Tuesday, September 7, 2010

Housing Crisis Needs Localized Approach, Not "One Size Fits All" Solution

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Top Stories      
Eric Rosengren, president of the Federal Reserve Bank of Boston, told attendees at a Federal Reserve sponsored conference on REO and Vacant Property Strategies... - MND NewsWire
You've earned back much of what you lost on Friday, but I would remain defensive of rebate improvements until 10s break 2.645% resistance and stocks confirm... - MBS Commentary
Zero-down programs - why not?! Jumbo market stirrings; HUD & agency updates; does the value of servicing warrant retaining it? - Pipeline Press
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MBS Quotes
FNMA 4.0 103-09 0-16
FNMA 4.5 104-29 0-10
FNMA 5.0 106-03 0-04
FNMA 5.5 106-27 0-01
FNMA 6.0 107-18 0-01
Updated: 9/7/10 4:35 PM
Treasuries
3 MO 0.1247 0.0000
2 YR 0.4785 -0.0317
5 YR 1.3968 -0.0852
10 YR 2.5962 -0.1063
30 YR 3.6616 -0.1221
Updated: 9/7/10 4:56 PM
Mortgage Rates
30 Yr FRM 4.35 -0.03
15 Yr FRM 3.75 -0.02
FHA 30 Year 4.37 -0.03
Jumbo 30 Year 5.54 -0.02
5/1 Yr ARM 3.49 -0.03
Updated: 9/7/10 4:18 PM
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Can Money Buy Happiness?
9/7/2010
A new Princeton survey puts a number to the amount of money that can actually buy happiness, with Terry Lyles, "Stress Doctor."
Housing Market: Prop it Up or Let it Fail?
9/7/2010
Anthony Sanders, a real estate professor at George Mason University, and David Crowe, chief economist at the Natl. Association of Home Builders, share...
Manhattan Real Estate Market Making Comeback
9/7/2010
The Manhattan real estate market is coming back, thanks in large part to condo investors. CNBC's Diana Olick has the details.

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Recent Comments
Adam Quinones
on 9/7/2010 - read this comment
based on the uptick in prepay speeds on recent vintage MBS, your colleagues are re-refinancing clients they've closed in the last 20 months. Mine your database everyone!
Larry Gray
on 9/7/2010 - read this comment
Now if I can get off my "comfortable level of contentment with business" and call up many clients over the years I have not gotten around to calling...rates really are low, low, low! I know....
Jason Harris
on 9/7/2010 - read this comment
I am sure everyone has a similar story but here is mine. Closed a $450K high balance at 4.875% in June. Customer had a 748. Now wants to refi and due to a $60 cell phone collection hitting her bureau she...
Patty Robinson
on 9/7/2010 - read this comment
I can not agree with you more it is so nice to hear from someone who actually makes sense. The time for the "bandaides" are over we need to get back to basics the way we underwrote before these...

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Posted by Tommy Wyman at 2:23 PM