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Mortgage Rates Lowest In Three Weeks Ahead Of Election
Posted to: Daily Newsletter
Monday, November 05, 2012 5:50 PM

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Nov 5, 2012 2:03PM

Mortgage Rates Lowest In Three Weeks Ahead Of Election

While some of the improvement came in the form of late day reprices on Friday, mortgage rates are appreciably lower to begin the week. Movement varied this morning with some lenders holding fairly steady while others improved at much quicker paces. Regardless of the stratification, the net effect is a Conventional 30yr Fixed Best-Execution rate that is firmly at 3.375%. The closing costs associated with 3.375% are the lowest they've been since mid October for most lenders. ( Read More:What is A Best...

Nov 5, 2012 12:06PM

The Cons of Brokering Out Loans; Barron's take on Radian; Reverse Mortgage Lending Slows

Here's something that may sway a few undecided voters. (Is anyone undecided at this point?) The U.S. debt ceiling is expected to be reached before 2013, the Treasury Department said, but default won't happen until early next year (if at all) because of extraordinary measures. The debt ceiling is $16.4 trillion - with a "T". Next Monday is observed by many companies as Veterans Day . It originated as "Armistice Day" on Nov. 11, 1919, the first anniversary of the end of World War I. Congress passed...


Micro News

3:00 PM:

Some Selling Pressure, MBS Off Highs, Negative Reprice Risk?

10:07 AM:

ECON: ISM Non-Manufacturing Weaker Than Expected, But Employment Improves

9:26 AM:

Bond Markets Open At Strongest Levels In Nearly Three Weeks

2:48 PM:

MBS Continue Flying High While Stocks Slide

10:04 AM:

ECON: Factory Orders Slightly Higher Than Expected

9:21 AM:

Bond Markets Moderately Weaker Following Payrolls Beat

8:45 AM:

ECON: NFP Much Stronger Than Expected, Upward Revisions

3:12 PM:

MBS Languish Just Above Lows As NFP Looms

Around the Web

Video News

Santelli: Compromise or Flip-Flopping?

Santelli's Morning Bond Update

Pre-Market Report: What You Need to Know


Today's Comments

Frank Ceizyk

"Catherine...take a deep breath and read what I wrote. "I am concerned about media reports indicating your administration is targeting the MID for..."

catherinecoy

"Frank, stop spreading your financial illiteracy on the Mortgage News Daily boards. Governor Romney NEVER said he would eliminate the MID on primary residences..."

Pat Ryan

"I try to attend most closings and went to 3 last week. My frustration with the industry is a bit less with the guidelines and more with the increased fees..."

Today's Q&A

"my real estate agent will not return my deposit on a home deal that did not go through"

"can i get my appraisal refunded ?"

"Can my husband and I add our adult dependent child to our mortgage when we refinance?"


View Newsletter: http://www.mortgagenewsdaily.com/channels/newsletter/281857.aspx

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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.16%
  • |
  • 15 Yr FRM 3.30%
  • |
  • Jumbo 30 Year Fixed 4.00%
MBS Prices:
  • 30YR FNMA 4.5 107-31 (0-03)
  • |
  • 30YR FNMA 5.0 110-10 (0-02)
  • |
  • 30YR FNMA 5.5 111-06 (0-00)
Recent Housing Data:
  • Mortgage Apps 1.90%
  • |
  • Refinance Index 0.38%
  • |
  • Purchase Index 3.71%