Mortgages Rates continued their march into better territory today, capping a 3 day effort of improvement following Wednesday's FOMC Announcement. At this point, rates have not only solidified their re-entry into 3.875% Best-Execution levels, but some lenders are once again competit...Read More
The formation of the Residential Mortgage-Backed Securities Working Group tasked with investigating mortgage fraud is now official. The new office, which will be part of the Administrations Financial Fraud Enforcement Task Force (FFETF) was first announced by President Obama in his State of the Uni...Read More
The trading day is rapidly growing uneventful and charts suggest that quite a few market participants already have one or more feet out the door for the weekend. The only real pop of volume and volatility was seen around this morning's GDP report, which was generally a mild boon to...Read More
The Lender Processing Services (LPS) Mortgage Monitor Report for December show improvement in a number of the metrics it tracks. Many measures of delinquency rates are down, inventories are clearing in some states, and recent loan originations are "among the best quality on record." The overall del...Read More
Economists calculate that the decline in home prices has cost American homeowners approximately $7 trillion in home equity. Compounding this problem is the fact that the inventory of homes available for sale remains high and there is potential for a significant vo...Read More
"The trouble with quotes on the internet is that it's difficult to determine whether or not they are genuine." So said Abraham Lincoln. But here is one I received yesterday from Steve S., the president of Residential Mortgage Group in Minnesota: "In thinking about th...Read More
Volume in the overnight session was just under recent averages but respectable overall. 10yr Treasuries rose as high as 1.9681 after a relatively strong Italian debt auction. Beyond that, there was no major driver of trade as it seems bond markets have opted to shy away from overly...Read More
