USDA Rural Home Loans Drying Up

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...

Brace For High Rates MBS Purchase Program Ending Soon!

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 and...

Mortgage Rate Forecast Week of August 24, 2009 (Chart)

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 Rates – Weekly Forecast July 13, 2009

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...

Mortgage Rates May 18, 2009 – Weekly Forecast

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...