Mortgage Rates: Tear Down This Wall!

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Jun 3, 2011 4:55PM Mortgage Rates: Tear Down This Wall! On Wednesday we witnessed the second stage of a potentially significant shift lower in home loan borrowing costs. "The Wall" was wavering, teetering in its most precarious position this year, but we needed more proof that it was ready to be toppled. That confirmation could only be granted by today's high-risk event: The Employment Situation Report. We needed to reinforce the rally with a weak jobs report. And that's exactly what we got..... Job growth in May was much weaker than expected. The April... Jun 3, 2011 9:58AM Employment Situation Disappoints. Mortgages Rally You can exhale. Jobs data was even weaker than recently downgraded forecasts. Bonds are rallying, recovering almost all of yesterday's sell-off already.... (Reuters) -Employment growth brakes sharply in May : Employment rose far less than expected in May to record its weakest reading since September, while the jobless rate rose to 9.1 percent as high energy prices and the effects of Japan's earthquake bogged down the economy. Nonfarm payrolls increased 54,000 last month, the Labor Department said... Feedback Needed: Risk Retention Comment Period Almost Expired Another View of the Bond Market Repeating History QRM Restricts Credit and Adds Borrowing Costs, Senators Say Mortgage Bankers Ask FHA to Permit Use of E-Signatures Rehab and Remodeling Boost Construction Spending Case-Shiller Data Confirms Double-Dip in Home Prices View: Front Page | Headline Viewer Micro News 5:32 PM: The Week Ahead: Treasury Auctions, Bernanke, Limited Data 3:25 PM: Reprice Risks Subside as Stocks Fall and MBS Rise 1:20 PM: Why Do Banks Hate Elizabeth Warren? 1:05 PM: Reprices Reported. More Recalls Possible 10:25 AM: ECON: U.S. service sector growth picks up in May-ISM 8:53 AM: Rate Sheets to Benefit from Poor Payrolls Data 8:41 AM: ECON: Job Growth Much Weaker than Expected 4:15 PM: Greece Agrees to Another Bailout. Details Hazy »View All Micro News Around the Web Nearly 1 in 3 Unemployed Out of Work More Than a Year HUD Secretary Donovan: Foreclosure Settlement in a "matter of weeks" Bankruptcy Filings Decline Rowhouse Rehab: 'We Can't Go On' Housing Market to Economy: "I'll Stop When You Stop" Growing Rental Market Benefits Landlords »View More Around the Web Video News Harris Says Jobs Report Points to Fragility of Recovery Realty Check: Relocation Market Alan Greenspan on U.S. Debt »View More Video News Today's Comments "The problem is that those who are in charge of "reforming" the system are the same ones that created the mess in the first place. Plus they clearly..." "Eugenia - Come on, now. Listen to yourself. You said that the loan officer paid someone to lie about your income. That doesn't even make sense. Why..." "'Take down this wall"" »View More Comments 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..." »View More Q&A Today's Forum Discussions "For FREE mortgage calculator tools, including amortization, monthly interest charts and PMI inclusion visit the mortgage interest calculator. The site..." "I have someone chirping in my ear that they have an investor who is doing the VA Streamline program with just a drive-by only. I am a Correspondent lender..." "To register for this free 30 Minute Webinar on Thursday June 2th at 4:00PM EDT please visit: http://www.titlehound.com/enews/webinar_form.php FREE 30 Minute..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.55 -0.02 15YR 3.85 -0.01 FHA30YR 4.24 -0.03 Jumbo30YR 5.00 -0.03 5/1ARM 3.22 -0.04 MBS Quotes FNMA 3.5 97-02 0-09 FNMA 4.0 101-02 0-08 FNMA 4.5 104-08 0-07 FNMA 5.0 106-26 0-05 Treasuries 2 YR 0.4287 -0.0323 3 YR 0.7282 -0.0378 5 YR 1.5994 -0.0526 7 YR 2.2849 -0.0511 10 YR 2.9914 -0.0406 30 YR 4.2260 -0.0210 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

