Mortgage Rates: Debt Ceiling Decision Time

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Jul 29, 2011 6:14PM Mortgage Rates: Debt Ceiling Decision Time I have some unexpected good news Amidst an atmosphere of major market uncertainty, consumer borrowing costs improved significantly today. Enough to push BestExecution quotes a notch lower. In the chart of Consumer Rate Quotes below, if the line is moving up, closing costs are on the rise. If the line is moving down, costs are on the decline. More recently consumer borrowing costs have crept higher, that is until today when costs dipped following a poor read on 2nd quarter GDP. Mortgage rates are... Jul 29, 2011 10:06AM "Qualified Residential Mortgage" on the Hot Seat Check out my twice-a-month blog at the STRATMOR Group web site located at www.stratmorgroup.com. The current blog takes a look at QRM and shares doubts about its passage. Below is the text. If you have both the time and inclination, make a comment on what I have written, or on other comments so that folks can learn what's going on out there from the other readers. Early in June we discussed the provisions of QRM ("QRM" stands for "Qualified Residential Mortgage"). It is an... Revisiting Originator Compensation; Bank of America Faces New Lawsuit; Industry Earnings; Regulatory Conflict MBS RECAP: New 2011 Price Highs FHFA Sues UBS to Recover GSE Mortgage Losses Seasonal Factors Lift Home Prices. Temporary Gains? Realtors Report Uptick in Sales Contracts, Nervous About Cancellations Foreclosure Activity Drops in First Half of Year View: Front Page | Headline Viewer Micro News 5:08 PM: Fannie Mae Suspends RMIC Approval 4:34 PM: Realtors Urge Action on Debt Ceiling 4:33 PM: Dennis Lockhart: Two Views of the Economy 4:21 PM: PHH Corp. Announces Results for Q2 2011 3:50 PM: The Week Ahead: Directional Volatility Expected 3:28 PM: FHA's Mortgagee Review Board Takes Action Against 240 Lenders 10:17 AM: ECON: Home Vacancy Rate Eased in Q2 8:54 AM: ECON: Q2 Advance GDP Misses the Mark. Spending Flat »View All Micro News Around the Web Housing Starts: Impact of Changes in Household Size Bailout Watchdog Says Homeowners Shortchanged Behind the Numbers: Pending Home Sales Rise Jobless Rate, Tight Lending Hamper Home Builders Moving Forward: Building assets through subsidized rental housing A Strong Housing System Relies on a Solid Foundation »View More Around the Web Video News Bond Traders Meet at NY Fed Q2 GDP Advance: Up 1.3% What's the Matter with Banks? »View More Video News Today's Comments "I would hate to be hedging a pipeline in this environment" "This activity may be a deceptive one, for example in NJ where most lenders have refrain from proceeding with Foreclosures due to their fear of what the..." ""A sale is listed as pending when the contract has been signed"--just curious if this means that the contract is fully executed by all of the..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Wasn't sure after the recent change if low LTV 15 year deals would still have monthly PMI." "Hello all, I, like most other soon to be home buyers, am wondering if I should lock right now. For me it's not just a question of shaving a 100th of..." "Floridas No 1 Hard Money Lender to 50% rates from 11% to 12.99% http://www.floridahardmoney411.com 8135165210 Owner Occupied Yes, Loans under 100K yes..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.59 -0.07 15YR 3.74 -0.06 FHA30YR 4.34 -0.02 Jumbo30YR 4.96 -0.04 5/1ARM 3.25 -0.02 MBS Quotes FNMA 3.5 97-24 1-01 FNMA 4.0 101-18 0-25 FNMA 4.5 104-12 0-18 FNMA 5.0 106-22 0-11 Treasuries 2 YR 0.3593 -0.0627 3 YR 0.5342 -0.1308 5 YR 1.3508 -0.1782 7 YR 2.0896 -0.1434 10 YR 2.7925 -0.1625 30 YR 4.1237 -0.1373 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

