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Archived Rate Commentary: Four-Month Low
Archived market commentary: This page formerly discussed a four-month low in mortgage rates and the relationship between rates, closing costs, and lender credits. Its original publication date could not be verified from the migrated record. The old market figures and predictions are not current loan terms. Ask a
Archived Eminent Domain Information Notice
Historical article notice. This URL previously carried a general description of eminent-domain steps. That description has been removed because it did not identify a jurisdiction and should not be used to interpret a notice about a particular property. For background on federal land acquisition, see the U.S. Dep
Bond Markets Rally After Weak Jobs Report
Today's Employment Situation Report--rescheduled from the original October 4th release data--has been easily up to the task of inspiring a break of the recently narrow trading ranges in MBS and Treasuries. MBS have been up between .5 and .75 (16-24 ticks) depending on when you look, and 10yr yields have hel
Archived Rate Commentary: A Four-Month Low
Archived market commentary: This URL formerly described a four-month low in mortgage rates and included a specific rate and closing-cost comparison. The original publication date is unverified. Those figures and the article's short-term market outlook are historical and should not be used to estimate today's fina
Update from the Agencies and Informal Notes QM; Lender Updates
With recent changes in QM/ATR rules along with intolerance for any error which may impinge marketability or the ability to expeditiously foreclose, mortgage originators are facing a variety of increased risks. Sure, lenders can create unspecific GAAP reserves, but those unspecific reserves are not tax deduc
Fierce Determination to Stay Sideways
It's been another uneventful session so far with trading levels for MBS and Treasuries both holding inside yesterday's ranges. Treasuries were slightly stronger overnight but moved back to unchanged levels just before the domestic session opened. While the headline on the Durable Goods report was econ
MBA Outlines Support for Alternative QRM
The Mortgage Bankers Association responded on Thursday to the re-proposed Risk Retention rule submitted for comment by six regulatory agencies last summer. In a letter to the agencies from David H. Stevens, MBA's CEO and President, the association expressed strong support for what is called the Preferred Ap
QM and Non-QM Are Going to Get Along Just Fine
Savvy entrepreneurs or established organizations have little to fear from the new qualified mortgage (QM) and Ability-to-Repay (ATR) regulations about to come into effect a new white paper from CoreLogic says. They will find a way to deliver qualified and non-qualified mortgages in a way that meets all the regula
Mortgage Rates Continue Hovering Near 4 Percent
Mortgage rates held steady yet again, ending their second week of significant improvement and contributing to what may soon be the first 2-month stretch of improvement since the Spring of 2012. Some lenders' rate sheets were slightly weaker today while others improved. The net effect was an unchanged
Pending Homes Show First Annual Decline in Over 2 Years
Contracts for home purchases declined for the fourth consecutive month the National Association of Realtors® (NAR) said today. NAR's Pending Home Sales Index fell 5.6 percent to 101.6 in September compared to August and is 1.2 percent below its value of 102.8 in September 2012. This is the lowest
Mortgage Rates Stay Flat to Begin Busy Week
Archived market update — August 27, 2020. The mortgage-rate and closing-cost statements below describe market conditions on the original publication date. They are not current offers, rate quotes, or a prediction of current mortgage pricing. For current planning, contact NorthStar Funding for a review of your s
Does checking your credit hurt your score?
One of the myths surrounding personal credit scores is that checking your own credit reports and scores will make your score go down. That myth has been around for nearly as long as credit reporting agencies.This myth hurts home buyers because it discourages them from checking their credit report in order to kno