Refinance Opportunities
Mortgage rates have been declining since December 2008. We have seen great improvements in the Conforming 30YR Fixed programs. However, the market is still very volatile, so rates do fluctuate quite a bit on the daily basis.
The best way to take advantage of this short term opportunity is to get all of your paperwork ready. That way, when rates reach the point where a refinancing makes sense, you'll be able to pull trigger right away.
To explore your options and request a free mortgage planning session, Contact me today!
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 Mortgage News Daily
MBS AFTERNOON: Mortgages Playing Follow the Leader with Benchmarks - 1 hour ago
Posted To: MBS CommentaryHeading into the 5pm "what a slow day in the mortgage market" marking period... The FN 4.0 is -0-03 at 98-01 yielding 4.189% and the FN 4.5 is flat on the day at 101 the rock yielding 4.39%. The secondary market current coupon is 4.33%. The CC yield is 61bps over the 10yr TSY note yield and 58.6 basis points over the 10 yr swap rate. Static current coupon yield spread valuations are TIGHTER AGAIN! Holy relentless yield spread tightening! LOOK HOW SIDEWAYS FN 4.5 PRICES WERE TODAY! The MBS NINJA shares his thoughts on the recent stability of "rate sheet influential" MBS coupons in the face of rising benchmark yields: Mortgages, trading in the secondary market (soon to filter back to the primary and rate sensitive one), are tightening daily as more money is put to work along...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
FICO: Americans More Likely to Default on Mortgages than Credit Cards - 2 hours ago
Posted To: MND NewsWireAmerican consumers are now defaulting on their mortgages in even greater numbers than they are walking away from credit card debt. According to FICO's® Score Trends Service, this is a phenomenon that is historically unique. FICO said the mortgage default risk for consumers with high FICO scores now exceeds their credit card default risk, even though most credit cards are unsecured credit and mortgages are secured by real estate. There is a parallel rise in mortgage delinquencies for these high scoring consumers. The company said that their analysis of trends in FICO scoring shows that recent repayment behavior has shifted significantly from what has historically been expected. In 2005 bankcard accounts were more than 3 times more likely to become seriously delinquent, that is 90+ days...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS LUNCH: 10 Year Treasury Auction Results and Reactions - 3 hours ago
Posted To: MBS Commentary10 year auction has impressive demand, but at higher rates. 3.45 Bid To Cover, but 3.735 % high yield with 70.94% of the bids at high yield MBS and Treasuries both slightly better on the announcement 4.5's are now down only 2 ticks on the day at 100-29 and 10yr yields are back down to 3.72+ from 3.74+ Here is a breakdown of the auction results: 9-YR 11-MO NOTES YIELDS High 3.735 pct Median 3.700 pct Low 3.636 pct PRICE/ACCEPTANCES Price 99.090493 Accepted at high 70.94 pct Bid-to-cover ratio 3.45 AMOUNTS TENDERED AND ACCEPTED (dollars) Total accepted 21,000,013,800 Total public bids tendered 72,466,493,000 Competitive bids accepted 20,829,510,800 Noncompetitive bids accepted 70,503,000 Fed add-ons 248,452,700 Primary Dealer Tendered 49,661,000,000 Primary Dealer Accepted 9,857,410,000 Primary...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Loan Demand Stagnates. Only One Bright Spot in the Production Slowdown - 4 hours ago
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending March 5, 2010. The survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates an increase in home buying interest, a positive for the housing industry and economy as a whole. Furthermore, in a low mortgage rate environment, such a trend implies consumers are seeking out lower monthly payments which can result in increased disposable income and therefore more money to spend on discretionary items or to pay down other debt. From the release: The Market Composite Index, a measure of...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. |
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