Thursday, May 20, 2010

USDA Rural Housing Update: Fundings Dry Up Across the Country

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USDA Section 502 Single Family Housing Guaranteed Loans are primarily used to help low-income individuals or households purchase homes in rural areas.... - Community Commentary
In a letter for the New York State Attorney General Today, Activity FHFA Director DeMarco announced that his agency is modifying the enforcement portion... - MND NewsWire
The bottom line is that it's more likely to hold than not. And if you're "playing the range until the range plays you," this is the... - MBS Commentary
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MBS Quotes
FNMA 4.0 99-25 0-18
FNMA 4.5 102-13 0-15
FNMA 5.0 104-28 0-09
FNMA 5.5 106-22 0-09
FNMA 6.0 107-20 0-07
Updated: 5/20/10 4:28 PM
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3 MO 0.1700 0.0000
2 YR 0.7600 -0.0400
5 YR 2.0400 -0.0900
10 YR 3.2500 -0.1100
30 YR 4.1300 -0.1100
Updated: 5/20/10 5:50 PM
Mortgage Rates
30 Yr FRM 4.77 -0.03
15 Yr FRM 4.09 -0.03
FHA 30 Year 4.80 -0.02
Jumbo 30 Year 6.32 -0.03
5/1 Yr ARM 3.76 -0.05
Updated: 5/20/10 5:29 PM
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Recent Comments
Samuel Vail
on 5/20/2010 - read this comment
Great Article John. As a mortgage broker who does a ton of RD loans; you bring out great points and potential problems in the very near future. I've got a lot of borrowers sitting, waiting to hear...
mike eynon
on 5/20/2010 - read this comment
I agree that the quality has gone down significantly. I've seen a home appraise for $400K by one appraiser and $700K from another. I think appraisals are more conservative than accurate.
Kris Davis
on 5/20/2010 - read this comment
Has anyone else noticed an increase in the amount of repairs needed on FHA appraisals?? I have and they mostly are repairs that I did not see in the past. If I was an appraiser and knew that their was...
Adam Quinones
on 5/20/2010 - read this comment
10s were 70bps higher on May 4. Rates have fallen steadily since then...jumping from pivot to pivot with only one significant retest of higher yields. It's different because the market isnt sure how...

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