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Real Estate News |
How Did The Employment Report Affect Mortgage Rates?
Fri, 03 Sep 2010 20:38:00 GMT
Posted To: Mortgage Rate WatchIt is the first Friday of the month and that brings us the official government report on the labor market: The Employment Situation Report, the most highly anticipated montly dataset available to the market. This release..[read more]
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All Signs Point to Higher Rates in Week Ahead
Fri, 03 Sep 2010 16:48:00 GMT
Posted To: MBS CommentaryNFP has come and gone, let's see where things stand.... The October delivery FNCL 4.0 is -0-09 at 102-15. In the chart below I called attention to a few technical inflection points. The ascending trend channel that helped mor..[read more]
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FHFA Establishes New Housing Goals for GSEs
Fri, 03 Sep 2010 14:44:03 GMT
Posted To: MND NewsWireThe Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises) has established its final housing goals for the Enterprises in 2010-2011. FHFA is required by the Housing and Economic Recov..[read more]
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Banks Prefer Cash Buyers in REO Sales; Freddie Mac Streamline Refi Program; Originator Capacity Constraints; Comments on Property Flipping
Fri, 03 Sep 2010 14:26:24 GMT
Posted To: Pipeline PressIf there's one thing that an investor will never let any originator off the buyback hook for, it's fraud . Not only that, but the penalties can go far beyond merely buying back the loan, and saying' "My bad." Just in the last..[read more]
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Employment Situation Report: -54K Total Job Losses. Private Sector Adds 67k Positions. Bonds Sell
Fri, 03 Sep 2010 12:30:00 GMT
Posted To: MBS CommentaryTHE EMPLOYMENT SITUATION – AUGUST 2010 – BETTER THAN EXPECTED From the Release... Nonfarm payroll employment changed little (-54,000) in August, and the unemployment rate was about unchanged at 9.6 percent, the U...[read more]
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The Day Ahead: August Employment Data to Drive Markets
Fri, 03 Sep 2010 12:13:00 GMT
Posted To: MBS CommentaryMarkets are roughly flat Friday morning ahead of the widely anticipated employment report for August, which at 8:30 eastern time is set to show that jobs declined for the third straight month. Ninety minutes before the openin..[read more]
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Mortgage Rates Move Higher Before Jobs Data
Thu, 02 Sep 2010 21:42:00 GMT
Posted To: Mortgage Rate WatchWhat a boring day in the markets! Stocks added to yesterday's gains and bonds added to their losses. This pushed mortgage rates marginally higher. The best 30 year fixed mortgage rates are still in the 4.125% to 4.375% r..[read more]
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Pending Home Sales Rebound from Record Low. What Might Boost Buyer Demand?
Thu, 02 Sep 2010 20:25:00 GMT
Posted To: MND NewsWireThe National Association of Realtors released the Pending Home Sales Index today. NAR's Pending Home Sales Index measures the number of home purchase contracts that were signed in the monthly reporting period. Once "pending" sa..[read more]
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Fed Hosts Neighborhood Stabilization Summit
Thu, 02 Sep 2010 18:07:00 GMT
Posted To: MND NewsWireCommunity organizers, state and federal government officials, and representatives from banking, research and educations institutions are currently meeting in Washington at a REO and Vacant Properties Summit sponsored by the Fed..[read more]
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Pre-NFP Outlook Plus Loan Pricing Comparison
Thu, 02 Sep 2010 16:42:00 GMT
Posted To: MBS CommentaryWhat a rough morning! It appears my hard drive no longer wants to work. I tried to reach out for help, but no one answered. Then my gf called and reminded me that today is 9.02.10. This explains why Glenn is M.I.A, he's curle..[read more]
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Litany of Investor Bulletins: Mortgage Insurance, Appraisal Photos, Originator IDs, Incomplete GFEs, 203(b)'s, Reserve Requirements, No More ARMs
Thu, 02 Sep 2010 15:39:54 GMT
Posted To: Pipeline PressIt's good to know the jumbo market is alive and well! Alive and well for Tiger Woods who just got a residential construction loan for $54.5 million on Jupiter Island in Florida, which he agreed to pay back by January 2016. Of..[read more]
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Eliminate Investor Credit Overlays by Selling Directly to the GSEs
Thu, 02 Sep 2010 15:25:52 GMT
Posted To: The Garrett Watts ReportI’ve been on the road for the past three weeks, mostly performing reviews of mortgage bankers for warehouse lenders. I am happy to report that all channels of origination are doing well. I’m no longer he..[read more]
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Expanding the Pool of Eligible Homeowners: Common Sense Underwriting Needed
Thu, 02 Sep 2010 14:35:00 GMT
