Once again, the country’s foreclosures are concentrated in just a few states. As reported by foreclosure-tracking company RealtyTrac.com, more than 50 percent of the country’s foreclosure-related actions in August occurred in just four states: * California : 25.76 percent * Florida : 17.4...

Foreclosure-tracker RealtyTrac reports that the number of foreclosures nationwide rose 7 percent on a month-to-month basis last month. However, 3 states dominated the foreclosure list, tallying more foreclosures between them than the rest of the country combined. California : 30.0 percent Florida :...

Image by Getty Images via Daylife For the fourth consecutive month, the country’s foreclosure activity was dominated by a small number of states. As reported by RealtyTrac.com, more than 50 percent of the country’s foreclosure-related actions in June concentrated in just 3 states: California Florida Nevada The states...

The first week of May is officially over, and Mortgage backed securities once again sold off at the end of the week giving up a total of 30bp this week (FNMA 30 YR 4% Chart). The selloff pushed Mortgage Rates higher for the first week of May. May 2009 Mortgage Rates. This week we saw the economy shed...

Mortgage Rates increased today as the FNMA 30 YR MBS 4% gave up roughly 9bp.  This down tick in the MBS can be attributed to the late day mini rally in the equities market as JP Morgan Chase beats estimates as it releases earnings. Both Building Permits and Housing Starts were released today.  Building...

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...

Today Mortgage Rates ended where they started.  Prior to Obama’s Foreclosure Plan speech  MBS reached their worst, which I am confident, put lenders fingers on the trigger.  During the speech the majority of the losses were recouped.  Overall we did see a good amount of action in the MBS today,...

Tax Credit for Homebuyers First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit.  Remember a tax credit is very different than a tax deduction – a tax credit is equivalent...

The week started out in a positive manner with rates improving both Monday and Tuesday, only to stall out on Wednesday and give back the majority of the gains Thursday and Friday. Mortgage Backed Securities ended the week with only a slight 3bp gain over last week. Friday we saw MBS give up -28bp (FNMA...

Fannie Mae rolled-back one of its least popular mortgage guidelines updates of the last 12 months. Effective March 1, 2009, real estate investors can once again own and finance up to 10 individual properties. The restriction reversal does come with new minimum requirements, however. Homeowners buying...