| Real Estate News |
The Week Ahead: FOMC Meeting, Housing Data, Inflation, Industrial Production
Mon, 15 Mar 2010 12:01:08 GMT
Posted To: MND NewsWireEquity markets are mostly lower across the globe Monday, leading US stocks to open sharply lower ahead of a moderately busy schedule. Two hours before the bell sounds, Dow futures are off 30 points to 10,543 and S&P 500 fut..[read more]
|
Harmony Of The Trends And The Whole Day Explained In One Chart
Fri, 12 Mar 2010 23:47:00 GMT
Posted To: MBS Commentary(A bit long, but another worthwhile closing post to read... with some not-often-phrased-in-such-a-way explanations. I enjoyed writing it at least. Let me know what you think.) You know the "stock lever?" If not, tha..[read more]
|
Mortgage Rates Higher After Retail Sales Data. Floating into Monday
Fri, 12 Mar 2010 21:20:57 GMT
Posted To: Mortgage Rate WatchWhile benchmark Treasury yields moved slowly higher throughout the course of the week as our government auctioned debt to raise spending money, mortgage-backed securities managed to maintain a pretty consistent price ran..[read more]
|
What Did Top Performing Mortgage Bankers Earn in 2009?
Fri, 12 Mar 2010 20:51:21 GMT
Posted To: The Garrett Watts ReportAudited financials are starting to come in, and they’re confirming what we saw all year. Top performing mortgage bankers made 90-100 bps per loan. That means, for every $100 million you closed, you should have..[read more]
|
MBS LUNCH: Mortgages Left Behind as Benchmarks Rally
Fri, 12 Mar 2010 19:50:00 GMT
Posted To: MBS CommentaryIt was an interesting morning in the rates world. Let's start with our fearless leader, the benchmark 10 year note. In below average trading volume, yields rose marginally (at most) in the overnight session before popping..[read more]
|
Fitch Ratings: Expiring Housing Incentives Likely to Increase Loan Losses this Year
Fri, 12 Mar 2010 17:51:11 GMT
Posted To: MND NewsWireFitch Ratings is warning that the expiring homebuyer tax credits, the end of the Fed's MBS Purchase Program , and the growing maturity of various government loan modifications programs are likely to increase loss severities..[read more]
|
USDA Rural Housing Funds to Run Dry by April. Lenders Already Dropping the Program
Fri, 12 Mar 2010 17:04:00 GMT
Posted To: MND NewsWireUSDA Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including ..[read more]
|
Freddie Mac Announces Cut Off Date for Interest Only Loan Apps
Fri, 12 Mar 2010 15:43:00 GMT
Posted To: MND NewsWireAs reported on February 26 , Freddie Mac has decided to stop purchasing and securitizating loans utilizing the interest only payment option. Freddie's deadline for PURCHASING these loans was set as September 2010, however n..[read more]
|
Fed MBS Program Update: 98.1% of Funding Used. Looming Exit Yet to Hurt Rates
Fri, 12 Mar 2010 14:46:00 GMT
Posted To: MND NewsWireThe Federal Reserve reported on their weekly purchases of agency mortgage-backed securities (MBS). In the week ending March 10, 2010, the Federal Reserve purchased a gross total of $29.4 billion agency MBS. In that week the Fed..[read more]
|
Loan Officers Who Sell Real Estate; Wells Expands Market Making in Mortgage-Backeds; FDIC Acts on a Thursday; Freddie Mac Bulletin
Fri, 12 Mar 2010 14:42:42 GMT
Posted To: Pipeline PressDon't forget to "Spring Ahead" this Sunday morning. We lose an hour of sleep. The FDIC made a rare Thursday move and shut down LibertyPointe Bank This bank catered to the Orthodox Jewish community in Manhattan a..[read more]
|
Retail Sales Improve Across the Board. Rates Move Higher
Fri, 12 Mar 2010 14:20:00 GMT
Posted To: MBS CommentaryRetail Sales data has hit screens. It was much better than expected. Rates no likely. February, Retail Sales rose 0.3% vs. an expected decline of 0.2%vs. a revised for the worse +0.1% print in January (from +0.5%) . Excluding..[read more]
|
The Day Ahead: Euro Data Pushes Stocks up Ahead of Retail Sales
Fri, 12 Mar 2010 13:06:54 GMT
Posted To: MND NewsWireEquities are higher and the dollar is weaker following positive data from Europe and ahead of key retail sales numbers at home. More than two hours before the opening bell, markets edging higher with Dow futures are up 21 point..[read more]
|
MBS OPEN: Rates at Crossroads. What Range Will Prevail?
