HARP UPDATE Yesterday, the Federal Housing Finance Agency announced enhancements to the Home Affordable Refinance Program (HARP), and extended the program until Dec. 31, 2013. The changes are designed to expand the number of borrowers with little or negative equity who can qualify for refinancing. The Home Affordable Refinance Program allows homeowners in good payment [...]
Category | Home Refinance
Costco is known for their excellent products and prices but what about their new mortgage service? Costco has partnered with several lenders and make use of a real time pricing engine powered by Nylx to deliver real time quotes. The pitch is that the lender fee will not cost over $600. Does Costco have the [...]
Choicelend.com – Yesterday the 10 yr note closed above its 20 day average for the first time since April 15th, although it is up some this morning it hasn’t been able to push back below its 20 day on the yield chart. The 9 day relative strength index is back above 50 on the 10 [...]
Choicelend.com – At 8:15 ADP May private jobs report hit hard; the consensus estimate was for an increase of 175K jobs, the reality hit like a ton of bricks- job growth according to ADP was up just 38K. Hard to ignore the reality that jobs aren’t recovering. This sends money into US treasuries giving us [...]
Choicelend.com – With all the bearish news over the weekend from China to Germany to France to the BRICs to Greece to Spain and here in the US with the Chicago Fed economic index reading negative; the safety moves to US bonds will keep mortgage rates lower. Now is the time to lock a great [...]
Choicelend.com – The ten year treasury yield reached the low 3′s today pushing mortgage rates to a new low this year. Traders are confused about this market dynamic as the experts were predicting yields in the 4.5% range by this time. Make no mistake, we were heading in that direction and this may be a [...]
Choicelend.com – Mortgage rates are unlikely to go much lower at this time. The 10 year bond has been testing 3.14 but has not been able to break through. Risk is to the upside.
Choicelend.com – Mortgage rates improved by investors fleeing to safety. Is it an over-reaction? It may be, Japan has a great deal of US Treasuries and may need to sell them to raise cash for the re-construction. It they do rates will go up. Take this opportunity to lock in on this unfortunate dip.
Choicelend.com – News China continues to slow down hit the stock market hard sending investors into the safety of treasuries helping to improve mortgage rates. Spain was downgraded (again), Libya continues it’s civil war and our own citizens continue to struggle in finding jobs. This pullback will test our lows, great time to lock.
Today, the Treasury will auction $29 billion of 7 yr notes, yesterday’s and Tuesday’s 5 yr and 2 yr auctions were not the best in terms of demand. Some are beginning to question whether foreign investors are backing away from US debt; if today’s 7 yr suffers weaker demand look for that question to gain [...]
