Mortgage Rates April 7, 2009

Mortgage Rates remained stable today.  Another calm day thanks to the down day in the stock market, the down day can be attributed the beginning of Earnings Season.  A negative Earnings season although bad for the overall market and shareholders, could buoyed well for Mortgage Backed Securities and...

Mortgage Rate Week Review April 3, 2009

The first week of April 2009 is one more week for the economic history book. This week marked the easing of Mark to Market accounting and a potential end to the economic recession.  Friday Mortgage Backed Securities took it on the chin for the second day in a row.  The FNMA 30 YR 4.0% gave up another .41bp...

The Ice Just Broke – Credit Crisis Starting To Thaw, 4% Mortgage Rates?

The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged today, within the target range of 0.000-0.250 percent.  This doesn’t mean the Fed stood pat, however. On plan to resurrect the economy using “all available tools”, today, the Fed announced a new, $1.5 trillion...

2009 New Loan Limits “High Cost” Areas

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...

Mortgage Rates February 17, 2009

Today was a surprise day for Mortgage Backed Securities; many prognosticators thought for sure we would see MBS plummet and start pushing Mortgage Rates towards 6% , with the signing of Obama’s Economic Stimulus.  The MBS (FNMA 30 YR 4.5%) acted in contrarian nature and posted a whopping 50pb...