. In my opinion it is all very temporary knee jerk reaction that we can all rely on. Every time!
Go FnF!
Thumbs up. Total agreement. Golf clap.
Go FnF!
Your strategy is sound. There are great opportunities out there and Fannie has always been a gamble for me not an investment.
Fannie is my dark horse. I am sticking with her as a long shot.
Go FnF!
(Prediction)Market opens in 30 minutes due to a 15 minute halt at the open. Then later today there will be a reversal.
I have a buy order in to add to my position at $1.00. I may adjust buying price depending on today's cliff jumping. My opinion, I think this is not over but it is temporary. 6 months from now I will be very happy.
Go FnF!