Pending Sales Post First Gain in Three Months

Hot news from AZ Home Help:

Posted To: MND NewsWire

There was a slight uptick in contract signings for home purchases in October after two straight months of declines. The National Association of Realtors® (NAR) said today that its Pending Home Sales Index (PHSI) inched up by 0.2 percent to 107.7 in October. The September index was revised up from 106.8 to 107.5 but still represented a loss compared to August. The index is now 3.9 percent higher than in October 2014 and has increased on a year-over-year basis for 14 consecutive months. NAR's index is based on contract signings and is a leading indicator of home sales. Contracts typically become closed transactions in 60 days or less. Lawrence Yun, NAR chief economist, noted that pending sales have been relatively flat through the fall and said it reflected continuing low inventories and...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11302015_pending_home_sales.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Fannie & Freddie 2016 Loan Limits; Agency Requirements After a Bankruptcy or Foreclosure

Hot news from AZ Home Help:

Posted To: Pipeline Press

There are 50 states in the U.S., and 3007 counties in those states. (The numbers of counties per state ranges from the 3 in Delaware to 254 in Texas; Louisiana and Alaska have parishes - functionally equivalent.) Out of the 3,007 counties, 39 of them had their conforming loan limits increased by the Federal Housing Finance Administration (FHFA) - the overseer of Freddie Mac and Fannie Mae and the 11 Federal Home Loan Banks. For the remaining 2,968 the FHFA announced that the $417,000 baseline conforming loan limit for the GSEs would remain unchanged in 2016. As a result, the high-cost ceiling will remain $625,500 for 2016. The FHFA increased the loan limits for 39 counties between 1% and 8% due to slightly higher median home prices in those areas. Most of them were in California, Colorado,...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/11272015-2016-loan-limits.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Judicial Foreclosure Process Hurting More Than Helping

Hot news from AZ Home Help:

Posted To: MND NewsWire

We noted a few months ago that Freddie Mac's monthly Insights and Outlook had changed in both format and publication schedule and credited those changes to its new chief economist Sean Becketti. Another innovation is their feature "In Closing" which learns more toward an editorial than a news piece. This month the subject is titled "the cost of delaying the unavoidable " and it looks at the impact of state level foreclosure laws. The Great Recession brought about a lot of regulatory changes to financial services, especially in housing, in an attempt to avoid a repeat of the devastation. As bad as the downturn was there was substantial variations in its impact across the states, usually as a result of differences in each states economic composition. But Freddie Mac says some can be traced to...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11252015_freddie_mac_outlook.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Perfectly Steady. Next Week Could be Different

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates did absolutely nothing today. In fact, some lenders were not even open for business today. Those who were, generally made no discernible changes to rate sheets. This is not necessarily a surprise considering Black Friday is traditionally the slowest day of the year for the bond markets that underlie mortgage rate movement. Slowness is a reference to the overall amount of trading activity and the number of active market participants. Trading levels can still move amid such conditions, but they didn't today--at least not enough to matter. This leaves 4.0% intact as the most prevalently-quoted conventional 30yr fixed rate for top tier scenarios with 4.125% a distant second. Bond markets closed early today (2pm instead of 5pm) so there is no further potential of rate changes until...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/536748.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Apps Decline as Rates Remain Elevated

Hot news from AZ Home Help:

Posted To: MND NewsWire

Mortgage applications were a bit of a mixed bag during the week ended November 20, a week in a hammock strung between two holidays. The Mortgage Bankers Association said its Market Composite Index, a measure of application activity, was down by 3.2 percent on a seasonally adjusted basis from the previous week but increased by 6 percent on an unadjusted basis. The data from the week ended on November 13 had included an adjustment for that week's Veterans' Day holiday. The Refinance Index decreased 5 percent from the previous week and the refinance share of all mortgage applications increased very slightly, from 58.6 percent to 58.7 percent. The seasonally adjusted Purchase Index dipped 1 percent from the previous week but rose 5 percent on an unadjusted basis. Compared to the same week in 2014...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11252015_application_volume.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Home Prices Continue Defying Gravity and Expectations

Hot news from AZ Home Help:

Posted To: MND NewsWire

Price increases did not slow in the third quarter as expected the Federal Housing Finance Agency (FHFA) said today. The agencies purchase-only seasonally adjusted House Price Index (HPI) for the quarter shows that prices rose for the 17 th consecutive quarter and posted the largest month-over-month gain since at least that in March to April. The combined report for September and for the third quarter is based on home sales price information taken from mortgages sold to or guaranteed by the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The monthly index rose 0.8 percent from August and the quarterly measure was 5.7 percent higher than in the third quarter of 2014. Year-over-year the increase for the entire U.S. was 6.1 percent. The 8 percent monthly gain crushed analysts...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11252015_fhfa_hpi.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Break Thanksgiving Tradition

