Charlotte NC Real Estate, Mortgage News

Mortgage News

Mortgage News Daily
The Day Ahead: Most Significant Economic Report and Final Auction	2/22/2012 11:00 PM
Posted To: MBS Commentary Wednesday ended on a positive note for Mortgage-Backed Securities and Treasuries after uneventful economic data in the morning, a reasonable 5yr Note Auction in the afternoon, as well as a bit of a push back against Tuesday's Greek-bailout-inspired positivity (that's "positivity" in a broad economic sense, the kind that favors stocks and tends to hurt bond markets). Looking at 10yr Notes as the most usual of suspects when it comes to benchmarking movements of broader bond markets, we see some interesting patterns in the week of trading so far. Early yesterday morning, they backed up to Tuesday's high yields before beginning their somewhat brisk counterattack lower in yield, eventually breaking past 2% later in yesterday's session. The characteristically low volume open of the following day...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS RECAP: 2/22/2012	2/22/2012 3:16 PM
Posted To: MBS Commentary MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-12 : +0-13 FNMA 4.0 105-08 : +0-08 FNMA 4.5 106-19 : +0-05 FNMA 5.0 108-02 : +0-04 GNMA 3.5 104-27 : +0-13 GNMA 4.0 107-22 : +0-07 GNMA 4.5 109-03 : +0-06 GNMA 5.0 110-29 : +0-03 FHLMC 3.5 103-05 : +0-13 FHLMC 4.0 104-28 : +0-08 FHLMC 4.5 106-06 : +0-07 FHLMC 5.0 107-22 : +0-05 Pricing as of 4:00 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 2:42PM : ALERT: Favorable Technicals For Bond Markets. Additional Positive Reprices We say "additional positive reprices" both in the sense that additional reprices have been reported since the last update and that there's ongoing potential for additional positive reprices at current levels. This afternoon's strength...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Mortgage Rates Improve But Remain On Fence Between Recent Offerings	2/22/2012 3:07 PM
Posted To: Mortgage Rate Watch Yesterday marked the first time since late January that Best-Execution Mortgages Rates stood at 4.0% on average, as opposed to what had been the prevailing average of 3.875%. Rates improved today for most lenders, several of whom once again are offering 3.875% as a "best-execution rate" (learn more about what that means in this previous post with more detailed discussion about Best-Execution calculations ). But a significant portion of the market remains in 4.0% territory. Best-Execution is very much on a fence between the two rates after today's improvements. Apart from the slightly more favorable rate environment, little has changed between yesterday and today. Since Best-Execution is by no means firmly back to 3.875%, the question remains whether or not this will prove to be a brief foray...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Freddie Mac: Economy on Slow, Steady, Path to Recovery	2/22/2012 2:40 PM
Posted To: MND NewsWire In the February Economic Outlook from Freddie Mac's Office of the Chief Economist is projecting a slow, steady path to recovery as the economy, it says, continues to build on the momentum it displayed at the end of last year. The report cites 243,000 new jobs in January, an unemployment rate falling to 8.3 percent and an increase in job openings to 3.4 million in December as indications of improvement. At the same time, there was a relatively low level of 2 million "voluntary separations," i.e. people quitting their jobs, that reflects a nervousness about the job market and a 1.2 percent drop in inflation-adjusted hourly wages, the steepest annual fall since 1989, also signaling job market weakness. The housing sector portion of the Freddie Mac report was a summary of information for the month...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
A Call to Action - FHFA’s Strategic Plan for Fannie Mae and Freddie Mac	2/22/2012 1:47 PM
Posted To: Voice of Housing Yesterday the Federal Housing Finance Agency (FHFA) issued to Congress its Strategic Plan for Fannie Mae and Freddie Mac Conservatorships. Acting Director DeMarco and FHFA staff are to be soundly commended for their work in developing and publishing the Plan. The Plan is equally thoughtful and provocative and represents an essential next step in the continuing efforts to resolve the nation’s housing crisis. For example, the Plan acknowledges the critical importance of the technical and business infrastructures currently maintained and managed by the GSEs and without which the effective function of secondary market securitizations would be impossible. Likewise, the Plan notes the critical role of both GSEs in the nation’s continuing efforts to resolve the foreclosure crisis and maintain...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS, Treasuries Extend Gains, Giving Pause to Technical Gloom	2/22/2012 12:56 PM
