Quick Tips for Getting Started on Your Home Purchase
Updated Oct. 24, 2014
Buying a home can be a complex process, but it doesn't have to be. With a little preparation, you can save a lot of time and hassle by having all of your documents ready when your mortgage professional needs them.. To start with, the lender will need personal information to verify employment for you and your...

Market Lock Advice
Updated Nov. 1, 2013
Today's Interest Rate Market ForecastMortgage Rates Currently Trending: NEUTRAL to HIGHERToday's Mortgage Rates Forecast: HIGHERVolatility Index: VOLATILEToday it is likely that we see MBS (Mortgage Backed Securities) lose ground and rates go up slightly, possibly .125% (if not rate...

Rates Take a Dip
Updated Nov. 1, 2013
Mortgage rates have three options: rise, drop or remain the same.. Rates took a dive this week - not just any dive, either. In fact, according to the Primary Mortgage Market Survey, rates haven't been this low since June.. That's right. It's been four months since rates have dropped this far. You know...

Market Lock Advice
Updated Nov. 1, 2013
The trading channel wins again!. Yesterday, MBS traded above our trading channel...only to be hammered -41BPS from theirhighs to close back within our channel.. Today, MBS traded below our trading channel....only to rally +13BPS to trade back within ourchannel (as of press time 3:28EDT):. MBS started the day up +22BPS...

How DU Identifies and Underwrites a Previous Foreclosure or Preforeclosure Sale
Updated Nov. 1, 2013
WASHINGTON, DC - Fannie Mae (FNMA/OTC) announced that it will implement new short sale guidelines for servicers to follow as part of the Federal Housing Finance Agency's Servicing Alignment Initiative. The new guidelines streamline documentation requirements, waive deficiencies for borrowers...

Rate Market Update
Updated Nov. 7, 2013
Mortgage Bonds are trading modestly higher, despite better than expected economic data this morning, which on the surface was positive.Gross Domestic Product (GDP) for the 3rd quarter rose more than expected while Weekly Initial Jobless Claims declined in the latest week. However, within the GDP report it...

Rate Market Update
Updated Dec. 5, 2013
What happened yesterday? Mortgage backed securities (MBS) lost -13 basis points (BPS) from Monday's close which caused 30 year fixed rates to move slightly higher.. Our benchmark FNMA 3.50 December coupon pulled back from their early gains and treaded water above our floor of support for the majority of...

Market update 12-5-13
Updated Oct. 24, 2014
Today expect rates to be the same but a worsening to rebate pricing (the cost to obtain a rate or the credit the lender gives you towards your closing costs when selecting a rate). We should also expect to continue the slide in MBS (Mortgage Backed Securities) pricing with the release of today's economic data...

Market Lock Advice
Updated Dec. 24, 2013
We have a holiday-shortened week and a light schedule for economic data.. The bond market will close early on Tuesday at 2:00 EST and be closed on Wednesday in observance of Christmas.. There are no major Treasury auctions this week. The biggest event of the week will be Tuesday morning's release of the Durable...

Market watch
Updated Oct. 24, 2014
Today most lenders will have rates that are the same as what was posted on Friday. This morning's market is performing well and is up about +22 basis points, giving lenders incentive to offer improved rebate pricing (the cost or credit a lender gives you towards your closing costs when selecting a rate).....

Market watch
Updated Jan. 14, 2014
Retail Sales a mixed shopping bag: The headline Retail Sales data was just a tad better than market expectations (.02% vs est of 0.1%) but when you strip out autos, it really jumped (0.7% vs est 0.4%). If this was the only piece of economic data, then MBS would certainly sell off. However, offsetting this data was the fact...

Market watch
Updated Jan. 23, 2014
It was another day of no direct news. The 10 yr fearing another taper next week backed up a little but still is in a very narrow range. Mortgage prices lower now than at 9:30 this morning, we sent a FLASH earlier suggesting locking. Technicals still hold minor positive readings but there has been no price improvement...

Market watch
Updated Feb. 10, 2014
TODAY'S RATES:Today rates should remain flat, with slightly improved rebate pricing (the credit a lender gives towards closing costs, or the cost to obtain a better rate, commonly referred to as "points"). TODAY'S RATE MARKET FORECAST:Today the MBS (mortgage-backed securities) market opened...

Market Watch
Updated Oct. 24, 2014
At 10:00 the Feb ISM services sector index, expected at 53.5 from 54.0, the index fell to 51.6 the weakest reading since Feb 2010. The service sector has been the driver for job growth in the last year, the weak report will likely be blamed on the weather but the ISM manufacturing index released last week was stronger...

Market Watch
Updated Feb. 25, 2014
I remain concerned that the US economy isn't what it is touted to be. A lot is made about the unemployment rate down to 6.6% but the jobs created are at the very low end of the pay scale. The unemployment rate is a statistic that can be what the Fed and Wall Street want it to be, but if the Fed really believes this is a...