mortgage market

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New Observations Quarterly Forecast of Property Values Estimates a Loss This Year of 13 Percent

The New Observations quarterly forecast of property values estimates a loss in values this year of 13 percent – a slight uptick from the 12% loss forecast at the beginning of the year.

8Apr2010 | | 0 comments | Continued
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Here’s What the Housing Inventory Picture Really Looks Like

This gauge of residential property sales, inventory for sale, and delinquent mortgages is the central location of the financial crisis.

5Apr2010 | | 11 comments | Continued
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Mortgage Rates Rise an 1/8 Across the Board

Conventional 30-yr fixed mortgages are available at 4.875% today to well-qualified consumers paying a standard .07 to 1 point origination, up 1/8 from yesterday, says rate research website FreeRateUpdate.com.

25Mar2010 | | 2 comments | Continued
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States Cracking Down on Mortgage “Net Branches”

A director of compliance at a big time Dallas, TX mortgage bank told me recently a trend is developing that signals the end of the term “net branch” is near. States don’t want anything resembling a net branch or associated with “net branching” operating within their borders. Branch applications in many states, coming from HUD compliant mortgage bankers, that were previously approved 99.9% of the time, are being denied because the mortgage bank itself is associated slightly with term “net branching”.

22Mar2010 | | 2 comments | Continued
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30 Year Fixed Mortgage Rates Flat Since Improving Late Last Week

Mortgage-backed securities prices, which drive mortgage rates in the opposite direction, haven’t moved much at all this week. Late last week MBS prices rose leading to a slight improvement (-0.125) in 30 year fixed mortgage rates across the board. Since the improvement late last week, conforming  30 year fixed mortgage rates have been steady at 4.75, down […]

4Mar2010 | | 0 comments | Continued
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Effect of Fed’s MBS Exit On Mortgage Rates Unknown

In a doomsday scenario, and it is possible, demand for MBS will be so low and prices will plummet so far, 30 year fixed mortgage rates will be driven up into the mid 6’s in a matter of days. If that happens, the Fed will likely begin buying mortgage-backed securities again and over a period of time drive rates back down.

25Feb2010 | | 1 comment | Continued
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Today’s Mortgage Rates Steady Below 5 Following Fed “Text”

Prices of mortgage-backed securities declined for the second day in a row today. Mortgage rates, which move opposite mortgage-backed securities prices, were unchanged. Pricing though, which effects closing costs, worsened this afternoon. In other words whatever it may have cost you to secure a 4.75% 30 year fixed mortgage yesterday, it’ll cost just a little more to get that same rate today.

10Feb2010 | | 0 comments | Continued
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