The Regions the Housing Market Recovery Might Leave Behind - The Washington Independent
The Regions the Housing Market Recovery Might Leave BehindThe Washington IndependentBut The Associated Press story injects a note of caution: Still, some housing market experts predict the market will take a dramatic “double-dip” once the ... read more
The Real State of the Housing Market - CounterPunch
The Real State of the Housing MarketCounterPunchHousing has been going sideways for seven months now, mainly due to lax lending standards (at FHA), the Firsttime Homebuyers Credit, ...and more » read more
Can You Really Time the Housing Market? - TIME (blog)
Can You Really Time the Housing Market?TIME (blog)This is a market-timing mentality. And the possibility of it sticking around makes me nervous. Now, trying to time the housing market is not always a bad ...and more » read more
Mortgage Rates Hold Steady as Market Waits for Data and News
Posted To: Mortgage Rate WatchMortgage rates ended last week with a healthy "flight to safety" rally that pushed consumer borrowing costs closer to the lowest levels of 2010. This occurred after an unexpected news headline hit the market. Panicked investors were quick to sell their stocks and reallocate funds into risk averse assets like benchmark Treasuries. This allowed some lenders to reprice for the better, but not all. It isn’t uncommon for lenders to be reluctant to pass along price improvements on a Friday and also reminds us that lenders are quick to take away pricing but slow to pass along gains. The news that caught the market off-guard was an announcement that the SEC was filing fraud charges against Goldman Sachs for essentially selling a mortgage investment that was designed to fail. We only...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. read more
Rate Sheet Influential MBS at Highs of Day. Reprices Reported
Posted To: MBS CommentaryIf you've been holding out in hopes of a reprice for the better, the "rate sheet influential" FN 4.5 MBS coupon is just off its highest prices/lowest yields of the day and one major lender and a few mid-majors just repriced for the better. The secondary market current coupon, essentially the yield used to determine base mortgage pricing after g-fees and servicing, is 4.441%. This is about 4 basis lower than yesterday's 5pm "going out" marks. If your finger is on the "ACCEPT LOCK" button, hold out on locking at least until later this afternoon....(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. read more
Life in the Secondary Mortgage Market; More on FHA Approvals; Govie Loan Volume; New $100 Note
Posted To: Pipeline PressToday is "Take Your Kids to Work Day". Everywhere kids with parents who work from home are angling for a day off from school. I am continuing to see signs that the mortgage market is coming back somewhat. Not so much that guidelines are loosening, which they aren't, and in fact documentation requirements continue to increase, but more in the secondary markets. This was demonstrated yesterday with the news that Redwood Trust will be coming out with a $222 million private-label mortgage security. (The loans are not guaranteed by Fannie Mae, Freddie Mac or any other government-related entity.) Recent deals sold older loans; these are new creampuff loans , arguably exactly what we need, with the offering's lead manager being Citigroup and the co-manager being JPMorgan. The bonds...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. read more
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