I have news for you, and I hope that I’m not bursting anyone’s bubble here. If a meat packer could sell the delicious looking meat that you see in the background in ads for hamburger at $15/pound, do you really think they’d put it into $4/pound ground beef, or $2/pound hot dogs? Yes, numbers can tell a story, like it or not. How about this nifty map, great for loan officers and real estate agents and discovered in my email files, showing the population shift in the United States during the last ten years? Continuing with the numbers theme, today only 10 percent of U.S. mortgage borrowers have adjustable-rate mortgages, and that number was 40 percent in 2008. In terms of our biz, today’s higher mortgage rates only impact new buyers and borrowers. Existing fixed-rate home loan borrowers are insulated from increases in short-term interest rates. “Let the Fed do what it will!” Lastly, Rocket gave the world a lot of numbers yesterday in the form of
Freddie Mac Appoints Sonu Mittal to lead Single-Family Acquisitions Division streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Freddie Mac announced Tuesday it has promoted company veteran Kevin Palmer to head its Multifamily business. He will serve as a member of the company’s Senior Operating Committee and report to company President Mike Hutchins. Palmer begins in the new position on May 9. He has been with the company since 2001 and worked in a variety of positions, most recently as senior vice president for Single-Family Portfolio Management, overseeing pricing, servicing, credit risk transfer, and various other capital markets and risk management activities.