Mortgage News
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Explaining The MBS Settlement Process
Posted To: MBS Commentary 10yr Notes progressively improved into the PM , ending 5 ticks better on the day with a yield of 3.70. MBS fought off much of the AM weakness in tsy's, and rallied just as well into the PM, reaching 101-15 at 4pm. But then we ended 4 ticks down on the day at 101-01! WHAT?!?!? So you're tellin' me MBS effectively erased all gains from the past two days?! Not exactly... I'll let AQ explain... -------------------------------------------- If you haven't read the following description of the agency MBS settlement process...please don't skip over it as it may save you from having to change your pants when next month's settlement rolls around. If you have read it...go over it one more time just to make sure the underlying logic is clear. The March FN 4.5 MBS coupon has...( read more) 
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Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings
Posted To: MND NewsWire Commercial and multifamily mortgages continue to have the lowest rates of charge-offs of any loan types at banks and thrifts and perform better than the overall loan portfolios at those institutions according to the Mortgage Bankers Association (MBA). In response to what it referred to as a great deal of discussion and conjecture about those loans in recent months, MBA updated an earlier " DataNote " analysis of commercial and multifamily mortgage data from the 4th quarter of 2008 with data from the same period in 2009. The report states that 56 percent of the assets held by banks and thrifts at the end of 2009 consisted of loans and leases, a category that includes 1-4 family mortgages, home equity loans, credit cards and other consumer loans, commercial mortgages, multifamily mortgages...( read more) 
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Mortgage News -
Newsflash
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Written by Jeff
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Thursday, 11 February 2010 16:49 |
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 How would you like to get an email each day showing you current mortgage rates? My Rate Alert Service does just that - just click to sign up and begin tracking mortgage rates by email.
The service is free & can be cancelled at any time.
Here's a sample: Sample Newsletter |
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Jeff's Blog -
Jeff's Blog
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Written by Jeff
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Tuesday, 26 January 2010 22:08 |
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Existing home sales plunged a record 16.7% in December to an annualized pace of 5.45 million. The large decline followed several months of strong sales gains that were primarily driven by the first time homebuyer tax credit which was originally slated to expire on November 30. The tax credit has since been extended and expanded but not before impacting sales immediately afterward in December. Despite the sharp decline in December, total sales are still 15.0% above their year ago level.
Our existing home sales report is here SALES SWOON, INVENTORIES DROP, PRICES RISE
For all of 2009, sales increased over 5% from 2008, their first annual gain since 2005. Home prices increased over the last year with median prices up 1.5% to $178,300 and average prices gaining 3.6% to $225,400. |
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Jeff's Blog -
Jeff's Blog
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Written by Jeff
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Monday, 25 January 2010 07:20 |
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Our report on December Housing Starts is posted - Declining Again.
New residential construction starts declined 4.0% in December to an annual rate of 557k after an upwardly revised gain of 10.7% in November to a rate of 580k. November’s rebound proved short-lived as homebuilders continued to cut back on new starts amid a spotty economic recovery and a large number of distressed properties moving through the market. In a reversal of recent trend, it was a decline in single-family starts that led overall starts lower. Single-family housing starts dropped 6.9% last month to an annual rate of 456k, which is 5.5% higher than single family starts this time last year but still a stunning 73.6% below their January 2006 peak.
Here is the Census Bureau report on housing Permits, Starts and Completions.
Here is the take from Calculated Risk: Housing Starts Decline in December. |
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Jeff's Blog -
Jeff's Blog
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Written by Jeff
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Sunday, 10 January 2010 16:11 |
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I've finally updated the website with January's Newsletters. The links are shown below: Feel free to print or download the newsletters and share them with clients and/or friends. My complete database of newsletters for the past 3 years is available - just click on the Newsletters tab above.
January Real Estate Trends - Current real estate and financial news
January Real Estate Page - Extended & Expanded Tax Credit - Full Q&A on the newly expanded and extended Homebuyer Tax Credit.
January Sales Update - Marketing the Tax Credit - For Real Estate Professionals an overview of marketing the Tax Credit |
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