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates broke from tradition today by maintaining an almost perfectly flat trajectory leading up to Thanksgiving. This time of year is typically marked by lighter participation among the trading community whose trades ultimately dictate mortgage rates. When fewer of them are about, volatility can increase in financial markets. In years past, it's been common to see a small imbalance among traders translate to a quick move in one direction or another for rates. Perhaps there is more uncertainty and anxiety this year, resulting in market participants being less willing to bet too strongly for or against any particular rate movement. This would stand to reason with the Fed's first rate hike in 11 years seen as a near certainty just a few weeks from now. Whatever the case may be, mortgage...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/536085.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

New Home Sales Buoyed by 135 Percent Gain in New England

Hot news from AZ Home Help:

Posted To: MND NewsWire

New home sales in October reversed their sharp downturn in September and also bucked other recent sales trends, rising by a substantial 10.7 percent. The U.S. Census Bureau and the Department of Housing and Urban Development reported today that sales of newly constructed homes were at a seasonally adjusted annual rate of 498,500 units, up from a revised September rate of 447,000. The October number was 4.9 percent higher than the previous October's pace of 472,000 units. The revision of the September number paints an even dimmer picture of those sales. They were originally reported at a rate of 468,000 units, already 11.5 percent below sales in August. Despite the strong October number sales are still below the half-million and higher numbers posted in July and August. Pending sales were down...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11252015_new_home_sales.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Remaining Eerily Steady Despite Volatile Precedent

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates held steady today on average, with a few lenders improving almost imperceptibly. The most prevalently-quoted conventional 30yr fixed rate remains 4.0% with more than a few lenders still up at 4.125%. If this week is to end up being anything like Thanksgiving weeks of the past, it has a lot of catching up to do , and a very small window of time to do it. The bond markets that underlie mortgage rate movement tend to see a quick move in either direction over the first 3 days of the week and a bounce back from that move by the following week. This time around, markets have been almost completely silent. If we don't see the characteristic holiday volatility tomorrow or Friday (markets are closed on Thursday), it will set the stage for even greater anticipation heading into December...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/535815.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Foreclosures Increase; Delinquency Measures Continue to Fall

Hot news from AZ Home Help:

Posted To: MND NewsWire

Black Knight Financial Service's monthly "first look" at October month-end mortgage performance standards continues to show a steady decline almost all measures of mortgage distress. The company releases summary data from its loan-level database in advance of a more comprehensive analysis in its Mortgage Monitor published early the following month. There were 2.415 million homes on which the mortgage was 30 or more days overdue in October but which were not yet in foreclosure, a national delinquency rate of 4.77 percent. The number of delinquent mortgages fell by 42,000 between September and October, -1.93 percent, and are down 316,000 units from October 2014 a -11.91 percent change. Of those delinquent properties, 820,000 had mortgages that were seriously overdue - 90 days or more - but were...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11242015_black_knight_first_look.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Slightly Higher

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates rose today for most lenders, albeit modestly. In fact, several lenders were unchanged from Friday's latest levels with the rest seeing varying degrees of weakness. In almost all cases, the weakness would be seen in the form of higher closing costs or lower lender credit (as opposed to the actual contract rate being higher). The most prevalently-quoted conventional 30yr fixed note rate continues to be 4.0% on top tier scenarios, though there are more than a few lenders at 4.125%. The week of Thanksgiving is often marked by serendipitous volatility for the bond markets that underlie mortgage rate movement. Wednesday tends to be the most abrupt day, but Tuesday is frequently involved as well. Through the years, Thanksgiving volatility has been both a blessing and a curse for mortgage...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/535148.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

What are the Requirements to Qualify for a Short Sell?

How do I know if I qualify to short sell my house? You must be experiencing a hardship, be in danger of missing a mortgage payment and facing imminent default on your home loan. If you are eligible for a short sale, there are many benefits to this route and avoiding foreclosure. To learn more about the qualifications and benefits of a short sale call our Arizona Short Sale agents at 480-241-4406 or visit us online at http://goo.gl/bjicf2

What are the Requirements to Qualify for a Short Sell?