Posted To: MBS Commentary From a technical standpoint, the past few sessions have been a fairly gloomy scene for MBS and Treasuries--our two representatives from those camps being Fannie 3.5 30yr Fixed MBS and good old 10yr Treasury Notes. The technical gloominess should be fairly evident in the upper sections of each chart below. In short, both MBS and 10's had moved weaker beyond the limits of long-term trend channels and were at risk of breaking beyond horizontal levels as well. For Fannie 3.5's, the first major break of a horizontal level at 103-10 was seen Friday on an intraday basis, but prices made it back by the end of the day. Yesterday's trading suggested the breakout more firmly as prices fell to the next major pivot around 103-00. It was (and still is) up to today's price action to reiterate or refute that...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
NAR: Existing Home Sales and Inventories Improved in January	2/22/2012 11:26 AM
Posted To: MND NewsWire There was more good news from the National Association of Realtors® (NAR) on Wednesday as they reported that the sales of existing homes rose in January, marking three months out of the last four where sales improved. Inventories of homes for sale were also improved and NAR disputed the need for a program to rent foreclosed properties Total sales of existing homes including single family houses, condominiums, and cooperative apartments, increased 4.3 percent to an annual, seasonally adjusted rate of 4.57 million units during the month compared to a downward revised rate of 4.38 million in December and are 0.7 percent above what NAR described as a "spike" in the rate in January 2011. December 2011 sales were originally estimated at a rate of 4.61 million. The median price of all property...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MERS Has Second Court Win in Month	2/22/2012 10:39 AM
Posted To: MND NewsWire For the second time in just under a month the Mortgage Electronic Registration System ( MERS ) has won a significant court victory. The company which serves as registration agent for major mortgage lenders is currently involved in multiple lawsuits throughout the country. It prevailed in one of these suits, a case filed the U.S. Court for the Western District of Kentucky on Tuesday when Christian County Clerk, by and through its County Clerk, Michael Kem; et al. v MERS; et al. was dismissed with prejudice. The county clerks had sued MERS and a group of MERS members under provisions of the Kentucky laws regarding the recording of deeds. The Plaintiffs asserted, on behalf of all of the state's County Clerks that MERS had violated the statutes in order to avoid recording mortgages and paying the...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Inspector General Looks at GSE's as Legal Costs Pass $100 Million	2/22/2012 10:36 AM
Posted To: MND NewsWire Both before and after they were placed into conservatorship the two government sponsored enterprises Fannie Mae and Freddie Mac (the Enterprises) spent large amounts of money to defend themselves and former senior executives in class action lawsuits and other legal matters. For example, in cases arising out of alleged accounting malpractices in the 2004 to 2006 period, Fannie Mae has advanced $99.4 million for the legal defense of three of its former senior executives. Furthermore, $37 million of those funds have been advanced since the conservatorship began and hence were taxpayer funds and Freddie Mac has paid $10.2 million in legal defense costs for former senior executives since it was placed in conservatorship. In both post-conservator instances the Federal Housing Finance Administration...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS MID-DAY: 2/22/2012	2/22/2012 10:20 AM
Posted To: MBS Commentary MBS Live : MBS MID-DAY Open MBS Live Dashboard FNMA 3.5 103-05 : +0-06 FNMA 4.0 105-03 : +0-03 FNMA 4.5 106-16 : +0-02 FNMA 5.0 107-31 : +0-02 GNMA 3.5 104-20 : +0-06 GNMA 4.0 107-18 : +0-03 GNMA 4.5 109-01 : +0-04 GNMA 5.0 110-27 : +0-02 FHLMC 3.5 102-29 : +0-05 FHLMC 4.0 104-23 : +0-03 FHLMC 4.5 106-02 : +0-03 FHLMC 5.0 107-19 : +0-02 Pricing as of 11:00 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 10:04AM : Existing-Home Sales Rise Again in January, Inventory Down - NAR Existing-home sales rose in January, marking three gains in the past four months, while inventories continued to improve, according to the National Association of Realtors®. Total existing-home sales1, which are completed transactions that...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Mortgage News

Real Estate News