Mortgage Rates Battle Back After Yesterday's Losses

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Posted To: Mortgage Rate Watch

Mortgage rates fought back today , following their biggest single-day jump in more than 2 years on Thursday. Today's significant event was the Employment Situation report, which actually turned out to be not too significant for the bond markets that underlie mortgage rate movement. Given that the report was slightly stronger than expected, and that stronger economic data tends to push rates higher, we can conclude that today's resilience was mostly a factor of yesterday's weakness being overdone. It's important to understand that today could have gone either way. In fact, history suggests that big, unexpected spikes like yesterday's are more typically followed by several successive days of movement in the same direction. There are contrary examples of course, but far fewer . In terms of bond...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/539163.aspx

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

Biggest 1-Day Mortgage Rate Spike in 2 Years

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Posted To: Mortgage Rate Watch

Mortgage rates were crushed today , moving higher at the fastest single-day pace since 2013. The average lender saw a full eighth point hike in 30yr fixed rates today, which roughly equates to 1 point in terms of upfront cost (1% of the loan amount). Movement of this magnitude is not common. There are only 14 other days in the past 5 years that have been this bad or worse. Being among the top 15 days of the past 5 years puts it in a special category of days that are completely different from the average "very good" or "very bad" day. It takes a certain level of capitulation, panic, and momentum to break through the average day's range of rate movement. Once that happens, the follow-through almost defies logic , much like histories biggest volcanic eruptions are nothing like thousands of uneventful...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/538608.aspx

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

Unique Risk Factors for Non-traditional Mortgages

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Posted To: MND NewsWire

When it comes to mortgage risk there is a lot of good news. Sam Khater, CoreLogic's Deputy Chief Economist says in the current issue of the company's MarketPulse that underwriting remains tight compared to the early 2000s and serious delinquencies among recent originations are at a 20 year low. Risk factors such as negative equity and home prices are moving in the appropriate directions and risk as reflected in foreclosure starts and distressed sales have decreased. Cash sales remain elevated, lowering overall leverage and the economy continues to improve and the labor market to tighten. That said, Khater warns that there are some worrisome signs - red flags for risk. The percentage of what he calls " scratch and dent " loans - loans previously more than 60 days delinquent but since cured,...(read more)

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

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Don’t be a Victim to Foreclosure Scams

Foreclosure is a big nightmare for a homeowner. The dream you've worked so hard to have and give your family it's ideal home but due to unexpected finances maybe you are struggling to meet your monthly mortgage payment? In swoops some company saying "we'll bail you out and save your home!" Don't trust them. At AZ Home Help, we will help guide you to a solution that actually helps your situation instead of making it worse. Our expert agents help homeowner's, like you, avoid foreclosure but with a short sale. To learn more about how we can help you visit us online at http://goo.gl/JF7HrY

Don’t be a Victim to Foreclosure Scams

Foreclosure is a big nightmare for a homeowner. The dream you've worked so hard to have and give your family it's ideal home but due to unexpected finances maybe you are struggling to meet your monthly mortgage payment? In swoops some company saying "we'll bail you out and save your home!" Don't trust them. At AZ Home Help, we will help guide you to a solution that actually helps your situation instead of making it worse. Our expert agents help homeowner's, like you, avoid foreclosure but with a short sale. To learn more about how we can help you visit us online at http://goo.gl/JF7HrY

Mortgage Rates Steady to Slightly Higher

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Posted To: Mortgage Rate Watch

Coming off their best day in over a month, mortgage rates held mostly steady today. Some lenders were just slightly higher. This is somewhat of an accomplishment considering the movement seen in underlying bond markets. Specifically, bond markets suggested a bigger move higher in rates today, based on the typical level of correlation. That said, it's not uncommon to see rates hold steady on days that follow the sorts of big moves lower we saw yesterday. The reason is simple: lenders simply didn't adjust rates lower at the pace that market movement suggested. As such, they had an extra cushion for today's weakness, which was largely intact by the time the first rate sheets of the day came out. The average lender continues to quote 4.0% on top tier conventional 30yr fixed scenarios, but several...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/538023.aspx

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

Distressed Home Sales Creep Toward Normal

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Posted To: MND NewsWire

Is it our imagination or has the return to normal levels of distressed home sales become an agonizing endurance test? Despite a nearly steady downward trend the market share of distressed home sales in September remained nearly four times the pre-crisis level CoreLogic said that sales of bank-owned property or REO made up 6.4 percent of all home sales in September and short sales accounted for another 3.3 percent. The combined 9.7 percent distressed home share was down 2.4 percentage points from September 2014 and 0.1 percent on a month-over-month basis. The REO sales share was the lowest since it reached 6.7 percent in October 2007 . From that point REO sales continued to climb, reaching 27.9 percent in January 2009 when combined distressed sales peaked at 32.4 percent. The short sales share...(read more)

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Source: http://www.mortgagenewsdaily.com/12022015_corelogic_distressed_sales.asp

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