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  • Borrowing Costs Increase Slightly

    by Victor Burek on April 17 2009, 5:29 PM
    Well, we had our 2nd day in a row of downward pressure on mortgage backed securities. As MBS move lower in price, it causes mortgage rates to move higher increasing borrowing cost. A few lenders did reprice for the worse but most lenders left rates unchanged...
  • Borrowing Costs Increasing, Typical Friday

    by Victor Burek on April 17 2009, 9:48 AM
    Yesterday, mortgage backed securities (MBS) remained relatively stable until mid afternoon when they started to sell off which increased consumer borrowing costs by .25 in discount. Most lenders did reprice for the worse. So far this morning, the downward...
  • Your Mortgage Rate and the Closing Costs Associated with It

    by Victor Burek on April 16 2009, 11:21 AM
    Yesterday, mortgage backed securities (MBS) traded in a tight range and closed near the previous day's closing price levels. This stability will allow lenders to offer par 30 year conventional mortgages ranging from 4.625% to 4.875% depending on individual...
  • Mortgage Rates Inch Lower

    by Victor Burek on April 15 2009, 10:35 AM
    Yesterday, mortgage backed securities (MBS) continued their recent upward trend. As MBS moved steadily higher throughout the day consumer borrowing costs inched lower by about .125 in points. So far this morning, MBS are holding steady near yesterday's...
  • Mortgage Rates Decline After Holiday Weekend

    by Victor Burek on April 14 2009, 10:53 AM
    Yesterday, mortgage backed securities (MBS) had a stable day which allowed a few lenders to reprice for the better. Overall mortgage rates moved slightly lower after the long holiday weekend. What's Moving Money Today.... So far this morning, despite...
  • Rates Stable and the Week Ahead

    by Victor Burek on April 13 2009, 10:56 AM
    First of all, I hope everyone had a wonderful Easter weekend with friends and family. My wife and I enjoyed ours, but now back to work. So far this morning, mortgage backed securities (MBS) are holding at unchanged levels. This should allow lenders to...
  • Happy Good Friday

    by Victor Burek on April 10 2009, 8:39 AM
    Yesterday mortgage backed securities (MBS) dropped in price increasing consumer costs by .25 in discount. Lenders where quite conservative yesterday with the rates they offered to hedge against any unexpected events over the 3 day weekend. All markets...
  • Better than Expected Earnings Raising Mortgage Rates

    by Victor Burek on April 09 2009, 10:04 AM
    Yesterday mortgage backed securities (MBS) had a strong rally leading to many lenders repricing for the better early in the afternoon, however a late day sell off forced lenders to reconsider their decision to pass along lower borrowing costs. After the...
  • Mortgage Rates Lower After Solid Session

    by Victor Burek on April 08 2009, 11:04 AM
    Yesterday, mortgage backed securities , the investment vehicle that determines mortgage rates, had a very strong day . MBS moved steadily higher throughout the day and made higher highs and higher lows. As MBS improve d in price, consumer borrowing costs...
  • Rates Stabilizing

    by Victor Burek on April 07 2009, 9:39 AM
    Yesterday loan officers got an early afternoon reprice scare following a sell off in the thinly traded MBS market. Overall, besides the reprice alert, it was a sleeper of a day. Mortgage backed securities traded, again, in a very tight range closing at...
  • Rates Higher Last Week, Economic Calendar For the Week Ahead...

    by Victor Burek on April 06 2009, 9:59 AM
    The lowest rates of the week were seen ahead of the announcement that FASB would relax "mark to market" accounting policies. As the week progressed and positives poured from the G20 summit, stocks began to show a great deal of optimism that...
  • Mortgage Rates Continue to Worsen

    by Victor Burek on April 03 2009, 3:45 PM
    Mortgage backed securities took it on the chin today falling about .375 in discount increasing consumer costs. It was reported that the majority of lenders did reprice to the worse today. It appears that a sell off in treasuries pressured MBS to move...
  • Rates Inching Higher

    by Victor Burek on April 03 2009, 10:19 AM
    Yesterday, mortgage backed securities had another negative day increasing consumer borrowing costs. So far this morning that trend is continuing after the release of Non Farm Payrolls. In total, consumer borrowing costs have increased by about .25 to...
  • Rates Being Pressured Higher

    by Victor Burek on April 02 2009, 10:08 AM
    Yesterday mortgage backed securities again traded in a very tight range and ended up losing some ground by 5pm. Selling pressure has carried over into today and MBS prices are moving lower in price(as price moves lower, rates move higher) which will force...
  • Mortgage Rates Mostly Unchanged

    by Victor Burek on April 01 2009, 11:59 AM
    Yesterday, mortgage backed securities had a n uneventful day. Consumer mortgage borrowing costs should be more or less unchanged from yesterday. This will keep par 30 year conventional mortgages in the range of 4.5% to 4.75% for the most qualified borrowers...
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More From MND

Mortgage Rates:
  • 30 Yr FRM 4.16%
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  • 15 Yr FRM 3.91%
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  • Jumbo 30 Year Fixed 4.08%
MBS Prices:
  • 30YR FNMA 4.5 104-05 (-0-00)
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  • 30YR FNMA 5.0 105-14 (-0-02)
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  • 30YR FNMA 5.5 106-26 (0-06)
Recent Housing Data:
  • New Home Sales -100.00%
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  • Building Permits 0.30%
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  • Housing Starts -11.20%