Monday, October 17, 2011

Refinance America: In Defense of American Capitalism

You were sent this email because you opted to receive daily updates from Mortgage News Daily. To adjust your email settings:
Manage Your Email Subscriptions Individually  |  Unsubscribe from all Email Communications

Oct 17, 2011 12:19PM

Refinance America: In Defense of American Capitalism

In Saturday's New York Times, Martin S. Feldstein, in an Op Ed entitled " How to Stop the Drop in Home Values ", argues that continuing declines in home prices are at the heart of America's housing crisis and can only be stopped through a government plan that reduces borrowers' mortgage principal … "when it exceeds 110 percent of the home(s) value." Mr. Feldstein's plan of government sanctioned loan forgiveness would neither stem declines in...

Oct 17, 2011 4:54PM

Mortgage Rates Continue Pattern of Volatility

Volatility worked agains us on Friday, but in our favor today. After being pushed to the edge of their recent range on Friday, Mortgage Rates eased back slightly lower to begin this week. There's been a bit of ping-pong going on as Best-Execution vacillates between 4.125 and 4.25. Today's improvement brings Best-Ex solidly down to 4.125%, but it should be noted that pricing varies quite a bit from lender to lender right now. Today's Rates: BESTEXECUTION 30YR FIXED - 4.125% - lots of variation in...


Micro News

4:00 PM:

Solid Pace of Economic Events Continues with PPI, Bernanke

3:16 PM:

Potential Reprices if You Haven't Seen Them Already

12:27 PM:

Federal Reserve Board approves final rule implementing the resolution plan requirement of the Dodd-Frank Act

12:00 PM:

Recap of Overnight News Helping Bond Markets

10:44 AM:

Fannie 3.5's Break the 101 Barrier

9:56 AM:

Economy at a Crossroads According to Fannie Mae's Economics & Mortgage Market Analysis Group

9:24 AM:

ECON: Industrial Production Rises 0.2 pct as Expected

8:46 AM:

MBS Open Flat. Little Changed Following NY Fed Data

Around the Web

Video News

Bank Fee Revolt-Credit Union Boom?

The Big Picture for Global Banks

Fixing the U.S. Mortgage Market


Today's Comments

michael hummel

"Totally agree with you comments. I have been constantly warning my LO's about repeat of last year and have been locking our pipe quickly because of..."

Curt Sandfort

"I sell USDA-RD loans directly to CHASE. I don't have a relationship with their other govvie and conventional lines, but for some reason they deal with..."

Ken Crute

"when I hear, "but the paper said... " my response has been "well call the paper and ask them for a loan at 3% with no closing costs""

Today's Q&A

"What happens if I stop paying my second mortgage?"

"Why would mortgage company charge application fee?"

"Why do i need to provide my w9 to my mortgage company?"