Wealth of Women
Mortgage Rates Improve on Weak Data, Greece Jitters
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Mortgages Rates are somewhat improved today after holding relatively steady to begin the week. In the underlying markets MBS (the "mortgage-backed-securities" that most directly influence mortgage rates) rose to their best levels since last Thursday after today's Retail Sales figures showed slower than expected consumer spending. When MBS prices rise, interest rates fall (although it should be noted this isn't always a linear or immediate relationship, but it is generally true over time). Today's improvements bring rates near the more aggressive end of 3.875% Best-Execution levels in terms of borrowing costs, and some lenders are aggressively priced at 3.75% for pristine scenarios and higher loan amounts. (We explain even more about Best-Execution calculations in THIS POST ). European headlines...()Forward this article via email: to someone you know that may want to read it.
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MBS RECAP: 2/14/2012
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MBS Live : MBS RECAP Open MBS Live Dashboard FNMA 3.5 103-24 : +0-09 FNMA 4.0 105-16 : +0-07 FNMA 4.5 106-24 : +0-04 FNMA 5.0 108-03 : +0-03 GNMA 3.5 105-14 : +0-12 GNMA 4.0 108-05 : +0-12 GNMA 4.5 109-16 : +0-09 GNMA 5.0 111-05 : +0-03 FHLMC 3.5 103-15 : +0-09 FHLMC 4.0 105-04 : +0-06 FHLMC 4.5 106-09 : +0-04 FHLMC 5.0 107-24 : +0-02 Pricing as of 4:04 PM EST Afternoon Market Updates A recap of MBS Market Updates provided by MND Analysts and streamed live to the MBS Live Dashboard . 12:49PM : ALERT: MBS At Highs. Potential Positive Reprices, But Limited by Event Risk At 103-28 currently, Fannie 3.5's are up 13 ticks on the day, and sit at the highest prices since last Thursday. These gains are sufficient and have been held long enough to justify positive reprices under normal conditions...()Forward this article via email: to someone you know that may want to read it.
The Day Ahead: Digesting Greek Headlines and Week's Last Auction
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Normal 0 false false false EN-US X-NONE X-NONE As it turns out, the reason we’d heard about the meeting of Greek officials and the troika starting earlier in the day yestersday while never hearing anything else before domestic markets closed, was that the closed door meeting was going on the entire time. Even though the portion of the meeting with the heads of Greece’s political parties concluded shortly after 5pm (EDT), Prime Minister Lucas Papademos said that additional issues needed to be worked on immediately so a deal could be reached ahead of Thursdays Eurogroup meeting. EU/IMF Officials weren’t seen emerging from his office until 10:50pm, almost 6 hours later. Here are a few of the relevant Reuters wires ranging from 5pm-11pm: · RTRS - GREEK PARTY CHIEFS' MEETING...()Forward this article via email: to someone you know that may want to read it.
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"House Lock" - Negative Equity not Hurting Employment Numbers
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" House lock " is not a major factor when it comes to a homeowner's ability to find a job. A working paper commissioned by the Federal Reserve Bank of Boston found that, while many Americans lack mobility because their homes are "underwater" in respect to their mortgages, this is only a marginal contributing factor to continued unemployment. Migration across states and among homeowners has fallen sharply at the same time as a widespread drop in housing prices has resulted in wide-spread negative home equity. According to CoreLogic, 10.7 million homes, 22.1 percent of all residential properties with a mortgage, were worth less than their mortgages at the end of the third quarter of 2011 and an additional 2.4 million borrowers had less than 5 percent equity. The nation's unemployment rate has...()Forward this article via email: to someone you know that may want to read it.
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Ally to Sell ResCap? NCUA on Loan Workouts; Thoughts on the FHA Streamline Situation
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Top Realtors and loan officers know that words make a difference in dealing with buyers and borrowers. It may seem obvious, but word choice, be it in advertising or client relations, has a big influence on what customers think about any given organization. Take, for example, the statement that "we can get you more loan business, trust us." The reader is highly unlikely to do so; in fact, he or she would likely be rather suspicious. The phrase "trust us" is a "negative transfer phrase"; that is, it elicits a psychological response that is the opposite of its intention. However, if told to "imagine if we can show you how to generate enough loan growth to not only meet your budget, but easily surpass it," the customer would be both interested to hear the solution and inclined to, yes, trust that...()Forward this article via email: to someone you know that may want to read it.
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