Archive | Daily Mortgage Updates RSS feed for this section

Hooked on Some Easing

Written by: - November 12, 2010

Comments Off on Hooked on Some Easing

12 November 2010 – Since this week was much like the last few, I figured that would spice things up with a musical interlude. Because I cannot sing well enough to do this justice, I would ask that you use some good imagination. Hooked on Some Easing (Sung to Hooked on a Feeling) buy real […]

Continue reading...

Rates End The Week Lower As Market Digests FOMC Announcement

Written by: - November 5, 2010

2 Comments

5 November 2010 – The past week was an exciting one. First, there were the mid-term elections with all of the drama of a Mexican soap opera and the negativity of homeless curmudgeon yelling at you on an El platform. This, however, paled in comparison to the much anticipated announcement of QE or quantitative easing […]

Continue reading...

Mortgage Pricing Ticks Up Slightly on Positive Housing and Employment Data

Written by: - October 29, 2010

1 Comment

29 Oct 2010 – The past week once again gave me pause as to the duality of my job. Pricing for Fannie Mae and Freddie Mac mortgage loans increased slightly over the prior week. For that, I shed a tear, since this can put some drag on the very robust refinance market. This movement, however, […]

Continue reading...

Bank of America Concerns Drive Rates Down, But Promising Housing Starts and Encouraging Earnings Reports Shorten The Rate Rally

Written by: - October 22, 2010

Comments Off on Bank of America Concerns Drive Rates Down, But Promising Housing Starts and Encouraging Earnings Reports Shorten The Rate Rally

22 October 2010 –As I began writing this week’s commentary, I realized I had exhausted my analogies for the ebb and flow of rates we have seen over the past months. That is until I thought back over the years to my Junior Year at West Point standing in a platform above a Long Island […]

Continue reading...

Cost for Mortgages Rise Mildly Possibly Signaling End of Record Lows

Written by: - October 15, 2010

Comments Off on Cost for Mortgages Rise Mildly Possibly Signaling End of Record Lows

15 October 2010 – The cost of mortgages took a minor beating this week after several days of favorable movement. You will notice that I refer to cost as opposed to rate. This is because rates moved little if at all, but rather the points required to secure the best rates increased and available surplus […]

Continue reading...

Mortgage Rates Dip to New Lows

Written by: - October 8, 2010

Comments Off on Mortgage Rates Dip to New Lows

08 October 2010 – October surely has started out with a bang. This not the bang that you get when you light a firecracker and sit with anticipation of the inevitable glorious explosion. No, this is more like the unexpected bang that you get when someone secretly lights a firecracker under your chair. In short, […]

Continue reading...

Another Up Down Week in the Market Ends with Mortgage Rates Up a Bit

Written by: - October 1, 2010

Comments Off on Another Up Down Week in the Market Ends with Mortgage Rates Up a Bit

01 October 2010 – For a week chock full of economic data, the trends this week generally matched those of the previous weeks. Early in the week, low numbers for consumer confidence brought rates to near record lows again for a short time, but this passed and positive news on consumer spending and unemployment numbers. […]

Continue reading...

Mortgage Rates Undulate on Fed Policy Statement and Housing Data

Written by: - September 24, 2010

Comments Off on Mortgage Rates Undulate on Fed Policy Statement and Housing Data

24 September 2010 – There is a training aid used for astronauts called the Vomit Comet. It is an airplane that moves on an elliptical path to simulate a weightless environment. In short, it basically moves up and down to keep the occupants in a suspended state. This is the best comparison that I can […]

Continue reading...

Borrowers Rush to Lock Mortgage Rates Over Concerns Bottom Has Passed

Written by: - September 17, 2010

2 Comments

17 September 2010 – This was a hectic week for mortgages, but not necessarily in the rate category. Rates once again skipped along the recent mean but generally ended the week flat. The action was actually on the lender side as demand for Fannie Mae and Freddie Mac refinance loans increased to a fever pitch […]

Continue reading...

Another See-Saw Week in Mortgage Rates

Written by: - September 10, 2010

Comments Off on Another See-Saw Week in Mortgage Rates

10 September 2010 – Since last week’s use of Einstein’s quote was so well received, I thought it appropriate to begin this week’s commentary with a quote from the venerable Yogi Berra. Yogi remarked after seeing back-to-back home runs by Mickey Mantle and Roger Maris that it was “déjà vous all over again.” Such was […]

Continue reading...

Mortgage Rates Hit Historic Lows, But Stall on Equities Rally

Written by: - September 3, 2010

Comments Off on Mortgage Rates Hit Historic Lows, But Stall on Equities Rally

3 September 2010 – Einstein once said, “Put your hand on a hot stove for a minute, and it seems like an hour. Sit with a pretty girl for an hour, and it seems like a minute. THAT’S relativity.” This concept is very important to this commentary as relativity is the guiding principal from which […]

Continue reading...

Continued Negative Housing Data Keeps Mortgage Rates Low

Written by: - August 27, 2010

Comments Off on Continued Negative Housing Data Keeps Mortgage Rates Low

27 August 2010 – For those of you that did not read or heed my post last week, congratulations. You have received a reprieve on low rates. Continued abysmal housing data released this week reinforced the belief that we are far from turning the corner on our current economic woes. Existing home sales dropped by […]

Continue reading...

Mortgage Rates Up for the First Time in Weeks

Written by: - August 20, 2010

Comments Off on Mortgage Rates Up for the First Time in Weeks

20 August 2010 – Well folks, we may have hit the bottom, at least in the short-term that is. Rates ticked a bit lower than last week Monday and Tuesday, but began a mild movement upward by the middle of the week. This slight change was likely less the result of economic factors than the […]

Continue reading...