At least one thing is back to normal in the mortgage markets — it’s no longer cheaper to go with a fixed rate mortgage than an ARM. As reported by Freddie Mac, a conforming 5-year ARM is priced a half-percent lower than a comparable 30-year fixed. Earlier this year, the pricing was reversed. It’s...

Mortgage Backed Securities (FNMA 4.5% 30YR) gave up little ground this week shedding only 9bp.  Although you wouldn’t think that if you read all the “Increase in Mortgage Rate” Tweets, in reality Mortgage Rates ended the week where they started.  To view real time rates check my Real Time Mortgage...

Home values around the country appear to be leveling. The Federal Housing Finance Agency’s latest Home Price Index report shows values up by nearly 1 percent in May versus the month prior. Since peaking in April 2007, values remain off by 11 percent nationwide. The FHFA Home Price Index is an...

Another positive week for Mortgage Rates. The Benchmark FNMA 30 YR 5% posted a positive 28bp improvement overall this week.  The newfound lack of confidence in the U.S. recovery coupled with the Geopolitical landscape are contributing factors to the resurgence in lower rates.  Fridays close is a positive...

To: All Mortgage Brokers, Real Estate Agents, Appraisers, Lenders, Home Builders, Title Agents, and Consumers From: Marc Savitt, President- National Association of Mortgage Brokers After more than a year of exhaustive negotiations with Fannie Mae, Freddie Mac, James Lockhart, Director of FHFA (GSE Regulator),...

Not much to say except is it over yet? As my colleges would say “Stop Being Chicken Little” although this time I might be right? Over the last eight (8) days MBS have been getting there you know what handed to them.  This does not translate good for consumer Mortgage Rates. End of market pricing...

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 ended the week of April 24, 2009 lower.  The MBS FNMA 30 YR 4.0% finished up 21bp higher for the week (higher is better for the MBS, price and interest are inverse).  The historically low rates for both conforming and FHA products are intended to help stimulate the economy by giving...

Mortgage Rates April 22, 2009 Rates remained stable today although the Mortgage Backed Security (FNMA 30 YR 4%) which dictates the price of rates closed negative for a second day.  Overall rates are trending in the 4.5% to 4.875% range.  The sustained range is much more palatable then the volatility...

As I have said before and will say again, we are witnessing Historical LOW Mortgage Rates.  We may never see rates this low again, or at least for a very long time.  If that is not enough encouragement consider the following: An $8,000 Tax Credit FHA only requires 3.5% down payment Home Values are...