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Mortgage Rates Cound Start Moving Up If Economy Improves - 08/07/09 01:41 PM
INTEREST RATES FOR AUGUST 7th, 2009
MBS prices opened about the same as yesterday's close. Employment data released at 8:30 EST sparked a stock market rally which took investors (and their money) away from fixed income (treasury and MBS) bonds. Employment numbers showed fewer job losses and beat forecasts. So, with the jobs picture (less bad) than expected, the DOW is already up 145 points this morning. That's it for economic data today, but MBS prices may bounce around a little as investors try to decide the best place to put their money. Mortgages loose today as rates are generally about … (0 comments)
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More Changes at Fannie Mae and Freddie Mac - 08/06/09 11:08 AM
After one year as the director for the Federal Housing Finance Agency, James Lockhart announced he is stepping down, and plans to return to work in the financial-services industry in New York. The Federal Housing Finance Agency is the Fannie Mae and Freddie Mac regulator, created during the government's seizure of the two companies. According to the Wall Street Journal article, the Obama administration will need to select new director and is expected to make changes to the companies, which it says will be announced February.
The Obama administration is expected to make changes to the mortgage agencies, Fannie Mae and … (0 comments)
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Pending Home Sales Are UP - Again! - 08/05/09 11:54 AM
Pending Home Sales Up
According to the National Association of Realtors (NAR), Pending Home Sales is up for the fifth month in a row. Pending home sales in June rose in all regions: up 7.1 percent in the South, 2.9 percent in the West, 0.8 percent in the Midwest and 0.4 percent in the Northeast. NAR's Pending Home Sales Index (PHSI) is released during the first week of each month. It is based on signed real estate contracts for existing single-family homes, condos and co-ops , and is a leading indicator of housing activity.
Interest Rates for August 5, 2009
Signs … (1 comments)
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Mortgage Insurance Still Available on Conventional Loans AZ & CA Maxed @ 90% - 08/04/09 10:50 AM
Private Mortgage Insurance Reminder:
Mortgage insurance is available for Conventional financing in the (declining market) states of Arizona and California under the following terms:
•· 90% LTV / 90% CLTV
•· Owner Occupied Primary Residence
•· 720 Minimum FICO score
•· 41% maximum debt-to-income ratio
•· 2-4 months reserves
•· 1 unit SFR or PUD (no condos)
•· title seasoning requirements apply
Rate Quotes and underwriting guidelines can be found online. There are some restrictions and overlays to standard FNMA/FHLMC guidelines.
Genworth
MGIC
UG
Interest Rates for August 4th, 2009
Yesterday's economic data came in stronger than expected and sparked … (0 comments)
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Help for Foreclosed Homeowners and Thier Pets - 08/03/09 10:46 AM
The HOPE NOW ALLIANCEincludes a number of counseling organizations, which consists of all HUD intermediaries that have offices across the United States. The organizations play a key role in the success of HOPE NOW, providing borrowers in-depth debt management, credit counseling and overall foreclosure counseling. Homeowner resources for at risk of foreclosure. The Hope Now website Includes an external link to NO PAWS LEFT BEHIND , a resource for pet owners that may be having difficulty taking care of their pet and need to find shelter for their pets.
Interest Rates for August 3rd, 2009
The Treasury sells bills, notes, … (0 comments)
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