Tuesday, October 11, 2011

Mortgage Rates Significantly Higher to Start the Week

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Oct 11, 2011 4:43PM

Mortgage Rates Significantly Higher to Start the Week

On Friday, we talked about how the Employment Situation Report contributed to higher Mortgage Rates . The optimism surround the European debt crisis has also been hurting interest rates, and markets would have needed some very bad news out of Europe in order to reverse the momentum for higher rates that took shape last week. Unfortunately, nothing reversed that momentum, and rates are significantly higher than last week. If you're seeing local or national news talking about rates in the "high 3's...

Oct 11, 2011 3:19PM

The End of The Low Rate Dream?

"The trend is your friend," or "play the range until the range plays you..." Two of the commonly heard phrases during periods like the last 2 months in bond markets. Last week's NFP in conjunction with optimism over the European debt crisis sent yields well out of their reliably-travelled trend channel and we awaited today's trading as confirmation or rejection of that breakout. With zero exceptions, 10yr yields traded inside a trend channel outside which, yields never closed for two days in a row...


Micro News

5:29 PM:

Fannie Mae: Updated Home Affordable Refinance FAQs Regarding DU Refi Plus

5:26 PM:

Ginnie Mae Increases Program Flexibility to Meet the Needs of Issuers and Warehouse Lenders

3:56 PM:

Can MBS Keep Fighting The Good Fight Tomorrow?

2:15 PM:

Risk-Appetite Decreased Among Dealer Accounts - Fed

11:34 AM:

Potential Positive Reprices as MBS Outperform

10:38 AM:

Federal Reserve Board seeks comment on proposal to implement "Volcker Rule" requirements of the Dodd-Frank Act

9:41 AM:

NAMB (Video): Mass refi program, LO Compensation, FHA lending limits, VA funding fees

9:36 AM:

Fannie Mae Releases September Consumer Indicators

Around the Web

Video News

Maughan Says Capital Requirement `Wall' Curbs New Banks

FDIC Votes to Approve Volcker Rule

Wall Street May Lose 10,000 Jobs by End of 2012


Today's Comments

Scott Hevel

"Agreed. However, real is actually a 2 syllable word. So, Realtor is actually a 3 syllable word when pronounced properly. :) Had to give you a hard time..."

Shawn Moore

"Isn't the concept of always booming part of the problem that led towards the current housing meltdown? The only growth that is constant is population..."

John White

"Trying to appreciate where you are coming from in respect to the "guilt" part but here is my 2 cents. Basically this guilt can be addressed this..."

Today's Q&A

"how can I find an investor to loan me money for a house?"

"How many days are required ti give a customer their appraisal once they ask for it?"

"what is the diffrense between a freehold estate and a non-freehold estate in new jersey?"

Friday, October 7, 2011

Refinance America: A New and Improved Plan

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Oct 6, 2011 3:42PM

Refinance America: A New and Improved Plan

Written By: Brideen Gallagher Vice President, The Collingwood Group Brian O'Reilly raised some very intriguing propositions on dealing with the ever growing issue of borrower income/wealth trapped in deflated, under-water home values. While these ideas address each constituency impacted—borrower, lender, investor, taxpayer—there is still no evidence that the Administration, Congress or the regulators have any plans to address the current crisis. Much has been made about the impact...

Oct 7, 2011 1:27PM

Attention Real Estate Pros: 'Realtor' Is 2 Syllables

After too many years of hearing people say real-uh-ter in reference to real estate agents, it's time to set the record straight. 'Realtor' is two syllables, not three. It's pronounced real-ter . Period. You might chuckle, but I'll use some other improper speaking to make the point: it ain't no joke. Here's why: Realtor is a trademark of the National Association of Realtors. They've set the standard for professional conduct in the real estate industry since 1908---one of which is "truthfulness in...


Micro News

3:58 PM:

Shortened Week Ahead. Auctions, FOMC Minutes, and Econ

3:30 PM:

After Hours Weakness. Potentially Reprices For The Worse!

