grauteam update | 2.26.2008 | 30F 6.375% 15F 6% 7/1[1pt] 5.125%
February 26, 2008
Inflation is the hot button this week. The Producer Price Index came in at a whopping 1.0% putting the overall year over year at 7.4%; the fastest rate of wholesale inflation since Read more
Market Watch | Jumbo to $1,500,000 from 3.125% RATES!
February 15, 2008
Mortgage Backed Securities have been slaughtered the last couple of weeks. The FNMA 30 Year 5.50% bond has fallen -187bp since February 7th when Richard Fisher announced the Fed was more than willing to continue cutting rates because they are really scared of inflation. The bond market fallout resulted in 30 year fixed rates moving from the 5.5 range to the +6.125% today.
There have been some very positive changes in the last couple of weeks for one segment of the market. Last year the investors ran for the hills when it came to Jumbo mortgages of all sorts. Some of them have been coming back!
1/1 Libor I/O Jumbo | 3.125% [1%] | 4.000% [0%]
3/1 Libor I/O Jumbo | 3.375% [3%] | 3.875% [2%] | 4.750% [1%] | 5.625% [0%]
5/1 Libor I/O Jumbo | 4.625% [2%] | 5.125% [1%] | 5.625% [0%]
7/1 Libor I/O Jumbo | 4.500% [3%] | 4.750% [2%] | 5.375% [1%] | 6.125% [0%] Read more
Bush signs the Stimulus Package… Now What?
February 13, 2008
It’s official. George Bush has signed the stimulus package. What does that mean for mortgages? There has been a lot of talk about the “Conforming Loan Limit” raising to $700,000+. Read more
Real Estate Marketing Flyers
February 12, 2008
This is a sample flyer that I can prepare for you at no cost. The Flyer should help potential buyers understand that payments can be significantly better than they may think. If you Read more
grauteam update | 2.12.2008 | 30F 5.75 7/1A 5.125%
February 12, 2008
Mortgage Backed Securities are a little off today, -28bp. Putting pressure on the long term fixed mortgages. There is no market moving economic news Read more
The ARMs are Back! | 5yr 5.125%… Jumbo 3yr 5.375%
February 7, 2008
One of the most abused loan products over the last 8 years that I’ve been in the business has been the BC 2 Year ARM with a nice prepayment penalty. I have always striven Read more
Mortgage Insurance credit policy Tightens… again
February 7, 2008
MGIC [Mortgage Guaranty Insurance Corporation] has tightened its credit policy again [effective March 3, 2008]. The days of 100% financing with credit scores Read more
MHDC 2008A 6.46% Cap 5.99% Non-Cap
February 7, 2008
The MHDC has announced rates for the 2008A Bond Issue. With the 3% state grant the rate will be 6.46% and without the grant the rate is 5.99%. The bond issue is for Read more
MHDC 2008A target date February 11, 2008
February 5, 2008
The MHDC’s [Missouri Housing Development Commission] next bond issue’s target date is 2.11.2008. Unless we see the kind of volatility we saw a couple weeks ago they should meet the target date. There will be some important changes to this issue. MHDC backed loans Read more
grauteam mortgage update | 2.4.2008 | 30F 5.625% 15F 5.250%
February 4, 2008
Mortgage Bonds have been inversely reacting to the Stock Market volatility. Since the only upcoming economic reports are not High Impact Read more
