mortgage rates: 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)

mortgage rates: 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)

mortgage rates: 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)

mortgage rates: 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)

mortgage rates: 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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Peoples Mortgage

Gilbert, AZ

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