My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Float if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing was taking place between 21 and 60 days Float if my closing was taking place ov
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01/16/2009
Prices of Mortgage Backed Securities (MBSs) are lower this morning as the Fed's efforts to bail out Bank of America stimulated demand for riskier assets. Stocks opened higher while Treasuries and MBSs sold off. The Consumer Price Index (CPI) fell in December fueled (pun intended) by record declin
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01/16/2009
Rates on 30-year mortgages set a record for a fifth straight week by dropping to below 5 percent, the lowest mark since Freddie Mac started tracking the data in 1971. The average rate for a 30-year fixed-rate currently stands at 4.96% with an average 0.7 point for the week ending January 15, 2009
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01/15/2009
Mortgage Backed Securities (MBS) are trading lower this morning with the 30 Year FNMA 4.5% coupon down 4/32 and at the low of the session. The producer wholesale prices fell last month as demand for raw materials dropped. Meanwhile, jobless claims rose last week. This indicated that companies hav
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01/15/2009
My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Float if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing was taking place between 21 and 60 days Float if my closing was taking place ov
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01/15/2009
As the January Mortgage Backed Securities (MBS) coupons are no longer open for trade, we should begin to see the disconnect between MBS prices and lenders' rate sheets diminish as their funding lines are replenished. However, the Fed remains at the ready to prop up MBS prices if the rollover from
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01/14/2009
My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Float if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing was taking place between 21 and 60 days Float if my closing was taking place ov
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01/14/2009
My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Float if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing was taking place between 21 and 60 days Float if my closing was taking place ov
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01/13/2009
The number of applications for refinancing existing mortgages is rising as interest rates are falling. Mortgage applications have risen to a 5 year high. According to the Mortgage Bankers Association, the index of applications to purchase a home or refinance a loan rose to 1,245.7, the highest le
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01/12/2009
My Lock Advice for Today: If I were considering financing/refinancing a home, I would... Float if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing was taking place between 21 and 60 days Float if my closing was taking place ov
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01/12/2009