Volume figures to be light on Wall Street today as traders get a head start on Labor Day weekend.  It could make shopping for a mortgage a bona fide challenge. Expect rate volatility this morning and afternoon and, therefore, by extension, expect wild swings in the Home Affordability Index. As mortgage...

Mortgage markets finished the week unchanged last week but don’t let that make you think the markets were flat.  It was a bumpy five days and rates were volatile.  Friday was the worst day of the week by far. An all-day deterioration, sparked by better-than-expected housing data, caused mortgage...

The Federal Reserve adjourned from its two-day meeting this afternoon.  It’s one of 8 scheduled meetings each year for the Federal Open Market Committee. Although the FED announced to keep the FED Funds target unchanged, MBS gave up ground with the 30 YR FNMA 4.0% pulling back 22bp.  Mortgage...

Monday April 27, 2009 was a great way to start the week, as the FNMA 30 YR 4.0% MBS posted a healthy 18bp improvement today.  If the past 4 weeks dictate the future, mortgage rates will start and end the week essentially unchanged. For active home buyers who have yet to find the “right home”,...

Mortgage Rates regained their footing today as the 30 YR 4.0% FNMA MBS closed 9bp higher for the day.  If last week was the precursor to this week, we will see rate improve and stabilize Monday – Wednesday and turn negative Thursday – Friday. Mortgage rates ended last week exactly where they started. ...

The first week of April 2009 is one more week for the economic history book. This week marked the easing of Mark to Market accounting and a potential end to the economic recession.  Friday Mortgage Backed Securities took it on the chin for the second day in a row.  The FNMA 30 YR 4.0% gave up another...

Today FASB announced its decision in favor of relaxing standards on mark-to-market accounting rules.  As discussed in yesterdays post it was speculated that the equity markets would favor relaxed standards and the bond market may not.  This speculation came to fruition as we saw the DOW post a gain...

Mortgage Rates improved by 1/8 today after the FNMA 30 YR 4.5% MBS posted .0625bp gain.  More Obama action pushed the overall financial markets down today. REAL TIME Mortgage Rates Our current recession has been thus far called ”housing-led” and was predicted to last several years.  Last...

The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today, within the target range of 0.000-0.250 percent.  This doesn’t mean the Fed stood pat, however. On plan to resurrect the economy using “all available tools”, today, the Fed announced a new, $1.5 trillion...

Mortgage Rates started the week in a positive manner improving as MBS posted a 31pb gain.  See Monday March 2, 2009 Mortgage Rates.  The DOW on the other hand started the month like a lamb, to date the DOW is down 22.9% . Wednesday, the White House is expected to release the details of the Homeowner...