Archive for February, 2011
MBS RECAP: Tight Range All Day
Posted by: | CommentsPosted To: MBS Commentary
MBSonMND : MBS RECAP Open MBSonMND Dashboard FNMA 3.5 94-15 : -0-01 FNMA 4.0 98-19 : +0-02 FNMA 4.5 101-29 : +0-02 FNMA 5.0 104-23 : +0-03 GNMA 3.5 95-08 : -0-02 GNMA 4.0 100-01 : +0-01 GNMA 4.5 103-06 : +0-01 GNMA 5.0 106-05 : +0-03 FHLMC 3.5 94-10 : -0-01 FHLMC 4.0 98-14 : +0-02 FHLMC 4.5 101-26 : +0-03 FHLMC 5.0 104-19 : +0-02 Pricing as of 4:02 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBSonMND Dashboard . 3:38PM : Loan Pricing Update: 2/28/2011 Among the five major lenders, C30 loan improved on average 11.5bps today. 25bp+ gains were seen on the note rates at or below 4.75%. The 4.875 to 4.75% permanent buydown cost are is still viewed as unattractive in most scenarios. 3:32PM : Right Back To Prevailing Levels Of the…(read more)
Mortgage Rates: Flight to Safety Put to Test
Posted by: | CommentsPosted To: Mortgage Rate Watch
This week begins with mortgage rates holding onto recent improvements. Last week, we discussed how a “flight to safety” helped drive up investor demand for bonds, which ultimately led to lower mortgage rates. The Best Execution conventional 30-year fixed rate moved down twice during the week. READ MORE. SEE CHART CURRENT MARKET : The “Best Execution” conventional 30 year fixed mortgage rate has fallen to 4.875%. For those looking to buy down their rate to 4.75%, this quote carries higher closing costs. The upfront cost of permanently buying down your rate to 4.75% is not worth it to many applicants. We would generally advise the permanent floatdown if you plan to hold your new mortgage for longer than the next 10 years. Ask your loan officer to run a breakeven analysis on any origination points…(read more)
Pending Home Sales Basically Flat in January. Rent or Own?
Posted by: | CommentsPosted To: MND NewsWire
The National Association of Realtors today released the Pending Home Sales Index for January. The Pending Home Sales index measures housing contract activity. It is based on signed real estate contracts for existing single-family homes, condos and co-ops. A signed contract is not counted as a sale until the transaction closes. Instead, when a seller accepts a sales contract on a property, it is recorded into a Multiple Listing Service (MLS) as a “pending home sale.” Once that transaction settles it becomes an Existing Home Sale. The majority of pending home sales become Existing Home Sales transactions, typically one to two-months later. Since pending home sales measure actual existing-home sales, the PHSI provides an accurate and reliable indicator of future home sales activity…(read more)