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  • Thu, Apr 7 2016
  • 7:58 AM » Apollo's Push Into a Lending Business That Others Call Predatory
    Published Thu, Apr 07 2016 7:58 AM by Bloomberg
    Bloomberg Apollo's Push Into a Lending Business That Others Call Predatory Bloomberg Eight years after subprime mortgages all but disappeared, U.S. buyers with bad credit can still own homes. If they come up with a nominal down payment and stay current on their monthly bills, they'll get title to the property -- after as long as 30 years. and more »
  • Wed, Apr 6 2016
  • 2:17 PM » Fed debated April rate hike but caution reigned due to global fears: minutes
    Published Wed, Apr 06 2016 2:17 PM by Reuters
    WASHINGTON, April 6 (Reuters) - - Federal Reserve policymakers debated last month whether an interest rate hike would be needed in April though a consensus emerged that risks from a global economic slowdown warranted a cautious approach.
  • 2:17 PM » Minutes of the Federal Open Market Committee, March 15-16, 2016
    Published Wed, Apr 06 2016 2:17 PM by Federal Reserve
    Minutes of the Federal Open Market Committee, March 15-16, 2016
    Click Here to Read the Full Article

    Source: Federal Reserve
  • 2:16 PM » Las Vegas Real Estate in March: Sales Increased 4% YoY, Inventory Declines
    Published Wed, Apr 06 2016 2:16 PM by Calculated Risk Blog
    This is a key distressed market to follow since Las Vegas has seen the largest price decline of any of the Case-Shiller composite 20 cities. The Greater Las Vegas Association of Realtors reported Southern Nevada Home Prices and Sales Rise while Supply Stays Tight, GLVAR Reports According to GLVAR, the total number of existing local homes, condominiums and townhomes sold in March was 3,488, up from a strong showing of 3,358 in March of 2015 . Compared to the same month one year ago, 2.8 percent more homes and 8.3 percent more condos and townhomes sold in March. ... By the end of March, GLVAR reported 7,214 single-family homes listed without any sort of offer. That's down 0.6 percent from one year ago. For condos and townhomes, the 2,304 properties listed without offers in March represented a 5.8 percent decrease from one year ago. GLVAR continued to report declines in distressed sales and a corresponding increase in traditional home sales, where lenders are not controlling the transaction. In March, 5.9 percent of all local sales were short sales - when lenders allow borrowers to sell a home for less than what they owe on the mortgage. That's down from 8.3 percent of all sales one year ago. Another 7.1 percent of all March sales were bank-owned , down from 9.3 percent one year ago. emphasis added 1) Overall sales were up 3.9% year-over-year. 2) The percent of cash sales decreased year-over-year from 32.4% in Mar 2015 to 27.7% in Mar 2016. This has been trending down. 3) Non-contingent inventory for single-family homes was down 0.6% year-over-year.  Inventory is important to watch - and inventory is still tight.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 12:37 PM » Japan is Fast Approaching the Quantitative Limits of Quantitative Easing
    Published Wed, Apr 06 2016 12:37 PM by Bloomberg
    Bloomberg Japan is Fast Approaching the Quantitative Limits of Quantitative Easing Bloomberg The central bank's would-be counterparties have become increasingly unwilling to sell the debt that monetary policymakers have pledged to buy, and the most recently issued 30-year Japanese bond didn't record a single trade during a session last week as ...
  • 12:35 PM » Is America Having the Wrong Conversation About Income Inequality?
