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mortgage news: Inflation Remains Low
- 04/18/14 07:41 AM
While there was a great deal of intra-day volatility over the past week, mortgage rates ended the week with little change, remaining near the lowest levels of the year. Most of the volatility in mortgage rates was caused by big moves in the stock market and by news from Ukraine. Since these events had little impact on the long-term outlook for economic growth or inflation, their effect on mortgage rates was short-lived.
Inflation expectations play a fundamental role in determining mortgage rates and influencing Fed policy. The low levels of inflation seen in recent months have been a major reason … (0 comments)
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mortgage news: 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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mortgage news: Can you believe this real estate market?
- 01/29/14 07:56 AM
Many feel that counterparty considerations will rise in 2014, as the Dodd-Frank mandated legislation is about 50% complete. In a recent survey, conducted January 13-17, Secure Settlements, Inc looked at lawyers, notaries, escrow agents and title agents to examine the status of closing professionals in the increasing regulatory environment. SSI is seeking support for its mortgage industry pre-funding quality assurance risk management tools, this data helps provide that support. In the new realm of Qualified Mortgage, data pertaining to personal experiences in the closing process is an essential element to understanding risk, both from a consumer and enterprise standpoint. Major points … (1 comments)
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mortgage news: Early 2014 Economic Forecast
- 01/23/14 05:08 AM
The last few weeks of December 2013 proved to be quite ones – with little newsworthy economic news and a light trading volume. Even though the economic data (on average) exceeded expectations – this proved to have little impact on mortgage rates.
After months of speculation by investors, on Dec. 18th the Fed announced that it would begin to scale back its bond purchases. Mortgage rates have been kept low , thanks in part to added demand for mortgage-backed securities (MBS) from the fed – so this reduction is not good news for mortgage markets as we continue to expect rising … (0 comments)
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mortgage news: 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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mortgage news: 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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While there was a great deal of intra-day volatility over the past week, mortgage rates ended the week with little change, remaining near the lowest levels of the year. Most of the volatility in mortgage rates was caused by big moves in the stock market and by news from Ukraine. Since these events had little impact on the long-term outlook for economic growth or inflation, their effect on mortgage rates was short-lived. 
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