Mortgage Rates: Best Execution Back to 4.875%

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Mortgage rates dodged a bullet last Friday following the release of the February Employment Situation Report . Although headlines indicated improving conditions in the labor market, stocks still sold off and a flight to safety helped rally the bond market and consumer borrowing costs. A "flight to safety" happens when investors are nervous about owning risky assets like stocks, but do not want to miss out on earning a return on their funds, so they allocate their money into risk-free government guaranteed U.S Treasury debt to provide a safe-haven AND an investment return. As benchmark Treasury yields fall on "flight to safety" buyer demand, prices of mortgage-backed securities move higher in unison. This allows lenders to reprice their rate sheets for the better and gives originators an opportunity...(read more)

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

Source: www.mortgagenewsdaily.com

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

The Day Ahead: Non-Farm Payrolls, Unemployment Rate, Hourly Wages, Factory Orders

Hot news from AZ Home Help:

Posted To: MBS Commentary

Interest rates moved mostly sideways in light overnight trading volumes. The same thing goes for stocks, totally sideways in a quiet marketplace. Unfortunately sideways overnight price action in benchmark Treasuries followed an abrupt spike in rates yesterday that carried the 10-year note outside its recently tight trading range, back into the middle of the broader month long range at 3.57%. Short selling was obvious in the futures market, we'd like to see those positions squeezed out today to confirm the recovery rally that has played out over the past three weeks. The 2s/10s yield curve steepened slightly to 278bps wide in the sell-off and is currently holding that level. Hawkish Inflation Rhetoric Sparks Short Selling in Bond Market Rate Techs: Neutrality Found Just Before High-Risk Event...(read more)

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

Source: www.mortgagenewsdaily.com

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

Retail Banks or Independent Lenders: Who Writes Better Mortgages?; Compensation Reform's Impact on Lock Desk Policies; Lots of Investor Bulletins

Hot news from AZ Home Help:

Posted To: Pipeline Press

My computer is back up and operational. It turns out that running two virus security systems simultaneously pretty much shuts down your computer - I incorrectly thought it would make it twice as safe! I went ahead and extracted & rebuilt the hard drives, reconfigured the back-up retrieval system, re-mapped the memory and broadband, and at this point I realize that I have no idea what I'm talking about. I will put out a special Saturday edition to make up for yesterday. On with the show -) Who writes better mortgages, banks or mortgage banks? The Chicago Fed published a paper that focuses on how competition among lenders affects mortgage loan characteristics. According to its study, and please don't complain to me, banks issue safer mortgages than independent mortgage banks. Further, mortgages...(read more)

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

Source: www.mortgagenewsdaily.com

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

STAR Scorecard: Loan Servicer Performance Metrics Explained

Hot news from AZ Home Help:

Posted To: MND NewsWire

Last week Fannie Mae announced the Servicer Total Achievement and Rewards Program or "STAR" which is intended to measure and evaluate the performance of servicer actions in helping homeowners avoid foreclosure. STAR's initial component, the Servicer Performance Scorecard, will provide regular snapshots and trends for key performance indicators to help servicers effectively assess their own progress. This week MND had the opportunity to obtain more details from Leslie Peeler who heads up the program. Peeler said that the scorecard measures how well servicers are fulfilling their obligation to help distressed borrowers but places no further reporting burden on the servicer s. Fannie Mae is currently in the process of using the scorecard and 2010 data to show servicers how well they met performance...(read more)

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

Source: www.mortgagenewsdaily.com

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

MBS MID-DAY: Reprices for Better Possible

Hot news from AZ Home Help:

Posted To: MBS Commentary

MBSonMND : MBS MID-DAY Open MBSonMND Dashboard FNMA 3.5 94-03 : +0-16 FNMA 4.0 98-08 : +0-13 FNMA 4.5 101-21 : +0-13 FNMA 5.0 104-18 : +0-10 GNMA 3.5 94-28 : +0-17 GNMA 4.0 99-21 : +0-14 GNMA 4.5 102-28 : +0-12 GNMA 5.0 105-31 : +0-10 FHLMC 3.5 93-29 : +0-16 FHLMC 4.0 98-03 : +0-14 FHLMC 4.5 101-19 : +0-13 FHLMC 5.0 104-14 : +0-10 Pricing as of 11:01 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBSonMND Dashboard . 10:42AM : ALERT: Tough Call on Reprices. Waiting for Market to Settle Stocks have fallen to new lows and MBS prices have moved to new intraday highs as a result. Gauging reprice potential is a tough job at the moment. Several of the major lenders have already released rate sheets. Rebate improvements are noted but do...(read more)

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

Source: www.mortgagenewsdaily.com

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

Rate Techs: Short-Term Targets Identified

Hot news from AZ Home Help:

Posted To: MBS Commentary

After some harrying high volatility moments in the immediate wake of the Employment Situation Report, benchmark 10's have dug in at their best levels since..... since yesterday. We're just approaching yesterday's opening levels. Still. The generally defensive bias of short sellers in the bond market adds a bit of optimism to the rates outlook. If it is indeed true that bonds are in the midst of a shift in technical tradig bias, from bearish to bullish, it will certainly take an extension of the behavior we witnessed today to confirm it. Let's take a look at some immediate targets that would help us lean in one direction or another. The chart below shows where noticeable pivot has developed around 3.49%. This is the inflection level that's whispered words of support in our ear during the darkest...(read more)

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

Source: www.mortgagenewsdaily.com

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

How Did the Employment Report Impact Mortgage Rates?

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

It was a volatile week for mortgage rates. Monday and Tuesday saw rates near their best levels in nearly a month. Consumer borrowing costs then got beat up on Wednesday and Thursday, so much that we had to up the "Best Execution" 30-year fixed mortgage rate to 5.000%. That's where we last left you, just ahead of today's high risk event: The Employment Situation Report CURRENT MARKET : The "Best Execution" conventional 30 year fixed mortgage rate has fallen BACK to 4.875%. For those looking to buy down their rate to 4.75%, this quote carries higher closing costs. The upfront cost of permanently buying down your rate to 4.75% is not worth it to many applicants. We would generally only advise the permanent floatdown if you plan to hold your new mortgage for longer than the next 10 years. Ask your...(read more)

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

Source: www.mortgagenewsdaily.com

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