mortgage market update: Video Mortgage Market Recap for July 29th - 07/29/08 04:28 PM
Hello AR Team!
Never a dull moment. Talk about a see-saw. You would have to have nerves of steel sitting in the pits on Wall Street. Today the Dow is up 200 points and of course you have learned by now, when Stocks are on a rally, that typically means money … (0 comments)
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mortgage market update: Illinois Mortgage Rates - Weekly Mortgage Market Update - 07/26/08 10:28 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending July 25th, my take on the week's financial news and how it affected Illinois mortgage rates.
There was a fair amount of mortgage related news this week, and even more rumors. The economic news was again mixed, … (0 comments)
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mortgage market update: Mortgage Market Update for Friday July 25, 2008 - 07/25/08 08:24 AM
Bonds had a nice rally yesterday and closed above a key level of resistance. In order for confirmation of a technical break through the next trading day needs open above that as well......well bonds did not and they have given back 70% of yesterday's gains already. The headline number of durable goods … (1 comments)
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mortgage market update: Video Financial and Mortgage Market Update for July 24th - 07/24/08 11:10 AM
Hello AR Team,
As always, never a dull moment. Bad news for real estate, inventory climbed to a little over a 11 months, median home price year over year dropped 6.1% and jobless claims jumped to 406,000 for the week. The slightly good news is that when these kind of reports … (0 comments)
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mortgage market update: Mortgage Market Update for the week of July 21st - 07/21/08 05:59 AM
This week will be interesting for the bond market and mortgage rates. There are six economic reports scheduled for the financial and mortgage markets to digest, but only one of them is considered to be of high importance to the markets. But with data being posted all but one day of … (0 comments)
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mortgage market update: Mortgage Market Update for July 16th, 2008 - 07/16/08 07:45 AM
CPI was hotter than expected which is inflationary and bad for mortgage bonds.
CPI was estimated at .7% and came in at 1.1% year or year is 5%
Core CPI, ex -food and -engergy, was estimated at .2% and came in at .3% year or year it is 2.4%
… (0 comments)
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mortgage market update: Mortgage Market Update for Tuesday July 15th, 2008 - 07/15/08 08:07 AM
Another crazy day in this economy....the PPI was hotter than expected this morning which means inflation and the Retail Sales number missed. The core PPI which takes out food and energy was slightly better than expected which is some positive upside, but really food and energy is an obvious concern. Mortgage Bonds had … (0 comments)
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mortgage market update: Daily Video Financial and Mortgage Market Update for July 14 - 07/14/08 01:06 PM
Hello Team!
Yeah, a Magical Monday for Mortgages! Wow, what a roller coaster but looking back, this is really nothing new. There was talk on Thursday of a government bail out of Fannie Mae and Freddie Mac's financial troubles which caused their value to tumble to nearly 40% of a it's … (0 comments)
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mortgage market update: Mortgage Market Update for Week of july 14th - 07/14/08 07:44 AM
This week brings us the release of six important economic reports for the bond market to digest. Several of these reports are considered to be of high importance, meaning we will likely see volatility in the financial markets and mortgage pricing over the next several days. There are also plenty of … (1 comments)
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mortgage market update: The Crisis of Confidence - 07/13/08 09:03 PM
The Crisis of Confidence....that's probably the best way to describe it.
Friday was a crazy day in the financial markets being headlined by the potential failure of the government sponsors agencies (GSEs), Fannie Mae and Freddie Mac. At the start of Friday it was reported the government could take over these agencies over … (2 comments)
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mortgage market update: Declining Markets - 07/11/08 11:15 AM
Fannie Mae recently revised their declining markets policy. In a nutshell, their terms are:
Maximum 97% Loan to Value (LTV) on conventional/conforming loans regardless of the market with their proprietary Desktop Underwriter (DU)/Automated Approval, and 95% LTV maximum financing if the loan is underwritten outside of DU (manually).
You can see this … (13 comments)
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mortgage market update: Mortgage Market Update for Wednesday July 9th, 2008 - 07/09/08 06:13 AM
Bonds have been on a wild ride this week trading significantly lower until a sharp turn around Monday afternoon followed by a big rally yesterday, opening at their low and closing just off their high. The 30 year fixed rate is at it's best level in just over a month.
