Posts Tagged ‘retail mortgage’

4
Feb

Mortgage Rates February 4, 2009

   Posted by: Cal    in Gulf Coast Mortgages

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There is a lot of volatility in daily trading in the mortgage bond market, and since the main stream media always gets it wrong, I have included visual aids for you to see exactly what mortgage professionals see.

What you see below is a 30 day chart of the FNMA 4.5% mortgage bond trading activity.  The activity on the bond market is what dictates retail mortgage rates, and the retail mortgage rates that are passed on to consumers are generally .5% to 1.0% higher than the "coupon" rate of the bond itself.  We are now following the 4.5% coupon bond because the activity in the 4% bond has trickled and

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30
Jan

Mortgage Rates January 30, 2009

   Posted by: Cal    in Gulf Coast Mortgages

The bond market had a rough day yesterday and yet it has had little affect on today’s mortgage rates.  This is likely due to previous rate increases to try and slow down the overwhelming rush to refinances that has underwriting backed up for weeks.

Something interesting is happening with the FED’s buy back program for mortgage backed securities.  As mortgage bonds are traded, they come at certain "coupon" rates and are sold in .5% intervals.  For instance, right now we are watching the 4% Fannie Mae

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