Mortgage Rate Forecast June 1, 2009 (Chart)

June 1, 2009 started as another brutal day in the Mortgage Market. On top of the negative bankruptcy news for GM Mortgage Rates increased after a nice head fake last Thursday and Friday.  After reaching as low as 4.375% on a 30 YR in May. Mortgage Rates came in like a lamb and left like a lion (see May 2009...

Mortgage Rates May 11, 2009 – Weekly Forecast

What a GREAT way to start the week.  After a horrible Thursday and Friday last week, the FNAM 30 YR 4.0% regained majority of its losses in today. The MBS closed higher by 50bp, translating into .25%-.375% depending on which rate sheets you or your lender was pricing off.   Mortgage Rates May 11, 2009....

B of A rebranding Countrywide = Lipstick on a Pig

They might be rebranding there name, although I am sure all the inexperienced and shady Loan officers from Country Wide will still be working their loans! This is the TRUE meaning of Lipstick on a Pig!  It is sad how BIG Marketing dollars can convince millions that you have a great Knowledgeable...

What Is A Reverse Mortgages

With reverse mortgages seniors now have some additional cash-flow alternatives. This type of loan allows mature borrowers to convert their home equity into tax-free income without leaving their current home or making mortgage payments – and they do not need an existing income to qualify. How does a...

Mortgage Rates April 17, 2009 – Mortgage Week In Review

Mortgage Rates increased April 17, for a second day as MBS posted another day of losses.  Week over week rates are posted a 10bp improvement.  Although there was 3bp improvement lenders sill took advantage of the decline in MBS and increased Mortgage Rates. Overall rates remain low for the time being,...