What is amortization? How a mortgage amortization schedule works
Mortgage amortization is the process of paying down your home loan. Your amortization schedule affects your payments, home equity, and payoff date.
Mortgage amortization is the process of paying down your home loan. Your amortization schedule affects your payments, home equity, and payoff date.
Posted To: MBS Commentary
Fairly Balanced Day For Bonds and Fairly Balanced Outlook For Now This morning's commentary discusses the two "teams" facing off for control of interest rate momentum: Team "Rising Rates" versus Team "Not So Fast." Rising rates have been winning out since August (at least if you ask Treasury yields), but that may change if the economic recovery stalls. Today's ISM numbers were weaker than forecast, but at 58.7 (anything over 50 = growth), not quite weak enough to convince bonds of an imminent stall. Yields stayed sideways near unchanged levels. The labor market data later in the week should be even more closely watched. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm ISM Manufacturing 58.7 vs 60.0 f'cast, 60.5 prev ISM Prices 82.1 vs 77.0 f'cast…(read more)
Mortgage servicers received less complaints at the Consumer Financial Protection Bureau in the fourth quarter of 2020. But for the year, complaints were up. And this follows a promise from the CFPB that it would be keeping a closer watch on the sector.
The post IMF: CFPB mortgage servicer complaints drop in Q4 appeared first on HousingWire.
Most in the business media world have been watching the GameStop story evolve in the past few days. The (somewhat simplified) David vs Goliath narrative of coordinated retail investors organizing online to bring down multi-billion-dollar hedge funds is hard to look away from. One of the many underlying stories of this improbable rise, and more … [Read more…]
Today’s mortgage and refinance rates Average mortgage rates rose last Friday, bouncing back after Wednesday’s all-time low. Of course, these rates are still extraordinarily low. But the latest rises suggest […]
Posted To: MBS Commentary
Between Friday and Monday, it looked like the bond market might try to hold at slightly better levels than those implied by the recent bounce at 1.0% in 10yr yields. Apart from being a nice round number, the psychological pivot point at 1.0% happened to coincide with the lower boundary of the trend channel we've been tracking for months. Granted, such trends do nothing to predict every little movement, but they do suggest a general area for support and resistance. In the worst case , the current trend puts the ceiling at 1.20 to 1.25% in the short term, but other pivot points could step in to help before things get that bad. Pictures are worth more words in this case. The yellow lines show the prevailing trend channel with the "worst case" upper resistance area at 1.20-1.25. As…(read more)
Civic claimed to have originated more than $1 billion in 2020 as investors looked for new opportunities amid historically low interest rates.
The post PacWest Bancorp acquires non-QM lender Civic appeared first on HousingWire.
Tech-driven servicing firm Valon has closed $50 million in series A funding, while also obtaining approval from Fannie Mae to service its government sponsored home loans. For the company’s CEO Andrew Wang (pictured), the announcement serves as a double validation of Valon’s business model, which relies on proprietary technology developed in-house by the firm. Now … [Read more…]
Mortgage Rates were steady to slightly lower yesterday even though prevailing trends in the bond market suggested caution. Today’s trading is a different story. Granted, there haven’t been any huge, dramatic moves, but today’s bond market weakness adds a bit of evidence for a more cautious approach. In general, rates are biding their time in a low, narrow range (just slightly higher than the all-time low range seen at the end of 2020) before making their next big move. That “next move” is to-be-determined. It will take guidance from things like economic data, fiscal stimulus, major covid-related news, and even the stock market. The average mortgage lender is generally offering the same rates as yesterday, but with modestly higher upfront costs (or lower lender credits). The range for purchases
Posted To: MND NewsWire
New homes sales managed a small increase in December following three months of losses including a substantial downturn in November. The U.S. Census Bureau and the Department of Housing and Urban Development reported that sales of newly built homes were at a seasonally adjusted annual rate of 842,000 units. This is a 1.6 percent increase from the downward revision of the November estimate. The revision downgraded those sales from an annual rate of 841,000, a 11.0 percent decline, to 829,000. The December rate of sales represents 15.2 percent year-over-year growth. Analysts had expected a better recovery from the November loss. Those polled by Econoday had predicted sales would be in the range of 822,000 to 934,000. Their consensus was 871,000 units. On a non-adjusted basis there were 55,000…(read more)