Mortgage Rates: High-Risk Event Ahead

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

A seven day losing streak was finally put to an end yesterday.... just in time for a high-risk event. The official Employment Situation Report will be released tomorrow morning at 8:30am. This report is a market mover..... CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate is still 4.875%. For those looking to permanently buy down their rate to 4.75%, this quote carries higher closing costs. The upfront fee to permanently buy down your rate to 4.75% is not worth it to every applicant, we would generally only advise the permanent floatdown if you plan to keep your new mortgage outstanding for longer than the next 10 years. Ask your loan officer to run a breakeven analysis on any origination points they might require to cover permanent float down fees. On FHA/VA 30...(read more)

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Source: www.mortgagenewsdaily.com

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MBS RECAP: Reprices Reported After Auction

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Posted To: MBS Commentary

MBSonMND : MBS RECAP Open MBSonMND Dashboard FNMA 3.5 94-06 : +0-15 FNMA 4.0 98-13 : +0-14 FNMA 4.5 101-25 : +0-10 FNMA 5.0 104-21 : +0-10 GNMA 3.5 95-09 : +0-16 GNMA 4.0 100-01 : +0-15 GNMA 4.5 103-07 : +0-11 GNMA 5.0 106-02 : +0-10 FHLMC 3.5 94-00 : +0-15 FHLMC 4.0 98-07 : +0-14 FHLMC 4.5 101-19 : +0-09 FHLMC 5.0 104-14 : +0-10 Pricing as of 4:02 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBSonMND Dashboard . 2:46PM : ALERT: Bonds Break Post-Auction Bear Trend. Reprice Risk Reverses Following the auction, 10yr notes moved diagonally toward higher rates. Yields formed a triangle with higher lows and lower highs centered on the mid 3.47's. It was the bearish resistance trendline that broke first, and since that break, yields...(read more)

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Source: www.mortgagenewsdaily.com

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Mortgage Rates: Losing Streak Barely Broken

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

After SEVEN consecutive days of marginal increases, home loan borrowing costs finally stabilized today. This does not necessarily mean that costs are headed lower, it only implies they're "leveling off" as a high-risk event approaches on Friday in the form of the Employment Situation Report. CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate is still 4.875%. For those looking to permanently buy down their rate to 4.75%, this quote carries higher closing costs. The upfront fee to permanently buy down your rate to 4.75% is not worth it to every applicant, we would generally only advise the permanent floatdown if you plan to keep your new mortgage outstanding for longer than the next 10 years. Ask your loan officer to run a breakeven analysis on any origination points...(read more)

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Source: www.mortgagenewsdaily.com

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Case-Shiller: Home Price Double-Dip Materializing

Hot news from AZ Home Help:

Posted To: MND NewsWire

The January S&P/Case Shiller Home Price Indices , released by Standard & Poor's this morning, show further deceleration in the growth rates of home prices in most of the cities in the survey. The indices, which are billed by S&P as the leading measure of U.S. home prices, are constructed to track the price path of typical single-family homes in a number of metropolitan statistical areas (MSAs). The study uses matched price pairs of individual houses to construct a 20-City Composite Index and a 10-City Composite Index which are updated monthly. The indices have a base value of 100 which was set in January 2000. Thus a current index value of 150 indicates there has been a 50% appreciation since that date for a typical home in the subject market. The 10-City Composite was down 2.0...(read more)

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Source: www.mortgagenewsdaily.com

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Mortgage Rates: Seven Day Skid

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

Home loan borrowing costs drifted marginally higher for the seventh consecutive session today. The trend is not your friend! HERE is a chart. CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate is still 4.875%. For those looking to permanently buy down their rate to 4.75%, this quote carries higher closing costs. The upfront fee to permanently buy down your rate to 4.75% is not worth it to every applicant, we would generally only advise the permanent floatdown if you plan to keep your new mortgage outstanding for longer than the next 10 years. Ask your loan officer to run a breakeven analysis on any origination points they might require to cover permanent float down fees. On FHA/VA 30 year fixed "Best Execution" is 4.75%. 15 year fixed conventional loans are best...(read more)

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Source: www.mortgagenewsdaily.com

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Mortgage Rates: Trend Not a Friend

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

After hitting 2011 lows on a steady "flight to safety", home loan borrowing costs have drifted incrementally higher in six of the last six trading sessions. The week ahead carries the potential for the broader bond market to confirm a potentially fence-sitter unfriendly technical shift from bullish to bearish. It hasn't been noticeable on the surface because borrowing costs have been inching higher over the past few days, but thin margins are starting to add up and it's making us more nervous about a jump in "Best Execution" mortgage rates. This move has yet to be confirmed but we're definitely teetering on a shift... CURRENT MARKET : The "Best Execution" conventional 30-year fixed mortgage rate is 4.875%. For those looking to permanently buy down their rate to 4.75%, this quote carries higher...(read more)

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Source: www.mortgagenewsdaily.com

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Pending Home Sales Up 2.1 Percent in February

Hot news from AZ Home Help:

Posted To: MND NewsWire

The National Association of Realtors® (NAR) released its February Pending Home Sales Index (PHSI). The index is a leading indicator for the housing sector; it measures sales activity based on sales of single-family homes, coops and condos where contracts have been signed but the transactions have not closed. According to the data , pending home sales increased in February but with notable regional variations. The national Index rose 2.1 percent to 90.8 in February compared to 88.9 in January. This, however, is a drop of 8.2 percent from the Index figures in February 2010. Data comes from a large national sample which represents about 20 percent of existing-home sale transactions. The index is derived from a base of 100 representing the average level of contract activity during 2001, the...(read more)

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Source: www.mortgagenewsdaily.com

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