QRM Restricts Credit and Adds Borrowing Costs, Senators Say

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Jun 2, 2011 11:19AM QRM Restricts Credit and Adds Borrowing Costs, Senators Say Over one-third of the current members of the U.S. Senate have written a letter to federal regulators urging they adopt a less restrictive definition of a qualified residential mortgage than has been formally proposed. The bi-partisan group is led by Mary Landrieu (D-LA), Johnny Isakson (R-GA), and Kay R. Hagan (D-NC). The letter, addressed to the heads of the Federal Deposit Insurance Corporation, Office of Comptroller of the Currency, Federal Reserve Bank, Federal Housing Finance Agency, Department... Jun 2, 2011 5:24PM Jobs Data Preview: Expecting Directional Guidance Although Moody's threatened to downgrade the U.S. credit rating again and Greece agreed to another bailout "in principle", which led to a short selling spree early this afternoon and pumped up trading volume even more, profit taking was the name of the game in the bond market today. Scattered reprices for the worse were reported this afternoon after profit taking pushed benchmark Treasuries through key support and almost totally erased yesterday's MBS rally. As mentioned in two... Mortgage Bankers Ask FHA to Permit Use of E-Signatures Post-Closing's Impact on Hedging Costs; Bank Liquidity and Required Reserves; ADP's Accuracy; NMLS Training Mortgage Rates: Seeking Confirmation Loan Disclosure Reform Incomplete without Borrower Education Bond Market Repeating History. False Start Fuels Rally Rehab and Remodeling Boost Construction Spending View: Front Page | Headline Viewer Micro News 5:27 PM: The Day Ahead: Jobs Jobs Jobs 4:15 PM: Greece Agrees to Another Bailout. Details Hazy 1:52 PM: Moody's Issues Warning on U.S. Credit Rating 1:31 PM: Banks and Housing Groups Oppose QRM 11:11 AM: Treasury Announces Next Week's Auction Supply 10:34 AM: Goldman Sachs gets subpoena from Manhattan DA 10:12 AM: ECON: Factory Orders Broadly Lower 8:56 AM: ECON: Jobless Claims Fall Less than Forecast »View All Micro News Around the Web CBO: Fannie, Freddie Guarantees to Cost Government $42 Billion Where Is Housing Headed? Real Estate News: In Washington, a Housing Thaw CoreLogic: Home Price Index increased 0.7% between March and April Financial Lobbying and the Housing Crisis Home-Buyer Tax Credits: Worth the Cost? »View More Around the Web Video News No Jobs on Main Street 'Your Teacher Said What?' New Rules to Hurt Housing? »View More Video News Today's Comments "I have just finished reading the entire thread of comments too. I agree with Frank that the industry needs to get more education to the consumer, however..." "Reading through the posted responses above (my own included) it is sad how easily off course we get. This post was intended to provide a vision of what..." "Free enterprise VS consumer protection. The consumer obviously needs some protection, but without free enterprise we fail to be free. The consumer needs..." »View More Comments 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..." »View More Q&A Today's Forum Discussions "For FREE mortgage calculator tools, including amortization, monthly interest charts and PMI inclusion visit the mortgage interest calculator. The site..." "I have someone chirping in my ear that they have an investor who is doing the VA Streamline program with just a drive-by only. I am a Correspondent lender..." "To register for this free 30 Minute Webinar on Thursday June 2th at 4:00PM EDT please visit: http://www.titlehound.com/enews/webinar_form.php FREE 30 Minute..." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.57 0.01 15YR 3.86 0.02 FHA30YR 4.27 0.01 Jumbo30YR 5.03 0.00 5/1ARM 3.26 0.02 MBS Quotes FNMA 3.5 96-25 -0-19 FNMA 4.0 100-27 -0-15 FNMA 4.5 104-01 -0-10 FNMA 5.0 106-21 -0-05 Treasuries 2 YR 0.4605 0.0235 3 YR 0.7664 0.0454 5 YR 1.6518 0.0568 7 YR 2.3360 0.0680 10 YR 3.0315 0.0875 30 YR 4.2470 0.1050 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