Realtors Report Uptick in Sales, Nervous About Cancellations

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Jul 28, 2011 2:44PM Realtors Report Uptick in Sales Contracts, Nervous About Cancellations Pending real estate sales had another strong showing in June according to the Pending Home Sales Index (PHSI) released today by the National Association of Realtors® (NAR). The Index, a forward-looking indicator based on home sales contracts, rose 2.4 percent to 90.9 in June, following an 8.2 percent increase to 88.8 in May. The June figure is 19.8 percent above the 75.9 percent number one year earlier, a trough period immediately following the expiration of the home buyer tax credit. The PHSI... Jul 28, 2011 2:15PM Foreclosure Activity Drops in First Half of Year Almost 85 percent of large cities showed a decrease in foreclosure activity during the first six months of 2011 according to the Mid-year 2011 Metropolitan Foreclosure Market Report released on Thursday by RealtyTrac. This includes the ten cities with the highest foreclosure rate among the 211 metropolitan markets covered by the report and all but one of the top 20. RealtyTrac 's report usually incorporates documents filed in all three phases of foreclosure. This midyear summary does not break out... Treasury Shares Plan for Leadership Transition at CFPB How Debt Ceiling Issues Impact Fannie Mae and Freddie Mac; Bankruptcy Mortgage Project; Chance to Buy REITs? Mortgage Rates: Anything Can Happen FHFA Sues UBS to Recover GSE Mortgage Losses MBS RECAP: Total Reversal Plus More MBS MID-DAY: Recovering Losses View: Front Page | Headline Viewer Micro News 3:38 PM: Is Friday Too Soon to Begin Resolving Recent Volatility? 3:05 PM: Fed Readies Debt-Limit Guidance for Financial Firms 3:03 PM: Lacker: Fed May Require More US Bonds To Back Loans 1:45 PM: Theme of Muted Responses to Economic Events Continues Post-Auction 12:10 PM: MND Outlook on Debt Ceiling Debate 12:06 PM: Justice Department presses Wells Fargo on loans 12:05 PM: Facing criticism, MERS cuts role in foreclosures 10:01 AM: ECON: June Pending Home Sales Rise 2.4 pct »View All Micro News Around the Web Balancing transit dreams with housing needs Moving Forward: Building assets through subsidized rental housing A Strong Housing System Relies on a Solid Foundation FSOC Warns Further Housing Legislation Could Damage Fragile Housing Market Chase, BofA Offer Modifications Without Homeowner Request Vacant Homes Will Drown Housing Recovery »View More Around the Web Video News What's the Matter with Banks? Call to the Floor: PulteGroup CEO Jobless Claims in U.S. Fell Last Week to Three-Month Low »View More Video News Today's Comments "Gino - One problem with your first comment: The lenders didn't sell the homes, they just financed them. Now, I agree that when they loaned the money..." "What everybody needs to do is sue their lender and audit them for selling homeowners under value homes" "For some reason I'm beginning to wonder if the negative feedback loop isn't by design. I keep going back to my 'elementary school' days..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Cash Out Refinance Loan Amount: $550,000 Property Value: $800,000..." "Hello All, I'm new here. For the past few days I have been waiting on when it is the best time to lock in a rate. As of yesterday the rates have dropped..." "I'm a Mortgage Broker looking for funding sources here in California. Do you accept or work with Brokered loan Packages? I generate conforming loans..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.66 -0.04 15YR 3.80 -0.02 FHA30YR 4.36 -0.04 Jumbo30YR 5.00 -0.04 5/1ARM 3.27 -0.04 MBS Quotes FNMA 3.5 96-24 0-19 FNMA 4.0 100-25 0-16 FNMA 4.5 103-26 0-12 FNMA 5.0 106-11 0-07 Treasuries 2 YR 0.4222 -0.0238 3 YR 0.6650 -0.0270 5 YR 1.5293 0.0063 7 YR 2.2328 -0.0292 10 YR 2.9546 -0.0274 30 YR 4.2611 -0.0279 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