Bonds and stocks … (0 comments)
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mortgage market update: Weekly Mortgage Market Update for the week of July 7th - 07/07/08 08:22 AM
This week brings us the release of only two economic reports for the bond market to digest. It also is the beginning of corporate earnings season. Those quarterly earnings reports can lead to significant volatility in the stock markets, which could influence bond trading and mortgage rates.The first piece of economic … (1 comments)
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mortgage market update: Mortgage Market Update - Week of June 30, 2008 - 06/30/08 09:31 PM
The Mortgage Rates finally ended a week on an up note. The rates improved slightly at the end of last week but not as much as they could have. Mortgage Backed Securities were up pretty good but lenders didn't tranlate all the gains in to giving that much better rates.
The … (1 comments)
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mortgage market update: Mortgage Market Update for June 30, 2008 - 06/30/08 08:35 AM
Today is the last day of the 2nd quarter and the DOW is on pace to have its worse month of June since 1930. A new oil intraday high of $143.57 just hit as well. I just heard those stats and thought I should share.
This is my first update in … (2 comments)
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mortgage market update: Mortgage Market update fo the week of June 30th - 06/30/08 07:39 AM
This week brings us the release of very few economic reports for the markets to digest. There are only three monthly reports scheduled for release that are likely to affect mortgage rates, but one of them is arguably the most influential single piece of data that we see each month. This … (0 comments)
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mortgage market update: June 25th Video Market Update - 06/25/08 11:06 AM
Hello Fellow AR'ers
Quick market update. The Feds are in day two of their policy meeting they hold every 6 weeks and they should announce at 11:15 PST what they policy decison is currently and more importantly their stance going forward. The analysts have already predicted no cut so the market … (0 comments)
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mortgage market update: June 24th - Mortgage Market Update - 06/24/08 02:40 PM
The market has been very volatile lately. Here is my breakdown as to what's happening on the mortgage bond market, and my assessment as to where rates will go. If you have any questions please do not hesitate to contact me!
… (0 comments)
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mortgage market update: Mortgage Rate Update for June 23rd, 2008 - 06/23/08 05:45 PM
This week is about about Wednesday and what the Fed is going to do. It would be an absolute shock if they chose to raise rates to begin the fight on inflation. Wall Street is most interested in what the statement is going to say about the issues and their views, … (2 comments)
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mortgage market update: Mortgage Market Update for the week of June 23rd - 06/23/08 07:47 AM
This week will likely prove to be very active in terms of mortgage rate movement due to the economic data and other events that are scheduled. There are six economic reports scheduled for release, but in addition to the data, another Federal Open Market Committee (FOMC) meeting will be held this … (1 comments)
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mortgage market update: Mortgage Rates for June 20, 2008 - 06/23/08 05:06 AM
Bonds were off 3 bps on the day this Friday, aftering stalling out and not being able to break up the upward resistance line for the 3 consecutive day. There was not economic released and the down did finish off down over 200 points and the S & P finished down … (0 comments)
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mortgage market update: Video Market Update for June 18th - 06/18/08 10:48 AM
The bond market and mortgage backed securities that directly effects mortgage rates are up for the 3rd day in a row after hitting an ugly bottom last week. When I say mortgage backed securities are up, that means the value is up, in turn, causing lower interest rates. So up is … (2 comments)
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mortgage market update: Mortgage Rate Update for June 17th, 2008 - 06/17/08 05:26 PM
CPI was in line with expectations and PPI was a bit hotter this morning. Mortgage Bonds seems to have drawn a line in the sand for now and are attempting a reversal. We finished up 50 bps on the day closing right inbetween a dual layer of resistance. Bonds are also … (2 comments)
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mortgage market update: Mortgage Market Update for June 16,2008 - 06/16/08 09:50 AM
Mortgage backed securities are trading flat on the day down just 3bps this morning. Bonds have been in a downward trend for the last 2 weeks and rates have crept up .75% higher nearing 7.00%.
