Wealth of Women

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I have heard that there are some places on the outskirts of Detroit that are becoming farms. That is pretty weird. But even weirder are some of these places around the world. (The photos are pretty haunting, even of Centralia, Pennsylvania.) Remember that ordinance, in place in Chicago since mid-November and then Las Vegas, that requires mortgage holders to pay a one-time fee of $500 to register a vacant building with the city's building department 30 days after it becomes vacant or 60 days after the mortgage goes into default, whichever is later? Questions about the legality and the "How do I know if it is vacant?" questions, Fannie & the servicers are quietly protesting it . Old CEO's don't die, they just join other boards. Former Morgan Stanley Chief Executive John Mack has joined the...()

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MBS Live : MBS Morning Market Summary As mentioned in the alerts below, bond yields and stock prices moved in tandem with a high degree of correlation earlier this morning. Even though bond markets had largely been holding on to yesterday's trading range, the passing of the 11am hour brings a few volatility inspiring events, including a continued stock market rally adding to the sense that the broader theme of "risk" may be reversing to our detriment. Bond markets responded mostly negatively to the results of the Fed's scheduled "Twist" buying in the the 10yr maturity range, and underlying tradeflows are prompting more caution and discounting ahead of today's 30yr Bond Auction. Bottom line, there are no classic "cause and effect" market movers in play at the moment. Tradeflows and dealer positioning...()

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MBS Live : MBS Afternoon Market Summary "It's been a weird, choppy, and inconsistent trading day." That assessment from the most recent alert sums up the day quite well. In fact the whole thing pretty much covered the rest of the day's trading from that point on. Indeed there was some reprice risk, but nothing "panic-inducing." Weakness persisted into the afternoon, but 10yr yields still have yet to go over their previous high in the mid 2.06's and that has coincided with MBS generally holding the line at 103-03. It looks as if today will avoid making any sort of profound comment on broader trends, unless it's to serve as a warning that the ceiling in the mid 2.06's (precisely where we began the week) is about to crack. MBS Pricing Snapshot Pricing shown below is delayed, please note the timestamp...()

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Mortgages Rates held their ground today and in many cases, carved out small improvements over yesterday's offerings. This keeps us in some of the best territory in recent months in terms of Best-Execution rates. However, t here continues to be a greater-than-normal variability between lender offerings. Some lenders are responding to market movements with bigger changes than others, and the outright levels can be quite different from one lender to the next. Despite that variability, rate sheets between lenders are similar enough to suggest that 4.0% continues to be the most advantageous combination of rate and fees , making it the best all-around candidate for a "Best-Execution rate on a Conventional 30yr Fixed loan. 3.875% is possible for flawless scenarios at the more aggressively priced lenders...()