Mortgage Rates Still Waiting for Bigger News

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Posted To: Mortgage Rate Watch

Mortgage rates were almost flat again today . Most lenders were just a hair higher in costs vs yesterday. The most prevalent conventional 30yr fixed quote remains 4.0% for top tier scenarios, but 3.875% is still available. In general, the bond markets that drive mortgage rates are remaining nimble until they have a better sense of what the Fed will do in the policy meeting 2 weeks from now. As we frequently discuss, the Fed Funds Rate doesn't dictate 30yr mortgage rates, but the two tend to correlate over time. Moreover, the initial lift-off from record low rates will be a big deal for financial markets in general. It would be hard for mortgage rates not to get caught up in the volatility--most likely in a bad way. In other words, the sooner the Fed officially hikes OR the sooner the economic...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/508767.aspx

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

Managing Risk in High LTV Loans

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Posted To: MND NewsWire

In addition to its usual recap of economic and housing indicators and future projections this week's edition of Freddie Mac's Insights and Outlook sought to put any potential risk of its the new 97 percent mortgages in context. The mortgages, a program Freddie Mac calls Home Possible Advantage, were rolled out last spring and a similar program was introduced by Fannie Mae the previous autumn. The new mortgages have safeguards to limit the credit risks associated with the low down payments including solid FICO scores and require private mortgage insurance. A key element of the program is the elimination of layered risks; a combination of multiple risky features has been found to magnify the total risk of a loan. It was layered risk that presented a significant vulnerability to loss in loans...(read more)

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Source: http://www.mortgagenewsdaily.com/09022015_low_downpayment_loans_risk.asp

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

Global Uncertainty said Behind Busy Mortgage Week

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Posted To: MND NewsWire

Last week was the strongest one on a relative basis for mortgage applications in quite some time. The Mortgage Bankers Association (MBA) said that its Market Composite Index, a measure of application volume rose 11.3 percent on a seasonally adjusted basis during the week ended August 28. On an unadjusted basis the index was up 10 percent compared to the week ended August 21. It appeared to be the largest percentage gain in applications since January. A jump in applications for refinancing was credited for the higher volume during the week. The Refinance Index rose 17 percent to the highest level since April and the refinance share of mortgage activity increased to 58.7 percent from 55.3 percent the previous week. It was the highest share attributed to refinancing since March. Applications for...(read more)

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Source: http://www.mortgagenewsdaily.com/09022015_application_volume.asp

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

Mortgage Rates Fairly Steady; Volatility Still Looming

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Posted To: Mortgage Rate Watch

Mortgage rates didn't move much today. Whether or not you see today's rates in better shape vs yesterday depends on how your lender approached yesterday afternoon's quick deterioration in mortgage-backed-securities (the bonds that dictate mortgage rates). Many lenders recalled their initial offerings and raised rates yesterday afternoon. For those lenders, rates are slightly improved today. For lenders that didn't reprice yesterday, today's rates could actually be a bit worse. This stands to reason considering today's MBS levels are still weaker than yesterday morning's. We're in the middle of a potentially volatile week. Today could have been one of the days that contributed greatly to that volatility, had the economic data fallen farther from forecasts. As it happened, today's big manufacturing...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/508311.aspx

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

Owe more than your house is worth?

It might be time to consider a short sale and our team can help. We talk to the lenders and deal with them to take less for your house saving them time and hassle to foreclose on the home. You don't pay us to short sell your property, the lenders pay us at deal close. Call and talk to a Arizona short sale specialist today at (480) 241-4406. http://goo.gl/mke9F

Owe more than your house is worth?

It might be time to consider a short sale and our team can help. We talk to the lenders and deal with them to take less for your house saving them time and hassle to foreclose on the home. You don't pay us to short sell your property, the lenders pay us at deal close. Call and talk to a Arizona short sale specialist today at (480) 241-4406. http://goo.gl/mke9F

MBS RECAP: Widespread Negative Reprices as Bonds End Month Weaker

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Posted To: MBS Commentary

Treasuries went out the 'in' door for the month of August, with today's 3pm levels matching the opening levels from August 3rd (1st trading day of the month). MBS briefly traded near their August 3rd levels, but ended in noticeably weaker shape (MBS have been slowly but steadily underperforming Treasuries since QE3). By the end of the day, most lenders had repriced at least once. Data was inconsequential this morning, as was most everything else for bond markets apart from month-end tradeflows. That was a benefit at first, but a significant detractor by the end of the European session, and then again at the end of the domestic session. Those were the time frames (11am-noon, and 2-3pm) where we saw the big pushes of selling pressure. Why selling on month-end, you ask? After all,...(read more)

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Source: http://www.mortgagenewsdaily.com/mortgage_rates/blog/507856.aspx

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