The recent pressure on bonds are due to the pressure the heightened inflation concerns of the market. The … (0 comments)
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mortgage market update: Mortgage Market Update Friday the June 13th, 2008 - 06/13/08 10:52 PM
Well it is official......the bond market is fearful of inflation. Some decent CPI numbers came out this morning but that was overshadowed this afternoon by the word no bullish bond trader wants to here........INFLATION is here and rising......well on the flip side it is quite obvious with the cost of food … (1 comments)
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mortgage market update: Market Update for June 12, 2008 - 06/12/08 08:32 AM
Mortgage Bonds are down 38 bps this morning as of 920am EST. Stock futures are up and oil is down which is leading to bond deterioration. Retail sales were released this morning and came in better than expected for May and better than they were in April, very good news for … (0 comments)
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mortgage market update: Market Update for June 10th, 2008 - 06/11/08 07:28 AM
On a technical note, mortgage bonds are down 5 straight session at 216 bps points....rates have rose to the 6.625% area on a conventional 30 year fixed. Bonds are oversold, which generally indicates that the buyers will be back and drive prices back up. When bonds drop suddenly they … (0 comments)
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mortgage market update: Market Update June 10th, 2008 - 06/10/08 06:12 AM
Mortgage Backed Securities had a wild day yesterday. Off 81 bps at the low but did rally to close at a support level see chart below noting the circled red candlestick representing yesterdays trading day(amazing how that works)
Bernanke spoke yesterday about inflation believing the sluggish growth of our … (0 comments)
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mortgage market update: Illinois Mortgage Rates Mortgage Week in Review - 06/09/08 08:14 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending June 6th, my take on the week's financial news and how it affected Illinois mortgage rates.
The Dow tumbles 400 points. Oil surges to a new record high of $139 per barrel. The unemployment rate spikes by … (2 comments)
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mortgage market update: Market Update June 9th, 2008 - 06/09/08 07:19 AM
Mortgage Bonds are taking a beating off this morning by 59 bps early bouncing off a resistance level and now are sitting down on a level of support. No economic data released today. Retail Sales is out Thursday which should be a market mover. Oil went up $16 a barrell on Thursday and Friday. … (0 comments)
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mortgage market update: Market Update - Friday June 6, 2008 - 06/07/08 10:18 PM
Friday's headlines that affected the Mortgage Market are as follows;
The News:
Non Farm Payrolls
expected at 60k loss
Actual Reading was a 49k loss
This alone would not be much help to the MBS market
Unemployment rate
rose to 5.5%, in it's biggest one month jump since 1980
88% of … (1 comments)
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mortgage market update: Mortgage Rate Update for 6/6/2008 - are we in a Recession??? - 06/06/08 07:18 AM
Non-farm payrolls estimated -60,000 actual -49000 (better than expected...good news for the economy bad for mortgage rates)
Unemployment numbers estimated 5.1% actual is 5.5% (huge jump of .5% last time this happened was in 1986.....THIS IS A HUGE NUMBER PROBABLY CATCHING UP TO WHATEVER EVERYONE WAS EXPECTING)
Unemployed workers surged by … (0 comments)
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mortgage market update: Mortgage Market Update for June 4th, 2008 - 06/04/08 09:19 AM
Mortgage Bonds are trading lower this morning and surprise, surprise they are sitting right on the 200 day moving average. On Monday bonds broke through and closed above the 200 DMA and did trade below it yesterday but closed in positive territory at the end of the trading day. Technically … (0 comments)
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mortgage market update: Mortgage Rate Update for June 3rd, 2008 - 06/03/08 08:25 AM
Mortgage bonds are trading -6 bps this morning with no economic data on the docket for today. Fed chairman Bernanke is speaking this morning about the economy and he could move markets, other than that bond trading will be driven by the stock market (stocks up bonds down vice versa)
… (2 comments)
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mortgage market update: Mortgage Rate Update for June 2nd, 2008 - 06/02/08 07:43 AM
Mortgage bonds are up 22 bps this morning. After the selloff Friday afternoon, pricing should be right inline with the Friday morning rate sheets. Just 9 bps higher and bonds hit the strong resistance level at the 200 day moving average. Wait and see what rates do after the ISM number is released … (1 comments)
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mortgage market update: Market Update for the week of June 1st - 06/01/08 09:25 PM
This week brings us the release of a couple important pieces of economic data in addition to some moderately important reports. There are a total of four or five reports that are worth watching and are most likely to affect mortgage rates. The first is the Institute for Supply Management's (ISM) … (1 comments)
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mortgage market update: Mortgage Rate Update for May 30th PCE and Bulls v. Bears - 05/30/08 08:42 AM
Mortgage Bonds are up 41 bps as of 910am this morning. Core PCE, Personal Consumption Expenditures without food and energy, was released this morning in line with estimates, inflation is still under control. Year or Year PCE is 2.1% slightly above the Fed's target range of 1-2% but this the Fed … (0 comments)
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mortgage market update: Mortgage Rate Update for May 29th - 05/29/08 11:15 AM
Well so much for hoping rates would stay above the 200 day moving average as I hoped ina blog post last night: May 28th Mortgage Bond Chart