Rehab and Remodeling Boost Construction Spending

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Jun 1, 2011 12:15PM Rehab and Remodeling Boosts Construction Spending in April The Census Bureau and Commerce Department have released Construction Spending data for April 2011. Residential construction spending includes remodeling , additions, and major replacements to owner occupied properties subsequent to completion of original building. It includes construction of additional housing units in existing residential structures, finishing of basements and attics, modernization of kitchens, bathrooms, etc. Also included are improvements outside of residential structures, such... Jun 1, 2011 5:55PM Mortgage Rates: Wall Ready to Tumble We are witnessing the second stage of a significant shift lower in home loan borrowing costs. While these secondary signs are encouraging, they are just another step in what might evolve into a sustained rally in the bond market. That second step toward toppling "The Wall" took place today as Best Execution mortgage rates benefited from continued fears that the economy is not recovering at the pace previously thought. READ MORE UPDATED CURRENT MARKET : The "Best Execution" conventional 30-year fixed... Bond Market Repeating History. False Start Fuels Rally Refinance Demand Plagued by Tight Credit & Falling Home Prices Ginnie Mae Issuance in April; FHA Wholesaler with Limited Overlays ; Account Exec Job Opening; Investor Bulletins MBS RECAP: Payroll Forecasts Cut Case-Shiller Data Confirms Double-Dip in Home Prices Premium Capture Reg Presents Hurdle for Non-Agency Lending View: Front Page | Headline Viewer Micro News 3:10 PM: Payroll Forecasts Slashed After Poor ADP Print 3:07 PM: Profit Taking Seen. Lock Desks Await Loan Supply 12:33 PM: Fed's Pianalto: Labor markets have long way to go 11:38 AM: Loan Pricing: BestEx Improves. Wall Wavering 10:24 AM: MBS Reach New 2011 Highs. Positive Reprices, Delays Possible 10:18 AM: Renovations Lift Construction Spending in April 10:15 AM: Manufacturing Sector Sees Slowest Growth Since Sept 2009: ISM 8:26 AM: Private Sector Job Growth Greatly Disappoints in May: ADP »View All Micro News Around the Web Lawler: Census 2010 and the US Homeownership Rate Renters and the Mini-Boom in Miami Real House Prices and Price-to-Rent: Back to 1999 Mortgage Company Settles Maternity Leave Case Real Estate News: Home Prices Still Falling The Excess Vacant Housing Supply »View More Around the Web Video News Treasury Prices Up, Yields Down Realty Check: Ups & Downs Rentals on the Rise »View More Video News Today's Comments "Hi, I am tired of loan officers sticking up for one another when the loan officer in my case is clearly in the wrong. He paid somebody to lie about my..." "Can anyone explain why they made changes to refinancing a mortgage? So they went from 80% LTV to 75% to not incur extra costs...with home prices dropping..." "I think that everyone has good points and if you took a mix of all of them you would have it all figured out....here is how the whole every homebuyer education..." »View More Comments 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..." »View More Q&A Today's Forum Discussions "To register for this free 30 Minute Webinar on Thursday June 2th at 4:00PM EDT please visit: http://www.titlehound.com/enews/webinar_form.php FREE 30 Minute..." "Have a VA borrower who's been Self Employed for only 6 months. Dad will co-sign but my lender just told me they will not do a non-occupying co-borrower..." "Anyone have a recommendation? Ryan D. Ellis Senior Mortgage Consultant Poli Mortgage Group, Inc." »View  Forum Discussions jeffer90576 -view profile -edit profile Subscription Level: Non-Premium Manage Account Market Data Mortgage Rates 30YR 4.56 -0.07 15YR 3.84 -0.10 FHA30YR 4.26 -0.05 Jumbo30YR 5.03 -0.05 5/1ARM 3.24 -0.01 MBS Quotes FNMA 3.5 97-12 0-26 FNMA 4.0 101-09 0-22 FNMA 4.5 104-11 0-17 FNMA 5.0 106-26 0-13 Treasuries 2 YR 0.4370 -0.0310 3 YR 0.7212 -0.0588 5 YR 1.5948 -0.1032 7 YR 2.2681 -0.1189 10 YR 2.9444 -0.1146 30 YR 4.1424 -0.0786 Recent Housing Data Visit our Market Data Center for all of the latest housing numbers, graphs, etc. Homeownership -0.60% Home Vacancy 8.00% New Home Prices -10.46% Forward Know someone who might be interested in this email? Forward it. Newsletter Archive Front Page | Headline Viewer | Video | Forums | Q&A | Market Data | Rates | Marketplace : Consumer - Industry © 2011 Brown House Media, Inc. All rights reserved. Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031