Send Article via Email

Mortgage Rates End Week At Best Levels, But Risks Persist

Mortgage rates continued a moderate trend of improvement from mid-week, bringing rates to their best levels of the week on Friday. All of the recent day-over-day changes in rates have taken place on quite a small scale historically as broader markets stay exceptionally contained ahead of the Fiscal Cliff deadline. Conventional 30yr Fixed Best-Execution rates are still widely viable at 3.375%, but 3 days of minor improvements brings 3.25% increasingly back into view. ( Read More:What is A Best-Execution...

Consumer Loan Defaults Hit New Lows while Mortgage Defaults Rise

Default rates for first mortgage loans increased in both October and November according to the S&P Dow Jones Indices and Experian. The increases drove the national default rate up from a post recession low reached in September despite continued improvements in the performance of second mortgage, credit card, and auto loans. The national composite index increased from 1.46 percent in September to 1.55 percent in October and 1.64 percent in November. First mortgages had also hit a post-recession...

• MBA, Others Weigh in on LO Training and Licensing; In Conjunction with States, the CFPB Flexes its Muscles
• Pending Home Sales Highest Since 2010 Tax Credit Expiration
• Mortgage Forgiveness Act in Jeopardy? Hiring and Retaining Employees the CFPB Way
• New Home Sales Up 15.3% Over Last Year, Inventories Continue Decline
• Case-Shiller Shows Home Prices Up 4.3% From Year Earlier
• LO Education and Bank vs. Non-bank Requirements Under the SAFE Act; Are Foreclosure Prices Really Different?

Micro News

Around the Web

• Stocks Drop on Report That Obama Will Not Make a New Offer to Avert Cliff
• Citigroup, RBS Sued by DZ Bank Over $641 Million in Bonds
• Buffett on US Debt Problem: 'We'll Get It Solved'
• Presenting the second annual Wonky awards
• Ben Bernanke's Secret Message to Congress: More Stimulus, Please
• Countrywide Loan Probe Ended by House Panel With No Action Taken

Video News

	Throwing America Off the Cliff?
	Santelli Takes a Closer Look at Foreclosures
	Brown on Banking Industry, Bank of America Outlook

Today's Comments

	"Gosh, MIke, sorry you are so offended. Not sure why you would think there's a limited pool of folks eligible to refi with HARP, FHA and VA streams..."
	"From what I've seen, pricing on loans I looked at improved today. Not taking that for granted as any perceived progress on fiscal cliff has the ability..."
	"Hi Ted I am also a senior mortgage banker and your comments about principle reduction is completely baseless and idiotic. The only reason that you and..."

Today's Q&A