This email was sent to you by:
Anonymous |
|
Mortgage News Daily
|
Message: YOUR MESSAGE HERE |
Email alerts, such as this one, are a
free service provided by Mortgage News Daily. If you would like to receive an alert when important news breaks please
register to join our community.
Register with Mortgage News Daily - Registration is free and offers many benefits.
Manage your Email Alerts - Once you're registered, you can manage all MND email alerts on one page, turning subscriptions on or off with one click.
About MND:
Mortgage News Daily combines the expertise of some of the housing industry's leading minds with the power of social media to offer an always lively, constantly evolving web community. MND communicates breaking news, streams video, and provides expert opinion and commentary to a community of interested market professionals and curious consumers.Mortgage Rates Near Record Lows As Nervous Money Seeks Safe Haven
Mortgage backed securities continued to rally on Wednesday, closing within a quarter point of all time highs. As is typical during holiday shortened work week's, most lenders did not pass along the improvements; however, the rates we saw on Wednesday were still near record lows.
The big news this morning comes out of Dubai, which announced they were not able to honor their debt repayment schedule. They are asking for a six month reprieve on debt payments. This is causing a flight to quality bid as many investors sell riskier assets and buy the safest asset there is, U.S. Treasuries. Since MBS tend to play folllow the leader with Treasuries, MBS prices are moving higher this morning.
There are no economic reports being released today. The stock market will be closing at 1pm followed by the bond market at 2pm.
Reports from fellow mortgage professionals indicate lender rate sheets to be similar to what we had on Wednesday. This keeps the par 30 year conventional rate mortgage in the 4.50% to 4.75% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. There are several lenders offering 4.375% for consumers with exceptionally high FICO scores and loan to values under 60%.
Economic data picks up next week with all eyes on the Employment Situation Report, which is due out on Friday. Have a great weekend.
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.
This email was sent to you by:
|
Mortgage News Daily
|
 |
Anonymous Anonymous |
|
Message:
YOUR MESSAGE HERE
Mortgage Rates Near Record Lows As Nervous Money Seeks Safe Haven
Mortgage backed securities continued to rally on Wednesday, closing within a quarter point of all time highs. As is typical during holiday shortened work week's, most lenders did not pass along the improvements; however, the rates we saw on Wednesday were still near record lows.
The big news this morning comes out of Dubai, which announced they were not able to honor their debt repayment schedule. They are asking for a six month reprieve on debt payments. This is causing a flight to quality bid as many investors sell riskier assets and buy the safest asset there is, U.S. Treasuries. Since MBS tend to play folllow the leader with Treasuries, MBS prices are moving higher this morning.
There are no economic reports being released today. The stock market will be closing at 1pm followed by the bond market at 2pm.
Reports from fellow mortgage professionals indicate lender rate sheets to be similar to what we had on Wednesday. This keeps the par 30 year conventional rate mortgage in the 4.50% to 4.75% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. There are several lenders offering 4.375% for consumers with exceptionally high FICO scores and loan to values under 60%.
Economic data picks up next week with all eyes on the Employment Situation Report, which is due out on Friday. Have a great weekend.
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.