Bonds gapped open lower today by a negative 31 bps. We are now down 75 bps are should lock everything under the sun … (0 comments)
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mortgage market update: May 28th Mortgage Bond Chart - 05/28/08 06:27 PM
Today I posted my mortgage market update for the day and recommended to FLOAT because we had tested a key level of support at the 200 day moving average which we did bounce off. Just after 1pm, bonds did fall through that support and I changed my bias to a LOCK position, so I updated my blog to … (0 comments)
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mortgage market update: Mortgage Rate Update for May 28th - 05/28/08 08:58 AM
Durable goods orders were released this morning for April coming in better than expected at -0.5%. The estimate was -1.5%. Durable goods are manufacturing goods that are expect to last at least three years. Usually a better than expected number means that companies are spending extra capital on equipment for future growth and the economy … (1 comments)
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mortgage market update: Market Update for the week of May 26th - 05/26/08 07:56 AM
This holiday shortened week brings us the release of six important economic reports or news releases. Two of the six are considered to be of high importance to the bond market and mortgage pricing with one being of low importance. The remaining reports are considered to be of moderate importance to … (0 comments)
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mortgage market update: Market Update May 23rd -Existing Home Sales - 05/23/08 10:54 AM
This morning Existing Home Sales were released and came in slightly better than expected. 4.89 mil v 4.85 mil. But still on a downward trend year or year. The US is off 17.5% in seasonally adjusted sales year over year and 8% in price during the same time frame. The most … (0 comments)
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mortgage market update: Mortgage Rate Update May 22nd - 05/22/08 07:54 AM
This morning's initial jobless claims came out slightly better than expected 365k v 370k. The stock futures are taking the news as a positive and money will move out of bonds and into stocks. The DOW lost a decent amount over the past 2 days so expect a good day for … (1 comments)
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mortgage market update: Fed Minutes Summary - 05/21/08 01:46 PM
The Federal Open Market Committee released their minutes from their April meeting at 2pm today
Here are the highlights:
They lowered their growth forecast of the economy slightly over the next few years.
They expect higher inflation and unemployment in 2008 and 2009.
They believe "risk is receding" in the credit … (1 comments)
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mortgage market update: MOrtgage Rate Update May 21st - 05/21/08 10:11 AM
This morning's mortgage bonds are off about 20 bps. Bonds are still sitting above a strong level of support at the 100 and 50 day moving averages so I recommend to FLOAT for now.
This afternoon the much anticipated Fed Minutes are released at 2pm. In these minutes we will discover how the … (0 comments)
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mortgage market update: Mortgage / Housing bill saved by bipartisan Senate??? - 05/20/08 01:11 PM
Yesterday Sentor Chris Dodd (D) and Senator Richard Shelby (R) two head of the banking committee in the Senate announced an agreement was reached. The revised bill eliminates the use of taxpayer money to bail out lenders and spec investors. The Senate version puts the financing responsibility on Fannie Mae and Freddie Mac via … (4 comments)
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mortgage market update: PPI released, mixed numbers - Mortage Rate update for May 20th - 05/20/08 08:51 AM
PPI, producers price index, was released this morning and was tamer than expected at 0.2%. The street was expecting 0.4%, however core PPI (ex food and energy) was hotter 0.4% than expected 0.2%. Stock are reacting negatively to this news on the open and mortgage bonds so far are up 16 bps … (0 comments)
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mortgage market update: Mortgage Bonds: Bulls v. Bears - Week of May 19th Interest Rate Update - 05/19/08 07:46 AM
The mortgage bond market lost some momentum going into this past weekend. The bulls and the bears are battling at a key support / resistance level. It is interesting to watch the bond market in real time put up a fight when it approaches these levels. On Friday morning it looked … (3 comments)
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mortgage market update: Market Update for the week of May 19th - 05/19/08 06:51 AM
This week brings us the release of only three pieces of economic news in addition to the minutes from the last FOMC meeting. Only one of those three can be considered of high importance to the markets and mortgage rates, so we may see a fairly calm week for mortgage rates. … (1 comments)
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mortgage market update: Mortgage Market Update - 5/15/08 - 05/15/08 10:02 AM
In the news today, Jobless Claims are up for first time applications ot 371,000. Economists had predicted it would increase to 370,000. Typically when Unemployment is up the stock should be down and the bond market should be up. Not always the case as Unemployment is a "lagging" indicator so the … (3 comments)
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mortgage market update: Market Update for the week of May 11th - 05/12/08 07:35 AM
There are several important pieces of economic news scheduled to be released this week, but two stand out above the others. There are a total of five reports scheduled for release, so it can be considered a fairly active week. There is no relevant data due out tomorrow, so expect the … (2 comments)
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mortgage market update: Mortgage Market Update - 5/7/08 - 05/07/08 09:55 AM
Expect higher rates today as the Bond yield is currently at 3.92%. Not surprising as the Stock Market heads above 13000 again. Pending home sales down 20% from this time a year ago, but this was expected given the market.
