Wednesday, March 24, 2010

Bank of America to Offer Principal Reduction to Underwater Borrowers

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HomeToday's HeadlinesATWForumsQ&AMortgage Rates  
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Bank of America has announced a new program that will assist delinquent borrowers by reducing principal balances in a two step process. Eligible borrowers... - MND NewsWire
After two days of a boring, low volume driven sideways tight range trading, rates volume has skyrocketed into this sell off with the majority of sell tickets... - MBS Commentary
Benchmark interest rates started rising early in the trading session, before MBS trading officially opened at 8am. Positive Durable Goods Orders data added... - Mortgage Rate Watch
jeffer90576
MBS Quotes
FNMA 4.0 97-00 -1-00
FNMA 4.5 100-06 -0-25
FNMA 5.0 103-09 -0-21
FNMA 5.5 105-15 -0-14
FNMA 6.0 106-20 -0-06
Updated: 3/24/10 4:30 PM
Treasuries
3 MO 0.1400 0.0000
2 YR 1.0800 0.0600
5 YR 2.6200 0.1800
10 YR 3.8400 0.1500
30 YR 4.7200 0.1200
Updated: 3/24/10 5:40 PM
Mortgage Rates
30 Yr FRM 5.02 0.09
15 Yr FRM 4.31 0.07
FHA 30 Year 5.19 0.08
Jumbo 30 Year 6.53 0.07
5/1 Yr ARM 4.06 0.05
Updated: 3/24/10 5:57 PM
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Why making mortgages less attractive could be good for the housing sector, with Rob Cox, Reuters Breakingviews and Michael Menatian, Sanborn Mortgage Corp...

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Recent Comments
Paul Assante
on 3/24/2010 - read this comment
Ok the fact is the purchase market even at a 5% 30 Yr fixed is borderline dismal , as barely qualiofied borrowers debt ratios approach 50% DTI, what will happen if rates hit 6% - 6.5% The Real Estate market...
David Gaffin
on 3/24/2010 - read this comment
So Adam, If not MBS led, and Portugal gets debt rating cut, existing home sales not good, but durables a bit better than expected, shouldn't we be seeing at least status quo, not a major treasury sell...
David Gaffin
on 3/24/2010 - read this comment
Is this the prelude to the fed exiting the market? If so, watch out. My Glass Half Full side says: Hopefully, this is just a big blip that will offer a buying opportunity and recovery. My Glass half empty...
Michael Cromwell
on 3/24/2010 - read this comment
I have been focusing on purchase business for quite some time; ≥2 years. March is turning out to be the slowest month I've had in the business. My entire pipeline is FTHB waiting on short sale approvals...
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