Professional Home Staging and Photography Blog: January 2009

RATE ALERT - January 23, 2009

Mortgage Backed Security (MBS) prices opened up this morning, but have since pulled back. They are now trading at the lows of the session. The 30-Year FNMA 4.5% coupon is now down 6/32 after being up 4/32 in early trading.

There are no economic reports scheduled for release today. However, stocks are trading lower amid dismal corporate earnings reports as well as over concerns the recession will hurt corporate profits. Fixed income assets (Treasuries and MBS) are dropping on speculation the new administration will sell a record amount of debt to battle the global downturn. Massive government spending will be needed to replace private consumption that was wiped out by the financial crises.

Watch for a Friday afternoon sell-off in MBS! If that happens, mortgage rates will most likely be higher this afternoon. If you need to lock in a rate for a closing early next week, it's best to do so now.

 

East Bridgewater, MA 02333
Phone: (508) 443-1332

Lew Corcoran, ASP®, IAHSP, IAHSP-CB
Accredited Home Staging Professional
Professional Real Estate Photographer

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Comment balloon 0 commentsLew Corcoran, ASP® • January 23 2009 11:07AM
RATE ALERT - January 23, 2009
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Mortgage Backed Security (MBS) prices opened up this morning, but have since pulled back. They are now trading at the lows of the session. The 30-Year FNMA 4. 5% coupon is now down 6/32 after being up 4/32 in early trading. There are no… more
The Daily Mortgage Interest Rate Lock Advisory - January 23, 2009
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My Lock Advice for Today : If I were considering financing/refinancing a home, I would… Lock if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing… more
Mortgage Market Update - January 22, 2009
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Mortgage Backed Security (MBS) prices rebounded in late afternoon trading, with the 30-Year FNMA 4. 5% coupons closing up 2/32 from yesterday's close. Between the 15th and 21st of January of this year, the Federal Reserve purchased just over.. more
The Daily Mortgage Interest Rate Lock Advisory - January 22, 2009
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My Lock Advice for Today : If I were considering financing/refinancing a home, I would… Lock if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing… more
RATE ALERT - January 21, 2009
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Mortgage Backed Security (MBS) prices opened lower in light trading this morning amid concerns that debt sales will increase. The price of the 30-Year FNMA 4. 5% coupon was down as much as 11/32 today from yesterday's close, and an increase in… more
The Daily Mortgage Interest Rate Lock Advisory - January 21, 2009
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My Lock Advice for Today : If I were considering financing/refinancing a home, I would… Float if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing… more
RATE ALERT - January 20, 2009
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The price of the 30-year bond fell 3-18/32 while the 10-year bond fell 1-2/32 this morning. Meanwhile the 30-year FNMA 4. 5% MSB coupon has recovered from its losses this morning, and is now back at 101-17/32 and unchanged from Friday's close… more
The Daily Mortgage Interest Rate Lock Advisory - January 20, 2009
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My Lock Advice for Today : If I were considering financing/refinancing a home, I would… Float if my closing was taking place within 7 days Float if my closing was taking place within 8 and 20 days Float if my closing… more
New Fannie Mae Loan-Level Price Adjustment Fees Make Getting a…
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There's no doubt about that this is a period of historically low mortgage interest rates. When Freddie Mac published its weekly mortgage rate survey last Thursday, we saw that the "average" 30-Year fixed mortgage rate is now at 4. 96% - the… more
Update on the Mortgage Backed Securities Market
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Mortgage Backed Securities (MBSs) has seen a dramatic run-up in pricing since the end of October, but has been moving in a general sideways pattern since January 8th. In the early part of November, the run-up in MBS pricing was mostly due to poor… more