On a side note, how about Walt Disney profits up 22%. AHHH, … (1 comments)
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mortgage market update: Mortgage Market Update - 5/6/08 - 05/06/08 09:56 AM
Fannie Mae and UBS lead off this morning with greater than expected losses. Fannie mae will reduce dividends to raise capital. UBS will sell $15 billion of subprime mortgages to BlackRock along with slashing 5500 jobs.
Oil...Oil...Oil Do I dare bring it up. Oil is at an all time high and no relief … (3 comments)
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mortgage market update: Mortgage Market Update - 4/29/08 - 04/29/08 10:53 AM
Stock slide on Consumer confidence reporting lowest level since March 2003. Bonds have been favored and the yield has pushed back down under 3.8% to 3.78%. Mortgage rates should relax this morning. Could be a good day to lock in clients.
Tomorrow FOMC meeting could bring out a Fed rate cut, if … (1 comments)
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mortgage market update: Mortgage Market Update - 4/4/08 - 04/04/08 11:45 AM
Employers slashed 80,000 jobs...way more than the analyst expected. Unemployment rate was up to a new high in 3 years at 5.1%. Stock Market is moving slow today on this news and the bond market is trading well. This should push interests rates down a tad for a Friday.
I am … (2 comments)
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mortgage market update: Mortgage Market Update - 4/3/08 - 04/03/08 12:42 PM
The jobless Claims reported that Unemployment surged last week the highest level since 2005. This news has calmed the Stock Market and all eyes will be on the Monthly Job Report due out tomorrow. Economists are expecting to see 50,000 job cuts. If the report post greater than 50,000 then the … (3 comments)
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mortgage market update: Mortgage Market Update - 4/2/2008 - 04/02/08 02:32 PM
Today seems a tad off for me and I apologize for reporting in late. After the stock market surge on Tuesday (+400 points) and better than expected report on ADP Employment number the stock market started out good. Then Bernanke stepped up and mentioned the R Word (Recession) causing the Dow to fall. … (3 comments)
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mortgage market update: Mortgage Market Update - 4/1/2008 - 04/01/08 12:02 PM
Wall Street starts 2nd quarter 2008 off with a BANG. (And that's no April Fool's joke)
The Dow currently up 295 points on better than expected ISM Manufacturing Index. Economists were expecting this one to fall but the reading posted up to 48.6. (Keeping in mind that a reading under 50 suggest … (5 comments)
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mortgage market update: Mortgage Market Update - 3/31/08 - 03/31/08 11:57 AM
Today the Stock market struggles out of the gate and Bonds are up slightly. The Chicago Purchasing Managers Index reported better than expected read on Manufacturing. The report showed that Regional manufacturing was at 48.2 up from 44.5 the previous month. The market was expecting a read of 46.0...signaling a welcome increase. However, … (4 comments)
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mortgage market update: Mortgage Market Update - 3/28/08 - 03/28/08 10:19 AM
Out of the gate Personal Income rose .05% in February ahead of the .03% predicted by economists. This has the stock market up this morning and the bonds are down. Even though the Personal Income reported higher than expected, Consumer Spending remaines weak.
Personal Income and Consumption reports monthly and affects the … (0 comments)
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mortgage market update: Mortgage Market Update - 3/27/08 - 03/27/08 02:15 PM
Nothing earth shattering in the news today. Same talk as usual at Wall Street: Credit Crunch, Meltdown, doom and Gloom. So I thought I would share some of the positive things going in my corner of the world.
