Google Alert – Mortgage rates

News 1 new result for Mortgage rates
 
Approach mortgage REITs with caution and an eye on the Fed
Chicago Sun-Times
Because the Fed has said it will keep rates at zero for the next two years, would you buy some of the mortgage REITS that yield 13 to 25 percent? Which REITs would you buy? And since the Fed has raised the debt ceiling and will raise it again soon,
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Google Alert – Mortgage rates

News 3 new results for Mortgage rates
 
Mortgage rates now below even lows of early 1950s
The Associated Press
WASHINGTON (AP) — Mortgage rates have skated near record lows for weeks. But now it can finally be said: Long-term rates in the United States have never been lower. This week, the average rate on a 30-year fixed mortgage fell to 4.01 percent,
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Higher US mortgage rates coming for costlier homes
Reuters
"The housing market is beginning to bottom out and mortgage interest rates are at historic lows," Obama said in a radio interview on Friday. "Home ownership is still going to be a central part of the American dream, and we want to encourage that.
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FHA Refinancing Made Easy with FHA Streamline Program
Mortgage Rates & Trends (blog)
If you rate is higher than this, you owe it to yourself to call us today at 877-868-2503. Speak to one of our licensed loan officers and see how much you could be saving. Mortgage rates are always changing. All rates were quoted at 10:20 PM,
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Mortgage Rates & Trends (blog)


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[Mortgage Rate Watch] – Mortgage Rates Inch Closer to ALL-TIME-LOWS

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Mortgage Rates Inch Closer to ALL-TIME-LOWS

Posted to: Mortgage Rate Watch
Friday, September 30, 2011 4:54 PM

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 Mortgage Rates continued to improve today, adding on to yesterday’s already impressive gains.  Best-Ex moved solidly down to lower of the two rates it had been straddling. 

That brings mortgage rates back even with or within an eighth of all time lows (depending on your scenario).  And with the Fed set to begin a new round of MBS (Mortgage-Backed-Securities) buying on Monday, AND with month/quarter-end trading factors out of the way, there’s a good chance that we’ll see more all time lows in the coming weeks.

Today’s Rates: 

  • BESTEXECUTION 30YR FIXED –   Firmly 3.875%
  • FHA/VA – still at 3.75% !!
  • 15 YEAR FIXED –  3.375%, 3.25% getting closer to viable
  • 5 YEAR ARMS –  low to mid 3% range, variations from lender to lender.

GUIDANCE:   Today’s gains bring rates back down to the lower end of their expected range.  Think of that range as having 4 levels.  When the cream-of-the-crop best-execution rate is as 4.125, the range is on one end of the spectrum, and when Best-Ex is at 3.75, that’s the other end.  3.875 and 4.0 are the two rates in between for a total of 4 available rates in this range.  Keep in mind that your quoted rate could be different depending on your scenario, but in terms of Best-Execution rates for the best qualified scenarios, this is the range.  So being at 3.875 is like being 3/4’s of the way to “as good as it gets,” Whereas yesterday at 2/4 would be more of a toss up.  If you’ve noted our tone recently shifting to be slightly more tolerant of floating, and you floated for the past few days, now it’s time to lock in those gains from a risk-reward standpoint.  We lean more heavily toward locking when Best-Ex is under 4.0 these days.  While we’re optimistic that there are a few more gains in store for MBS with the beginning of new Fed Buying, we’d hate to see 3.875 unexpectedly evaporate on some surprise headline out of Europe or turning point in economic data.

 

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[MBS Commentary] – MBS RECAP: 9/30/2011

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MBS RECAP: 9/30/2011

Posted to: MBS Commentary
Friday, September 30, 2011 4:24 PM

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MBSonMND: MBS RECAP
Open MBSonMND Dashboard
FNMA 3.5
102-26 : +0-14
FNMA 4.0
104-28 : +0-10
FNMA 4.5
106-03 : +0-09
FNMA 5.0
107-18 : +0-08
GNMA 3.5
104-17 : +0-16
GNMA 4.0
107-00 : +0-15
GNMA 4.5
108-22 : +0-13
GNMA 5.0
109-26 : +0-12
FHLMC 3.5
102-23 : +0-14
FHLMC 4.0
104-23 : +0-10
FHLMC 4.5
105-26 : +0-10
FHLMC 5.0
107-07 : +0-09
Pricing as of 4:04 PM EST
Afternoon Market Updates
A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBSonMND Dashboard .
No Market Updates Available
View Current Market Updates on MBSonMND Dashboard
Featured Market Discussion
A recap of the featured comments from the Live Discussion on the MBSonMND Dashboard .
Steve Chizmadia  :  “BTW. Congrats AQ and best of luck with your new venture. We’ll all miss you here”
Brayden Alexander  :  “and just for the hell of it, one last time… AQ, Float or Lock??”
Matt Hodges  :  “MG has kicked butt on analysis throughout that time”
Patrick McCarroll  :  “This place has come a long way since the MBS War Room”
Brayden Alexander  :  “Congrats AQ, will miss you!! Go CAPS!!!”
Tom Bartlett  :  “I just read about AQ’s new venture…I will miss his amazingingly accurate analysis of all things Mortgage related. He is a true master of the market! I wish you well AQ.”
Bobby Kurpinsky  :  “aq leaving caused the markets to swing “
Kunal Khanna  :  “Congrats Adam..you will be missed”
Bryan LaFlamme  :  “AQ. Are they gonna charge you $40/month to chat like the common-folk, now?”
Chris Kopec  :  “Good luck, AQ….knock their socks off.”
Jeff Anderson  :  “Yes, AQ. Thanks for everything and always going above and beyond. Good luck!”
Christopher Stevens  :  “AQ- best wishes in your new position!”
Brent Borcherding  :  “AQ–I don’t think there is a specific definition of a bear market, but isn’t a 20% decline a generally accepted view? What’s your definition?”
Jeff Anderson  :  “GMAC reprice for the better. Just over 3/8 better. Nice.”
Roger Moore  :  “ah, thanks for talking me off the locking clif on Wednesday. “