    Published Wed, Apr 06 2016 12:35 PM by The Atlantic
    Lucas Jackson / Reuters By now, no one is debating the fact that economic inequality has grown substantially in the past few decades . It seems that almost every day there's a new report showing that incomes and wealth continue to grow for the richest while everyone else struggles to make do. But when it comes to solutions, the conversation stalls. That may be because people are focusing on the wrong parts of of inequality, says Kevin Leicht, the head of the University of Illinois at Urbana Champaign's sociology department. In a paper recently published in The Sociological Quarterly , Leicht writes that the conversation about inequality in America revolves too much around disparities between groups-say, the earnings gap between white and black workers-and not enough on the disparities within them. He argues that most conversations about inequality distract from finding practical solutions, and suggest a misleading narrative about how to get ahead in America. I spoke with Leicht about his paper and his views on better ways to think about dealing with inequality. The interview below has been lightly edited for clarity. Gillian B. White: You start off your paper by saying that sociologists have been somewhat remiss in how they approach studying inequality. Can you talk to me about why you say that? Kevin Leicht: We have ignored growing inequality within race and gender groups and have focused more on closing gaps between race and gender groups. Social mobility in the U.S. has ground to a halt. So we still see over-representation of white men in elite status positions, but we're focusing on making those elite positions more diverse, and we're forgetting about the rest of the economy. White : You say gender and race are not driving factors of inequality. I think that feels confusing at a time when people hear a lot about the growing wealth gap between races and there's evidence that the gender-wage gap has stagnated. Can you walk me through your claim...
  • 12:35 PM » Millennial homebuyers: Go big or...
    Published Wed, Apr 06 2016 12:35 PM by CNBC
    Affordability isn't the only reason first-time homebuyers are sitting out this housing recovery.
  • 10:56 AM » Yields could creep even lower on 'toxic cocktail'
    Published Wed, Apr 06 2016 10:56 AM by CNBC
    Some fixed income experts are predicting the yields on euro zone benchmark bonds have more room to fall.
  • 10:56 AM » Election, economy hit vacation homebuyers
    Published Wed, Apr 06 2016 10:56 AM by CNBC
    With the nation's political future still uncertain, vacation homebuyers are leery of the economy to put money down on a discretionary purchase.
  • 10:55 AM » Reis: Mall Vacancy Rate unchanged in Q1 2016
    Published Wed, Apr 06 2016 10:55 AM by Calculated Risk Blog
    Reis reported that the vacancy rate for regional malls was unchanged at 7.8% in Q1 2016 compared to Q4 2015, and down slightly year-over-year from 7.9% in Q1 2015. This is down from a cycle peak of 9.4% in Q3 2011. For Neighborhood and Community malls (strip malls), the vacancy rate was also unchanged at 10.0% in Q1 2016 compared to Q4, and down year-over-year from 10.1% in Q1 2015. For strip malls, the vacancy rate peaked at 11.1% in Q3 2011. Comments from Reis Senior Economist and Director of Research Ryan Severino: The national vacancy rate for neighborhood and community shopping centers was unchanged during the first quarter at 10.0% . Although the national vacancy rate technically did not decline, net absorption continues to exceed new construction, a heartening sign for a market that remains mired in a slow but steady recovery. The vacancy rate for malls also did not change, remaining at 7.8% . For neighborhood and community centers, the flat vacancy rate is just a blip, with more vacancy compression likely ahead. However, for regional malls, the vacancy compression cycle has largely ended. While results from the first quarter have not shown any acceleration in the retail recovery, the overall economic environment remains conducive to further improvement. The labor market continues to generate more than 200,000 jobs per month on average, wages are slowly but surely inching higher, and retail sales continue to grow. Although the retail market clearly has no shortage of challenges - from e-commerce to new subtypes to experiential shopping - there is no reason to think that the recovery will not persist during the balance of 2016, even if the pace of the recovery does not accelerate much. ... Asking and effective rents grew by 0.5% and 0.6% respectively during the first quarter . Quarterly rental growth rates for neighborhood and community centers have been virtually identical for the last six quarters. Consequently, the year-over-year growth rates have also...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 9:39 AM » Boston Area Homebuyers Want a Place to Grow Into, but Wait for Marriage, Children
    Published Wed, Apr 06 2016 9:39 AM by newsroom.bankofamerica.com
