Hoevel's Blog

Yep, it's been a while since I've posted, but I'm going to try to keep up with it this year so let's get into some news of the day:

Citigroup is not having a good day writing off about 10 Billion in losses in the 4th quarter. To make our business worse, they are blaming it squarely on the subprime market.

Even with Countrywide being acquired by BofA, there are still a few questions that are being asked.

The city of Cleveland is suing 21 banks, saying that their subprime practices have caused a nuisance and destroyed home values throughout the city.

With all of this, mortgage applications were up last week.

And finally to give our business some help, this article says that mortgage rates have dropped below 6%.

That's about it for now, and just think, in about two months we could be playing golf. I hope...