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After hitting record lows of 3.94% with 0.8 points the week of October 3, rates rose and have been hovering .25% to .375% higher than that. A primary reason rates rose is market optimism about Eurozone leaders acting more forcefully to contain problems with insolvent member nations like Greece. Eurozone...
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Bond prices have backed up sharply over the last week. The price of the 10-year Treasury note has lost almost 3 points since last Monday (10/3), pushing its yield from a low of 1.76% to around 2.17% on Tuesday (10/11) morning. The driving factors are a modest recovery in stock prices (the DJIA has risen...
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Lower interest rates following the Federal Reserve's announcement fueled a surge in mortgage applications late last week. According to the Mortgage Bankers Association (MBA), its Market Composite Index which measures the volume of those applications increased 9.3 percent on a seasonally adjusted basis...
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Follow up: Refinance America: A New and Improved Plan In a recently published study by the Federal Reserve they confirm what millions of American homeowners know first hand and what most professionals in the housing finance industry have known for over a year: namely, that millions of American homes...
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Rates are bouncing around near record lows set last October and consumers are looking to seize the opportunity. There's always a rush by consumers and loan agents to lock rates on dips, and that practice is all the more prevalent when extreme daily rate swings raise the sense of urgency. But before you...
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MBSonMND : MBS MID-DAY : More Record Highs! Open MBSonMND Dashboard FNMA 3.5 101-23 : +0-25 FNMA 4.0 104-15 : +0-25 FNMA 4.5 106-09 : +0-31 FNMA 5.0 108-03 : +0-20 GNMA 3.5 103-00 : +0-16 GNMA 4.0 106-03 : +0-26 GNMA 4.5 108-10 : +0-13 GNMA 5.0 110-04 : +0-08 FHLMC 3.5 101-19 : +0-16 FHLMC 4.0 104-14...
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Last week the intense rally in bond markets helped mortgage rates reach their best levels of the year, but the rally came to an end on Friday. Then on Friday evening, news the S&P downgraded the US Sovereign Debt Rating set a chain of events in motion that completely rocked the markets. Despite steep...
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RMIC threw in the proverbial towel Wednesday afternoon. "We wish to inform you that Republic Mortgage Insurance Company (" RMIC ") will discontinue writing new commitments for insurance effective August 31, 2011. RMIC has been operating pursuant to a waiver of minimum state risk to capital ratio requirements...
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There is always someone who wants your money - hopefully not more than you do. Here's a quick little FDIC quiz on scams : QUIZ The FDIC, which doesn't just close banks, also provides tips to borrowers on making their mortgage payments: CHECK IT OUT Palm Harbor Homes, owner of CountryPlace Mortgage, filed...
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My clock radio went dead, so I was faced with the usual question, "Do I pay to have it repaired, or do I buy a new one?" I went to a local repair shop, and on the door was a sign that said, "WE CAN REPAIR ANYTHING. (PLEASE KNOCK - THE BELL DOESN'T WORK!)" Needless to say, I have...
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Yesterday I mentioned the question about whether or not modified loans could still be forced back to the seller for buybacks . Freddie Mac does indeed say that the seller would still need to buy it back after a modification. At the current time, however, there is the belief that sellers continue to be...
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I couldn't make this stuff up. "Octomom" is facing foreclosure, and a leading adult entertainment kingpin is offering to pay her mortgage. Only in America! Dear Abbey, "If a mid-sized lender that is not doing any FHA loans (or is about to go through their test cases) and absorbs or...
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Sorry the commentary is a little late today. I was trying to track my Chia Pet order . Who could resist? Don't be the last one on your block to own one! (These may have contributed to the strong Retail Sales number this morning.) In my spare time I write an advice column. The other day I received...
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I never did well in the corporate world. Any employee knows, when you "take a long time", you're "slow". When your boss takes a long time, he's "thorough". When you "don't do it", you're "lazy". When your boss doesn't do it, he's...
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Although the give and take wasn't quite as drastic as yesterday's, once again we saw prices travel in a confined range with an almost symmetrical pattern. Once again we had economic data that could be interpreted either way and a stock market that did not make a decided move in one direction...
Posted to
MBS Commentary
by
Matthew Graham
on
Thu, Aug 6 2009
Filed under:
Filed under: daily rates, interest rates, lock, market commentary, mbs, Stock Lever, Waiting for Guidance, wait and see, MBS Status Quo, NFP, Exhaustion