Friday, March 2, 2012

February Housing Scorecard; Mortgage Rates Recover

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Mar 2, 2012 5:23PM

February Housing Scorecard Details Fragility of Market

The February edition of the Housing Scorecard was released by the Departments of Treasury and Housing and Urban Development (HUD) on Friday. In what has become a monthly litany, it said that "the housing market is strengthening although the recovery remains fragile." The Scorecard is essentially a summary of data on housing and housing finance released by public and private sources over the previous month and/or quarter. Most of the data such as new and existing home sales, permits and starts, mortgage...

Mar 2, 2012 2:24PM

Mortgage Rates Recover Appreciably From Yesterday's Weakness

Mortgages Rates were sharply higher yesterday, but have recovered a significant portion of those losses today. The most noticeable movement was actually over the two day period since Tuesday's fairly strong rate sheets. Things began to deteriorate moderately with Wednesday's rate sheets and worsened even more yesterday. Today's recovery gets rates back to Wednesday's levels in most cases while Tuesday remains noticeably better. Even so, it means that 4.0% did not get confirmation as taking over as...


Micro News

1:46 PM:

The Best Kind of "Boring Day" for MBS: Low Volatility Rally

9:26 AM:

MBS and Treasuries Slightly Stronger Overnight. Quiet Session in Progress

3:25 PM:

MBS and Treasuries at Day's Best Levels After Hours

1:59 PM:

Bearish Trend in Bond Markets Has Bulls Against The Ropes

10:13 AM:

ECON: Construction Spending Falls For First Time Since July

10:08 AM:

MERS' Role Upheld by Nevada Supreme Court

10:06 AM:

ECON: ISM Manufacturing Misses Consensus, But Continues to Rise

10:03 AM:

Freddie Mac: 30-Year Fixed Rate Mortgage at 3.90%

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Today's Comments

Frank Ceizyk

"Sung--so you don't think this many homes are underwater?...Adam--completely agree with you...just add to that the flawed valuation method that only..."

Sung Kim

"Corelogic's data is flawed and stale."

Adam Miller

"Until they change the process that is currently in place with asset managers and REO listing agents, the number of homes underwater is only going to increase..."

Today's Q&A

"Can I do an FHA streamline refi from a 30 yr term to a 10-15 yr term with little home equity?"

"Are there any regulations preventing placing a purchased mobile home onto leased land?"

"Why is an appraisal needed 3 months after loan has closed?"