How do I know if I qualify to short sell my house? You must be experiencing a hardship, be in danger of missing a mortgage payment and facing imminent default on your home loan. If you are eligible for a short sale, there are many benefits to this route and avoiding foreclosure. To learn more about the qualifications and benefits of a short sale call our Arizona Short Sale agents at 480-241-4406 or visit us online at http://goo.gl/bjicf2

Existing Home Sales Fall 3.4 Percent; Still Up Year-Over-Year

Hot news from AZ Home Help:

Posted To: MND NewsWire

Pending sales, which had declined in both September and October did indeed prove to be a leading indicator for existing home sales in October. The National Association of Realtors® said on Monday that, while October sales were at a healthy pace, they did decline by 3.4 percent from sales in September. Existing single-family homes, townhomes, condominiums, and co-op apartments were at a seasonally adjusted annual rate of 5.36 million units in October compared to 5.55 million in September. Despite the month-over-month dip sales were still higher than a year ago by 3.9 percent. Analysts were expecting sales to be at a 5.4 million annual rate. Single-family home sales fell 3.7 percent to a seasonally adjusted annual rate of 4.75 million in October from 4.93 million in September, but remain...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11232015_existing_homes.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Seasonality Can't Quite Explain October Housing Slowdown

Hot news from AZ Home Help:

Posted To: MND NewsWire

Home sales appeared to slam on the brakes in October, at least according to Redfin. The company said sales increased by only 0.3 percent compared to October 2014 representing "an abrupt slowdown from September's double-digit growth." Even some of the hot markets among the 67 metropolitan areas tracked by the Seattle based company were among the 27 that posted slower sales than a year earlier. They included Seattle, Denver, Austin, Miami and Dallas. When compared to September sales fell everywhere except San Francisco, Buffalo, Allentown, and Miami. Redfin said the downturn in sales was more than a typical seasonal slowdown but didn't know the reason for it happening. There were several factors that might have contributed, a shortage of homes for sale, weather, or the new TRID rule on closing...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11192015_home_sales_redfin.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Lender Purchased; Swaps Primer; Nationstar Deal; Prospect Settles

Hot news from AZ Home Help:

Posted To: Pipeline Press

Did you know that November is American Indian and Alaska Native Heritage month? There are currently 5.4 million American Indians and Alaska Natives, making up 2 percent of the national population and 15 states have 100,000 or more American Indian and Alaska Native residents. These states include California, Alaska, Oregon, Colorado, Arizona, Washington and Florida. The median age of those who were American Indian and Alaska Native in 2014 was 31 years old, less than the national median age of 38. Roughly 53% of single-race American Indians and Alaska Natives owned their own home in 2014 compared to 63% for the total population, and the median household income was $37k compared to $54k for the nation as a whole. Yesterday the commentary mentioned the rumors that continue to swirl around the...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/11202015-credit-default-swaps.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Back to Unchanged After Stronger Start

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates started the day slightly lower compared to yesterday's latest offerings. Mid-day weakness in bond markets resulted in most lenders repricing to higher rates in the afternoon. The net effect leaves rate sheets in roughly the same territory day-over-day, though this varies slightly from lender to lender. The most prevalently-quoted conventional 30yr fixed rate continues to be 4.0% for a small majority of lenders with the rest up at 4.125%. Keep in mind that the difference between a lender quoting 4.0 and 4.125% isn't necessarily as simple as the 0.125% might make it seem. The effective rate takes the upfront costs into consideration as well as the rate that dictates the payments. At any given lender, it would cost somewhere between 0.007% and 0.01% of the loan amount to move down...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/534240.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

MBS RECAP: Bonds Weaker as Buyers Cover Shorts Early, Then Disappear

Hot news from AZ Home Help:

Posted To: MBS Commentary

Once again, the bulk of the day's recap was inadvertently captured in the mid-day-commentary. Feel free to read that instead of this if you want. If you're not into clicking links, here's a redux : As expected, the evaporation of liquidity ahead of the Thanksgiving holiday week began today. It was most pronounced after the European close. The imbalance clearly favored sellers in today's case, making for a quick spike in yields and a quick drop in MBS prices. Most lenders repriced negatively. One additional factoid has come to light since the mid-day commentary, and it provides a strong piece of evidence for today's imbalance favoring sellers. The Commitment of Traders report comes out every Friday, conveying the official positions held by traders as of Tuesday. All across...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/534248.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Fannie Mae: Rate Hike near Certainty, Housing Gains will Continue

Hot news from AZ Home Help:

Posted To: MND NewsWire

With the year nearing an end Fannie Mae's chief economist Doug Duncan and his Economic & Strategic Research (ESR) Group are holding to their most recent projections for the economy; 2.2 percent growth in the current year and 2.4 percent in 2016. This expansion will be supported by "solid consumer spending growth and a pickup in construction activity and continued rising home sales and prices. Headwinds for manufacturing and exports stemming from the strength in the dollar and weak global growth are unlikely to dissipate in the near term. However, the drag on manufacturing from the inventory cycle and declining oil prices should fade next year." Consumer spending is expecting to be the primary driver of growth in the last quarter of 2015 and in early 2016 with residential investment growth...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11202015_fannie_mae_forecast.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Inch Down to 2-Week Lows

