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Mortgage News Daily

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Data Shows Continued Migration to 15yr Term; To be Frank
Posted to: Daily Newsletter
Tuesday, November 13, 2012 4:50 PM

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Nov 13, 2012 4:47PM

Freddie Mac Refi Data Shows Continued Migration To 15yr Term

Freddie Mac reported on Tuesday that nearly a third of the borrowers who refinanced their loans in the third quarter chose new loans with a shorter maturity. Twenty-nine percent of all refinancing borrowers chose a shorter term, but borrowers who refinanced through the Home Affordable Refinance Program ( HARP ) were actually less likely to shorten their loan term than other borrowers. Despite incentives to do so, only 25 percent of HARP borrowers chose to reduce the length of their mortgage compared...

Nov 12, 2012 6:47PM

To be Frank: Cowards Do That, And That Ain't You

"Now, if you know what you're worth, then go out and get what you're worth. But you gotta be willing to take the hits, and not pointing fingers saying you ain't where you wanna be because of him, or her, or anybody. Cowards do that and that ain't you. You're better than that!" That quote never had an impact on me the first time I saw the last installment of the Rocky sequels. I came across it on a day I was searching the internet for something inspirational. Something to lift my spirits above the...


Micro News

4:08 PM:

Further Deterioration In Late Day, Light Liquidity

2:24 PM:

Budget Deficit Rises To $120 Billion In October

11:27 AM:

Negative Reprice Risk Increasing As MBS Hit Lows Of The Day

9:42 AM:

Bond Markets In Slightly Stronger Territory. MBS Drop Due To Roll

12:20 PM:

MBS Hit Lows Of The Day, Continuing Selling Trend Since The Open

10:26 AM:

ECON: Consumer Sentiment Highest in Five Years

10:09 AM:

ECON: Wholesale Inventories/Sales Both Stronger-Than-Expected

9:31 AM:

Bond Markets Stronger Overnight, Weaker Into Mid-Morning

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Today's Comments

Bryan/Mortgage Finance Group, Inc.

"The elephant in the room is that all these regulations were designed to drive the independent broker/banker out of business so only the big banks (the..."

Jana Holmstrup

"Yes, we veterans don't blame - we press on. We deal with what we are dealt, we provide the best of what is available. But we must also fight for what..."

Ray J

""Responsibility is the price of freedom". If your personal philosophy revolves around service as it's core than than it's easier to have..."

Today's Q&A

"Refinancing an investment property I am moving back into"

"Can I get a mortgage loan if I am only employed for 1 year."

"How can a credit score just disappear?!"


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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.10%
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  • 15 Yr FRM 3.26%
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  • Jumbo 30 Year Fixed 3.98%
MBS Prices:
  • 30YR FNMA 4.5 107-31 (0-01)
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  • 30YR FNMA 5.0 110-02 (-0-05)
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  • 30YR FNMA 5.5 111-06 (0-00)
Recent Housing Data:
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  • Refinance Index -3.98%
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  • FHFA Home Price Index 0.67%