Nov 7, 2012 4:30PM

Average Refinance Dropped Rates by 1.7% in Q3, Highest in Survey History

Americans continue to refinance with new loans the same size or smaller than the loans they are replacing. Freddie Mac's third quarter refinance analysis shows that 54 percent of homeowners who refinanced during the third quarter of 2012 took new loans of approximately the same size as the old and 29 percent brought funds to the table to reduce their mortgage balance. The aggregate 83 percent is only slightly below the record 85 percent of non-cash out borrowers in the fourth quarter of 2011. The...

Nov 7, 2012 2:30PM

Mortgage Rates Snap Back To Recent Lows Following Election

Although this can't be said for every lender, mortgage rates snapped immediately back to recent lows following the election results . The election's effect on rates was in the spotlight over the past 3 days with yesterday's rates rising severely as markets accounted for the possibility that current "interest-rate-friendly"administration could be unseated. As the election results gained clarity overnight, interest rates in broader bond markets were already declining . By the time the Secondary Mortgage...


Micro News

3:32 PM:

MBS Back In Line With Lows In Late Day Illiquidity

2:02 PM:

Auction-Related Volatility Fades, Leaving MBS, TSY's Largely Unchanged

1:00 PM:

10yr Auction Preview

9:39 AM:

Bond Markets Significantly Stronger Following Election

2:11 PM:

Negative Reprice Risk Ratchets Higher Still As MBS Hit New Lows

11:48 AM:

Stock Surge Keeps Pressure On Bonds. Reprice Risk Increasing

11:23 AM:

MBS Trying To Hold Ground At Morning's Lows, Succeeding For Now

10:21 AM:

ECON: Job Openings, Hiring, And Firing Relatively Unchanged From 2011

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Today's Comments

Pete Moraga

"Rob, in California the standard homeowner insurance policy includes coverage for wildfires. The two perils not included in the standard policy are earthquake..."

Jason Harris

"People do actually lose their mind during these elections. We have two guys both father's...husband's....successful and intelligent people. Somehow..."

Frank Ceizyk

"Catherine...take a deep breath and read what I wrote. "I am concerned about media reports indicating your administration is targeting the MID for..."

Today's Q&A

"How/who should I ask for advice to improve my mortgage approval prospects?"

"Loan sold to other carrier who is now requesting H06 policy"

"VA IRRRL - should I do it?"