    Dateline City: Boston, Mass. Inaugural Bank of America Homebuyer Insights Report Reveals Buyers Prioritize Cost and Neighborhood When Purchasing a Home As peak homebuying season begins, 47 percent of first-time homebuyers in the Boston metro area think money spent on rent would be better spent toward a mortgage, according to the inaugural Bank of America Homebuyer Insights Report , released today. However, first-time Boston buyers have not purchased a home yet because they are waiting for a life stage event (27 percent), such as marriage or having children. This is higher than the national average of 16 percent, and more than any other market surveyed. When considering a prospective home, cost (80 percent) and neighborhood (66 percent) are extremely important to Boston area buyers. Fifty-five percent also consider the floor plan and layout to be very important. Seventy-two percent of Bostonians are interested in buying a single-family home, and 61 percent are looking to settle down in the suburbs. The Bank of America Homebuyer Insights Report explores the attitudes, behaviors and preferences of the modern homebuyer, based on a national survey of more than 1,000 adults ages 18 and older who want to buy a home in the future. In addition, comparatively 300 adults were also surveyed in 10 local markets: Atlanta, Boston, Chicago, Dallas, Denver, Los Angeles, New York, San Francisco, Seattle and Washington, D.C. The report reveals what homebuyers want in a home, their catalysts for making the home purchase and the unique preferences of first-time and millennial buyers, defined as those between ages 18 and 34. Boston-specific highlights from the report include: Boston area homebuyers are driven by aspiration and emotion Aspirational and emotional factors motivate three-quarters of Boston first-time homebuyers. When making the decision to buy a home, 53 percent want a place to call their own, 51 percent cite owning a home as something they have always wanted to do, and 33 percent...
    Click Here to Read the Full Article

    Source: newsroom.bankofamerica.com
  • 9:38 AM » Denver Area Homebuyers Want to Buy for Financial Reasons, Prefer a Mortgage to Paying Rent
    Published Wed, Apr 06 2016 9:38 AM by newsroom.bankofamerica.com
    Dateline City: Denver, Colo. Inaugural Bank of America Homebuyer Insights Report Reveals Buyers Prioritize Cost and Neighborhood When Purchasing a Home As peak homebuying season begins, Denver metro area homebuyers are seeking a home for practical reasons, as the majority (58 percent) see homeownership as a financial investment, according to the inaugural Bank of America Homebuyer Insights Report , released today. As such, more than half are buying for the first time because they believe their money would be better spent on a mortgage than rent, compared to 37 percent of homebuyers nationally who say the same. When considering a prospective home, cost (83 percent) and neighborhood (54 percent) are extremely important to Denver area buyers. Fifty-three percent also consider the floor plan and layout to be very important. More than three-quarters of Denver buyers are interested in buying a single-family home, and 59 percent are looking to settle down in the suburbs. The Bank of America Homebuyer Insights Report explores the attitudes, behaviors and preferences of the modern homebuyer, based on a national survey of more than 1,000 adults ages 18 and older who want to buy a home in the future. In addition, comparatively 300 adults were also surveyed in 10 local markets: Atlanta, Boston, Chicago, Dallas, Denver, Los Angeles, New York, San Francisco, Seattle, and Washington, D.C. The report reveals what homebuyers want in a home, their catalysts for making the home purchase and the unique preferences of first-time and millennial buyers, defined as those between ages 18 and 34. Denver-specific highlights from the report include: Denver area homebuyers are driven by aspiration and emotion Aspirational and emotional factors motivate more than three-quarters of Denver first-time homebuyers. When making the decision to buy a home, 59 percent say they want a place to call their own, 45 percent cite owning a home as something they have always wanted to do, and 33 percent want a place...
    Click Here to Read the Full Article

    Source: newsroom.bankofamerica.com
  • 8:07 AM » People Might Be Worried About Subprime Auto Bonds Because of the 'Big Short' Movie
    Published Wed, Apr 06 2016 8:07 AM by Bloomberg
    Bloomberg Morgan Stanley: People Might Be Worried About Subprime Auto Bonds Because of the 'Big Short' Movie Bloomberg Auto loans made to risky borrowers and then bundled into bonds sold to investors have been making headlines for years, with some voicing concerns over an apparent resemblance between the so-called subprime auto market and the subprime housing ...
  • 7:58 AM » US Treasurys fall ahead of Fed minutes
    Published Wed, Apr 06 2016 7:58 AM by CNBC
    U.S. sovereign bond prices were lower on Wednesday morning amid a wider "risk-on" move in global asset markets.
