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mortgage backed securities: Fed Meeting contains few surprises, Mortgage Backed Securities don't like it - 01/29/09 01:34 PM
Well, another week is nearly gone and we have seen more action, both up and down on the mortgage market. So, where did we end up after the Fed’s announcement yesterday? Well, no surprises, they aren’t going to lower the rate to less than zero. However they did say some things in their announcement that mortgage backed security buyers didn’t care for, like, "economic conditions are likely to warrant exceptionally low levels of the Federal Funds Rate for some time" and that "inflation pressures will remain subdued in coming quarters".
I am afraid that comments like this will continue to … (9 comments)
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mortgage backed securities: Treasury drops $600 Billion into Mortgage Backed Securities, Mortgage Rates Fall - 01/13/09 09:38 AM
RATES! WHAT ARE THE RATES? MORTGAGE RATES! THE FED IS INFUSING MONEY! WHAT ARE THE MORTGAGE RATES? DOES IT MAKE SENSE TO REFINANCE MY REAL ESTATE LOAN? HOW CAN I MAKE OUT ON THIS NEWS? Five times in the past year, Mortgage Backed Securities (MBS) have jumped up in price to this level. All of those jumps were short lived and four of them, were followed by dramatic losses in value. What does that mean? It means that we have seen this type of activity before and mortgage rates have dropped in relation to the spike in MBS pricing because it … (21 comments)
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mortgage backed securities: Could Mortgage Interest Rates Drop to 4.5% with Treasury Intervention? - 12/04/08 08:09 PM
The latest rumor (anonymous comment) coming from our "tight lipped" bureaucrats in Washington is that Treasury Secretary Henry Paulson is considering a new plan to reduce mortgage rates in another bid to revive the U.S. housing market. The Treasury could, under this new plan, step up purchases of mortgage backed securities (MBS) to drive down interest rates on some loans to 4.5 percent, the official said on condition of anonymity. The possibility that this plan could change is enormous. Mortgage applications surged by a record last week and the average rate on a 30-year fixed-rate loan dropped to 5.47 percent, the … (68 comments)
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mortgage backed securities: Mortgage backed securities - the basis for mortgage rates - wild ride today - 12/01/08 02:23 PM
I know there are still lenders out there that think the 10 year Treasury bond controls the mortgage market but it doesn't and lately hasn't even been a viable indicator of what the market is doing. Mortgage rates are volatile. What else is new when talking about mortgage rates? Mortgage Backed Securities (MBS) are the basis for all mortgage rates for Fannie and Freddie and for government loans also. Today, we saw MBS swings of 50 basis points so far with rapid changes throughout the day. We started the day with better rates than Thursday and thought for a while we … (4 comments)
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Fred Chamberlin - Oak Harbor/Whidbey's #1 Experienced FHA Mortgage Consultant
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WA
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