Thursday, August 23, 2012

Mortgage Rates Continue Strong Move Down; Interesting Product Mix Stats

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Aug 23, 2012 3:34PM

Mortgage Rates Continue Strong Move Down. Running Out Of Steam?

Mortgage Rates proceeded lower again today, adding on to the already substantial improvements from yesterday. Some of the gains reflect additional lender reprices after yesterday's RateWatch article was published, though rate sheets generally improved again today by an equal amount. Best-Execution for 30yr Fixed Conventional Loans has QUICKLY regained the 3.5% territory with some lenders already viable at 3.375%. (Read More: What is A Best-Execution Mortgage Rate? ) The fact that we've gotten back...

Aug 23, 2012 11:34AM

Interesting Product Mix Stats - What do they Tell Us About Borrowers, Ops, and Future Fundings?

I was in Kansas yesterday, and saw a sign, "Ladies, if a man says he is going to fix something, he will. There is no need to remind him every six months about it." But being reminded once in a while is a good thing. Jeffrey Parks with RPM in Southern California wrote, "Not much has been said about the plight of the First Time Buyer but it is a big problem that needs addressing. We have always considered this borrower to be the lifeblood of the real estate industry because, in most cases, their purchase...


Micro News

1:35 PM:

Clearly Coasting Upon Finding The Coast To Be Clear

10:11 AM:

ECON: Home Prices +0.7 Percent In June, +3.6 Year Over Year

10:05 AM:

ECON: New Home Sales Slightly Higher Than Expected

10:01 AM:

Freddie Mac: Fixed Rates Move Higher for Fourth Consecutive Week

9:07 AM:

ECON: PMI Continues To Signal Weak Manufacturing Expansion

8:58 AM:

Bond Markets Open In Relatively Unchanged Territory. Claims Help Slightly

8:37 AM:

ECON: Jobless Claims Higher Than Expected

2:30 PM:

Bigger Moves Now. New Highs For MBS On The Day.

Around the Web

Video News

Paul Ryan on Fiscal Cliff

Santelli's Morning Bond Update

Fed's Bullard: Banks Need Competition


Today's Comments

Victor Burek

"all we have to do is find 1000 more companies like AIG to bailout and we could pay off the national debt."

Gina Pogol

"Well, there should be some consequences if you dump the deficiency on the lender. If you sign a promissory note and did not skip mortgage payments, they..."

Ted Rood

"Great that borrowers won't be forced into deliquency to do a short sale, but they'll still face issues getting a new mortgage. This could fix 1..."

Today's Q&A

"Home mortgage for felons"

"Are there companys that will manage a loan thru private parties?"

"Getting Individual Health Insurance For Self Employed?"