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ca real estate: Where are interest rates going anyways?
- 03/27/14 01:39 AM
The Fed met last Wednesday however there has been little move in the market in reaction to that meeting. Recent economic data has shown few surprises also. However, one thing that seems to have influenced the U.S. mortgage rates seems to have been the shift in expectation for European Central Bank (ECB) policy, which seems to have helped mortgage rates move a little lower this week. The central banks in Europe and Japan seem to be moving in the opposite direction of the Fed, who is cutting its bond purchases and providing guidance for raising the Fed funds rate. However, … (0 comments)
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ca real estate: Seasonal slowness or serious market concerns?
- 03/19/14 09:11 AM
Wells Fargo’s economics group broke down the season challenges in the housing market. We wanted to know what impact the current weather has had on the housing market – has the impending drought and warm weather in the west or the winter storms in the east had more of an impact than normal seasonal swings? November through February are typically some of the least important months of the year for home sales and new builds. While this represents 1/3 of the calendar year – historically, it is only ¼ of new home sales. This lets us assume that much will be … (0 comments)
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ca real estate: What does the changing situation in Ukraine mean for interest rates?
- 03/06/14 11:13 AM
The ever changing situation in the Ukraine was the cause of most of the movement in mortgage rates over the past week, however, there was little net change to be seen.
During periods of uncertainty, there is a tendency in financial markets to move to safer assets – shifting to a defensive positions – this is known as “flight to safety”. When there is a political divide on major issues, where the outcome is unknown (think debt ceiling), investors tend to scale back on risk. Due to the troubles in the weaker euro zone countries, ones that might threaten global banking, … (0 comments)
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ca real estate: Is something amiss in the residential mortgage banking business?
- 02/11/14 01:01 AM
To an outside observer, it could seem that something is amiss in the residential mortgage banking business. While many of the “bad eggs” have the left the market, their crimes are still being brought to light in the press and through legal action. The good news, there are still hundreds and hundreds of lenders (brokers, mortgage bankers, and banks) who are trying to help borrowers refinance or buy a home. However, overcapacity is an issue. With originations dropping from nearly $1.8 trillion to $1.2 trillion, not everyone is going to survive. Originations ranged from about $500 billion to $1.5 billion for … (0 comments)
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ca real estate: 55+ housing community is recovering. What are they looking for?
- 02/05/14 01:47 AM
The turmoil of the financial market and economy in recent years changes many consumers’ retirement plans. However, recent news from the National Association of Home Builders (NAHB) was well received. There has been improvement in the third quarter of 2013 in the 55+ housing market. This represents the highest 3rd quarter numbers since the inception of NAHB’s 55 Housing Market Index.
There was a strong increase shown in all segments – from single-family homes, to condos to multi-family rentals. This confidence factor is great for the 55 housing sector as it shows that buyers and renters are interested in communities that … (2 comments)
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ca real estate: Consumers must plan to pay more for a mortgage in coming years
- 12/27/13 03:59 AM
In an effort to minimize the role that Fannie Mae and Freddie Mac play in the market – consumers can plan to pay more to get a mortgage next year. Freddie and Fannie will be charging higher fees in the future on loans to customers who don’t make large down payments or don’t have nigh credit scores. This group encompasses a large group of home buyers.
Fannie and Freddie currently back about 2/3 of new mortgages – however, they don’t originate mortages, instead they buy them from other lenders. It has long been felt in the market that the field needs … (4 comments)
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ca real estate: Lot's of confusion on QM in regards to BPMI
- 12/19/13 03:09 AM
With less than 13 business days left in 2013, an MI executive stated “The industry is keenly aware of the different approaches/decisions the large Correspondent lenders are taking with regards to BPMI Singles and how to count the fees towards the 3% limit”. Some banks are allowing the lender to exempt the first 1.75% as long as the BPMI single is refundable over at least 5 years, some are making lenders count all points toward the 3%. This could cause confusion in the marketplace, especially when dealing with smaller lenders. We expect continued changes and clarification on this in January as … (0 comments)
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The Fed met last Wednesday however there has been little move in the market in reaction to that meeting. Recent economic data has shown few surprises also. However, one thing that seems to have influenced the U.S. mortgage rates seems to have been the shift in expectation for European Central Bank (ECB) policy, which seems to have helped mortgage rates move a little lower this week. The central banks in Europe and Japan seem to be moving in the opposite direction of the Fed, who is cutting its bond purchases and providing guidance for raising the Fed funds rate. However, … (0 comments)
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