FHFA Sues UBS to Recover GSE Mortgage Losses

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Jul 27, 2011 5:01PM FHFA Sues UBS to Recover GSE Mortgage Losses UBS Americas Inc., several of its subsidiaries, and four former executive officers were sued Wednesday morning in U.S. District court for the Southern District of New York. The Federal Housing Finance Agency (FHFA) brought suit charging violations of securities laws in the sale of private label residential mortgage-backed securities (MBS) to government sponsored enterprises (GSEs) Freddie Mac and Fannie Mae. FHFA sued as conservator of the GSEs and seeks a jury trial in an attempt to recover losses... Jul 27, 2011 5:06PM Mortgage Rates: Take Cover Although the BestExecution quotes didn't change today, the borrowing costs associated with those rates rose enough to erase yesterday's improvements, plus more. Markets currently hang on every headline regarding the debt-ceiling debate (not exclusively, but disturbingly close). This makes the securities that govern home loan pricing especially volatile and unpredictable. Rather than change rate sheets with each rapid movement in the secondary market, it's not only easier on all parties involved,... Lenders Prepare for Lower Loan Limits; FHLBs Launch Salvo Against BofA; Several Investor Bulletins Seasonal Factors Lift Home Prices. Temporary Gains? New Home Inventory Shrinking as Construction Stagnates Loan Demand: Refi Index Near 2011 Highs MBS RECAP: Poor Performance MBS MID-DAY: All Over the Place View: Front Page | Headline Viewer Micro News 4:14 PM: Thursday has Econ, Auction, Fed, but Debt-Debate Trumps All 3:25 PM: Beige Book: Economic Wheel Spinning 1:43 PM: FHFA Sues UBS to Recover Private Label MBS Losses 1:25 PM: 5yr Auction Nominally Weaker Than Yesterday's 2yr 10:06 AM: Quarter Point Swings in Both Directions! MBS Back to Highs. 8:42 AM: Fate of Boehner, Reid Debt Limit Plans Unclear 8:38 AM: Downgrade Could Add $100bln to US Funding Costs 8:31 AM: ECON: Durable Goods Orders Fall on Transportation »View All Micro News Around the Web Mortgage Servicer Settlement Update National Debt Clock Prepared for Multiple Scenarios Sorting Through Lending Costs - Mortgages HUD ANNOUNCES FAIR HOUSING ACCESSIBILITY TRAINING Behind the Numbers: More Ho-Hum for Housing NHC Calls for Elimination of Downpayment Requirement from QRM »View More Around the Web Video News FHFA Sues UBS Shiller Says Austerity Steps Not Promising for Housing Housing: The Good, Bad & Ugly »View More Video News Today's Comments ""Ugh" is right. 3 years ago a friend of mine met with a company that manages foreclosures for large banks. He told me they said they were expecting..." "The choice extends far beyond the standard political speaking points of social safety nets and defense spending. The American consumer is taxed enough..." "If it was me, I would cut my eating out expenditures, maybe cancel my cable, and get a second job - or look to make more money immediately- not down the..." »View More Comments Today's Q&A "Is real estate tax Paid "in advance" or for the past..." "I have excellent credit rating/score/history but low income,..." "I stopped paying my mortgage for 9 months but it has been a year..." »View More Q&A Today's Forum Discussions "Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Cash Out Refinance Loan Amount: $550,000 Property Value: $800,000..." "Hello All, I'm new here. For the past few days I have been waiting on when it is the best time to lock in a rate. As of yesterday the rates have dropped..." "I'm a Mortgage Broker looking for funding sources here in California. Do you accept or work with Brokered loan Packages? I generate conforming loans..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.70 0.04 15YR 3.82 0.03 FHA30YR 4.40 0.04 Jumbo30YR 5.04 0.05 5/1ARM 3.31 0.05 MBS Quotes FNMA 3.5 96-05 -0-13 FNMA 4.0 100-10 -0-12 FNMA 4.5 103-15 -0-12 FNMA 5.0 106-04 -0-11 Treasuries 2 YR 0.4458 0.0508 3 YR 0.6917 0.0397 5 YR 1.5231 0.0411 7 YR 2.2621 0.0391 10 YR 2.9822 0.0272 30 YR 4.2888 0.0068 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031