The last 5 apps I took this week - were ALL purchases...and get this … (4 comments)
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mortgage market update: Mortgage Market Update - 3/26/2008 - 03/26/08 10:06 AM
Stocks open down this morning as investors face bad news from all angles...New Homes Sales down to a new 13 year low in February, Factory orders were down and oil spiked $3 a barrel. On top of that, the proposed $19 million buyout of Clear Channel is not to clear as … (6 comments)
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mortgage market update: Mortgage Market Update - 3/25/08 - 03/25/08 11:22 AM
Consumer Confidence at a 5 yr low as Housing Prices drop more than 10% in key markets. The consumer still fears the worse is yet to come with the job market low, pricing rising, and lenders tight on credit. As the prices dropped on homes for sale, the output was only … (7 comments)
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mortgage market update: Mortgage Market Update - 3/24/08 - 03/24/08 11:54 AM
Several interesting things going on in the market place today. First, The JPMorgan Chase/Bear Stearns deal, under a lot of pressure from Shareholders and Investors at Stearn, Chase ups the purchase price to $10 a share and agrees to absorb the first billion of loses and then the gov't covers the … (7 comments)
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mortgage market update: Illinois Mortgage Rates Weekly Update - 03/22/08 09:49 AM
Welcome to Illinois Mortgage Rates and News week in review for the week ending March21st, my take on the week's financial news and how it affected Illinois mortgage rates.
The biggest story this week was what didn't happen. At the end of last week the Fed stepped in to engineer an … (2 comments)
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mortgage market update: Mortgage Market Update - 3/21/08 - 03/21/08 07:25 AM
All markets closed today for Good Friday..Banks are open though. This should allow a calming effect and chance to get off the roller coaster ride for a break. After this week, a break is needed. The big talk in the Market is the Dollar and its continual slide. Many worry that … (5 comments)
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mortgage market update: Mortgage Market Update 3/20/08 - 03/20/08 11:22 AM
Not much to report today in the market. The Stocks are up 108 points right now...Bond prices are down a tad pushing the yield up and this has already caused a reprice for the worse. Oil falls back down to $100 a barrel...and the dollar tries to climb.
Many predict that the … (2 comments)
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mortgage market update: Mortgage Market Update - 3/19/2008 - 03/19/08 09:38 AM
Yesterday was one of the craziest days...much more calmer today. Here is a snapshot of what is going on:
Earlier I blogged about Visa going Public...well they broke the record and raised $17.9 billion dollars with the initial Public offering, and will begin trading to day under the symbol (V). Elsewhere Morgan … (3 comments)
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mortgage market update: MORTGAGE MARKET HAPPENINGS - BRIAN DALY (03/18/2008) - 03/18/08 06:27 PM
Greetings from Brian Daly:
---I am going to start posting these updates on this blog as I send this information out to my clients' emails. The market has been EXTREMELY volatile as of late, and interest rate movements have been hard to forecast, and hard to understand. I have been using … (1 comments)
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mortgage market update: Mortgage Market Update - Final one for 3/18/08 - 03/18/08 03:15 PM
Okay - this is my last blog post for today and unfortunately it's sparked by a REPRICE FOR THE WORSE again. The stock market surges 420 points and with this the bond market sell off sent the yield to 3.45% just enough to push a small increase in mortgage rates. The … (12 comments)
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mortgage market update: Mortgage Market Update 2:30 3/18/08 FED cut rate .75% - 03/18/08 01:35 PM
It's official, The Fed cut the rate by .75% to 2.25%. This is Less than the market (meaning wall street) was expecting. This could cause the stocks to loose a little steam as they were looking for a full 1point. We have repriced our fixed rates only for the better and I … (6 comments)
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mortgage market update: Mortgage Market Update 10:39 am 3/18/08 - 03/18/08 09:42 AM
Stocks soar on better than expected reports from both Lehman and Goldman Sachs. Signaled to investors they may weather this storm, however the same thing was said by Bear Stearn so only time will tell. Still awaiting the Fed news but mortgage rates posted out the same as late yesterday - no … (10 comments)
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mortgage market update: Mortgage Market Update - 3/18/08 - 03/18/08 07:36 AM
All eyes on the FED this morning as many expect a huge drop in Fed Funds rate...some suggesting more than a point. That would put the prime lending rate at 5% or less...The question remains, Will this spark the economy?
Banks are still tight on lending. Especially in the Jumbo sector and … (5 comments)
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mortgage market update: Mortgage Market Update - Reprice Improvement 2nd time today! 3/17/08 - 03/17/08 04:43 PM
At 5:25pm today - I received the second reprice for the better. While the improvement was slight - I believe it will be short lived. Tomorrow, The FED will cut the Fed Funding Rate and I am beginning to think it will be dramatic...As much as 1%. How or if this … (1 comments)
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mortgage market update: Mortgage Market Update 3/17/08 - 03/17/08 09:34 AM
A lot going on in the market right now. First the big news over the weekend...The Fed cut the discount rate by a quarter and JPMorgan Chase is acquiring Bear Stearn. The Fed's discount rate cut to 3.25% (from 3.5%) should provide banks more ways to obtain short term loans. The … (3 comments)
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mortgage market update: Illinois Mortgage Rates Week in Review - 03/14/08 10:29 PM
Welcome to Illinois Mortgage Rates and News week in review for the week ending March14th, my take on the week's financial news and how it affected Illinois mortgage rates.
