www.westchester-real-estate.us
Locate & Research Westchester Properties Like An Agent

 

Westchester County Homes, Condos, Coops & Apartments For Rent

How To Protect, Maintain & Enhance Your Home's Value


Find Walkable Neighborhoods
 

 


Phyllis' Westchester County Realty Blog



 




Mortgage News Daily


Mortgage News Daily

Posted To: MBS Commentary

Who knows how today's trading would have unfolded absent the overnight headlines that North Korea was planning to test an ICBM with a Hydrogen warhead in the Pacific Ocean. This prompted a risk-off move early in the overnight session (stocks and bond yields lower). After that, bonds seemed reluctant to challenge either side of the most recent range (2.24-2.28%). That was basically it for the rest of the day. Yields drifted down to 2.24% just after the NYSE open, but quickly and decisively bounced. About an hour later a few big trades came across in the Treasury Futures complex, pushing yields abruptly higher, but not significantly higher. MBS held even steadier than Treasuries with Fannie 3.5 coupons staying inside an ultra-narrow range of 3/32nds. We'd expect to see today's range...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/22/2017 2:52:45 PM

Posted To: MBS Commentary

Who knows how today's trading would have unfolded absent the overnight headlines that North Korea was planning to test an ICBM with a Hydrogen warhead in the Pacific Ocean. This prompted a risk-off move early in the overnight session (stocks and bond yields lower). After that, bonds seemed reluctant to challenge either side of the most recent range (2.24-2.28%). That was basically it for the rest of the day. Yields drifted down to 2.24% just after the NYSE open, but quickly and decisively bounced. About an hour later a few big trades came across in the Treasury Futures complex, pushing yields abruptly higher, but not significantly higher. MBS held even steadier than Treasuries with Fannie 3.5 coupons staying inside an ultra-narrow range of 3/32nds. We'd expect to see today's range...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/22/2017 2:52:45 PM

Posted To: Mortgage Rate Watch

Mortgage rates held their ground yesterday. That was a refreshing development given the abrupt move higher over the past 2 weeks and a relatively threatening reaction to Wednesday's Federal Reserve events. Now again today, rates have managed to hold their ground. In some cases, lenders improved by token amounts. If yesterday was refreshing, today would be doubly so. But the refreshment comes with caveats . We don't really know what the natural direction would have been for rates today because underlying markets were clearly affected by overnight headlines regarding North Korea potentially testing an ICBM with a Hydrogen warhead in the Pacific Ocean. In general, these sorts of headlines lead investors to shed risk--something that frequently takes the form of selling stocks and buying bonds....(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/22/2017 2:27:00 PM

Posted To: MND NewsWire

Refinancing accounted for 35 percent of all mortgages originated in August, unchanged from July, but down from 47 percent at the beginning of the year. Ellie Mae's says, in its Origination Insight Report for the month, that refinancing is holding up especially well among conventional loans where the share ticked up 2 percentage points from July to 42 percent of all loans. "As the summer season draws to a close, refinances held steady at 35 percent of all closed loans coupled with a slight increase in interest rates to 4.27, up from the 2017 low of 4.25 in July," said Jonathan Corr, president and CEO of Ellie Mae. The share of loans claimed by each product type was unchanged from both June and July. Conventional loans made up 64 percent, FHA 22 percent, and VA 10 percent. The time to close a...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/22/2017 10:26:15 AM

Posted To: MND NewsWire

Sometimes government gets it right. The Urban Institute (UI) clearly thinks that the Home Affordable Refinance Program, at least in its second iteration , was one of those times. The history of HARP, as the program is known, is the subject of a post in UI's Urban Wire blog credited to four UI analysts*. They say that, before 2009, borrowers who had little or no equity in their homes could not refinance, even if their mortgages were current. With home prices plummeting, the number of homeowners in that situation was rapidly expanding and many were stuck in loans with 6 percent or higher rates, even as current rates fell below 4 percent. This cost borrowers significant savings and deprived the struggling economy of much needed stimulus. In 2009, the two government sponsored enterprises (GSEs...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/22/2017 9:14:13 AM

