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mortgage rates: Market Snap Shot - 1/21/2008 - 01/21/08 11:38 AM
The markets are closed today in celebration of MLK Jr's Birthday. Mortgages rates improved last week due to weak economic news and the uncertainty of the future. This week we see 3 economic reports with a moderate impact on mortgage rates: Initial Jobless Claims, Existing Home Sales and Crude Inventories. These are all on Thursday, so watch for potential rate changes due to investors reactions on Wednesday and Thursday.
Par today on a 30 year fixed rate loan is 5.375% and 4.875% on a 5/1 ARM for the best borrowers.
These are interesting times. Mortgage rates are back to historic lows, but … (0 comments)

mortgage rates: How Mortgage Rates are Calculated - 11/17/07 08:11 PM
 How Oregon Mortgage Rates are Calculated
 
There is a lot of discussion about Yield Spread (YSP) or Rebate. Is it a rip-off or is it in the client's best interest? The bottom line is that it is a part of how our price sheets are constructed and how we price loans. Mortgage Brokers do it and so do banks. One is just more transparent then the other. Whether it is right or wrong depends more on the situation and the client/lender relationship.
Before we can  answer that question, I think it helpful to understand the technical aspects of a rate … (0 comments)

mortgage rates: Mortgage Market Update - And the Slide Continues... - 05/24/07 11:50 AM
Current Price of FNMA 5.5% Bond:  $97.66  -12bp   This is an improvement from today's lows of -19 bp
Current 30 year fixed rate at par - 6.125%
Mortgage Bonds are taking a beating after a stellar New Home Sales report was released.   New Home Sales were reported at 981,000, which was much stronger than expectations of 860,000.  And the national monthly inventory dropped to 6.5 months from March's 8.1 months.   It appears that the Housing market continues to improve from its worst levels. 
In other news releases, Initial Jobless Claims came in at 311,000, which was higher than expectations of 305,000.  Durable Goods … (0 comments)

mortgage rates: Mortgage Market Update - 05/16/07 10:13 AM
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mortgage rates: Rate Watch - Alert to Lock - 05/09/07 01:40 PM
The Fed has spoken and while they have chosen to leave the benchmark alone, mortgage backed securities are reacting negatively. The benchmark FNMA 30 Yr. 5.5% note is currently down 15 basis points. This is down 12 for the day since most lenders came out with rates. While this normally isn't enough for lenders to reprice, it bears watching.
(Since writing this one of my lenders has already given a re-price for the worse.)
We've seen rates fairly steady for the last week and it will be interesting to see just what this news brings to long term rates..
… (0 comments)

mortgage rates: Are Mortgage Rates Heading Higher? - 05/02/07 11:23 AM
Long-term Mortgage Rates are based on the investment appetite of mortgage backed securities. In recent years, there has been a lot of foreign buying of our Bonds, including these mortgage backed securities.  And this foreign buying has helped keep our interest rates low.  But times are changing, as Bond yields in other major foreign markets have been gradually rising.  For example, when comparing the yields of US Treasuries with those of Great Britain, it was common in recent years to see US yields higher than those offered in Europe.  But now, things have changed, and Bonds in Great Britain actually offer … (4 comments)

 
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Larry Morris, Oregon Mortgages

Sherwood, OR

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HomeStreet Bank

Address: 16200 SW Pacific Highway, Suite Z-3, Tigard, OR, 97224

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Relevant news and information about issues relating to Oregon and Southern Washington mortgages and real estate. These views do not represent the views of HomeStreet Bank. View Larry Morris's profile on LinkedIn

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