Ocean City, Maryland Mortgage Lenders and Home Loans - Professional Mortgage Services, Inc.

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2014
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2007
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  - Federal Reserve Meeting
    10/31/07
    Today is the second day of the Federal Reserve meeting and most everyone is anxiously awaitng their decision regarding the Fed Funds and Fed Discount rates. The Fed releases this info at 2pm. The marketwide opinion is that they will cut rates .25% on the Fed Funds.
    
    At 2pm, they also rel
  - Countrywide Posts Losses of 1.2 Billion
    10/30/07
    Countrywide announced they would lose 1.2 billon dollars in the third quarter. The loss should come as no surprise, considering that they are the nations largest mortgage lender and have been in the news throughout the last few months detailing the amount of bads loans on their books.
    
    Th
  - Warren Buffet Speaks
    10/29/07
    Warren Buffet, leader of Berkshire Hathaway, shared some of his thoughts this morning on CNBC. Buffet, who is one of the wealthiest men in the world, has pledged over 30 billion dollars to the Gates Foundation, which is a charity founded by Bill Gates and his wife.
    
    Buffet is respected by
  - Another Good Friday
    10/26/07
    Today was another steady day for mortgage rates. Rates remained unchanged from last Friday, and we did see the mortgage bond market maintain its' positive rate outlook throughout the week.
    
    I hope everyone has a great weekend. We have 2 Halloween parties to attend as a family this w
  - September New Home Sales
    10/25/07
    At 10:00 this morning, the September New Home Sales figure was released. Believe it or not, New Home Sales jumped up 4.8%. Comparing this number versus yesterday's Existing Home Sales decline tells me that there are home buyers in the marketplace, but that they are opting to purchase new home
  - September Existing Home Sales
    10/24/07
    Earlier this morning the September Existing Home Sales figure was released, showing a whopping drop of 8.0%. The mortgage bond market rallied briefly on the news and has been able to hold on to it's gains. This is the lowest number for Existing Home Sales in 8 years.
    
    I'm sure
  - A Good Friday for Mortgage Rates
    10/19/07
    Well, another week has passed and it's time for the weekend. A trip to the Pumpkin Patch is on the schedule for tomorrow. Before I go I wanted to let everyone know that mortgage rates improved roughly a 1/4 (0.25) point today. The 10 Year Treasury dropped over 100 basis points today to a rat
  - Seth Tobias
    10/18/07
    I heard some sad news this morning. Seth Tobias, hedge fund manager for Circle-T Partners has died. He managed a very large fund for Circle-T and lived in Florida. Apparently he died of a heart attack, but the interesting news here is that Tobias and his wife had a personal assistant who claims t
- September