Wealth of Women
Home Affordability at Record Levels
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While housing is more affordable than ever for most U.S. families, the lack of financing available to them continues to constrain prospective homebuyers according to the most recent National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released on Thursday. The Index indicates that 75.9 percent of all new and existing homes sold in the fourth quarter were within the financial reach of families earning the national median income of $64,200. This is the highest number for the affordability index in its 20 year history. HOI measures the percentage of homes sold in a given area that could be purchased by households earning that area's median income at current mortgage interest rates and assuming a 20 percent down payment. "While today's report indicates that homeownership...()Forward this article via email: to someone you know that may want to read it.
Provident and Condos; Startling Utah Stats; Promising Signs for US Economy - Will Rates Creep Up?
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Yes, Wells Fargo's CEO's was on CNBC this morning talking about the mortgage markets. Investor news is rarely "headline grabbing," but also this morning Provident Funding , often the nation's leading wholesale operation, turned some heads and notified brokers this morning ahead of this three day weekend, "Effective immediately for new locks, condominiums are now unacceptable properties except for high rise condominiums located in Chicago, Honolulu, San Francisco and Seattle. Existing locks will be honored and allowed lock extensions. Please refer to the updated Program Guidelines for complete details." (Editor's note: I received it from a few folks - I hope it is not some kind of prank.) The land of Alta & Snowbird, the Bonneville Salt Flats, mountain bike riding in Moab, and... Nearly...()Forward this article via email: to someone you know that may want to read it.
MBS MID-DAY: 2/17/2012
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MBS Live : MBS MID-DAY Open MBS Live Dashboard FNMA 3.5 103-11 : -0-03 FNMA 4.0 105-07 : -0-03 FNMA 4.5 106-17 : -0-02 FNMA 5.0 107-31 : -0-01 GNMA 3.5 104-27 : -0-02 GNMA 4.0 107-22 : -0-02 GNMA 4.5 109-03 : -0-02 GNMA 5.0 110-28 : +0-01 FHLMC 3.5 103-03 : -0-02 FHLMC 4.0 104-26 : -0-02 FHLMC 4.5 106-03 : -0-02 FHLMC 5.0 107-20 : +0-00 Pricing as of 10:59 AM EST Morning Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 9:34AM : ALERT: Bond Markets Search For Support After New ECB Headlines Bond markets are trying to find their footing this morning after yesterday's weakness extended through the overnight session. News that the ECB may go one step further than yesterday's bond-swap deal and actually allow Greek bonds...()Forward this article via email: to someone you know that may want to read it.
Mortgage Rates Continue Higher Ahead of High-Risk Weekend
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Mortgages Rates are higher for the 2nd day in a row. Unlike the movement we normally see, which limits itself to affecting closing costs as opposed to the quoted rates themselves, today's deterioration leaves 4.0% looking like the better deal for enough lenders that we'd make a note of it's increasing prevalence, although the average across all lenders in our survey is still closer to 3.875%. Additional reading: A previous post with more detailed discussion about Best-Execution calculations. Weakness aside, today was fairly quiet for the MBS market (MBS = mortgage-backed securities, which most directly influence the rates offered by mortgage lenders) as well as Treasuries. Most of the activity was seen in the early morning after the European Central Bank said that it might allow the central...()Forward this article via email: to someone you know that may want to read it.
Read more: Mortgage Rates Continue Higher Ahead of High-Risk Weekend
MBS RECAP: 2/17/2012
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MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-11 : -0-02 FNMA 4.0 105-06 : -0-03 FNMA 4.5 106-17 : -0-03 FNMA 5.0 107-31 : -0-01 GNMA 3.5 104-26 : -0-03 GNMA 4.0 107-22 : -0-02 GNMA 4.5 109-02 : -0-03 GNMA 5.0 110-31 : +0-04 FHLMC 3.5 103-02 : -0-02 FHLMC 4.0 104-25 : -0-03 FHLMC 4.5 106-03 : -0-02 FHLMC 5.0 107-20 : +0-00 Pricing as of 4:00 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 3:16PM : ALERT: Bearish Bias Dries Up After Hours, Still Sideways Just a quick update to moderate the negative reprice report from the previous alert. MBS stayed within the day's range and bounced higher following the 3pm close. 10's and MBS have improved into the "going out" hours (from 3-5pm...()Forward this article via email: to someone you know that may want to read it.
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