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

Will Higher Rates and Tax Changes Derail Housing Market?

Posted To: MND NewsWire

Last year's Federal Reserve actions, raising the target interest rate three times, led to about a 0.75 percentage point increase in the 1-year Constant Maturity Treasury (CMT) note, while the 10-year CMT note barely moved. Freddie Mac's Economic and Housing Research group says this flattening of the yield curve could be a bad sign for future economic growth . Especially should that curve become "inverted." Freddie Mac says they don't expect the trend to continue , instead they expect long-term rates will also follow the Federal Open Market Committee's (FOMC's) anticipated actions in 2018, for three or four more rate hikes , and head higher. Writing in the current edition of Outlook , the economists say the new Tax Cuts and Jobs Act bill's lower corporate tax rate should boost GDP growth by...(read more)

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

Notes on Culture; Disaster Updates; Jumbo Trends and Reverse Mtg. Securitization

Posted To: Pipeline Press

If you want to read up on the latest Fannie lawsuit, here’s one dealing with a stripper hired into Fannie’s IT group but with unusual manager expectations . If you want to live in affordable beach town, stay away from California. Per this list , there aren’t any. In fact, looking at the West Coast, in the top 25 there is only one in Oregon (Coos Bay) and only one in Washington (Port Angeles) – most of the others are in Florida. And if you want the latest on Equifax , it is battling 334 separate consumer complaints . No surprise there, huh? Jumbo and Nonconforming News The jumbo-mortgage market has been a bright spot for the banking industry in recent years. Banks love putting those loans on their books. But the tax law has already removed some of the shine from it. The...(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: The Unbelievable Impact of the Government Shutdown

Posted To: MBS Commentary

Markets closed on Friday with a government shutdown still in limbo. Ostensibly, that meant the reaction in stocks and bonds wouldn't be fully seen until this morning. Indeed, there was a reaction, and for all the fuss made over the shutdown in the news (and even among some traders/analysts), the end result may be hard to believe (unless you've been paying attention to our analysis or otherwise already in the know). In other words, nothing happened in markets, and that continues to be the case as the domestic hours begin. Part of the underwhelming response could be due to the fact that the shutdown is still in a sort of limbo, given that another temporary bill is in the works for today. But even then, it continues to be the case that government shutdowns aren't huge market movers...(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: Small Ray of Hope Amid Scary Sell-Off

Posted To: MBS Commentary

Today's sell-off brought 10yr yields to their highest levels since the middle of 2014 (when they were on their way down following the taper tantrum. With this, bonds have weakened substantially for each of the past 3 weeks. That's where the small ray of hope comes in. Because the past 3 weeks of pain in bond markets are NOT acting as a correction to an overly-big rally, and because they're not occurring amid a large-scale adjustment of risk (like the taper tantrum or the presidential election) they're an incredibly rare sight. In fact, apart from those aforementioned conditions, we really don't see more than 3 weeks of this much weakness strung together (once or twice every few years). Although today's afternoon weakness did little to change the overall damage this week...(read more)

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

Worst Week Since June for Mortgage Rates

Posted To: Mortgage Rate Watch

Mortgage rates remained at 9-month highs today, with most lenders in worse shape than yesterday. In the morning, the sky hadn't yet fallen, the average lender was right in line with yesterday's 9-month highs, but at least we weren't any worse off than yesterday. Things changed in the afternoon as bond markets weakened abruptly. Many lenders issued negative reprices, thus leaving the average lender noticeably higher than yesterday. Today's weakness makes this the worst week for rates since late June and one of only 3 weeks with as much of a rate spike since 2016. For the third day in a row, I'm repeating the same mantra: any time we're pushing long-term highs, it's a good idea to remain defensive in terms of locking vs floating. The saving grace is that long-term highs typically precede extended...(read more)

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

Auction Fever Heats Up Home Sale Prices

Posted To: MND NewsWire

The bidding wars are back . With home prices and sales back to or above pre-crisis levels and the inventory of available homes at records lows, CoreLogic's Shu Chen says that a large and increasing share of homes sold at or above their listing prices in 2017. In September that share was back to early 2004 levels, up almost three times from the 2008 level . Those at-and-above list sales represented more than one-fifth of all transactions. Of course, under the "all real estate is local" rule, there is a wide range in the level of bidding activity. In San Francisco 76 percent of sales were at the asking price or higher , while in Miami only 16 percent of sales reflected pressure from buyer bidding. Of the 16 Core-Based Statistical Areas (out of the 66 CoreLogic tracked) in Figure 2, the top five...(read more)

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

FHFA Director Watt Weighs in on Financial Reform Debate

Posted To: MND NewsWire

Bloomberg News is reporting on a proposal from Federal Housing Finance Agency (FHFA) Director Melvin Watt regarding the future of Fannie Mae and Freddie Mac (the GSEs). The two former companies, which have been in conservatorship under FHFA since 2008, are at the heart of the current debate on housing finance reform. Watt's proposal, titled "Federal Housing Finance Agency Perspectives on Housing Finance Reform," was sent to Senate Banking Chairman Michael Crapo (R-ID) and the committee's ranking member, Sherrod Brown (D-OH). In the proposal's cover letter Watt said that he and the FHFA staff feel they should provide their views "independently and transparently to those who have requested them while continuing to provide technical assistance to the committee and its members on other proposals...(read more)

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

Urban Institute Weighs in on the Rent vs. Own Under New Tax Bill

Posted To: MND NewsWire

While recently passed Tax Cuts and Jobs Act will benefit the take-home pay of most Americans, and allow them to save up to buy a home if they wish, other factors will offset that benefit . This will make renting look more attractive than homeownership to many. Two analysts, Laurie Goodman and Edward Golding, writing for the Urban Institute (UI) looked at the potential impact of the new law and constructed a matrix showing how changes will affect families in various income groups. Their calculations take into account that the increased standard deduction will mean fewer taxpayers will itemize and the lower rate will mean smaller benefits for those who do. UI profiled four families, each with three members, and earning $50,000, $75,000, $150,000, and $300,000 a year. Each buys a home valued at...(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: Buyers Still Alive, But Still Waiting to Charge

Posted To: MBS Commentary

Yesterday's recap is a good read if you didn't happen to catch it. Here's a link. In general, there are 2 things going on with rates right now. 1. confirmed uptrend beginning in mid-December and still intact 2. lurking buyers potentially getting closer to buying after a break to the highest levels in more than a year. Actually these 2 things are always going on with rates if we reduce them to their categories. If we did so, they would read: 1. currently confirmed trend (aka "what's actually happening") 2. potential changes to that trend (aka "what might happen") As has been the case in recent days, bond markets are trading for reasons that transcend most any economic data or news headline. The exception would be news headlines for traders focused on corporate...(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