Notice was delivered from Washington on March 9 that the funds are nearly exhausted, with expectations that they will run out in late April. Unlike years past when similar notifications have been delivered, the USDA will not be issuing conditional commitments for buyers as the program awaits new appropriations...

The market has twenty trading sessions before the cessation of the MBS purchase program.  Traders believe that mortgage rates should increase, most noticeably in the lower coupon, current production area. At this point, besides the Fed, traders are not seeing much buying outside of some hedge funds...

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...

Mortgage Backed Securities slipped roughly .25bp (FNMA 30 YR 4.5%) today which translates into 1/8 decline in Consumer July 2009 Mortgage Rates. The small movement can be attributed the triple digit move in the DOW thanks to Financials. This week, rates should be in flux with traders watching 3 things. The...

Hopefully rates do not follow the trend of Monday.  Mortgage Backed Securities shed roughly 31bp which translates into an increase in consumer Mortgage rates. This week, there isn’t much data to watch and, because of Memorial Day, trading will be very light towards Thursday and Friday. It’s...

WOW! Another great day in the Mortgage Rate world rates have bucked the 4 week trend of improving Monday – Tuesday only to worsen Wednesday – Friday. Rates have continued to gain market share each day this week.  See Par pricing for a 30 YR. Price your Loan. If you like what you see contact me. Real...

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...

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. ...

Mortgage Rates ended the day without a change, after an early afternoon scare.  Rates worsened earlier today as the FNMA 30 YR 4% MBS fell 21bp.  Rates stabilized as the MBS regained its foothold to close the day where it opened.  In other Real Estate news Obama’s Loan Modification program is now...

Mortgage Rates for April 8, 2009 remained relatively unchanged given the .53bp swing in Mortgage Backed Securities.  With earnings season underway Fixed Income securities should tend to be the benefactor as investors migrate towards a safer haven.  With that said we should see stability on the Daily...