OCC: Loan Modifications Rising Faster than Delinquencies?
Wednesday, September 30th, 2009The Office of Thrift Supervision and the Office of Comptroller of the Currency reported on Tuesday that mortgage delinquencies and foreclosures are still rising but efforts to keep borrowers in their homes are increasing at an even faster pace….(a href=”http://www.mortgagenewsdaily.com/09302009_occ_loan_modifications_rising_faster_than_delinquencies.asp”read more/a)img src=”http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=110127″ width=”1″ height=”1″
Mid-Day Recap: Stocks Sell After Weak PMI Read. Reverse Course Following Oil Rally
Wednesday, September 30th, 2009The stock market turned ugly this morning after an index from the windy city reported that business conditions were back in the red. An earlier report indicating that the labor market was worse than forecasts in September had laid the groundwork for the sell-off. Within a few minutes all three indexes fell more than 1%, and by 11:30 the Samp;P 500 was down 0.77% to 1,052, the Dow was trading 0.77% lower to 9,671, while the Nasdaq was down 0.66% to 2,109.
However, shortly thereafter commodities prices began to rally and stocks bounced off a key technical support level, recovering almost all of the intraday losses. …(a href=”http://www.mortgagenewsdaily.com/09302009_chicago_ism_mid_day_recap.asp”read more/a)img src=”http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=110097″ width=”1″ height=”1″
Mortgage Market News
Wednesday, September 30th, 2009Mortgage market is doing well.
30-yr rates are back near 5%, depending on if the borrowers wants to
MBA: Mortgage Rates Hold Below 5.00%. Loan Demand Falls
Wednesday, September 30th, 2009Mortgage rates remained below 5% for the second week in a row, yet the low rates fail to spur increased appetite for refinancing, new loans, or purchases, an industry survey said Wednesday.
The Mortgage Bankers Association said the average rate for a 30-year mortgage fell three basis points to 4.94% in the week ending September 25 ― the lowest rate since early May. Yet, even with the $8,000 tax credit for first-time home purchasers expiring soon, loan applications decreased by 2.8% in the week….(a href=”http://www.mortgagenewsdaily.com/09302009_mba_mortgage_applications.asp”read more/a)img src=”http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=110050″ width=”1″ height=”1″
The Day Ahead: ADP Jobs, GDP, Chicago PMI
Wednesday, September 30th, 2009It’s one day before the start of the fourth quarter and global stock markets are rallying. US equity futures are looking to erase yesterday’s losses, and with appetite for stocks back in favor the US dollar is weaker this morning, though Treasury yields are lower across the curve.
The main events today are the ADP private jobs survey, a regional business index from the midwest, and a speech from Dennis Lockhart (president of the Atlanta Fed)….(a href=”http://www.mortgagenewsdaily.com/09302009_adp_jobs_gdp_chicago_pmi.asp”read more/a)img src=”http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=110052″ width=”1″ height=”1″
Mortgage Loan Relief Eligibility
Wednesday, September 30th, 2009If you have fallen behind in your mortgage payments or are scared of default you could be a candidat
Fannie Mae’s Portfolio Unchanged in August. Delinquencies Rising at Faster Rate
Tuesday, September 29th, 2009In their monthly summary, Fannie Mae today said their retained portfolio was unchanged at $779.4 billion in August of 2009. This follows an 18.2% contraction in July and brings Fannie Mae#39;s year to date portfolio growth to a rate of -1.5%. Last week Freddie Mac reported their retained portfolio contracted by almost 30% to $779.4 billion in August. Year over year Freddie Mac#39;s portfolio has shrunk by 4.7%…(a href=”http://www.mortgagenewsdaily.com/09292009_fannie_mae_delinquencies.asp”read more/a)img src=”http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=109861″ width=”1″ height=”1″
Mid-Day Recap: Stocks Flat After Weak Consumer Confidence Data
Tuesday, September 29th, 2009After an unexpected drop in consumer confidence spurred on a stock sell-off this morning, all three equity indexes are clawing their way back to unchanged. As of 1:30 eastern, the Samp;P 500 is up 0.09% to 1,063, the Dow is trading 0.01% lower at 9,779, and the NASDAQ is 0.04% lower at 2,129….(a href=”http://www.mortgagenewsdaily.com/09292009_case_shiller.asp”read more/a)img src=”http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=109863″ width=”1″ height=”1″
Case-Shiller: 18 of 20 Cities Report Higher Home Prices in July
Tuesday, September 29th, 2009Home prices continued to stabilize in 18 of the 20 metropolitan areas surveyed in July, an industry survey showed Tuesday. Thirteen of the 20 metro areas have seen prices increase for three or more consecutive months, indicating that the deflationary spiral in the housing market has likely come to an end. (Well, assuming you don#39;t live in Las Vegas…)…(a href=”http://www.mortgagenewsdaily.com/09292009_s_p_case_shiller_home_prices.asp”read more/a)img src=”http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=109811″ width=”1″ height=”1″
The Day Ahead: Home Price Index, Consumer Confidence, Retail Surveys, Fed Speakers
Tuesday, September 29th, 2009Stock prices are trading lower this morning after yesterday’s blistering 1.78% gain. Commodity prices are mixed with oil slightly above $66, well below a recent peak of $74, but still almost a third higher than one year ago. The US$ is a tad higher on a trade-weighted basis, while the euro remains soft. Yields on the benchmark 10-year Treasury are down four basis points to 3.28%.
The Tuesday schedule brings a variety of flavors to the market’s menu. Second-tier retail reports should give a sense of how consumption is holding up as September comes to a close; a key look at home prices is expected to indicate that the long deflationary spiral has hit a bottom; the consumer confidence report will say present conditions remain soft but expectations are rising; and two officials from the Federal Reserve assess the economic outlook….(a href=”http://www.mortgagenewsdaily.com/09292009_home_prices_confidence.asp”read more/a)img src=”http://www.mortgagenewsdaily.com/aggbug.aspx?PostID=109791″ width=”1″ height=”1″
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