Apr 1, 2013 3:29PM

Mortgage Rates Improve After Weak Manufacturing Data

Mortgage rates improved slightly today, helped along by a weak manufacturing data on an otherwise quiet day. Had it not been for that report at 10am, bond markets including MBS ('mortgage-backed-securities' that most directly influence mortgage rates) might have remained in the weaker territory that characterized the morning hours. Several lenders released positively revised rate sheets in the afternoon, bringing the average back down to something just slightly better than "unchanged" vs Thursday...

Apr 1, 2013 11:43AM

Thoughts on Keeping the 30-yr Mortgage; Tax Implications of Cancelled Mortgage Debt

There continues to be a debate about whether or not 30-yr mortgages/liens are a good idea or not . The MBA's president - Dave Stevens - weighed in on the argument last week. "On the one hand it could be argued that the fully pre payable 30 year fixed rate loan was not a necessity in looking back historically. There is some truth to that - to be clear - mortgage interest rates have been on a steady decline for over three decades since their peak in 1980. While clearly home-owner preference for the...


Micro News

3:14 PM:

Quiet Session Continues. Several Positive Reprices

10:23 AM:

Bond Markets Improve After ISM Data, But Hitting Resistance

10:11 AM:

ECON: Construction Spending Slightly Higher Than Expected

10:07 AM:

ECON: ISM Manufacturing Weaker Than Expected

9:07 AM:

ECON: Markit Manufacturing PMI Revised Slightly Lower

8:55 AM:

Quiet Overnight Session, Bond Markets Slightly Weaker

1:27 PM:

Big Buying At CME Close Keeps Range Contained

10:02 AM:

ECON: Chicago Business Barometer Weaker Than Expected

Around the Web

Video News

Santelli's Midday Bond Report

Construction Spending Up 1.2%; ISM 51.3

Santelli's Morning Bond Update


Today's Comments

Frank Ceizyk

"Information and delivery of info has been outstanding. Saw some chat about CPFB interviewing employees about knowledgebase--I wonder when MND will become..."

David Z.

"Rob, great article. But I was really hoping you would close the loop with answers to the question you pose in the 3rd paragraph regarding cutoff dates..."

Jana Holmstrup

"Wonder if these Senators and AGs would be as demanding if we asked THEIR states to pay for the principal reductions."

Today's Q&A

"80% LTV Refinance Cash Out Loans"

"delaying first payment buying a VA home "

"gelsying first payment buying a VA home "