  • 7:58 AM » Global Bond Yield Plunge to Record 1.3% in Flashing Warning Sign
    Published Wed, Apr 06 2016 7:58 AM by Bloomberg
    Bloomberg Global Bond Yield Plunge to Record 1.3% in Flashing Warning Sign Bloomberg The yield on the Bank of America Corp. Global Broad Market Index plunged to 1.3 percent, the lowest level in almost 20 years of data. Bonds in the gauge have returned 3.6 percent in 2016, while the MSCI All Country World Index of shares has slumped 1.5 ...
  • 7:56 AM » Goldman: "Household Formation Close to Normal"
    Published Wed, Apr 06 2016 7:56 AM by Calculated Risk Blog
    Wednesday: • Early: Reis Q1 2016 Mall Survey of rents and vacancy rates. • At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index . • At 2:00 PM, The Fed will release the FOMC Minutes for the Meeting of March 15-16, 2016 A few excerpts from a note by Goldman Sachs economists Shan and Daan Struyven: Household Formation Close to Normal Looking across various measures, we find that household formation has improved over the past few years and likely exceeded 1 million in 2015-an encouraging rebound from the subdued pace in years prior. We continue to forecast an annual household formation rate of 1.2 million over the next few years. This forecast, coupled with the decline in the vacancy rate, supports our constructive view on homebuilding. Overall, we see continued evidence that housing will remain a tailwind to the economy.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Tue, Apr 5 2016
  • 3:06 PM » Economy may not have grown at all in Q1
    Published Tue, Apr 05 2016 3:06 PM by CNBC
    It may turn out the economy did not grow at all in the first quarter.
  • 3:03 PM » Thinking about buying a home? You might be in luck
    Published Tue, Apr 05 2016 3:03 PM by CNBC
    Although home prices have risen rapidly, house hunters got some good news Tuesday.
  • 2:59 PM » Bond defaults are on the rise
    Published Tue, Apr 05 2016 2:59 PM by CNBC
    High-yield bond defaults are rising, and more bad news appears forthcoming.
  • 11:24 AM » Construction Job Openings at Cycle High
    Published Tue, Apr 05 2016 11:24 AM by eyeonhousing.org
    The count of unfilled jobs in the overall construction sector reached a post-Great Recession high in February. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) increased to 193,000 in February from a downwardly revised estimate of 157,000 in January. The current estimate beat the previous cycle high of 177,000 unfilled positions set last May and... Read More ›
    Click Here to Read the Full Article

    Source: eyeonhousing.org
  • 10:10 AM » ISM non-manufacturing rises in March
    Published Tue, Apr 05 2016 10:10 AM by CNBC
    The index hit 54.5 in March, higher than the 54 expected by Wall Street.
  • 9:36 AM » U.S. Economic Confidence Index Edges Up to -10 in March
    Published Tue, Apr 05 2016 9:36 AM by www.gallup.com
    In March, Americans' confidence in the economy was slightly higher than it was in February. More broadly, Gallup's U.S. Economic Confidence Index is at the upper end of the narrow range it has fallen in since July.
    Click Here to Read the Full Article

    Source: www.gallup.com
  • 9:36 AM » Home sellers adopt smart technology
    Published Tue, Apr 05 2016 9:36 AM by CNBC
    Even in a sellers' real estate market, outdated homes are hard to move, so sellers are turning to smart technology updates.
