February 2007 - MND NewsWire

Concern over the slowing housing market may be impacting mortgage rates according to Frank Nothaft, Freddie Mac vice president and chief economist, referring to the results of the corporation's Primary Mortgage Market Survey for last week. That survey indicated a general downward drift in rates.

"Mortgage rates eased a little more this week," Nothaft said, "as market participants were concerned over..."

Two bits of news reported last week are worth a mention.

Fannie Mae announced on Tuesday that it would not be paying over $44.4 million in bonuses to its former and current executives. The bonuses were part of an incentive program that was based on performance targets such as earnings growth...

In other news there is new fall-out from a gloomy announcement the world's third largest bank made earlier this month...

After a single week of declining rates, mortgage interest rates returned to the pattern of small incremental increases that has prevailed since mid-December.

The Freddie Mac Primary Mortgage Market Survey for last week showed the 30-year fixed-rate mortgage (FRM) had...

Existing-home sales had a rough 2006 fourth quarter according to figures released Thursday by the National Association of Realtors.

David Lereah, NAR's chief economist stated that the fourth quarter would be the bottom for the current housing cycle. "This information confirms 2006 was the year of contraction, and hopefully the fourth quarter was the bottom of this current business cycle...

Mortgage rates ratcheted down last week according to the results of Freddie Mac's Primary Mortgage Market Survey. Rates have generally been on an upward trajectory since the mid December.

Frank Nothaft, Freddie Mac vice president and chief economists said, "News of moderate employment gains in January led to..."

There were lots of little nuggets of information in the February Economic Outlook issued by Freddie Mac on February 8.

It addition to the usual forecasts of future performance of both the economy in general and the housing segment in particular, this report recapped some of the more interesting facets of the 2006 market. For example:

Mortgage rates assumed a split personality again this past week with Freddie Mac showing moderate increases and the Mortgage Bankers Association reporting similar movement in the opposite direction.

Frank Nothaft, Freddie Mac vice president and chief economist commented that "Interest rates moved higher following the latest...

The Mortgage Bankers Association (MBA) recently made a preemptive strike against what it obviously perceives as the next threat against the mortgage industry - "suitability standards."