Home Loans Mortgage: Mortgage Rates: Bleeding Stopped

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Feb 9, 2011 5:54PM

Mortgage Rates: Bleeding Stopped

This is gonna be one of those "GOOD NEWS/BAD NEWS" sorta days. The good news is... The mortgage rate losing streak has come to an end at 5 days. Celebrations are acceptable. Even if it's just a fist pump. Nervous tensions were moderately relieved in the secondary mortgage market today. We've backed away from a ledge. For now. Reprices for the better were reported today! (Repricing for the better = improved borrowing costs) The bad news is.... There was a 5 day losing streak in mortgage rates. Stopping...

Feb 9, 2011 10:24AM

Refinance Demand Dips as Mortgage Rates Reach 10-Month High

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending February 4th, 2011. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a falling mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out lower monthly...

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Micro News

5:22 PM:	In Addition To The Auction, Tomorrow's Economic Calendar Gets More Robust.
3:35 PM:	Bonds Holding Support Levels After Hours
3:05 PM:	MBS Reach Best Levels Of The Day! More Potential For Reprices
2:57 PM:	White House Confirms Friday Release of GSE White Paper
2:56 PM:	ABA Makes Recommendations on Future of GSEs
1:48 PM:	Reprices For The Better Reported, Bond Market's "Uphill Battle" Is Evident
1:08 PM:	Hugely Positive 10yr Auction Sends Bond Prices Soaring
11:36 AM:	Bernanke on GSE Reform

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Today's Comments

	"I don't know why they bother inconveniencing Ben with these meetings. I mean what can the politicians really do? Do they really think they can somehow..."
	"Snowballing selling is a liquidative "duration shedding" phenomenon associated with extension risk in the bond market. Snowballing matters because..."
	"President of the Fed Reserve Bank of Richmond, home-ownership may be a laudable goal, he said, "but if that is our objective, we should subsidize..."

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Today's Q&A

	"Assuming very good credit before retirement, is it difficult..."
	"is a truth in lending required when the subject property is non..."
	"If you have a first and second mortgage can you refi the first..."

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Today's Forum Discussions

	"Loan Scenario View All Post A Scenario Loan State: Texas Loan County: --- Loan Type: Construction Loan Amount: $700,000 Property Value: $3,200,000 LTV..."
	"If you are considering leaving the business due to reduced income, regulatory changes, and licensing issues consider being a part time mortgage originator..."
	"Loan Scenario View All Post A Scenario Loan State: Alabama Loan County: --- Loan Type: Refinance (Rate and Term) Loan Amount: $138,000 Property Value:..."