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates moved nicely lower today, relative to the recent, plodding improvements. This brings most lenders back to their lowest levels since November 5th--the day before the jobs report pushed rates to their highest levels in more than 4 months. The most prevalently-quoted conventional 30yr fixed rate remains 4.0%, with quite a few lenders still quoting 4.125%. While today's quoted rates would be the same as yesterday's, most borrowers would see lower closing costs or a higher lender credit, depending on the scenario. In the bigger picture, the financial markets that underlie mortgage rate movement are coming into the official holiday season. This is important because it decreases the liquidity in the secondary mortgage market (liquidity can be thought of as the level of activity in a...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/533891.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

MBS Day Ahead: Fed Hints at Brave New World... Maybe

Hot news from AZ Home Help:

Posted To: MBS Commentary

There is no question that the Fed hinted at a brave new world for global interest rates in yesterday's Minutes release, but for most market participants, there is too big a question as to whether we ever see it. For me personally, it's vindication for my decision to increasingly go out on an analytical limb this year. Said limb is my thesis about longer-term endgame for rates being a global race to zero due to a confluence of factors including aging populations, declining birth rates, declining productivity, an absence of growth exponentiators (like the industrial revolution, globalization, or the proliferation of internet and ecommerce). Inconveniently, I don't know how quickly the race to zero will unfold (clearly Europe is already modeling the behavior, and Japan has been its...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/533618.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Little-Changed After Fed Minutes

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates were just slightly higher today, keeping them in a holding pattern just shy of 4-month highs. This after an abrupt move higher from 6-month lows that began in late October after the Fed Announcement alluded to a December rate hike. Although mortgage rates aren't directly tied to the Fed Funds Rate, most rates tend to move higher as the likelihood of a Fed hike increases. Today brought the 'Minutes' from the Fed's October meeting (the one that catalyzed the big move higher for rates). The Minutes give the Fed an opportunity to convey a more detailed account of the discussion that led to the official policy statement released at the end of the meeting. This is done in the spirit of transparency, depending on your point of view. Some would say it gives the Fed a chance to manage...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/533507.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Apps Rise; Prices Hit Record High

Hot news from AZ Home Help:

Posted To: MND NewsWire

It was another holiday muddled week for the Mortgage Bankers Association's Market Composite Index. The index, a measure of applications volume, rose 6.2 percent on a seasonally adjusted basis but fell 6.0 percent on a non-adjusted basis. The week's results included an adjustment for the Veterans Day holiday. The Purchasing indexes were also bifurcated with the seasonally adjusted index increasing 12 percent while the unadjusted index was down 3 percent compared to the previous week. The unadjusted Index was 19 percent above its level during the same week in 2014. The measure of refinancing was at least clear, that index, which is unadjusted, increased 2 percent from the week ended November 6. Refinancing applications had a 58.6 percent share of the total for the week, down from 59.8 percent...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11182015_application_volume.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Recover From Morning Weakness

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates had an interesting day today, with most lenders beginning at slightly higher levels, but improving by the end of the day. The average lender is quoting the exact same rates seen yesterday afternoon. As always this will vary by lender, but even the underlying bond market abruptly returned to yesterday's closing levels after heading toward higher rates this morning. The reasons are complex and boring . If you're into that sort of thing, feel free to continue. Bonds are financial instruments where a buyer pays money today in exchange for the right to be paid back over time with interest. There are all kinds of bonds. Even the mortgage-backed-securities that dictate rates are kinds of bonds. There are other financial instruments too, but bonds are their own sort of thing. Think of...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/533020.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

MBS Day Ahead: Is That It For The Rally?