  • 9:36 AM » CoreLogic: House Prices up 6.8% Year-over-year in February
    Published Tue, Apr 05 2016 9:36 AM by Calculated Risk Blog
    Notes: This CoreLogic House Price Index report is for February . The recent Case-Shiller index release was for January. The CoreLogic HPI is a three month weighted average and is not seasonally adjusted (NSA). From CoreLogic: CoreLogic US Home Price Report Shows Home Prices Up 6.8 Percent Year Over Year in February 2016 Home prices nationwide, including distressed sales, increased year over year by 6.8 percent in February 2016 compared with February 2015 and increased month over month by 1.1 percent in February 2016 compared with January 2016, according to the CoreLogic HPI. ... "Fixed-rate mortgage rates dropped more than one-quarter of a percentage point in the first three months of 2016, and job creation averaged 209,000 over the same period," said Dr. Frank Nothaft, chief economist for CoreLogic. "These economic forces will sustain home purchases during the spring and support the 5.2 percent home price appreciation CoreLogic has projected for the next year." emphasis added Click on graph for larger image. This graph shows the national CoreLogic HPI data since 1976. January 2000 = 100. The index was up 1.1% in February (NSA), and is up 6.8% over the last year. This index is not seasonally adjusted, and this was a solid month-to-month increase. The index is still 6.5% below the bubble peak in nominal terms (not inflation adjusted). The second graph shows the YoY change in nominal terms (not adjusted for inflation). The YoY increase had been moving sideways over the last year, but has picked up a recently. The year-over-year comparison has been positive for forty eight consecutive months.
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • 8:14 AM » San Francisco Tech Firms See Workers Flee From $4500 Rents
    Published Tue, Apr 05 2016 8:14 AM by Bloomberg
    Bloomberg San Francisco Tech Firms See Workers Flee From $4500 Rents Bloomberg When automation-software company executive David Nichols and his wife were preparing to start a family last year, he learned that the rent on his San Francisco office was set to jump 50 percent. So he picked up and moved to Portland, Oregon.
  • 8:10 AM » US Treasurys rise amid weak sentiment
    Published Tue, Apr 05 2016 8:10 AM by CNBC
    U.S. sovereign bond prices were higher on Tuesday morning amid a "risk-on" move away from equities due to the slump in the oil price.
  • 7:56 AM » How a Millennial Fought Her Way to a Post-Recession Home Loan
    Published Tue, Apr 05 2016 7:56 AM by Bloomberg
    Bloomberg How a Millennial Fought Her Way to a Post-Recession Home Loan Bloomberg Ruth Paloma Rivera just bought her first home, battling her way through the paperwork obstacle course that is the post-crisis American banking system. In her initial attempt at obtaining a mortgage, the bank wanted a copy of her diploma from Rutgers ...
  • Mon, Apr 4 2016
  • 5:37 PM » WeWork gets into housing
    Published Mon, Apr 04 2016 5:37 PM by CNN
    Read full story for latest details.
  • 5:37 PM » Consumer banks face earnings pressure
    Published Mon, Apr 04 2016 5:37 PM by CNBC
    U.S. consumer banks, no different than their investment banking counterparts, are in for a tough quarter.
  • 5:36 PM » Treasuries Volatility Plunges as Interest-Rate Outlooks Converge
    Published Mon, Apr 04 2016 5:36 PM by Bloomberg
    Bloomberg Treasuries Volatility Plunges as Interest-Rate Outlooks Converge Bloomberg Volatility in the $13.3 trillion market for U.S. Treasuries is plunging, approaching the lowest since 2014, as traders wager yields will remain in a narrow range amid broad-based demand for U.S. debt and assurances that policy makers will raise ... and more »
  • 4:20 PM » The Fed: Why inflation expectations have fallen and won't get up
    Published Mon, Apr 04 2016 4:20 PM by Market Watch
    One market measure of inflation expectations has fallen sharply over the past two years and isn't likely to rebound soon, according to a research paper from the San Francisco Fed.
  • 1:06 PM » How are millions underwater as home prices rise?
    Published Mon, Apr 04 2016 1:06 PM by CNBC
    In total, 3.2 million homeowners nationally still owe more on their mortgages than their homes are currently worth. How can that be?
  • 1:06 PM » Budding Signs of a Crazy Spring Buying Season
    Published Mon, Apr 04 2016 1:06 PM by www.realtor.com
    As we close the books on March 2016, here's a look at the key trends setting the stage for a crazy spring buying season. The post Budding Signs of a Crazy Spring Buying Season appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 10:52 AM » U.S. factory orders fall; business spending on capital weak
    Published Mon, Apr 04 2016 10:52 AM by Reuters
    WASHINGTON, (Reuters) - New orders for U.S. factory goods fell in February and business spending on capital goods was much weaker than initially thought, the latest indications that economic growth remained sluggish in the first quarter.
