Genworth Job Cuts; Flood Insurance Across the Nation; Recent Disparate Impact Cases; CFPB Employees Unionize

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Posted To: Pipeline Press

Yes, mortgage rates are higher than where they were a month ago. We aren't in an " ARM market " quite yet although intermediate ARMs are seeing some renewed interest and thus some interest in brushing up on ARM indices. The latest news comes from Europe, where officials are trying to restore some trust in the validity of LIBOR (read MORE ) . But speaking of intermediate ARMs, yesterday's prepayment report for May showed that fixed-rate loan early pay-offs picked up slightly but that hybrid ARMs saw "meaningful" prepayments. But LOs and investors know that with the recent sharp move higher in mortgage rates speeds on fixed rate product will slow significantly in coming months. Hybrid ARM prepayments continued to rise from February lows across ARM products, with the largest increases coming on...(read more)

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Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/06072013-unemployment-rate-disparate.aspx

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