Hot news from AZ Home Help:

Posted To: MBS Commentary

We had a good run last week of modest gains that followed the abrupt selling-spree that began in late October. In other words, rates rose quickly , but finally looked to be leveling-off and perhaps gaining some ground. Throughout that process of bouncing back, I'd flown a warning flag of sorts, advocating caution due to the nature of so-called "consolidations." This is just a more confusing way to talk about trading prices/yields leveling-off after a brisk move in one direction or another. Shockingly enough, consolidations don't predict the future. They can merely serve as a pause for markets to catch their breath before continuing with the move, or they can be the first indication that investors are ready to step back in and trade in the other direction. Trying to determine...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/532724.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Continue Gradual Recovery

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates moved slightly lower for the third straight day and have now spent 4 days without moving higher. Like the previous two business days, the improvements were modest. That said, they are beginning to add up. Most lenders are more than halfway back to the rates seen before this month's jobs report, which marked an acceleration in the broader rate spike that began in late October. To quantify this (and to oversimplify the fairly complex and diffuse rate-quote landscape), the average 30yr fixed rate was closer to 3.75% on October 27th. It had risen to nearly 4% by the day before the jobs report, and finally approached 4.125% in the following days. The recent gains bring us back down to 4.0% though some lenders are still quoting 4.125% on conventional 30yr fixed loans. As always, keep...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/532351.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

MBS Week Ahead: How Will Paris Tragedy Affect Bond Markets This Week?

Hot news from AZ Home Help:

Posted To: MBS Commentary

There are several past examples of global tragedies affecting domestic interest rates. It's not uncommon to see far less grotesque events than those that transpired last Friday have at least somewhat of an impact. So it's a fair question to ask: how will Paris affect rates? Here's the best answer: who cares? These are two very separate spheres of existence, and I'm personally not interested in confusing them. One is an unabashed tragedy. The other is a relatively random walk that doesn't care nearly as much about this sort of tragedy as some might assume. Bond markets will do whatever it is they would have done before the Paris tragedy. Any flight-to-safety improvement seen in rates will either be short-lived, or we can conclude that gains were in our future regardless of...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/532091.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

MBS Day Ahead: Detailed Prediction on Future Rate Movements For The Next 3 Months

Hot news from AZ Home Help:

Posted To: MBS Commentary

Because that's what you want right? I actually do have a very high probability prediction regarding rates over the next three months. If you can find a few of the very best, most convincing 'forecasts' of future rate movement, here are the steps to follow so that you can get the most benefit from them. 1. Find someone who still uses printed paper and who has a printer. (Maybe this is you!) 2. Have that person print out these predictions for you 3. Place predictions in a crudely-assembled homemade fire-pit. Feel free to use an existing fire pit, if you have one. 4. Light the predictions on fire 5. Enjoy the warm glow. Used in this way, these rate forecasts are guaranteed to be of the highest and best use to you. 9 times out of 10, that small amount of heat and vaguely comforting...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/531064.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

MBA Sees Further Drop in New Home Sales

Hot news from AZ Home Help:

Posted To: MND NewsWire

After last months' disappointing Census Bureau report on September new home sales - down 11.5 percent from a solid August - one might hope for an October rebound. However information from the Mortgage Bankers Association's Builder Application Survey doesn't offer much encouragement in that regard. The survey indicates that mortgage applications for new home purchases decreased by 8 percent in October relative to the previous month. This change does not include any adjustment for typical seasonal patterns. "On top of normal seasonal slowdown, the October decline in mortgage applications to builder affiliates was likely amplified by some applications being pulled forward into September ahead of the implementation of the Know Before You Owe Rule on October 3," said Lynn Fisher, MBA's Vice President...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11132015_mba_new_home_sales.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Keeping Hope Alive

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

For the third straight day, mortgage rates have avoided moving any higher . Each of the past two days have seen only modest improvements. That leaves us still very close to the 4-month highs seen in the first of of the week. The most prevalent conventional 30yr fixed rate quotes continue in a range of 4.0 to 4.125% for top tier scenarios. There hasn't been any change in contract or "note" rates since hitting the highs. Instead, the improvement has come in the form of slightly lower upfront costs, or higher lender credit depending on the structure of the quote. Mortgage rates are primarily driven by trading prices of mortgage-backed-securities (MBS), which are part of the broader bond market. Today, bonds reacted to weak economic data as well as falling prices in stocks and commodities. While...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/531395.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Benefits of a Short Sale?

Unable to make your payments? Do you owe more than your home is worth? It may be time to consider short selling. The biggest benefit is that it will allow you to get out from the burdensome mortgage without having a foreclosure on your credit history. Majority of people who choose to short sale their home to avoid bank foreclosure are eligible to purchase a new Arizona home within as little as two years. To learn more call us at 480-241-4406 or visit us online at http://goo.gl/mke9F

Benefits of a Short Sale?

