Tuesday, September 28, 2010

RUMOR: Rapid Refinance Loan Modification Plan to be Introduced in Congress

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HomeToday's HeadlinesATWForumsQ&AMortgage Rates 
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The legislation would allow for blanket 30-year, fixed-rate mortgages at the prevailing market rate, now around 4.3 percent, for anyone seeking to refinance... - MND NewsWire
It happened yesterday but I didn't make a big deal about it because I wanted to see how lenders would play it out today. Then it happened again today... - MBS Commentary
The NAHB estimates that for every 1 million homes not built (1.7 million built in 2005; 700,000 in 2008) more than 3 million jobs are lost be they carpenters... - Voice of Housing
jeffer90576
MBS Quotes
FNMA 4.0 103-00 0-02
FNMA 4.5 104-05 -0-03
FNMA 5.0 105-12 0-00
FNMA 5.5 106-11 0-00
FNMA 6.0 107-14 -0-04
Updated: 9/28/10 4:33 PM
Treasuries
3 MO 0.1600 0.0302
2 YR 0.3700 -0.0458
5 YR 1.2500 -0.0361
10 YR 2.4800 -0.0442
30 YR 3.6600 -0.0581
Updated: 9/28/10 5:42 PM
Mortgage Rates
30 Yr FRM 4.31 -0.05
15 Yr FRM 3.72 -0.06
FHA 30 Year 4.35 -0.05
Jumbo 30 Year 5.52 -0.04
5/1 Yr ARM 3.56 -0.06
Updated: 9/28/10 7:14 PM
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Recent Comments
Shawn Moore
on 9/28/2010 - read this comment
I am a current home owner. I have been reading this website for awhile to try and get a better understanding of what is actually going on in regard to mortgages and I value what the people in the industry...
Tom Bangert
on 9/28/2010 - read this comment
Investor overlays kill the governments plans,eg. ltv, credit scores , appraisals, etc. Good idea that never makes it to reality. Would pump a lot of money into the economy. John hits the nail on the head...
John Balmer
on 9/28/2010 - read this comment
Same old story, just get ready for all your borrowers who say they heard about ths loan program and you have to tell them no investors/lenders are doing them. Until the govt. can control lender overlays...
Andy Pada
on 9/28/2010 - read this comment
125% LTV is arbitrary. Why shouldn't we be allowed to refinance any existing agency loans? Additionally, the real issue is the MI companies who are not permitting transfer of MI on any Refi Plus or...

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