November 2007 - MBS Commentary

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Do you expect the home buyer tax credit extension to contribute to a noticeable pick up in loan production?

Created By: Adam Quinones

Yes, I anticipate an increase in activity (26.6%)
Only a modest upturn in production (44.5%)
Nope. 2009 demand stole from 2010 demand (28.9%)

Total Votes: 128
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See the News we're Reading: AROUND THE WEB

11/30/07 - HOLDING STEADY

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by Matthew Graham on November 30 2007, 4:57 PM

The 30 year fixed PAR rate is unchanged from yesterday. Stocks and bond yeilds are both up on Bernanke's comments regarding the Fed's awareness and intention to combat an impending recession. Economic data releases continue to show a weakening economy, with the Personal Income and Outlays down more than expected as well construction spending. Hank Paulson has suggested a plan to freeze adjustable rate mortgages at their introductory rates. Whether today's news is good for the mortgage market depends

Filed under: 30 year fixed, APR, daily mortgage rates, daily rates, housing starts, interest rates, lock, market commentary, mortgage rates, rates, reprice, stock market

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11/29/07 - Slight Improvement

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by Matthew Graham on November 29 2007, 5:34 PM

Best 30 Year Fixed PAR Rate: 5.625% Lock Recommendation: Cautious Float A lot of economic released today, but none of it earth-shattering. Mortgages rates are finding slight support from what is generally perceived to be a weakening market. The DOW is currently struggling to hold it's gains from yesterday. Unemployment report was up slightly, and new home sales are down. On a positive note, the GDP came in as expected and Home prices came in slightly higher than expected. That home price information

Filed under: 30 year fixed, APR, daily mortgage rates, daily rates, housing starts, interest rates, lock, market commentary, mortgage rates, rates, reprice, stock market

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11/28/07 - Big Gains in dow, little movement in mortgage rates

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by Matthew Graham on November 28 2007, 5:36 PM

The Dow has continued upward today led by Financials, Google, Amazon, and Ebay, currently up over 250 points. Most are attributing this to several factors: 1. Fed Vice Chairman Donald Kohn suggested the possibility of future rate cuts in a Speech to the Council on Foreign Relations. 2. Oil is lower 3. The market had sold off to such an extent that many saw the dip under 13k as a buying signal, hence the back to back up days What's interesting is that the power of the above 3 factors is overwhelming

Filed under: 30 year fixed, APR, daily mortgage rates, daily rates, housing starts, interest rates, lock, market commentary, mortgage rates, rates, reprice, stock market

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11/27/07 - 2 STEPS FORWARD, 2 STEPS BACK

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by Matthew Graham on November 27 2007, 4:50 PM

30 YEAR FIXED NOTE RATE = 5.75%Daily quoted rate is always the closest to the PAR rate from our best lenders. It can include fees depending on how you structure you loan. It also depends on qualifications.

Filed under: 30 year fixed, APR, daily mortgage rates, daily rates, housing starts, interest rates, lock, market commentary, mortgage rates, rates, reprice, stock market

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MID-DAY IMPROVEMENT

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by Matthew Graham on November 26 2007, 2:07 PM

IMPROVEMENT : APPROXIMATELY .125% DISCOUNT POINT COMMENT: More concerns on wall street about "credit crunch" are having effects on the markets. The Dow is currently only down about 50 points, but the FED's announcement to pump capital into the ailing credit market in conjunction with more announcements about subprime write-downs have led traders to shift even more money into bonds, which is good for rates. On top of that, there is concern mounting about retail sales as retailers have reported that

Filed under: 30 year fixed, APR, daily mortgage rates, daily rates, housing starts, interest rates, lock, market commentary, mortgage rates, rates, reprice, stock market

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11/26/07 Slight Improvement

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by Matthew Graham on November 26 2007, 11:53 AM

30 YEAR FIXED = 5.75% NOTE RATE. 5.87% Annual Percentage Rate takes loan fees into account. There are lower and higher rates available depending on how you structure your loan. Not everyone would qualify for today's best 30 year rate.

Filed under: daily mortgage rates, interest rates, market commentary, mortgage rates, rates

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11/23/07 - Black Friday, Boring Market Day

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by Matthew Graham on November 23 2007, 4:25 PM

BEST RATE OF THE DAY: 5.75% with a 5.99 APR LOCK RECOMMENDATION: Rates are well below their 50, 100, and 200 day moving averages. So although rates may continue to get lower, our lock recommendation is strong: "Lock em if you got em!" Don't expect a lot to happen today. The last five times that the Dow was down the Wednesday before Thanksgiving, it was up again the Friday after. So the current 100+ point gain is to be expected and trading is light. There is not a significant impact to bonds despite

Filed under: 30 year fixed, APR, daily rates, lock, mortgage rates

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11/21/07 - Morning Update

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by Matthew Graham on November 21 2007, 4:07 PM

As I am getting rates emailed in from lenders, I am seeing the .125-.375% improvement in cost as predicted. One of our best lenders is actually 0.5% better day over day. This is huge and is the reason for the following rate quote today: 30 year fixed is available today 5.75% with APR under 6.0%* *Not everyone will qualify with certain lenders. This is a representation of "best-case" scenario. Make sure you are getting the straight talk from your lender.

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11/21/2007 - Good Morning. Good Rates.

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by Matthew Graham on November 21 2007, 3:33 PM

In a recent poll, 40% of Americans think we are headed toward a recession. Whether we are or we aren't, the economic news today is negative. The very important Consumer Sentiment metric fell to its lowest point in two years which is not good news for stocks especially since it coincides with the impending post-thanksgiving shopping season. But there's more. Oil prices continue to flirt with 100 dollars per barrel. Average home prices continue to fall. Hank Paulson, the OECD (Organization for Economic

Filed under: daily mortgage rates, interest rates, market commentary, mortgage rates, rates

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11/20/07 Mid Day Update

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by Matthew Graham on November 21 2007, 12:25 AM

As a result of an ambiguous reading of the FOMC's meeting minutes and a confused response by the markets, many lenders have repriced this afternoon slightly for the worse. The reprice averages 12.5 basis points or rather, the same loan now costs 0.125% more to obtain the same interest rate.

Filed under: reprice

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Another Good Day for Mortgage Rates!

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by Matthew Graham on November 20 2007, 8:38 PM

We had a great yesterday sparked by the huge sell of in the Dow. As investors move money out of stocks, they put them in bonds which raises the price of bonds and lowers the yield. The yield moves with interest rates. Today started off with a small rally, but as of 1pm EST, the volatility is having us hover around unchanged. This has been good news for bonds which are nearing all time lows. The 10 year note is currently at 4.08%. Other than traders following the stock market and corporate announcements

Filed under: housing starts, mortgage rates, stock market

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