Mar 8, 2013 2:59PM

Mortgage Rates Highest In Nearly 10 Months After Employment Data

Mortgage rates vaulted higher today at their fastest pace since late January, after the Employment Situation showed an unexpectedly high number of jobs created in February. The Employment Situation is the most important piece of domestic economic data each month and always has the potential to greatly impact markets. This was indeed the case today, and it brings 30yr Fixed Best-Execution up to 3.75% for the first time since May 2012. Lenders are still offering lower rates, but at greatly increased...

Mar 8, 2013 11:08AM

Senator Requests DOJ Investigation of LPS Related to Fees, Double-Billing

According to the Wall Street Journal , Senator Ron Wyden (D-OR) has sent a letter to the Department of Justice requesting an investigation of Lender Processing Services (LPS) . The letter, sent yesterday to Attorney General Eric Holder, alleges that LPS may have used an improper fee structure for legal services related to the processing of foreclosures and bankruptcies. This structure, Wyden says, resulted in double-billing homeowners and mortgage investors. The Democratic Senator also said that...

Micro News

11:52 AM:

Negative Reprice Risk Already Increasing, Depending On Lender

9:36 AM:

Fighting To Establish A Defensive Range Post-NFP Sell-Off

8:44 AM:

ECON: Nonfarm Payrolls Much Higher Than Expected

3:34 PM:

Several Negative Reprices Reported. Still holding Support

10:31 AM:

MBS Hit New Lows. Reprice Risk Already?

9:23 AM:

Bond Markets Significantly Weaker Following Claims/Draghi

8:45 AM:

ECON: Productivity Slightly Lower, Labor Costs Slightly Higher Than Expected

8:40 AM:

ECON: Trade Deficit Slightly Wider Than Expected

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Today's Comments


"I see $8,000+ seller credit if using the builders lender - that's not built into the price? You're a fool if you think for a second that it isn't..."

Jason Harris

"In our current regulatory environment, I am surprised the affiliate model has lasted this long. I don't see a long shelf life for practices as they..."

craig simons

"I certainly respect the risk and investment a builder makes - with very little certainty and assurance a transaction will close - but coercing buyers ..."

Today's Q&A

"Starting A mortgage office?"

"reinstatement of title deed to my name"

"can more than one offer raise the price of a sale"