Monday, September 24, 2012

Already At All-Time Lows, Rates Continue Lower At Unprecedented Pace

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Sep 24, 2012 2:05PM

Already At All-Time Lows, Mortgage Rates Continue Lower At Unprecedented Pace

Mortgage rates begin the week at new all-time lows yet again after falling significantly from last week's series of previous all-time lows. Markets have been quite calm during domestic hours, but interest rates moved slightly lower overnight before domestic trading hours. With bond markets holding steady to slightly improved since then, mortgage lenders continue to pass on those improvements in the form of more aggressive rate sheets. Despite recent press indicating that QE3 isn't affecting mortgage...

Sep 24, 2012 2:16PM

OIG Finds GSEs at Risk from Counterparties; Advices Contingency Plans

The Federal Housing Finance Agency's Office of Inspector General ( FHFA OIG ) has recommended that FHFA issue standards for the two government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to develop contingency plans for its high risk sellers and servicers and finalize its examination guidance regarding contingency planning. FHFA OIG recently looked how well FHFA is managing and overseeing the GSEs in areas related to the risk posed to the GSEs by their sellers and servicers (counterparties...


Micro News

12:51 PM:

Eerily Quiet Session Continues, MBS Inch A Few Ticks Higher

9:04 AM:

Bond Markets Slightly Stronger Overnight On EU Data

3:06 PM:

Fannie 3.0's Set To Close At All Time Highs, But Off Best Levels

12:48 PM:

MBS Continue Pushing All-Time Highs; Ongoing Positive Reprice Potential

9:30 AM:

MBS Outperforming Early Amid Lack Of Data, Treasury Weakness

1:11 PM:

Record Negative Yield 10yr TIPS Means Pressure On MBS, But Not Panic

12:07 PM:

ECON: Household Debt Rises At Fastest Rate Since Q1 2008

10:43 AM:

MBS Hit Highs Near Rate Sheet Time, Increasing Defensiveness

Around the Web

Video News

High-End Foreclosures Start to Fall

The Housing Disconnect

Eli Broad on Taxing the Wealthy, U.S. Housing


Today's Comments

Ted Rood

"Gosh, lax oversight and shoddy underwriting on a HUD program, what a surprise. If 76% of the 80 claims sampled contained material errors, have to expect..."

Frank Ceizyk

"Rick-so well said. The entire boom was driven by fast money schemers who realize how easy it was to game price valuations from automated systems that couldn't..."

Rick Baron

"Sensible alludes to common sense, and underwriting software doesn't have common sense. Software is only as good as its programmers, and 10 years ago..."

Today's Q&A

"When is closing confirmed"

"What's the best kind of transfer for real estate from parent to adult child?"

"HARP Refi - 15 year - 3% with $3200 closing costs scheduled to close tomorrow. Cancel and wait?"