  • 10:52 AM » Rosengren to markets: You have it all wrong on rate hikes
    Published Mon, Apr 04 2016 10:52 AM by CNBC
    Futures markets are wrong, and the Fed likely should hike rates sooner than implied, Boston Federal Reserve President Eric Rosengren.
  • 8:38 AM » US Treasurys rise as investors eye oil, Fed speakers
    Published Mon, Apr 04 2016 8:38 AM by CNBC
    U.S. sovereign bond prices were higher with investors closely watching a spike in the price of oil and awaiting more comments from Fed members.
  • 8:38 AM » How to Get a Home Without Getting in Trouble
    Published Mon, Apr 04 2016 8:38 AM by Freddie Mac
    By VP Joan Ferenczy Ah, spring – when people buy homes, find new places to rent, write checks, sign complex legal documents and – too often – fall victim to real estate fraud. That's why it is so important to know how to protect yourself from fraud before you sign along the dotted line on a lease or a closing document. Read More
  • 8:36 AM » Black Knight February Mortgage Monitor
    Published Mon, Apr 04 2016 8:36 AM by Calculated Risk Blog
    Black Knight Financial Services (BKFS) released their Mortgage Monitor report for February today. According to BKFS, 4.45% of mortgages were delinquent in February, down from 5.09% in February, and the lowest since April 2007. BKFS also reported that 1.30% of mortgages were in the foreclosure process, down from 1.72% a year ago. This gives a total of 5.75% delinquent or in foreclosure. Press Release: Black Knight's February Mortgage Monitor: Negative Equity Rates Improve, But Lowest-Priced Homes Continue to Struggle; "Serial Refinancers" Played Large Role in 2015 Refi Wave Today, the Data & Analytics division of Black Knight Financial Services, Inc. released its latest Mortgage Monitor Report, based on data as of the end of February 2016. This month, in light of its recent reports on rising equity levels nationwide, Black Knight looked at those on the other end of the spectrum and found that as of the end of 2015, there were still 3.2 million borrowers in negative equity positions, representing $126 billion in underwater first and second lien housing debt. While negative equity rates continue to improve on the national level, the recovery is decidedly imbalanced in terms of both home price levels and geography. As Black Knight Data & Analytics Senior Vice President Ben Graboske explained, borrowers whose homes are in the lowest tier of home prices continue to struggle with high negative equity rates. "Throughout 2015, the negative equity population in the U.S. decreased by over 30 percent, bringing another 1.5 million homeowners out from underwater on their mortgages ," said Graboske. "However, even after four years of improvement, the recovery has not reached all corners. When we looked at the population by home price levels, we found that over half of the nation's underwater properties are in the lowest 20 percent of their respective markets. That's the highest share on record. In fact, while the national negative...
    Click Here to Read the Full Article

    Source: Calculated Risk Blog
  • Fri, Apr 1 2016
  • 3:33 PM » Rents Are Shooting Up in These Fast-Growing U.S. Cities
    Published Fri, Apr 01 2016 3:33 PM by www.realtor.com
    Rents rose the fastest in the cities of Colorado Springs, CO, Orlando, FL, and Providence, RI, according to a new report. The post Rents Are Shooting Up in These Fast-Growing U.S. Cities appeared first on Real Estate News and Advice - realtor.com .
    Click Here to Read the Full Article

    Source: www.realtor.com
  • 3:32 PM » The best, (and less best) ways to tap the equity in your home
    Published Fri, Apr 01 2016 3:32 PM by Market Watch
    When you want to "tap out" here's how to do it without losing your shirt
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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.66%
  • |
  • 15 Yr FRM 2.94%
  • |
  • Jumbo 30 Year Fixed 3.61%
MBS Prices:
  • 30YR FNMA 4.5 108-30 (0-02)
  • |
  • 30YR FNMA 5.0 110-19 (0-02)
  • |
  • 30YR FNMA 5.5 111-26 (-0-04)
Recent Housing Data:
  • Mortgage Apps 10.03%
  • |
  • Refinance Index 11.33%
  • |
  • Purchase Index 8.43%