Mortgages
Tuesday, 01 March 2011 19:16
Posted To:
What are you doing for breakfast tomorrow? It is National Pancake Day (who knew?) and IHOP will be offering a free short stack of IHOP's buttermilk pancakes in an effort to raise awareness and funds for Children's Miracle Network Hospitals and other local charities. Ahead of that you can measure the value of your time waiting in line versus the cost of the pancakes: 7AM-10PM. Only one bank was shut down Friday: Valley Community Bank (IL), and the FDIC, acting as receiver, set up a purchase and assumption agreement with First State Bank , Mendota, Illinois, to assume all of the deposits of Valley Community Bank. Maybe some of those folks should give Peoples Mortgage over in Colorado a call. Owned by Peoples National Bank, Peoples Mortgage is looking for loan officers in Colorado , although the...()Forward this article via email: to someone you know that may want to read it.
Tuesday, 01 March 2011 19:16
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Originally published in the March 2011 issuance of Asset Securitization Report (www.sourcemedia.com) The joint Treasury/HUD report to Congress released this month was a major disappointment to market participants looking for a timely resolution to the status of the GSEs and the future of housing finance. While the white paper claims to lay out “the Administration’s plan to reform America’s housing finance market,” it unfortunately amounts to a set of poorly defined policy options that will likely require years to codify and implement. Moreover, its core assumptions are unrealistic and ultimately border on wishful thinking. While the paper repeatedly and correctly focuses on the need to restore the role of private capital in the housing finance market, its key pronouncements...()Forward this article via email: to someone you know that may want to read it.
Tuesday, 01 March 2011 19:16
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It's a busy week in terms of new economic data and events. Fed Chairman Bernanke will share his semi-annual update on the status of the economy and monetary policy. Markets remain responsive to increasing levels of unrest in the Middle East. Here at home, the White House and Congress have until the end of this week to reach agreement on a federal spending-cut bill for the rest of this fiscal year... or face a partial shutdown of the U.S. government.. Finally, the most important economic data of the week hits Friday morning in the form of the Employment Situation Report. The February Employment Situation Report is the big ticket item on the data calendar. After three months of below expectations payroll growth, economists once again expect a healthy gain in the Establishment Survey side of the...()Forward this article via email: to someone you know that may want to read it.
Read more: The Week Ahead: Jobs, Bernanke, Government Shutdown, Unrest in Middle East
Tuesday, 01 March 2011 19:16
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From yesterday's 5pm going out marks at 101-29, FNCL 4.5's fell as low as 101-18 this morning. But after two decent showings of support, theyv'e gained back more than half of that lost ground and currently sit at 101-25. It's possible that the "itchy trigger finger" lenders out there are considering repricing for the better as a result, but we'd suggest a broader reprice for the better target at 101-28. As you can see in the chart above, the major support for MBS was seen right along the lower end of their recent trend channel. But as you know, Treasuries lend themselves more readily to technical analysis, so let's see what's going on there.... It seems clear that a support zone is being inferred from last week's highs, just over 3.49%. Helping this bounce materialize today is a weaker stock...()Forward this article via email: to someone you know that may want to read it.
Read more: MBS Stabilize as Stocks Lose Steam. Reprice Target Near
Tuesday, 01 March 2011 19:16
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The Census Bureau and Commerce Department have released Construction Spending data for January 2011. Residential construction spending includes remodeling, additions, and major replacements to owner occupied properties subsequent to completion of original building. It includes construction of additional housing units in existing residential structures, finishing of basements and attics, modernization of kitchens, bathrooms, etc. Also included are improvements outside of residential structures, such as the addition of swimming pools and garages, and replacement of major equipment items such as water heaters, furnaces and central air-conditioners. Maintenance and repair work is not included. READ MORE ABOUT DATA COLLECTION Construction Spending data reports on the sum of the value of work done...()Forward this article via email: to someone you know that may want to read it.
Read more: Private Residential Construction Spending Expands in January
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