12:58 PM:

MBS Make it Back to "Concrete Ceiling." Loan Pricing May Improve

11:52 AM:

SIGTARP: Ex-Housing Inspector Pleads Guilty in Connection with Defrauding Clients Seeking Mortgage Modifications

8:57 AM:

Non-Farm Payrolls Beat Estimates. Bond Markets Suffer

5:07 PM:

American Land Title Association Comments on Providing Incentives for Homeownership

4:59 PM:

Non-Farm-Payrolls in Focus Tomorrow. Trends Remained Intact

4:52 PM:

Treasury: Geithner Testimony before Committee on Banking, Housing and Urban Affairs

Around the Web

Video News

Herb Alert: When Prime Goes Subprime?

Comercial Real Estate Crisis?


Today's Comments

Scott Hevel

"Agreed. However, real is actually a 2 syllable word. So, Realtor is actually a 3 syllable word when pronounced properly. :) Had to give you a hard time..."

Shawn Moore

"Isn't the concept of always booming part of the problem that led towards the current housing meltdown? The only growth that is constant is population..."

John White

"Trying to appreciate where you are coming from in respect to the "guilt" part but here is my 2 cents. Basically this guilt can be addressed this..."

Today's Q&A

"What is the idea behind the proposed HOME Act?"

"What sort of government mortgage assistance is available?"

"Where can I find 10 or 20 year mortgage rates?"

Thursday, October 6, 2011

Mortgage Rates Face High Risk Event Tomorrow

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Oct 6, 2011 4:05PM

Mortgage Rates Face High Risk Event Tomorrow

Mortgage Rates continued higher today, removing 3.875% from Best-Execution status as most lenders and introducing the possibility of seeing 4.125%. That said, the buy-downs to 3.875% are still fairly cheap, so the rate is available if it you pay the extra buy-down costs (assuming that makes sense for your scenario) Tomorrow brings the high risk event of the week in the form of the Employment Situation Report. As we said yesterday, markets seem poised to move in either direction after that report...

Oct 6, 2011 2:46PM

Markets Viewed as "Improving" Double in Month

Twenty-three metropolitan areas are now listed on the National Association of Home Builders (NAHB)/First American Improving Markets Index (IMI) released on Thursday. This is nearly double the 12 markets listed as improving when the first index was released in September. NAHB defines an improving market as one that has shown improvement for at least six months in housing permits, employment, and housing prices using indicators from the Bureau of Labor Statistics, Freddie Mac and the U.S. Census Bureau...


Micro News

4:52 PM:

Treasury: Geithner Testimony before Committee on Banking, Housing and Urban Affairs

3:21 PM:

NY Fed: Latest Agency MBS Transaction Data

2:06 PM:

Geithner: Mortgage Refinance Proposal In Coming Weeks

1:28 PM:

MBS Hit Lows Again. Negative Reprice Risk Increasing

10:10 AM:

Trepp: Balance of Loans Liquidated in September Advances While Loss Severity Rate Retreats

10:02 AM:

Freddie Mac: 30-Year Fixed Mortgage Rate Falls Below 4%

9:58 AM:

NAHB: Housing is Key to Job Creation, Economic Recovery

9:56 AM:

Dataquick: Miami Home Sales Up 25% YoY

Around the Web

Video News

Geithner Speaks on the Hill

Mortgage Rates Fall Below 4%

Remembering the Visionary Steve Jobs


Today's Comments

Frank Ceizyk

"The bigger fraud that continues unaddressed is how the prices of housing that were negotiated between buyers and sellers produced more than an 80% rise..."

Frank Ceizyk

"Ok--so basically, what we need is for a massive consumer based bankruptcy filing. I honestly can't say that I disagree. If consumers still drive 2..."

Jason Harris

"Maybe I am crazy but this seems to be more of a title company fraud than a lender fraud. The banks probably benefited very little as this money went to..."

Today's Q&A

"What good are low mortgage rates if it's so difficult to get approved for a mortgage?"

"Did my federal credit credit union violate federal regulations in my mortage escrow account?"

"What is the smallest income amount an owner can assume the largest mortgage for?"