Zeus Has Unleashed the Cracken on MBS I know, cheesy headline but c’mon. Look at the chart above. See that last big Red Bar on the right? That represents the price drop in the 4.5 FNMA Mortgage Coupon. Too technical? Just know that if a price of a bond goes down, the yield or interest [...]
The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 26, 2010, increased 1.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.5 percent compared with the previous week. “Purchase applications have increased over the past month, and are now at their [...]
Last Week; after all the chopping around the longer end of the yield curve ended generally unchanged, mortgage rates and prices were unchanged. At the middle and short end of the yield curve rates increased, the 5 yr treasury increased to 2.41% up 7 basis points, the 2 yr note jumped 6 basis points to [...]
USDA Section 502 loans are primarily used to help low-income individuals (here in Oregon that starts at $80,500 gross income for a family of 1-4) or households purchase homes in rural areas. You can view the eligible areas via their website. Funds can be used to build, repair, renovate or relocate a home, or to [...]
Mortgage rates will rise in response to yesterday’s Fed action. If you’re in the process of shopping for a mortgage or buying a home, the longer you wait to commit, the higher your mortgage rate will likely be. Call or // send me an email and I will send you a rate quote based on [...]
The Federal Open Market Committee ends a scheduled, 2-day meeting today in Washington. It’s the first of 8 scheduled meetings for the policy-setting group in 2010. The group adjourns at 2:15 PM ET. Here is a rate-locking strategy for you.
Mortgage pricing worsened Monday, driving mortgage rates to their highest levels since October. The day’s action was drastic, too. Some banks issued as many as 3 rate sheets Monday — each worse than the preceding and one reason why rates got so bad, so quickly, is because this week marks the beginning of mini-Vacation Season [...]
