Friday, October 21, 2011

Rates Steady; How to Shop for a Mortgage

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Oct 21, 2011 1:35PM

How to Shop for a Mortgage

After hitting record lows of 3.94% with 0.8 points the week of October 3, rates are up .375% in the past two weeks. And while rates are still extremely low, refinancers and homebuyers are always looking for the lowest. A primary reason rates rose is market optimism about Eurozone leaders acting more forcefully to contain problems with insolvent member nations like Greece. Eurozone issues are also a big reason rates got so low. Here's why: If one or more Eurozone nations defaulted on their debts,...

Oct 21, 2011 2:40PM

Mortgage Rates Steady Today. Threat of Volatility Remains

Even the presence of volatility is volatile. Here yesterday, gone today. But "volatility of the presence of volatility" sounds too much like calculus to discuss any further. Suffice to say, Mortgage Rates didn't move much today. Some lenders are microscopically higher or lower in terms of closing costs, but Best-Execution remained the same. But before you consider what today's rates are, CONSIDER THIS. Today's Rates: BESTEXECUTION 30YR FIXED - 4.125% some at 4.25% FHA/VA - More 3.875% today, 3.75...


Micro News

11:10 AM:

LPS: September Month-End Data Shows a Decline in the Delinquency Rate and Increase in Foreclosures

11:09 AM:

Reprice Risk Fades as MBS Outperform. 101-00 Support for 3.5's

10:58 AM:

NAHB: Statement from Chairman on Senate Action to Reinstate Loan Limits

10:22 AM:

Potential Reprices for the Worse or Delayed Rate Sheets

10:18 AM:

Fed MBS Reinvestment Focuses Primarily on 3.5 Coupons

9:23 AM:

Fed's Tarullo: Fed Should Buy MBS Outright Again

8:55 AM:

Quiet Night, Flat Morning. No Data. Loan Limits Up? Fed Buying?

11:18 PM:

New FHA Mortgagee Letter 2011-37

Around the Web

Video News

Should You Bank on Bonds?

Are Home Sellers Selling Too Fast?

Tackling Real Estate Opportunities


Today's Comments

Jon

"Thanks Andrew. Do we have any read on the percentage of Bulls vs. Bears for Bonds? You can' help but think that Euroland is going to do some kind of..."

Andrew Horowitz

"Jon, if you go back to the 13th it looks like we could be in the beginning stages of an upward 5th wave. Although also looking at it under short term technicals..."

Jon

"Can someone apply a bit of Elliot Wave theory to the recent trends in 10's and MBS?"

Today's Q&A

"How do loan points work? "

"Can I be my own general contractor, build my own house, then sell it immediately in NC"

"How long will a mortgage default sit on my credit?"