Mortgage Market Buzzing with Activity On All Fronts

Hot news from AZ Home Help:

Posted To: MBS Commentary

What a day! The markets have opened stronger in MBS and treasuries which will likely give a nice lift to most morning rate sheets. But there are some SERIOUS risks involved with current levels. Additionally, the GSE-Reform white paper is out which we'll be covering in detail today. It's just one of those mornings that feels "electric." If you want to really experience that electricity on both the market level and by discussing the impending changes to mortgage guidelines, then you have to get yourself into the MBSonMND Dashboard TODAY. We've mentioned MBSonMND in the blog recently, but try not to push it too hard in this venue. But if the goal of the MBS commentary is to keep you up to speed on the market-based changes and contribute in some way to your overall market savvy and success, then...(read more)

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Source: www.mortgagenewsdaily.com

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

Good Riddance 30-Year Fixed Mortgage? Not So Fast...

Hot news from AZ Home Help:

Posted To: Voice of Housing

Peter J. Wallison's recent article in the Wall Street Journal on government support in the residential housing market, " What's So Special About the 30-Year Mortgage ? ", is an interesting academic exercise but it has no relevance to the reality of the U.S. housing market. While it is true that, for many years over the life of a 30-year loan, most of the payments go toward interest payments and not principle, if we were to remove the tax deductibility of the interest paid (regardless of the term of amortization) as some have suggested, we would remove another 33% of value from the American homeowner, based on the marginal rate at the Federal level of 28% and the average State and local tax rate of 5%. Removing the backstop of federal protection for the 30-year loan to reduce the amortization...(read more)

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Source: www.mortgagenewsdaily.com

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

Mortgage Rates: Say No to Snowballing!

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

A 7-week mortgage rates range was finally broken last Friday. The directional move that took place afterward was not fence-sitter friendly. "Best Execution" home loan borrowing costs rose rapidly. "Teetering on a ledge" <--- That's how we would describe this week in the primary mortgage market. WHAT ARE WE TEETERING ON? WHAT'S AT STAKE? Potentially another 0.25% to 0.375% move higher in "Best Execution" mortgage rates. That's right. Right after we just experienced a frustratingly large spike last week...the potential for another still exists. The uncomfortably quick move was a function of a phenomenon we call "snowball selling" . Snowball selling in the secondary mortgage market forces lenders to reprice their rate sheets for the worse. Snowball selling has been known to warrant multiple...(read more)

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Source: www.mortgagenewsdaily.com

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

Production MBS End Week on Good Note

Hot news from AZ Home Help:

Posted To: MBS Commentary

Just like sometimes we see profit taking after a nice rally, sometimes we see profit taking after a sell off. We're talking about short sellers. These traders are looking for interest rates to rise. When rates do rise and trader's think they might stop rising, that short position is "covered". This effectively books a profit on a bearish tactical trading bias. Short covering has been a sizable component of the benchmark TSY price gains we've seen since Tuesday. This short covering has also helped FNCL 4.5's bounce higher since touching 100-00 on Tuesday. REMEMBER PARNERTIA? Short covering rallies aren't our favorite because they don't necessarily speak to organic strength in bonds. But they do provide a hint of positivity. Short covering implies traders are nervous about their bearish positions...(read more)

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Source: www.mortgagenewsdaily.com

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

MBS MID-DAY: Near Intraday Highs

Hot news from AZ Home Help:

Posted To: MBS Commentary

MBSonMND : MBS MID-DAY Open MBSonMND Dashboard FNMA 3.5 92-30 : +0-18 FNMA 4.0 97-00 : +0-17 FNMA 4.5 100-17 : +0-16 FNMA 5.0 103-17 : +0-13 GNMA 3.5 93-25 : +0-20 GNMA 4.0 98-10 : +0-17 GNMA 4.5 101-24 : +0-16 GNMA 5.0 104-24 : +0-13 FHLMC 3.5 92-25 : +0-18 FHLMC 4.0 96-28 : +0-16 FHLMC 4.5 100-14 : +0-15 FHLMC 5.0 103-12 : +0-14 Pricing as of 11:02 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBSonMND Dashboard . 10:41AM : MBS Continue To Rally, Better Rate Sheets (Or Reprices For The Better) FNCL 4.5's are up 15 ticks on the day now to 100-16. This is more than enough for lenders who priced early to reprice for the better or at the very least for opening rate sheets to be improved over yesterday. With respect to the continuation...(read more)

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Source: www.mortgagenewsdaily.com

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

New Scottsdale Short Sale - Gorgeous Custom Territorial

We have just listed another beautiful Scottsdale short sale home!!!  This custom property sits in the privated gated subdivision of Los Abrigados right in the heart of Scottsdale!  More information about this property is available on our Scottsdale Real Estate Blog, Scottsdale Realtor website, and on our Scottsdale short sale expert site.

www.ScottsdaleHomeSite.com

www.AzHomeHelp.com

Mortgage Rates: Setback Suffered. Bleeding Still Stopped

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Yesterday was one of those "GOOD NEWS/BAD NEWS" sorta days. The good news was mortgage rates ended a damaging 5 day losing streak The bad news was the bleeding had only just stopped. We weren't recovering. Still, at the end of the day there was a positive perspective to be taken away. "Stop the bleeding" was a required pre-cursor to the "first real chance for notable improvements" that we hoped to see today. Unfortunately those improvements did not come. We got close but lost positive progress before the day was done. Lenders repriced for the worse. That erased yesterday's teeny-tiny bit of betterness (is that a word?). This is a setback for those in need of a rapid turnaround in "Best Execution" mortgage rates. Not a major one. Not yet at least. And we're still a few more bad days away from...(read more)

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Source: www.mortgagenewsdaily.com

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