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Real Estate News |
Mortgage Rates Mostly Unchanged After Treasury Auction
Wed, 08 Sep 2010 22:21:40 GMT
Posted To: Mortgage Rate WatchWhen economic data is thin the stock market tends to have a larger impact on the direction of mortgage rates. The session began with stocks moving lower yesterday. With no data on the economic calendar to reverse the mar..[read more]
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USDA Rural Development System Upgrade Complete. Now Processing Conditional Commitments
Wed, 08 Sep 2010 20:23:00 GMT
Posted To: MND NewsWireIn March we learned that USDA Rural Housing funds were expected to run dry by the end of April . A month later, even though the legislation intended to provide the funding had not passed, USDA began issuing commitments for new ..[read more]
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Beige Book: Housing Market Experiencing "Sustained Lull"
Wed, 08 Sep 2010 19:24:00 GMT
Posted To: MND NewsWireThe Federal Reserve has released the Beige Book The Beige Book is a compilation of anecdotal information and data on current economic conditions across the country. The findings are NOT THE VIEWS OF FEDERAL RESERVE OFFICIALS ....[read more]
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Indirect Bidders Steal the Show at 10 Year Auction. Yields Lower as Shorts Cover
Wed, 08 Sep 2010 17:02:00 GMT
Posted To: MBS CommentaryTreasury just auctioned $21 billion 10 year notes . Auction demand was healthy thanks to one group of bidders specifically. The bond market has responded favorably in post auction trading. The high yield was 2.67%, which was ..[read more]
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Purchase Apps Up 6.3%. Refinance Demand Declines 3.1%
Wed, 08 Sep 2010 15:14:01 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 3, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applic..[read more]
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New GSE Housing Goals: Is FHFA Putting the Cart Before the Horse?
Wed, 08 Sep 2010 14:29:00 GMT
Posted To: Voice of HousingThe Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises), has established its final housing goals for the Enterprises in 2010-2011 . FHFA is required by the Housing and Economic..[read more]
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Potential Spot to Shelf Jumbo Loan Paper; FHA Q&A on Condo Recerts; Buyback Breakdown; Lots of Lender Updates
Wed, 08 Sep 2010 14:27:14 GMT
Posted To: Pipeline PressLenders offering FHA products know that Mortgagee Letter 2010-24 eliminated the unlimited CLTV ratio, and reinstated the requirement that the total of any FHA-insured first mortgage and any subordinate lien may not exceed the..[read more]
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The Day Ahead: Beige Book, Treasury Auction, Heavy Corporate Debt Supply
Wed, 08 Sep 2010 12:13:00 GMT
Posted To: MBS CommentaryRecap of Yesterday Lost rate sheet rebate was restored yesterday as the bond market benefited from a reversal of demand for risky assets (stocks sold) and an onslaught of swapable corporate debt supply. Loan pricing was aggre..[read more]
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Mortgage Rates End Losing Streak But Treasury Auctions Loom
Tue, 07 Sep 2010 20:11:00 GMT
Posted To: Mortgage Rate WatchThe week ahead is very light in terms of economic data, that implies we should expect the stock market to continue to provide mortgage rates with directional guidance. If stocks rally, look for mortgage rates to move hig..[read more]
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Housing Crisis Needs Localized Approach, Not "One Size Fits All" Solution
Tue, 07 Sep 2010 18:58:20 GMT
Posted To: MND NewsWireEric Rosengren, president of the Federal Reserve Bank of Boston, told attendees at a Federal Reserve sponsored conference on REO and Vacant Property Strategies for Neighborhood Stabilization last Thursday that there may not be ..[read more]
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Rates Retrace Late Week Losses. Lost Rebate Restored
Tue, 07 Sep 2010 15:45:00 GMT
Posted To: MBS CommentaryGood Morning. I hope everyone had a safe and sound Labor Day weekend. I for one feel re-energized following a three day stay in State College, PA (PSU). The weather was perfect, we blew out Youngstown State, and I escaped the..[read more]
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Zero-Down Payment Programs; New FHA Mortgagee Letter; Does the Value of Servicing Warrant Retaining It?
Tue, 07 Sep 2010 15:19:16 GMT
Posted To: Pipeline PressMuch of life is a balancing act. For example, I eat my Captain Crunch with only low-fat milk because I wouldn't want unnecessary calories. Underwriting is also a balancing act, matching the risk of the borrower being able to ..[read more]
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The Week Ahead: Beige Book, Treasury Auctions, Trade Balance
Tue, 07 Sep 2010 12:41:59 GMT
Posted To: MBS CommentarySeptember began on a strong note last week as the Dow jumped almost 3%, or 297 points. Whether the strength continues this week could depend on the Federal Reserve’s assessment of the economy (Wednesday) and trade balan..[read more]
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How Did The Employment Report Affect Mortgage Rates?