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[MBS Commentary] – Concrete Ceiling Remains Intact! But There’s A Twist!

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Concrete Ceiling Remains Intact! But There’s A Twist!

Posted to: MBS Commentary
Friday, September 30, 2011 3:30 PM

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In yesterday’s commentary, we noted that the stock lever has been well-connected and that the same could be true of today.  As you’ll see in the chart below, it is.  You’ll also see the biggest volume spike of the day at 3pm (those are 10yr futures contracts for the record).  That’s not because some major economic event or headline came across the wires, but rather because 3pm is day/week/month and quarter-end for bond markets.  Who knows what positioning intentions lurk in the hearts of traders leading up to such a moment!  (Actually, looks pretty simply like a bunch of quick, last-minute profit-taking.  Money flow decreased, indicating the closing out of positions, yields rose, but a willing buyer or two was waiting in the wings to bring things back to reality)

Speaking of reality, the 3pm quarter-end marks for 10yr yields confirm that the downtrend channel we’ve been following is very real indeed.  Yields sought out the mid-point of this trend channel:

The fact that benchmarks bounced so nicely near the top of that trend channel and rallied to confirm the bounce has been great for MBS staging their own version of the bounce.  As it turns out the “concrete ceiling” we thought was broken is actually very much intact, but somehow–teleportation maybe–we’re on the other side and just took a big old bounce on it.  Once again, here’s an ongoing look at the confirmation process of MBS’s bounce off what may turn out to be the new “Concrete Floor.” 

 

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Google Alert – Mortgage rates

News 2 new results for Mortgage rates
 
Higher US mortgage rates coming for costlier homes
Reuters
The average interest rate for a 30-year-fixed rate mortgage for a non-jumbo loan is 4.05 percent, compared with 4.81 percent for a jumbo loan, according to Bankrate.com. "It will reduce the buying power," said Dan Laytham, a real estate agent for Long
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BMO Canadian Housing Outlook: Tailwinds and Headwinds Point To Soft Landing
MarketWatch (press release)
– Tailwinds include low mortgage rates, relatively low unemployment and strong immigration, while high prices, elevated household debt and slowing employment are cause for concern. – More buyers are turning to variable rate mortgages on expectations
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[MBS Commentary] – Adam Quinones Departs MND for Fixed Income Markets Role

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Adam Quinones Departs MND for Fixed Income Markets Role

Posted to: MBS Commentary
Friday, September 30, 2011 2:24 PM

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The passion Adam Quinones has for improving the entire landscape of housing finance is undeniable.  I’ve never met anyone who has cared more about where we are and where we’re going as an industry.  Adam’s made great strides toward bridging the gap between primary and secondary mortgage market professionals in his 3 years as the Managing Editor at MND

But as of this week, Adam Quinones left MND to join the Fixed Income Markets Division of Thomson Reuters as their new Structured Cash-Flow Products Manager.  In this role AQ will use his wide range of industry knowledge to enhance existing Thomson Reuters MBS/ABS products and channel his creativity toward the development of new products.

 Although we’re sad to see AQ go, we’re happy that his new position will allow him to maintain a presence within the MND community.  My market dialogue with AQ has been very important to me over the years.  Because of Thomson Reuters relationship with MND, I look forward to being able to continue that dialogue.

Frank Ceizyk, one of the founding members of MND’s MBS community summed up the situation best when he said, “I’m excited about Adam’s new position. He is moving into a role that only enhances his panoramic vision of all things related to housing finance. Great things lie ahead for him.”

Glenn Setzer, President and Founder of MND added, “I believe I can speak for everyone in saying thank you to Adam for his contributions to this publication, this community and this industry, all of which have benefited from his knowledge. We wish you the best.”

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