Janet Yellen was confirmed by the U.S. Senate as the country’s 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus pandemic.
Today’s mortgage and refinance rates Average mortgage rates were unchanged yesterday, as expected. So they remain exceptionally low, though a bit above the record. There may be literal fireworks over […]
Fannie Mae and Freddie Mac’s 0.5% refinance fee is delayed until December 1. But to avoid the fee and higher refinance rates, you need to apply sooner than that.
Posted To: Mortgage Rate Watch
What’s a bond market rally and why should mortgage rates care? There are all kinds of bonds. US Treasuries would be the quintessential example, but there are also bonds specific to the mortgage market. These are what groups of loans ultimately become in order to be traded on the open market (thus allowing lenders to make more loans with less risk and lower rates). As investors buy and sell bonds throughout the day, bond prices change. The higher the price, the lower the implied interest rate. Simply put, if bonds are rallying, rates should be falling shortly thereafter. The 10yr Treasury yield is typically an excellent barometer for mortgage rate movement. 10yr Treasuries and mortgage-backed bonds tend to correlate extremely well. As such, we might expect a more significant improvement in mortgage…(read more)
Mortgage rates hit all-time lows The Washington Post
Various federal, state and local laws, in addition, to investor specific product requirements, dictate the documentation required for a complete mortgage loan file. Mortgage industry investors tend to group mortgage loan documents into two broad categories …….
Today’s mortgage and refinance rates Average mortgage rates fell yesterday. And suddenly they’re back within their uberlow range. Indeed, one more drop like yesterday’s and they’ll be at their all-time […]
Thanks to a new policy, FHA is now accepting DACA home loans. Learn about the pros and cons of FHA loans and whether you qualify for financing.
Posted To: MBS Commentary
Uneventful Start This Week; Next Move Remains Debatable Bonds began the day in weaker territory but rallied back to nearly unchanged levels after several comments from inbound Treasury Secretary Janet Yellen. Of particular note were Yellen's comments on the possibility of repealing certain tax cuts as well as the need to get the federal budget on a more sustainable path. Both of those bode well (or "better," anyway) for Treasury issuance vs demand. The econ calendar was silent and other market moving headlines were scarce. Traders are waiting for the next major cue that settles the debate between keeping the broader negative trend intact or riding the recent positive correction back to lower-yield technical boundaries. Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am…(read more)
List your home at the right time, and it could sell faster and at a higher price.