For several sessions in a row, Mortgages Rates have moved in the opposite direction from the previous session, although even the bigger examples of these movements haven't been enough to nudge 3.875% out of the "best-execution" position. The same back-and-forth movement continued t...Read More
For several sessions in a row, Mortgages Rates have moved in the opposite direction from the previous session, although even the bigger examples of these movements haven't been enough to nudge 3.875% out of the "best-execution" position. The same back-and-forth movement continued t...Read More
One of the financial institutions that are party to the reported settlement agreement with the attorneys general of the majority of the states is reportedly on the auction block. According to Bloomberg News, Ally Financial is talking with private equity firms about selling its mortgage unit, Reside...Read More
After the 10yr auction, production MBS and the long end of the yield curve didn't move much at first. But it now seems that some additional bid for the 10yr was on hold until after the Fed's Scheduled selling that ended at 2pm. As that was wrapping up, 10's made another move lower ...Read More
According to CoreLogic, the Santa Ana California based provider of information and business services, there were a total of 830,000 foreclosures nationwide in 2011 compared to 1.1 million in 2010. The most recent monthly numbers, for December 2011, were down from foreclosures both a month earlier a...Read More
What, exactly, qualifies a person as "rich"? It depends who you are - here in the States the wealth of the top 1% is about 225 times greater than that of the typical family, compared to 125 times in 1962, and the cumulative wealth of the Forbes 400 was $1.54 trillion...Read More
Mortgage rates broke another set of records during the week ended February 3, establishing several new historic lows. In response, the seasonally adjusted Mortgage Bankers Association's (MBA) Market Composite Index, a measure of mortgage application volume , rose 7.5 percent and 8.7 percent on an u...Read More
The theme of light economic data continues on Wednesday with MBA Mortgage Apps being the only item of note. Even then, it's only notable due to it's pertinence to our industry and is not a market mover. Both the refi and purchase indexes snapped 3 week losing streaks with the Purch...Read More
