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Mortgage Rates Mostly Unchanged After Treasury Auction
Posted To: Mortgage Rate Watch When 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 ...
USDA Rural Development System Upgrade Complete. Now Processing Conditional Co...
Posted To: MND NewsWire In 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 n...
Beige Book: Housing Market Experiencing "Sustained Lull"
Posted To: MND NewsWire The 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...
Indirect Bidders Steal the Show at 10 Year Auction. Yields Lower as Shorts Cover
Posted To: MBS Commentary Treasury 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 w...
Purchase Apps Up 6.3%. Refinance Demand Declines 3.1%
Posted To: MND NewsWire The 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 app...
New GSE Housing Goals: Is FHFA Putting the Cart Before the Horse?
Posted To: Voice of Housing The 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 Econo...
Potential Spot to Shelf Jumbo Loan Paper; FHA Q&A on Condo Recerts; Buyback Br...
Posted To: Pipeline Press Lenders 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 Day Ahead: Beige Book, Treasury Auction, Heavy Corporate Debt Supply
Posted To: MBS Commentary Recap 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 ag...
Mortgage Rates End Losing Streak But Treasury Auctions Loom
Posted To: Mortgage Rate Watch The 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 ...
Housing Crisis Needs Localized Approach, Not "One Size Fits All" Solution
Posted To: MND NewsWire Eric 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 ...
Rates Retrace Late Week Losses. Lost Rebate Restored
Posted To: MBS Commentary Good 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 ...
Zero-Down Payment Programs; New FHA Mortgagee Letter; Does the Value of Servi...
Posted To: Pipeline Press Much 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 ...
The Week Ahead: Beige Book, Treasury Auctions, Trade Balance
Posted To: MBS Commentary September 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 balance ...
How Did The Employment Report Affect Mortgage Rates?
Posted To: Mortgage Rate Watch It 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...
All Signs Point to Higher Rates in Week Ahead
Posted To: MBS Commentary NFP 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 ...
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