Mortgage Rate Watch

MORTGAGE RATES: Best Lock/Float Advice MND Can Offer July 30, 2010
I think it's safe to say that, consistently for the last 30 to 45 days, at least one lender (regional, major, or independent) has offered below market "record low" mortgage rates. Investor demand is consistently healthy for agency MBS, such that their prices are hitting new record highs on a daily basis. No lender faces a shortage of funding, […]
Adam Quinones
Can Mortgage Rates Go Any Lower? July 28, 2010
Well, here we are on "hump day" and mortgage rates are still detached from the price fluctuations of the secondary mortgage market. Instead, the ups and downs of consumer borrowing costs continue to be driven primarily by the capacity constraints of major lenders, the market makers for mortgage rates. One misconception is record low mortgage rates […]
Adam Quinones
Mortgage Rates Still Immune to Rising Benchmark Yields July 27, 2010
A much better than expected read on New Home Sales helped the stock market post strong gains yesterday. Typically, when stocks advance, their gains come at the expense of interest rates. While benchmark Treasury yields have risen over the last week, mortgage-backed securities have managed to retain their “flight to safety” bid. MBS prices are holding steady […]
Victor Burek
What Might Move Mortgage Rates in the Week Ahead? July 26, 2010
The road got a little bumpy, but last week came to a close with consumer borrowing costs once again priced near record lows. We were expecting the ups and downs of related markets to play a larger role in the behavior of mortgage rates, but in the end, lender loan pricing strategies did not follow the directional guidance offered by mortgage-backed securitie […]
Adam Quinones
Consumer Borrowing Costs Improve, Ignoring MBS Price Declines July 22, 2010
Mortgage rates broke their two day losing streak yesterday after lenders repriced for the better following sobering comments from the Chairman of the Federal Reserve. In his testimony, Ben Bernanke reiterated that the Fed's economic outlook is “unusually uncertain”. He went on to remind that inflation is trending lower, which is supportive of exceptiona […]
Victor Burek

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HUD Press Releases

U.S. DEPARTMENT OF THE TREASURY, U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AND THE AD COUNCIL UNVEIL NATIONAL PSA CAMPAIGN TO RAISE AWARENESS OF MAKING HOME AFFORDABLE PROGRAM July 28, 2010
NEW YORK, NY July 28, 2010 - The Advertising Council, in partnership with the U.S. Department of the Treasury and the U.S. Department of Housing and Urban Development (HUD), announced today the launch of a national public service advertising (PSA) campaign designed to encourage homeowners who are struggling with their monthly mortgage payments to learn about […]
OBAMA ADMINISTRATION AWARDS $19.5 MILLION TO PRODUCE MORE ASSISTED LIVING SENIOR HOUSING IN FOUR STATES July 27, 2010
WASHINGTON -Elderly Americans in Arizona, Maryland, New York and Ohio will soon find themselves living in upgraded apartments equipped to meet their physical needs because of $19.5 million in grants from the U.S. Department of Housing and Urban Development. HUD today announced the grants to help convert existing multifamily projects into assisted living faci […]
HUD SECRETARY ANNOUNCES DISASTER ASSISTANCE FOR KENTUCKY STORM VICTIMS July 26, 2010
WASHINGTON - U.S. Housing and Urban Development Secretary Shaun Donovan today announced HUD will speed federal disaster assistance to Pike County in Kentucky and provide support to homeowners and low-income renters forced from their homes following severe storms, flooding and mudslides. […]
OBAMA ADMINISTRATION ANNOUNCES CONFERENCE ON HOUSING FINANCE REFORM July 26, 2010
WASHINGTON - Today, the Obama Administration announced expanded opportunities for public engagement on the future of our nation's housing finance system, including Fannie Mae and Freddie Mac. These events, which will include a major conference in Washington, D.C., will help provide critical public input as the Administration continues its work developin […]
HUD CHARGES CHICAGO ARCHITECT, DEVELOPER WITH FAILURE TO BUILD APARTMENTS THAT ARE ACCESSIBLE TO PERSONS WITH DISABILITIES July 26, 2010
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) today announced that it is charging a Chicago developer and architect with housing discrimination for designing and constructing apartments that fail to meet the accessibility requirements of the Fair Housing Act. HUD's charge contends that Hector Castillo, Hector Castillo Architect […]