REVERSE MORTGAGE QUALIFYING-HECM LOAN

Posted by on Jun 10, 2015 in News, Uncategorized | No Comments

Did you know that FHA is now requiring borrower’s to qualify for HECM reverse mortgages?  Take a look for yourself, they’re really digging into your personal finances with the reverse mortgage product.  Here are a few things to take away from this new income worksheet. 1.  They’re not only looking at your ability to pay […]

Clients are asking where mortgage rates are headed

Posted by on Jun 8, 2015 in News | No Comments

Well, that’s the million dollar question  isn’t it?  The mortgage bond market worsened by over 160 basis points, that’s a huge loss and it will take a lot to recover.  What we typically see when rates shoot up like they did is the market calming down over the next week and mortgage rates will correct […]

Market Analysis, Q1 GDP news!

Posted by on May 29, 2015 in News | No Comments

Daily Market Analysis Q1 GDP preliminary data at 8:30 was about where most were expecting, down 0.7% frm the advance at +0.2%. The initial market reaction didn’t move much, the 10 was already at 2.12% prior to the release MBS prices also saw no reaction, up 5 bps prior to the release and up 5 […]

Mortgage Rate Report-Lock Em Up

Posted by on May 27, 2015 in News | No Comments

Rates At a Glance Mortgage Rates Currently Trending Today’s Mortgage Rate Forecast Today’s Potential Rate Volatility Neutral Neutral High (by Sigma Research) Today’s Mortgage Rate Summary How Rates Move: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day […]

Mortgage Rate Report 05-26-15

Posted by on May 26, 2015 in News | No Comments

Rates At a Glance Mortgage Rates Currently Trending Today’s Mortgage Rate Forecast Today’s Potential Rate Volatility NEUTRAL NEUTRAL HIGH (by Sigma Research) Today’s Mortgage Rate Summary How Rates Move: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day […]

Market Update 05-19-15

Posted by on May 19, 2015 in News | No Comments

Daily Market Analysis Finally…a solid April economic report. April housing starts expected to be up 10% were up 20%, permits expected to be up 2.9% were up 10%. Starts in March revised from 926K to 944K; permits in March were revised to 1.038 mil from 1.039 mil. This report is the best data we have […]

Rates most likely headed higher/Lock and Load those prices

Posted by on May 18, 2015 in News | No Comments

Rates At a Glance Mortgage Rates Currently Trending Today’s Mortgage Rate Forecast Today’s Potential Rate Volatility Neutral HIGHER HIGH (by Sigma Research) Today’s Mortgage Rate Summary How Rates Move: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day […]

Daily Market Analysis 05-18-15

Posted by on May 18, 2015 in News | No Comments

Daily Market Analysis Friday had a very nice rally, MBS price +50 bps on the FNMA 3.0 coupon; the 10 yr note yield dropped 10 bps to 2.14%. Weak data on industrial production, factory use and the U. of Michigan consumer sentiment index declined from 95.9 to 88.6. Earlier last week April retail sales were […]

Be prepared for higher rates today 05-14-15

Posted by on May 14, 2015 in News | No Comments

Rates At a Glance Mortgage Rates Currently Trending Today’s Mortgage Rate Forecast Today’s Potential Rate Volatility Higher Neutral High (by Sigma Research) Today’s Mortgage Rate Summary How Rates Move: Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day […]

Daily Market Analysis 05-14-15

Posted by on May 14, 2015 in News | No Comments

Daily Market Analysis Weekly claims down 1K to 264K, expectations were for an increase of 11K. The four-week average, a less-volatile measure, was the lowest since April 2000. Firings and lay-offs have declined leading to markets expecting wage increases are just around the corner. Recent employment data confirms that the slowdown in Q1 was ‘transitory’ […]