Home Loans Mortgage: Mortgage Rates: Debt Ceiling Decision Time

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Jul 29, 2011 6:14PM

Mortgage Rates: Debt Ceiling Decision Time

I have some unexpected good news Amidst an atmosphere of major market uncertainty, consumer borrowing costs improved significantly today. Enough to push BestExecution quotes a notch lower. In the chart of Consumer Rate Quotes below, if the line is moving up, closing costs are on the rise. If the line is moving down, costs are on the decline. More recently consumer borrowing costs have crept higher, that is until today when costs dipped following a poor read on 2nd quarter GDP. Mortgage rates are...

Jul 29, 2011 10:06AM

"Qualified Residential Mortgage" on the Hot Seat

Check out my twice-a-month blog at the STRATMOR Group web site located at www.stratmorgroup.com. The current blog takes a look at QRM and shares doubts about its passage. Below is the text. If you have both the time and inclination, make a comment on what I have written, or on other comments so that folks can learn what's going on out there from the other readers. Early in June we discussed the provisions of QRM ("QRM" stands for "Qualified Residential Mortgage"). It is an...

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Micro News

5:08 PM:	Fannie Mae Suspends RMIC Approval
4:34 PM:	Realtors Urge Action on Debt Ceiling
4:33 PM:	Dennis Lockhart: Two Views of the Economy
4:21 PM:	PHH Corp. Announces Results for Q2 2011
3:50 PM:	The Week Ahead: Directional Volatility Expected
3:28 PM:	FHA's Mortgagee Review Board Takes Action Against 240 Lenders
10:17 AM:	ECON: Home Vacancy Rate Eased in Q2
8:54 AM:	ECON: Q2 Advance GDP Misses the Mark. Spending Flat

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Around the Web

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Video News

	Bond Traders Meet at NY Fed
	Q2 GDP Advance: Up 1.3%
	What's the Matter with Banks?

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Today's Comments

	"I would hate to be hedging a pipeline in this environment"
	"This activity may be a deceptive one, for example in NJ where most lenders have refrain from proceeding with Foreclosures due to their fear of what the..."
	""A sale is listed as pending when the contract has been signed"--just curious if this means that the contract is fully executed by all of the..."

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Today's Q&A

	"Is real estate tax Paid "in advance" or for the past..."
	"I have excellent credit rating/score/history but low income,..."
	"I stopped paying my mortgage for 9 months but it has been a year..."

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Today's Forum Discussions

	"Wasn't sure after the recent change if low LTV 15 year deals would still have monthly PMI."
	"Hello all, I, like most other soon to be home buyers, am wondering if I should lock right now. For me it's not just a question of shaving a 100th of..."
	"Floridas No 1 Hard Money Lender to 50% rates from 11% to 12.99% http://www.floridahardmoney411.com 8135165210 Owner Occupied Yes, Loans under 100K yes..."