Do you remember the scene in It's a Wonderful Life where they had the run on the bank? In the movie Jimmy … (0 comments)
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mortgage market update: Mortgage Market Update - 3/14/08 - 03/14/08 10:09 AM
Today is a great day to lock. By now most of you have received your rate sheets and hopefully they posted lower - I know mine did. Stocks slide on Flat CPI numbers and Bear Stearns possible bail out from the NY Fed and JPMChase. As the dollar continues to weaken, oil … (12 comments)
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mortgage market update: Mortgage Market update - 3/13/08 - 03/13/08 03:48 PM
I was out this morning and just now able to post a blog about the market. While I was following the ins and outs of mortgage rates, I regret that I could not post earlier. Yesterday was one of those days I could have locked 10 loans in if only I … (2 comments)
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mortgage market update: Mortgage Market Update - Reprice For the better 3/12/08 - 03/12/08 03:33 PM
Rates reprice for the better for the 2nd time today. Interesting to note - The 30 yr FHA fell to 5.5% today...making this a really good day to lock late in the afternoon. Arm loans on the other hand are moving in the opposite direction. The FED injection of $200 billion … (4 comments)
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mortgage market update: Mortgage Market Update - 3/11/08...End of Day - 03/11/08 03:22 PM
First and foremost - to see the stock market back above 12,000 was nice but to finish the day up 417pts...that was a bonus. This surge affected the bond market but not as bad as I thought it would. The Yield finished at 3.6%...Not bad considering the surge on Stocks. Again, … (3 comments)
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mortgage market update: Mortgage Market Update - 3/11/08 - 03/11/08 10:45 AM
Sorry for the delay this morning. I had a board meeting and I have returned to my office to see the "turn" in the markets. Stock Market jumped up 250 pts early this morning on news that the Fed is going to loan upto $200 Billion to banks to ease the credit … (2 comments)
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mortgage market update: Mortgage Market Update 3/10/08 - 03/10/08 08:51 AM
After the Rollercoaster ride last week, don't expect a smooth ride this week. The market has opened shaky this morning and remains below 12,000. The dollar continues to weaken, fueled by a Fed Cut coming on the 18th. Retailer are reporting in and showing more signs of a slowing economy. Major reports … (12 comments)
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mortgage market update: Mortgage Market Update 3/7/08 11:00 am - 03/07/08 10:05 AM
The Stocks have rebounded as Wall Street bets on a Fed Rate cut coming soon. With that the bonds have lost ground. The yield currently sitting at 3.61%...If bonds sell off too much more we could be hit with higher rates again today. The Fed is making more money available to … (2 comments)
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mortgage market update: Mortgage Market Update 3/7/08 - 03/07/08 08:27 AM
The Labor Department posted Worse than expected Job numbers. Stating the US Payrolls fell 63,000 in February. The Stock market has opened down and dropped below 12,000...Bonds rally with the yield sitting at 3.49%. Mortgage interest rates should post out lower this morning but we will only be regaining ground we … (6 comments)
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mortgage market update: Mortgage Market Update 3/5/08 - 03/05/08 09:24 AM
Stocks open up ever so slightly, and so did the bonds(although they have lost ground already), however my rate sheet posted slightly higher rates from yesterday's late day reprice. Mortgage Apps are up 3%, but giving how low they were before, apps could only go up. Revised Productivity reading is up(barely) … (4 comments)
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mortgage market update: Mortgage Market Update 3/4/08 - 03/04/08 08:50 AM
Get ready for the Stock Market to drop below 12000 - Looks like the bonds are up a tad in early session but only time will tell and the Futures continue fall, the dollar is at an all time low. There's a lot of talk about a possible rate drop by the … (4 comments)
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mortgage market update: Mortgage Market Update For The Week of March3rd - 03/03/08 06:32 AM
This week brings us the release of five economic reports to be concerned with. Two of the reports are considered to be only moderately important while one is of extreme importance to the bond and mortgage markets. With the key reports spread throughout the week I am expecting to see a … (0 comments)
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mortgage market update: Mortgage Market Update: 2/26/08 Reprice Improvement - 02/26/08 03:22 PM
Well look what the Fed drug in! They auctioned $30 billion in funds to banks to assist them in making loans. The fed is hoping this will ease some of the credit squeeze we are all feeling. With this, the bonds reacted positively and sent us a nice reprice for the … (3 comments)
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mortgage market update: Mortgage Market Update 2/26/08 - 02/26/08 10:51 AM
Not much to talk about this morning. Stock and bonds are both trading modestly. The Yield on bonds hovering at 3.86%...Keep an eye on that one today. If it goes above 3.9% you will most likely see a reprice for higher interest rates. I dip below 3.84% could send a reprice … (2 comments)
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mortgage market update: Mortgage Market Update 2/25/08 - 02/25/08 09:33 AM
Stocks and bonds...What will we do... Homes Sales data showing January sales down .04% from December...This was expected. However the stock market may survive today off the talks of Ambac...The bond insurer that is close to reaching an agreement for more capital.
