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Mortgage News Daily

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The Importance of IT; Fed Notices Lousy Rate Sheet Pricing; "High Cost" Clarification
Posted to: Daily Newsletter
Tuesday, December 4, 2012 4:23 PM

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Dec 4, 2012 4:23PM

MBS RECAP: Slow And Sideways At Recent Highs

While today continues to be plagued by the "little to report" phenomenon, we can't really complain about the price action. In a relative carbon copy of yesterday's pattern, we made gains in the morning and have been holding calmly sideways into the afternoon

Dec 4, 2012 11:38AM

The Importance of IT; Fed Notices Lousy Rate Sheet Pricing; "High Cost" Clarification

As many lenders think back on record-breaking Novembers, and I head to Pennsylvania for the rest of the week, here is a quick bit of trivia. James Pierpont was the author of "One Horse Open Sleigh" which was first published in 1857. In 1859, he reissued the song under a new name: "Jingle Bells." It was a "sleighing song" which was a popular topic of the time and had nothing to do with Christmas, or for that matter, Thanksgiving. Why do I mention this? Well, if you recognize the name "Pierpont" that...

Micro News

3:22 PM:

Another Day, Another Uneventful, Slightly Positive Afternoon

10:04 AM:

Bond Markets Looking For Guidance, Finding Some From Equities

3:44 PM:

Four Hours Later, Still Sideways At Best Levels Of The Day

10:48 AM:

MBS Near Highs Through Rate Sheet Time

10:16 AM:

ECON: Residential Construction Spending Highest Since 2008, Probably...

10:08 AM:

ECON: ISM Manufacturing Much Weaker Than Expected

9:40 AM:

Fighting To Hold Ground After Late Risk Rally Overnight

9:06 AM:

ECON: Markit PMI At Six Month High, Signalling Moderate Growth

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Today's Comments

Clay Brown

"The gap between primary and secondary pricing has widened due to Dodd Frank!! Thousands of MLO's individually pricing loans used to be able to keep..."

Rod Martino

"Having Wal-Mart provide mortgage financing sounds like a novel idea, however I would imagine that there would be only a certain amount of eligible borrower..."

Jason Harris

"The fact is that in nearly any sales role, the ability to earn based on production is usually a cornerstone. Few companies want to pay a substantial base..."

Today's Q&A

"Can I use a mixed use property (<25%) as collateral for a VA loan?"

"i had my loan modified in my name only. "

"Currently on deed and mortgage with my mother. How to remove her from both?"

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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%