Unable to make your payments? Do you owe more than your home is worth? It may be time to consider short selling. The biggest benefit is that it will allow you to get out from the burdensome mortgage without having a foreclosure on your credit history. Majority of people who choose to short sale their home to avoid bank foreclosure are eligible to purchase a new Arizona home within as little as two years. To learn more call us at 480-241-4406 or visit us online at http://goo.gl/mke9F

Homes Sales still Strong but Appreciation Slows

Hot news from AZ Home Help:

Posted To: MND NewsWire

The National Association of Realtors® (NAR) is calling the third quarter of 2015 unquestionably the best quarter for the housing market in a decade. Existing home sales and the continuing shortages of product kept home prices rising in most of the country. Still, overall price appreciation did slow to what NAR calls a healthier pace. The median existing single-family home price increased in 154 of the 178 metropolitan statistical areas (MSAs) tracked by the association (87 percent) compared to median prices in the third quarter of 2014. Twenty-four MSAs (13 percent) recorded an annual decline. In the second quarter 93 percent of metro areas saw median price increases. The size of the gains also moderated . In the second quarter 34 MSAs posted double digit increases but only 21 did so in...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11122015_metro_home_prices_sales.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Improve Cautiously

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates finally had a winning day, but just barely . Underlying bond markets were actually mixed on the day, but this gave lenders enough stability to move back from their more defensive pricing strategies of the past few days. In other words, during the last 2 weeks where rates have been rising quickly, lenders have been more conservative with respect to setting their rate sheets. When the negative momentum ebbs, as it has over the past few business days, lenders can afford to give back some of their cushion. "Some" is the operative word here, and perhaps overstates today's victory. From the recent lows to recent highs, the average conventional 30yr fixed quote moved from 3.75 to 4.0%. We're still very much at 4.0% today, but with slightly lower closing costs compared to the past 2...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/530821.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Fannie Housing Survey: Fear of Commitment?

Hot news from AZ Home Help:

Posted To: MND NewsWire

Consumer attitude appeared more volatile or perhaps indecisive according to their responses to October's National Housing Survey. Fannie Mae said its Home Purchase Sentiment Index TM (HPSI), based on selected responses to that survey decreased slightly to 83.2 in October from 83.8 in September. The decline was due both to decreasing consumer optimism over household income improvement and concern over rising interest rates , a combination which kept housing sentiment relatively flat. The net share of respondents who say their household income is significantly higher than it was 12 months ago fell 4 percentage points to 11% and both the Good Time to Buy and Good Time to Sell components were down after picking up the previous month. The majority of respondents expect interest rates to rise over...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11102015_national_housing_survey.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Big Jump in Rates Not Hitting Mortgage Apps... Yet

Hot news from AZ Home Help:

Posted To: MND NewsWire

Mortgage rates rose sharply during the week ended November 6. Most contract rates had an average basis point increase near double digits, returning to levels last seen in August and September. Mortgage application volume declined, but the overall response was unremarkable with most components dipping only a percentage point or two. The Mortgage Bankers Association (MBA) reported that its Market Composite Index, a measure of application volume, was down 1.3 percent from the week ended October 30 on a seasonally adjusted basis and decreased 2.0 percent unadjusted. MBA headlined its press release "Refinance Applications Decrease" and they did, although by only 2 percent from the previous week while the refinance share of applications inched up by 10 basis points to slightly under 60 percent. The...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11112015_application_volume.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Foreclosure Inventories Declining Faster in Judicial States

Hot news from AZ Home Help:

Posted To: MND NewsWire

The judicial foreclosure states appear to finally be clearing out their long-clogged foreclosure pipeline as foreclosure inventories declined notably on an annual basis in September. Completed foreclosures and serious delinquencies were also down on a year-over-year basis as reported in CoreLogic's September National Foreclosure Report. The foreclosure inventory, homes in the foreclosure process, declined from 621,000 properties in September 2014 to 470,000, bringing the rate among homes with a mortgage down from 1.6 percent to 1.2 percent. That rate is driven by the judicial foreclosure states; 18 of the 21 such states have rates above the national average while among the states with a non-judicial process only three and the District of Columbia exceed the national average. The five jurisdictions...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11102015_corelogic_foreclosures.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Hold Steady Near 4-Month Highs

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates did something they haven't done on any other day so far this month. They avoided moving higher. While that's a welcome change, to be sure, today's rates didn't move any lower on average. This keeps them in line with the highest levels in nearly four months. The journey has been a quick one as well, with the spike from 6-month lows to 4-month highs happening in just under 2 weeks. Lenders are easily back into the low 4 percent range. There's a relatively even split between aggressive lenders quoting 4.0% and less aggressive lenders at 4.125% on top tier conventional 30yr fixed scenarios. Yesterday, we discussed the possibility of rates experiencing a day like today simply because rates are increasingly likely to take a breather after an extended move in the same direction. This...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/529479.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Freddie Mac is Preparing Homeowners for HAMP Resets