Fri, 12 Mar 2010 12:40:00 GMT
Posted To: MBS CommentaryGood Morning. Once again, rate futures prices moved modestly lower in the overnight session...albeit in below average volume (again). What is obvious to me is the 10 yr contract's failiure to break through what I have bee..[read more]
|
Mortgage Rates Escape Three Treasury Auctions Unharmed
Thu, 11 Mar 2010 23:05:13 GMT
Posted To: Mortgage Rate WatchAfter two dataless days and no movement in mortgage rates, action picked up yesterday. Mortgage rates opened the day lower, however, thanks to big turnout at the 10 year Treasury note auction, enchmark yields rallied and..[read more]
|
Foreclosure Filings Drop. Prevention Policies Distorting Supply and Demand
Thu, 11 Mar 2010 22:25:00 GMT
Posted To: MND NewsWireToday RealtyTrac® released its February U.S. Foreclosure Market Report. The RealtyTrac report shows that foreclosure filings, which include default notices, scheduled auctions, and bank repossessions declined 2 percent from..[read more]
|
MBS CLOSE: On The Brink Of Something Epic?
Thu, 11 Mar 2010 22:24:00 GMT
Posted To: MBS CommentaryMBS end 1 tick down at 100-29 10yr Note Yield at 3.725 S&P up 5 points, all gains late in the day 30yr Auction pressures rates early and helps out late This one's a good read, and a tangible concept to share with clie..[read more]
|
MBS AFTERNOON: Volatility Fades As Bonds Cling To The Edge
Thu, 11 Mar 2010 20:37:00 GMT
Posted To: MBS CommentaryThe Edge: Both MBS 4.5's and 10yr notes are UNCHANGED at the moment For MBS, that's 100-30 and for the 10yr, that's just under 3.73 Verdict on this auction cycle: undecided... waiting for retail sales tomorrow and..[read more]
|
FHA Commissioner: Raising the Down Payment Requirement Would Hurt Housing Recovery
Thu, 11 Mar 2010 19:40:00 GMT
Posted To: MND NewsWireIncreasing the minimum down payment required for a Federal Housing Administration (FHA) loan from 3.5 percent to 5 percent could be a double whammy, affecting both potential homebuyers and the economy as a whole according to Da..[read more]
|
MBS LUNCH: 30 Year Bond Auction Results and Reactions
Thu, 11 Mar 2010 18:09:00 GMT
Posted To: MBS CommentaryThe previously discussed auction concession must have been sufficient because the long bond auction went very well. Overall, auction demand was well above average---2.89 bids were submitted for every one accepted by the Treas..[read more]
|
Mortgage Portmanteaus -- Brankers and Broanchers vs. Net Branches
Thu, 11 Mar 2010 17:48:43 GMT
Posted To: The Garrett Watts ReportA portmanteau means a blend of two or more words and their meanings into one new word. An example is the word brunch meaning breakfast +lunch. Another is smog meaning a combination of smoke and fog. Some would consi..[read more]
|
MBS MORNING: Supply Concessions Set Up. Targets Outlined
Thu, 11 Mar 2010 16:37:00 GMT
Posted To: MBS CommentaryThe main theme in the rates market this morning has been a set up for the last Treasury auction of the week :$13 billion 30s. Results to be released at 1pm. The auction supply concession is obvious when looking at both price ..[read more]
|
Lenders Relaxing Non-Agency ARM Regs; High Cost Loan Reporting Guidance; Negative Convexity Defined; New Mortgagee Letter
Thu, 11 Mar 2010 15:56:45 GMT
Posted To: Pipeline PressWho says numbers aren't fun? A top muni bond analyst at Wells Fargo sent THIS to me. Numbers are fun! Sometimes time drags, and sometimes it flies. I came to this brilliant observation yesterday while waiting in the Calif..[read more]
|
MBS OPEN: Speculative Signs of Reversal in Benchmarks
Thu, 11 Mar 2010 13:52:00 GMT
Posted To: MBS CommentaryGood Morning. A nationwide strike has essentially shut down Greece. From the AP : "Thursday's strike — the second in a week — brought the country to a virtual standstill, grounding all flights and bringin..[read more]
|
The Day Ahead: Chinese Inflation Drives Domestic Stocks Lower
Thu, 11 Mar 2010 13:21:00 GMT
Posted To: MND NewsWireSpeculation that China may have to tighten its economic policy is pulling investor sentiment lower this morning. Amid positive data on industrial production and retail sales, Chinese CPI climbed 2.7% in February, indicating tha..[read more]
|
MBS CLOSE: What Can Today Tell Us About Tomorrow?
Wed, 10 Mar 2010 22:13:00 GMT
Posted To: MBS CommentaryThis is always the question right? I mean, after all, we already know what is available on our rate sheets at the moment, but the most valuable question always asks for tomorrow's MBS prices today. Forgetting for a moment..[read more]
|