Fri, 03 Sep 2010 20:38:00 GMT
Posted To: Mortgage Rate WatchIt is the first Friday of the month and that brings us the official government report on the labor market: The Employment Situation Report. This release provides four headline measures on the health of the jobs sector. N..[read more]
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All Signs Point to Higher Rates in Week Ahead
Fri, 03 Sep 2010 16:48:00 GMT
Posted To: MBS CommentaryNFP has come and gone, let's see where things stand.... The October delivery FNCL 4.0 is -0-09 at 102-15. In the chart below I called attention to a few technical inflection points. The ascending trend channel that helped mor..[read more]
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FHFA Establishes New Housing Goals for GSEs
Fri, 03 Sep 2010 14:44:03 GMT
Posted To: MND NewsWireThe Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises) has established its final housing goals for the Enterprises in 2010-2011. FHFA is required by the Housing and Economic Recov..[read more]
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Banks Prefer Cash Buyers in REO Sales; Freddie Mac Streamline Refi Program; Originator Capacity Constraints; Comments on Property Flipping
Fri, 03 Sep 2010 14:26:24 GMT
Posted To: Pipeline PressIf there's one thing that an investor will never let any originator off the buyback hook for, it's fraud . Not only that, but the penalties can go far beyond merely buying back the loan, and saying' "My bad." Just in the last..[read more]
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Employment Situation Report: -54K Total Job Losses. Private Sector Adds 67k Positions. Bonds Sell
Fri, 03 Sep 2010 12:30:00 GMT
Posted To: MBS CommentaryTHE EMPLOYMENT SITUATION – AUGUST 2010 – BETTER THAN EXPECTED From the Release... Nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6 percent, the U...[read more]
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The Day Ahead: August Employment Data to Drive Markets
Fri, 03 Sep 2010 12:13:00 GMT
Posted To: MBS CommentaryMarkets are roughly flat Friday morning ahead of the widely anticipated employment report for August, which at 8:30 eastern time is set to show that jobs declined for the third straight month. Ninety minutes before the openin..[read more]
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Mortgage Rates Move Higher Before Jobs Data
Thu, 02 Sep 2010 21:42:00 GMT
Posted To: Mortgage Rate WatchWhat a boring day in the markets! Stocks added to yesterday's gains and bonds added to their losses. This pushed mortgage rates marginally higher. The best 30 year fixed mortgage rates are still in the 4.125% to 4.375% r..[read more]
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Pending Home Sales Rebound from Record Low. What Might Boost Buyer Demand?
Thu, 02 Sep 2010 20:25:00 GMT
Posted To: MND NewsWireThe National Association of Realtors released the Pending Home Sales Index today. NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sa..[read more]
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Fed Hosts Neighborhood Stabilization Summit
Thu, 02 Sep 2010 18:07:00 GMT
Posted To: MND NewsWireCommunity organizers, state and federal government officials, and representatives from banking, research and educations institutions are currently meeting in Washington at a REO and Vacant Properties Summit sponsored by the Fed..[read more]
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Pre-NFP Outlook Plus Loan Pricing Comparison
Thu, 02 Sep 2010 16:42:00 GMT
Posted To: MBS CommentaryWhat a rough morning! It appears my hard drive no longer wants to work. I tried to reach out for help, but no one answered. Then my gf called and reminded me that today is 9.02.10. This explains why Glenn is M.I.A, he's curle..[read more]
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Litany of Investor Bulletins: Mortgage Insurance, Appraisal Photos, Originator IDs, Incomplete GFEs, 203(b)'s, Reserve Requirements, No More ARMs
Thu, 02 Sep 2010 15:39:54 GMT
Posted To: Pipeline PressIt's good to know the jumbo market is alive and well! Alive and well for Tiger Woods who just got a residential construction loan for $54.5 million on Jupiter Island in Florida, which he agreed to pay back by January 2016. Of..[read more]
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Eliminate Investor Credit Overlays by Selling Directly to the GSEs
Thu, 02 Sep 2010 15:25:52 GMT
Posted To: The Garrett Watts ReportI’ve been on the road for the past three weeks, mostly performing reviews of mortgage bankers for warehouse lenders. I am happy to report that all channels of origination are doing well. I’m no longer he..[read more]
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