http://www.mortgagebychoice.com/
    
  Realty, Brokerage
Vaughan | Home | Contact | Sitemap | Ph: 905.660.7999 / 416.630.1999 / 1.866.890.1999    Bookmark and Share  
 
Canada Mortgage Rates | Mortgage News | Financial News | USA Mortgage Rates | Mortgage News

Mortgage News

Back To Home

Mortgage News Daily

MBS RECAP: After More Nuclear Headlines, Bonds Punt

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.

MBS RECAP: After More Nuclear Headlines, Bonds Punt

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.

Rates Show Resilience But Not Without Help

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.

Rates Rise but Refi Share Unchanged

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.

UI Praises HARP Benefits, Lessons

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.

Agency Conforming Changes; Market Exec on Cost to Originate

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.

Home Equity Increases, Average Gains Vary Wildly

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.

MBS Day Ahead: Despite North Korea Headlines, Same Showdown on Tap

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.

MBS RECAP: Bonds Generally Hold Ground, Complicating The Outlook

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.

 

Mortgage Application Form
Loan Amount:*
Purpose of Loan:
First Name : *
Last Name : *
Email: *
Day Phone #: *
Cell # :
Evening Phone #:
Address:
City:
Province:
Country:
Postal/Zip Code:
Anything else you want to tell us:

 

-----------------------------------------------------------------------------

Nawel K. Seth, MBA; Broker of Record
TEL: 416.630.1999 / 905.660.7999. Toll Free 1.866.890.1999


IP Address Location

Flat Fee MLS   |  Flat Rate MLS

 
The Greater Toronto Area | GTA | Thornhill | Richmond Hill | Markham | Vaughan | Unionville | Whitchurch-Stouffville | Newmarket | GTA - EAST | Pickering | Ajax | Whitby | Oshawa | GTA - WEST | Mississauga | Brampton | Oakville | Burlington | GTA - CENTRAL | Downtown | East York | Mid-Town | North York | Scarborough | York Mills | Etobicoke | Allenby | Annex | Armour Heights | Banbury | Bayview Village | Beach | Bedford Park | Bennington Heights | Bloor West Village | Bridle Path | Cabbagetown | Casa Loma | Cedarvale | Chaplin Estates | Cricket Club | Danforth Village | Davisville | Deer Park | Financial District | Forest Hill | Harbourfront | High Park | The Hill | Hogg's Hollow | King West | Kingsway | Lawrence Park | Leaside | Ledbury Park | Leslieville | Little Italy | Lytton Park | Moore Park | New Toronto | North Toronto | Parkdale | Queen West | Rathnelly | Riverdale | Rosedale | Rosedale Golf Club | Seaton Village | Sherwood Park | South Hill | St. Andrew's | St. Lawrence | Summerhill | Willowdale | Wychwood Park | Yorkville | Flat Fee MLS | Discount Real Estate Fees | Lower Real Estate Commission | Discount Real Estate Broker | Discount Real Estate