Posted To: Pipeline Press

Welcome to the autumn equinox. How about this? There have been no public CFPB enforcement actions or consent orders dealing with QM, ATR, or TRID. Zero, zip. Has the CFPB realized that companies are genuinely trying to adhere, and that having 100% TRID error-free originations is impossible? Or that that regulation through enforcement action is not a good idea, a concept advanced by lenders, state & regional trade groups, and the MBA? Certainly there are violations - just look at pages 17 & 18 of the Supervisory Highlights . Giving lenders instructions, and time for continued improvement, rather than taking away half their net worth via a penalty is constructive. But as my cat Myrtle seems to believe, "Just because there aren't heads impaled on the castle wall doesn't mean the beatings...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/22/2017 7:37:32 AM

Posted To: MND NewsWire

Rising home prices continue to fuel fast growth in household equity. CoreLogic said on Thursday that owners of mortgaged properties in the U.S. (roughly 63 percent of all homes) gained an aggregate of $766 billion in additional equity between the second quarter of 2016 and the same quarter this year. This is an increase of 10.6 percent in nationwide equity over that period. The average increase for each homeowner was just under $13,000, but the distribution is far from even across the states. A few states in the west , notably Washington, Hawaii, and California, with equity gains of $40,000, $33,000 and $30,000 respectively, have offset much poorer performances elsewhere. Homeowners in Alaska saw their equity decline by an average of $1,200 and Delaware homeowners also posted a tiny loss. On...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/22/2017 7:18:49 AM

Posted To: MBS Commentary

With a dearth of economic data on the calendar, bond traders were set to take cues from other traders, technical levels, and perhaps a big-ticket headline or two. Today begins with just such headlines . As has been the case for several market moving headlines of late, today's center on North Korea. North Korea has tested nukes within its borders. It's tested ICBM's outside its borders, but it has yet to test ICBM's with nukes outside its borders--something it threatened to do overnight. That's the big shift this time around, and the key reason that these headlines were worth a market reaction whereas the last round of "test" headlines fell on deaf ears. The overnight reaction was clearly "risk-off" (stocks, Yen, bond yields all moved lower). But if we...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/22/2017 6:59:54 AM

Posted To: MBS Commentary

In a sick way, it would have been easier to see additional weakness in bond markets today. At least that would have jived with past precedent of "course corrections" from the Fed resulting in a shift in the prevailing momentum. Arguably, yesterday's Fed announcement was a course correction--not because they implemented the balance sheet normalization, but rather, because they clarified the impact that recent data and events had on their rate hike outlook. Long story short, recent data and events didn't slow the Fed down as much as markets figured it would. It wouldn't have been a surprise to see yesterday's weakness continue overnight and into the next several trading days. Instead, bonds picked out a fairly handy technical ceiling at 2.28% in 10 yr yields and left...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/21/2017 2:40:46 PM

Posted To: Mortgage Rate Watch

Mortgage rates have been higher almost exclusively for the past 2 weeks. Yesterday was no exception as the Federal Reserve released a rate hike forecast that was slightly more optimistic than markets were expecting. By yesterday afternoon, the average 30yr fixed mortgage rate was at its highest levels in over a month. The Fed news justified a defensive stance among prospective mortgage borrowers. When rates move initially higher following a Fed announcement, it's all too common to see that momentum continue in the following day. In today's case, we've actually seen a bit of support. Underlying bond markets were in slightly better shape vs yesterday for most of the day, thus allowing lenders to either keep mortgage rates unchanged or to bring them marginally lower. 4.0% remains the most prevalently...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

9/21/2017 1:44:00 PM


Bookmark and Share

This site has been optimized for Internet Explorer 7 or higher with the text size set to "Medium". Both a "Pdf Reader & Flash Player" need to be installed on your computer as well. Without these add-on programs you may be unable to use some of the more advanced tools and functions contained within this site. You can download these programs from Adobe.com free of charge.


Featured Listings Search MLS Listings Search New Listings Alert

Your Westchester County New York Real Estate Center
Real Estate Listings, Sales, Rentals, Consultation & Relocation Services
Home Buyers, Sellers & Renters Representation
Residential Property Management



38 Main Street - Tarrytown, New York 10591
1197 Pleasantville Road - Briarcliff Manor, New York 10510
579 Broadway - Hastings On Hudson, New York 10607 
68 Main Street - Irvington, New York 10533

Main Office - Tarrytown New York - 914-332-6300
 
Privacy Policy  |  Site Map  |  Links  |  For Agents  |  Profile

Web Site Design, Customization & Maintenance by www.HJSWebDesign.com
©2007 Phyllis Lerner - William Raveis Legends Realty Group LLC
 


 
Equal Housing Opportunity     Westchester Putnam MLS Member | Westchester County Realtor