Anything goes this week. Watching the Bond Yield (currently at 3.82%) … (0 comments)
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mortgage market update: Mortgage Market Definition: RECESSION - 02/25/08 06:36 AM
By Definition: A Recession is the decline in a country's gross domestic product (GDP) for 2 or more quarters successively. Personally, many of us may feel like we are already in a recession but Wall Street looks at the GDP...So if the GDP does not decline then technically there's no "recession".
What … (1 comments)
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mortgage market update: Mortgage Market Update 2/22/08 - 02/22/08 12:48 PM
Happy Friday! The Market is really flat today...Typical of a Friday when there's no real data being released. Get ready for Monday and next week as Existing Homes Sales, PPI, and Consumer Confidence all report next week. It could be a wild ride starting Monday.
As far as the stimulus package … (2 comments)
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mortgage market update: Mortgage Market update 2/21/08 - 02/21/08 10:13 AM
Nice surprise to see the bond yield down to under 3.8%, If you haven't already noticed on your rate sheets, Rates are lower. Stocks not doing to much today which is why the bonds are the go to items of the day. Keep an eye on those bonds. If the yield … (1 comments)
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mortgage market update: Mortgage Market Update For The Week of January 27th - 01/28/08 08:13 AM
This week is extremely busy in terms of economic data scheduled for release and will likely be another active week for mortgage rates. The number of releases is actually irrelevant due to the importance of the some of the reports. There are nine economic releases scheduled for the week in addition … (1 comments)
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mortgage market update: Panama City Real Estate - Mortgage Newsletter Update - 11/12/07 08:07 AM
As we near the end of another year, it is important for us to maintain perspective on the Panama City Florida Mortgage market.
Linda's Mortgage Market update, helps consumers and investors maintain this perspective with:
Rates and Index InformationMarket CommentaryFreddie Mac Primary SurveyEasy to understand Graphs Economic SnapshotThe lastest issue of Linda's Mortgage … (0 comments)
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mortgage market update: Market Update for Wednesday September 5th - 09/05/07 08:41 PM
Important News affecting the Economy and Mortgage Market Today. The ADP Employment Report came in showing private sector job growth of only 38,000 jobs during August, the smallest monthly total in four years. After factoring in government Job growth, the ADP data suggests this Friday's official Jobs Report from the Labor Department … (3 comments)
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mortgage market update: The Truth About the Mortgage Market - 08/27/07 04:20 AM
The Truth About the Mortgage MarketHayden Gerson Branch ManagerAmerica One MortgageLos Angeles CA – Subprime mortgages have now been credited for bankrupting well over 110 lenders and seriously damaging operations at many major mortgage firms. They've reportedly wiped out 5 hedge funds, tens of thousands of jobs, and have led to … (4 comments)
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mortgage market update: Market update for the week of August 20th - 08/20/07 04:01 PM
This week brings us the release of only three economic reports for the bond market to digest. The Conference Board will give us the first data late tomorrow morning when it releases its Leading Economic Indicators (LEI) for July. This index attempts to measure economic activity over the next three to … (0 comments)
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mortgage market update: How many lenders have you lost? - 08/09/07 11:28 AM
You have been hearing it for the past 9 months. See www.ml-implode.comfor a running tally of which lenders are sunk, which are sinking and which are looking for a tub boat to pull them into shore. Until recently, this probably hasn't affected you or your borrowers. However, with the sudden collapse … (6 comments)
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mortgage market update: What is going on with the market? - 08/07/07 09:38 AM
Could not stand by any longer on this topic. Too many things going on in the market. While generic questions will always be asked and need to be answered, there are some very dynamic changes happening in today's mortgage market.
One rant that hit the national scene last week was CNBC's … (0 comments)
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