Posts Tagged ‘yr fha’

30
Jan

Mortgage Rates January 30, 2009

   Posted by: Cal    in Gulf Coast Mortgages

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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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28
Jan

Mortgage Rates January 28, 2009

   Posted by: Cal    in Gulf Coast Mortgages

Today marked the first FED meeting since December 16th when they announced the FED would be aggressively buying mortgage backed securities through the first 6 months of 2009. 

The news was as expected with rates remaining unchanged and a commitment to keep them unchanged until further notice.

The bond market reacted negatively to the news as it is seen as a positive for the economy.  Bond traders are selling this afternoon

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23
Jan

Mortgage Rates January 23, 2009

   Posted by: Cal    in Gulf Coast Mortgages

According to FED member Frederic Mishkin in an interview on CNBC this morning, we could see inflation begin to creep into the economy based on all the government programs on the drawing board.

If there is anything that will scare away bond investors…it is the word inflation.  This combined with the summer driving season right around the corner which will inevitably lead to higher oil and gas prices means that we will likely see much higher mortgage rates in

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Mortgage bonds are down again today as they continue to bounce off a level of support at the rising trend line. 

In this volatile market, things move quickly and rates are changing throughout the day with little or no warning.

Jobless claims came out today and jumped by 62,000 to a total of 589,000 which is much worse than the forecast of 548,000.  This

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We wake up today with a new president and new direction for the future and regardless of your party affiliation, the excitement in the air is palpable. 

All of the hoopla over our new comander in chief got me thinking, if much of the economy is actually based on the perception of the citizens within that economy, is it possible that the excitement of the new administration will turn into a boost for consumer sentiment and the economy as a whole.  It will be months before that theory is proven even if it is true, but it makes for interesting dinner conversation.

Mortgage bonds remain in positive territory today bouncing off of support levels near the 25 day moving average.  There is no economic news due out today, so the bond markets will likely get their cue from stocks.

Mortgage Bond 6 month history

 

 

 

 

 

 

 

 

 

Today also marks the beginning of Senate confirmation hearings for Treasury Secretary nominee Timothy Geithner.  Given his problems in the past with paying his taxes, I find it ironic that he may actually be the new head of the IRS.

Mortgage bonds are hovering very near levels that would indicate it has been oversold recently which could mean a run up soon.  If this happens, be prepared to lock in your rate on a rally.  For today, we will continue to float and watch.

 

If you would like to get pre-approved for a purchase or refinance, please call 850-221-8334 anytime.


Rates as of 9:10 AM 1/21/2009


30 Yr Fixed Mtg 4.875%
15 Yr Fixed Mtg 4.625%
30 Yr FHA 5.000%
30 Yr VA 5.000%
Reverse Mortgage Call For Rates

Steve Russell
Mortgage Banker
Primary Residential Mortgage
850-221-8334 Cell
850-497-6325 Office

Steve@steverussellonline.com

www.SteveRussellOnline.com

* All rates assume the purchase of a single family primary residence with at least 20% down payment, 740 credit scores, and verifiable income and assets. Rates vary based on borrower profile and property type. Rates are subject to change without notice. All rates also assume a 1% origination fee. Loans with no origination fee and no points may be available.

 

 

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20
Jan

Mortgage Rates January 20, 2009

   Posted by: Cal    in Gulf Coast Mortgages

Mortgage bonds are moving down slightly today as the markets react negatively to prospects that the Obama administration is considering nationalizing the banking industry.

If you would like to get pre-approved for a purchase or refinance, please call 850-221-8334 anytime.


Rates as of 10:10 AM 1/20/2009


30 Yr Fixed Mtg 4.875%
15 Yr Fixed Mtg 4.875%
30 Yr FHA 5.000%
30 Yr VA 5.000%
Reverse Mortgage Call For Rates

Steve Russell
Mortgage Banker
Primary Residential Mortgage
850-221-8334 Cell
850-497-6325 Office

Steve@steverussellonline.com

www.SteveRussellOnline.com

* All rates assume the purchase of a single family primary residence with at least 20% down payment, 740 credit scores, and verifiable income and assets. Rates vary based on borrower profile and property type. Rates are subject to change without notice. All rates also assume a 1% origination fee. Loans with no origination fee and no points may be available.

 

 

 

 

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13
Jan

Mortgage Rates January 13, 2009

   Posted by: Cal    in Gulf Coast Mortgages

Mortgage bonds continue to move sideways today with no significant news to drive it up or down. Stocks are also nearly flat, surprising in the wake of an after closing release by Alcoa that they had a $1 billion loss for the 4th quarter.

Tomorrow will bring the retail sales report for December and the Crude Oil inventory report. This highly anticipated economic data will likely have a volatile effect on the markets making today a good day to get your affairs in order on your mortgage application and be prepared to lock should the news be worse than expected.

If you would like to get pre-approved for a purchase or refinance, please call 850-221-8334 anytime.


Rates as of 10:10 AM 1/13/2009


30 Yr Fixed Mtg 4.625%
15 Yr Fixed Mtg 4.500%
30 Yr FHA 4.875%
30 Yr VA 4.875%
Reverse Mortgage Call For Rates

Steve Russell
Mortgage Banker
Primary Residential Mortgage
850-221-8334 Cell
850-497-6325 Office

Steve@steverussellonline.com

www.SteveRussellOnline.com

* All rates assume the purchase of a single family primary residence with at least 20% down payment, 740 credit scores, and verifiable income and assets. Rates vary based on borrower profile and property type. Rates are subject to change without notice. All rates also assume a 1% origination fee. Loans with no origination fee and no points may be available.

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Mortgage bonds were off to a rough start this morning at the open.   But, at the time of this posting, they have recovered much of the early morning losses in trading.   No significant economic data is due out until Wednesday January 14th when the retail sales report and crude oil inventories becomes available.

Because of this, the bond market will likely take the lead from stocks and world news over the next 48 hours.

If you would like to get pre-approved for a purchase or refinance, please call 850-221-8334 anytime.


Rates as of 9:10 AM 1/12/2009


30 Yr Fixed Mtg 4.750%
15 Yr Fixed Mtg 4.500%
30 Yr FHA 4.875%
30 Yr VA 4.875%
Reverse Mortgage Call For Rates

Steve Russell
Mortgage Banker
Primary Residential Mortgage
850-221-8334 Cell
850-497-6325 Office

Steve@steverussellonline.com

www.SteveRussellOnline.com

* All rates assume the purchase of a single family primary residence with at least 20% down payment, 740 credit scores, and verifiable income and assets.  Rates vary based on borrower profile and property type.  Rates are subject to change without notice.  All rates also assume a 1% origination fee.  Loans with no origination fee and no points may be available.

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