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...

The flight to security was nonexistent for Mortgage Backed Securities before the long Holiday Weekend.   Mortgage Rates increased today as the FNMA 4% 30 YR MBS gave up .25bp.  Overall MBS are only down 3bp week over week (See Mortgage Rate Chart) The equity markets rallied and hitched a ride on Wells...

Fannie and Freddie have officially announced and launched Making Home Affordable Plan Program! Making Home Affordable program “looks the other way” with respect to falling home values, approving mortgage applications based on borrower payment history and benefit to the homeowner. Not every...

Image via Wikipedia Thursday morning April 2, homeowners in different parts of the country awoke to find similar-sounding newspaper headlines: Rates on 30-year mortgages sink to 4.78%, a new low (LA Times) Mortgage rates at record low for 2nd week (Miami Herald) Mortgages hit another record low...

When the White House first introduced the Making Home Affordable program in February, it was positioned as a mortgage program with two goals: To help financially-needy homeowners get mortgage relief To help homeowners who’ve lose equity qualify for today’s low rates Wednesday, in a much-anticipated...

As part of the stimulus package passed last week, Congress authorized a temporary increase to conforming loan limits in certain high-cost parts of the country. “High cost” is defined by a regions’ median sales price. With the temporary increase, a greater share of Americans can now...

Another down week in the Mortgage Backed Security Market, the FNMA 30 YR 4.5% gave up 56bp, which is roughly .375% in Mortgage Rates. The FED continued it MBS Purchase Program, acquiring $24.99BN this week.  The total is now $160.33BN of the allocated $500BN.  The program is set to run until this...