Friday, December 2, 2011

Mortgage Rates Improve After Jobs Data; HARP 2.0 Hesitation

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Dec 2, 2011 3:24PM

Mortgage Rates Improve After Jobs Data, But Not Because of it.

Although markets had been focusing on this morning's Employment Situation Report as a high-risk event (and indeed it was), the report was mixed enough that it didn't send either side of the market hurtling recklessly in one direction or the other. Things were actually fairly equivocal until news out of Washington began making rounds that GOP lawmakers would try to prevent increased US participation in the potential IMF bailout of Europe. Mortgage Rates ultimately improved today because of events...

Dec 2, 2011 10:26AM

FHA to Raise Premiums? HARP 2.0 Hesitation; CFPB Status; MI & Investor Updates

What is Barack buying Michelle this year? A little non-owner unit, perhaps, but not thanks to Freddie Mac's HomeSteps , which is owner-occupied only. The real estate sales unit of Freddie Mac launched a sales promotion for its inventory of foreclosed homes in select states. Under the HomeSteps Winter Sales Promotion, HomeSteps will pay up to 3% of the final sales price towards the buyer's closing costs and a 238175,000 selling agent bonus for initial offers received between Nov. 15 and Jan. 31, 2012...


Micro News

1:21 PM:

Fed Long on Transparency. Will Post Pre-FOMC Dealer Surveys

12:58 PM:

GMAC to Stop Some Mortgage Loans in Massachusetts

11:43 AM:

Bonds Surging Now. Talk of Congress Rejecting Increased IMF Role

9:30 AM:

Bond Markets Remain Tentative Following NFP

9:01 AM:

ECON: Household Survey Plus Participation Rate Lead to Big U/E% Drop

8:26 AM:

MBS Open Moderately Weaker as Markets Await Payrolls Print

3:08 PM:

Dataquick: Las Vegas Home Sales Up, Prices Down

2:43 PM:

FHFA: DeMarco Statement on FHFA Oversight of GSEs and FHLBs

Around the Web

Video News

Massachusetts AG Suing BofA

Santelli's Bond Market Update

Wells Fargo CEO Stumpf Speaks Out


Today's Comments

AQ

"An assignment of trade is a tri-party agreement between an Assignor (originator lock desk), an Assignee (correspondent lender) and a broker/dealer where..."

Patrick Nolan

"AOT = assignment of trade, selling servicing rights in batches to the Wall Street investment houses on loans the originator has delivered directly to Fannie..."

Jim Begley

"Ok, I'll bite. What are AOTs and bulk mandatories?"

Today's Q&A

"Having a VA loan can I add my fiancee on the tile of my house?"

"What happened to TDI rates?"

"Retirement community buying "itself" from owners. Do I buy a "share"? "