Hot news from AZ Home Help:

Posted To: MND NewsWire

Freddie Mac is counting on an approach to delinquent borrowers it developed during the foreclosure crisis to forestall any new problems some of those same borrowers may encounter with their maturing loan modifications. The company is trying to be preemptive with the thousands of homeowners who had mortgages modified through the HAMP program and will soon be faced with interest rate resets. Lisa Cookson, Freddie Mac's vice president for single-family customer and operational services writes in the company's Executive Perspectives blog that Freddie Mac, working with several credit counseling services, developed a program ten years ago as an experiment to reach delinquent homeowners who were not in contact with their loan servicers. The program evolved from a 2005 survey which found that 31 percent...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11092015_housing_counselin_hamp.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Higher for 6th Straight Day

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates continued pressing into the highest levels since July --themselves the highest levels of the year. In just over a week, the most frequently quoted conventional 30yr fixed rate has moved from 3.75 to a range of 4.0-4.125%. Most lenders are quoting the same contract rates as Friday, with the weakness instead seen in the form of higher upfront costs. What's with all the drama? In a word: the Fed. There had been some remaining disagreement about when the Fed was most likely to begin raising rates after nearly 7 years of the record low 0-.25% target. Last Friday's jobs report helped get everyone on the same page. Unfortunately, the consensus is that the hike is all the more likely. While mortgage rates are not directly linked to the Fed Funds Rate, most interest rates tend to rise...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/529211.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Wells/DOJ settle; GSE Earnings; Lenders Helping Others

Hot news from AZ Home Help:

Posted To: Pipeline Press

"Every saint has a past, and every sinner has a future." The mortgage industry has both, and it is important to remember that individuals and companies do some fine works of charity around the nation - few of which are mentioned by the mainstream press. Today's commentary has a random cross-section of what many are doing to help others in need, big and small. Of course I can't print all of the efforts of hundreds of lenders and tens of thousands of individuals are doing, but it is important to remember that the industry is doing its part, and then some! Over the past 4 years, the employees of Fairway Independent Mortgage Corporation have contributed over $1.5 million dollars to Fairway's non-profit, the American Warrior Initiative, to fund initiatives all over the country for wounded veterans...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/channels/pipelinepress/11062015-unemployment-data.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

First-time Buyers called "Missing Link" in Recovery

Hot news from AZ Home Help:

Posted To: MND NewsWire

The share of first-time buyers is at the second lowest level in over 30 years the National Association of Realtors (NAR) said on Thursday. The 2015 release of its annual Profile of Home Buyers and Sellers reveals a home buying market driven by repeat buyers in two income households . Historically first time buyers constitute nearly 40 percent of primary home purchases but have declined in NAR's survey for three consecutive years and now have only a 32 percent share. NAR's chief economist Lawrence Yun called first-time buyers the missing link in the housing recovery and said there are several reasons why there should be more of these buyers in the market. He cited continuing low interest rates, healthy job prospects for college graduates, and the increasing costs to rent. "Unfortunately, there...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11052015_buyers_sellers.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Highest Since July After Jobs Report

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates leaped significantly higher today, following an exceptionally strong jobs report. Typically released on the first Friday of every month, the Employment Situation is the most important piece of economic data in the world (yes, the world). At the very least, it has more power to move financial markets than any other economic report. It flexed those muscles today, to be sure, but not necessarily for the regular reasons. Normally, the jobs report is a market mover simply because of its relevance to the broad economic trends. Bottom line, if the economy is creating more jobs than expected, then it's a bit stronger than we thought it was yesterday, so yesterday's bond yields ( aka "rates" ) and stock prices need to move higher in order to align with the brighter outlook. While there...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/528340.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

MBS MID-DAY: Jobs Report Leaves Nothing to Bond Market's Imagination

Hot news from AZ Home Help:

Posted To: MBS Commentary

Bond markets may well have been able to imagine a situation where NFP came in weak enough for some traders to doubt the Fed's resolve in hiking rates at the December meeting. I personally think that number would have to have been shockingly low for such a thing, but now that doesn't even matter. The number we ended up with left nothing to the imagination . Here's a run-down: NFP +271k vs 180k forecast Revisions added a negligible 12k jobs to the past 2 months Unemployment rate hit 5.0 vs 5.1 forecast/previous Participation rate was unchanged U-6 Unemployment dropped to 9.8% from 10.0% (first time under 10.0 since early 2008) private sector 268k vs 165k forecast, 149k previously (revised up from 118k) Hourly earnings +0.4 vs +0.2 forecast and 0.0 previously Average workweek unchanged...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/528012.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Higher Ahead of Important Jobs Data