Posted To: Voice of HousingIt seems our economy is unable to promote a significant level of consumer spending without some sort of Federal Assistance. Given that this is an election year where the outcome has the potential to be especially significan..[read more]
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The Day Ahead: Jobless Claims, Pending Home Sales, Productivity
Thu, 02 Sep 2010 12:27:11 GMT
Posted To: MBS CommentaryInterest rates are modestly higher this morning after equities closed nearly 3% higher Wednesday. Ninety minutes before the opening bell, S&P 500 futures are just below yesterday's high at 1081.25 and the benchmark 10-yea..[read more]
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New Mortgage Rate Lows Lost as Stocks Rally and Bonds Correct
Wed, 01 Sep 2010 20:50:00 GMT
Posted To: Mortgage Rate WatchMortgage rates had a great day yesterday. This is the message we communicated to readers... ATTENTION: Mortgage Rates Hit New Lows If you've been floating your loan or have yet to apply for a refinance because it just di..[read more]
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Recap and Charts: July Construction Spending Data
Wed, 01 Sep 2010 18:31:00 GMT
Posted To: MND NewsWireThe Census Bureau today released Construction Spending data for July 2010. Residential construction spending includes remodeling, additions, and major replacements to owner occupied properties subsequent to completion of origin..[read more]
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Rising Refi Index Indicative of Pickup in Prepay Speeds on Recent Vintage MBS
Wed, 01 Sep 2010 16:35:00 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 27, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applicat..[read more]
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Another Review of Originator Compensation Regs; Loan Programs That Don't Require an Appraisal; JP Morgan Cuts Deal to Reduce Buyback Exposure
Wed, 01 Sep 2010 16:14:30 GMT
Posted To: Pipeline PressRates continue to trend lower, helped yesterday by the release of the FOMC meeting's minutes which alluded to the possibility of the Fed reinvesting in MBS's. (But heck, as one trader told me, low mortgage rates are helping a..[read more]
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Bond Market Suffers as Investors Reallocate Funds into Riskier Assets
Wed, 01 Sep 2010 14:12:00 GMT
Posted To: MBS CommentaryStocks are rallying and the bond market is taking a beating after a much better than expected read on the manufacturing sector. The August ISM Manufacturing Index came in at 56.3 vs. economist estimates for a read of 53.0. Th..[read more]
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Fed Leaves Door Open to Buy More MBS if Needed
Wed, 01 Sep 2010 12:47:00 GMT
Posted To: MBS CommentaryProduction MBS coupon prices hit new record highs yesterday, pushing mortgage rates through the 4.25% barrier to new lows. "Rate sheet influential" MBS coupons were led higher by longer dated Treasuries, which benefitted from..[read more]
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The Day Ahead: Stocks Rally Ahead of Jobs, Manufacturing Data
Wed, 01 Sep 2010 12:21:00 GMT
Posted To: MBS CommentaryThe first day of September looks to open strongly while investors await key data on employment and manufacturing. About ninety minutes before the opening bell, S&P 500 futures are up nearly 12 points to 1,060 and Dow futu..[read more]
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Lock Desks Buy Back Hedges. Potential Shift in Production Coupon Looms
Tue, 31 Aug 2010 21:44:00 GMT
Posted To: MBS CommentaryYesterday we heard banks were buying back MBS hedges. This means lock desks were actively reducing their pipeline coverage (forward hedges) to account for an expected increase in fallout. More fall out = less deliverable loan..[read more]
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ATTENTION: Mortgage Rates Hit New Lows
Tue, 31 Aug 2010 21:18:00 GMT
Posted To: Mortgage Rate WatchIf you've been floating your loan or have yet to apply for a refinance because it just didn't seem worth the hassle, congratulations, mortgage rates hit new lows today, it's now worth the hassle! If you've refinanced in ..[read more]
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S&P/Case-Shiller: Home Prices Rise in June. Tax Credit Hangover Ahead
Tue, 31 Aug 2010 19:52:00 GMT
Posted To: MND NewsWireThe Standard & Poor's/Case-Shiller U.S. National Home Price Index was up 4.4 percent in the second quarter of 2010, more than recovering from the 2.9 percent loss that was suffered in the first quarter, but the index commit..[read more]
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Production MBS Coupon Hits New High. Loan Pricing Noticeably Better as 3.5s Trade Forward
Tue, 31 Aug 2010 16:26:00 GMT
Posted To: MBS CommentaryWhile 2 of the 3 top tier data sets released this morning failed to improve on a month to month basis, 2 of those 3 were better than economists were expecting. Consumer Confidence perked up and beat consensus forecasts while ..[read more]
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