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Mortgage News Daily

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Possible FHA Changes in 2013; Mortgage Debt Lowest Since 2006
Posted to: Daily Newsletter
Wednesday, November 28, 2012 4:37 PM

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Nov 28, 2012 10:19AM

A Primer on Possible FHA Changes in 2013 Given its Red Ink; Mortgage Jobs Across the Nation

In ancient days, when mortgage rates were different for various areas around the country and people relied on carbon paper and Fannie gold book amortization tables, mortgage volumes were cyclical. Lenders could count on a lull in the winter months, especially here in Colorado, since there were fewer home shoppers. But refi's don't have to wait until the summer - they're year 'round although no one expects mortgage rates to go anywhere for the next year or two so there's no hurry. I mention this because...

Nov 28, 2012 10:35AM

Mortgage Debt at Lowest Level Since 2006, Despite Increase in Originations

Despite a sizeable increase in consumer debt overall household debt fell by $74 billion in the third quarter of 2012, driven largely by a decrease in mortgage and home equity loan balances . The Federal Reserve Bank of New York's Quarterly Report on Household Debt and Credit reported that a drop of $120 billion in mortgage debt and $16 billion in home equity lines of credit were partially offset by a 2.3 percent increase in non-real estate obligations. The drop in aggregate consumer debt continued...


Micro News

3:11 PM:

Ongoing Negative Reprice Risk As MBS Push To New Lows

2:34 PM:

ECON: Beige Book Shows Fiscal Cliff On The Radar

1:56 PM:

Housing Regulator Sees Recovery Taking Root

1:21 PM:

Auction Provides Small Boost For MBS. Too Little Too Late?

12:43 PM:

Obama: Let's Get Fiscal Cliff Deal Before Christmas - CNBC

12:34 PM:

Reprice Risk As MBS Hit New Lows Following Obama Speech

10:53 AM:

MBS Briefly Dip To Session Lows As Stocks Bounce Back

10:09 AM:

ECON: New Home Sales Weaker Than Expected, Lower Revisions

Around the Web

Video News

Santelli's Midday Bond Report

Blankfein on the Looming Fiscal Cliff

Shiller: Why I'm Doubting the Housing Recovery


Today's Comments

Peter J. Pike

"The real problem (which the CFPB does not get) is that the average American consumer cannot understand the variances in mortgage products. Instead of trying..."

mrmillersr

"The real problem is your typical consumer has no idea on how to compare loan quotes correctly so it really doesn't make any difference on how many..."

Chris Kopec

"I see this as another unintended negative consequence of regulation. The government removed incentives for loan officers to "steer" consumers..."

Today's Q&A

"Mislead by company representative?"

"Our buyer backed out of our contract"

"Paying off Son's Mortgage"


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More From MND

Mortgage Rates:
  • 30 Yr FRM 3.99%
  • |
  • 15 Yr FRM 3.16%
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  • Jumbo 30 Year Fixed 3.91%
MBS Prices:
  • 30YR FNMA 4.5 108-11 (0-04)
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  • 30YR FNMA 5.0 110-22 (0-03)
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  • 30YR FNMA 5.5 111-22 (0-02)
Recent Housing Data:
  • Mortgage Apps 11.56%
  • |
  • Refinance Index 23.29%
  • |
  • FHFA Home Price Index 0.67%