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates rose at a slightly gentler pace today, but that's little consolation considering that any move higher increasingly pushes into the highest levels in 7 weeks. Behind the recent trend is last week's Fed Announcement and related comments from Fed Chair Yellen this week that stopped just short of promising a rate hike in December. While the Fed Funds Rate doesn't directly control mortgage rates, all rates tend to move higher when Fed rate hike expectations increase. There were no additional sources of pain for rates today, but the general trend remains negative ahead of tomorrow's Employment Situation Report-the most important piece of economic data each month. Although a weak result might stand some chance to temper Fed rate hike expectations, thus helping rates, a decent-or-better...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/527599.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

RealtyTrac: Sellers Cashing-Out as Market Plateaus

Hot news from AZ Home Help:

Posted To: MND NewsWire

It seems that homeowners can again reasonably expect that investing in a home might be a real investment . While buying a home certainly isn't a get-rich-quick-scheme, RealtyTrac said on Thursday that homeowners who sold their homes during the third quarter saw an average gain of 17 percent. That percentage, the largest since the third quarter of 2007, translates into a dollar gain that averaged $40,658 over the initial purchase price of the property. Homeowners who sold in the third quarter had owned their home for an average of 6.72 years. RealtyTrac's U.S. Home Sales Report for the third quarter indicates that the appreciation that has led to these home sale profits however has now slowed . The company said the average sale price of single family homes and condos nationwide during the quarter...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11052015_realtytrac_home_sales.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Back to 4 Percent After Yellen

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates maintained their upward momentum today, rising to the highest levels since late September after Janet Yellen confirmed the Fed's rate hike outlook. Bond markets (which include the mortgage-backed securities that most directly affect mortgage rates) began adjusting for that outlook last week after the Fed announcement. Markets saw a roughly 1 in 3 chance of a December rate hike before that announcement, and better than 50 percent afterward. The Fed Funds Rate is a short-term lending rate that does not directly dictate longer term rates like most mortgages rates, but it's common to see the entire spectrum of rates move higher in anticipation of a Fed rate hike. Clearly that anticipation increased last week, and only gathered steam into the current week. With Yellen scheduled to...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/526968.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Return to Normal Slows for Distressed Sales

Hot news from AZ Home Help:

Posted To: MND NewsWire

Sales of distressed properties, an increasingly negligible portion of all home sales, slipped even further in August. Sales of lender owned or REO properties constituted a 6 percent share and short sales accounted for another 3.3 percent. The combined total of 9.3 percent was down 0.4 percentage points from July and was 2.3 percentage points lower than the share in August 2014. The share of REO sales was the lowest since September 2007 when it was 5.2 percent however the short sale share has remained in the 3-4 percent range since mid-2014. While the share of distressed sales has diminished significantly since peaking at 32.4 percent in January 2009 the rate of decline seems to have slowed. As recently as June CoreLogic was projecting that the share of distressed sales would return to a pre...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11042015_corelogic_distressed_sales.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgage Rates Continue Pushing Into 1-Month Highs

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates rose at a quicker pace today, bringing them up to the highest levels in more than a month. October saw several of the more aggressive lenders get close to offering rates of 3.625% on top tier 30yr fixed scenarios. Those same lenders are all now easily back to 3.875% . Some of them are up to 4.0%. The move up to 3.875% might not seem significant on paper, but the past week has seen rates move up at the fastest pace since early June--itself only one of a handful of similar examples in 2015. The more troubling consideration is that the recent lows now run the risk of being cemented as a longer-term floor. With expectations for a December rate hike from the Fed, longer term rates (like mortgages) will have a hard time committing to any significant move lower unless something happens...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/consumer_rates/526439.aspx

- For more real estate news visit our website at http://www.AzHomeHelp.com

Mortgages? There (should be) an App for that

Hot news from AZ Home Help:

Posted To: MND NewsWire

Mortgage lenders may be missing out on an opportunity to offer consumers something they are asking for - a wider use of mobile technology in the mortgage process. Fannie Mae says its National Housing Survey (NHS) has shown a desire on the part of consumers to shop and apply for a mortgage via their mobile devices. At the same time the company's Mortgage Lender Sentiment Survey (MLSS) indicates that lenders still favor more traditional channels such as using loan officers, brick and mortar branches, and third party partnerships. Steve Deggendorf, Fannie Mae's Director of Business Strategy, writes in the FM Commentary blog that mobile devices are increasing used for a variety of financial transactions including bill payments and banking but are less common in the mortgage space. He says the lower...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/11032015_mortgages_and_technology.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com