Massachusetts Mortgage Rate Commentary 11/9

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Monday’s bond market has opened up slightly despite early stock gains. The stock markets are rallying this morning, pushing the Dow to a one year high. It is currently showing a gain of 140 points while the Nasdaq is up 50 points. The bond market is currently up 3/32, which should improve this morning’s mortgage rates by approximately .125 of a discount point.

There is no relevant economic data scheduled for release today. In fact, there is no relevant data scheduled until Friday morning. There are two important Treasury auctions this week that may influence …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

MA Mortgage Rate Commentary- The week ahead

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

This week brings us the release of only two relevant economic reports but neither of them is considered to be highly important. There are two important Treasury auctions this week that may influence mortgage rates more than the minor economic data that is scheduled. It is also a holiday-shortened week with …

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Massachusetts Mortgage Rate Commentary 11/6/09

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Friday’s bond market has opened in positive territory following the release of weaker than expected employment figures. The stock markets are reacting relatively well to the news with the Dow up 10 points and the Nasdaq up 8 points. The bond market is currently up 8/32, which should improve this morning’s mortgage rates by approximately .250 of a discount point.

The Labor Department reported this morning that the U.S. unemployment rate spiked to 10.2% last month, reaching its highest level since April 1983. Analysts were expecting to see it move slightly to 9.9%. The number of jobs lost during the month stood at …

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly.

FANNIE MAE ANNOUNCES “DEED FOR LEASE” PROGRAM

11/5/09
Fannie Mae announced a new foreclosure prevention program that is called the “Deed for Lease Program”. This program was designed to help struggling borrowers facing foreclosure to stay in their homes.
The borrower must transfer the property back to the lender through a “deed in lieu of foreclosure” and then they may be able to lease the property from the lender. This program was designed for borrowers who could not take advantage of a refinance or loan modification and are facing foreclosure.
“This new program helps eliminate some of the uncertainty of foreclosure, keeps families and tenants in their homes during a transitional period, and helps to stabilize neighborhoods and communities” according to a statement from Jay Ryan, Vice President of Fannie Mae.
For a list of guidelines, qualifying criteria and answers to other frequently asked questions visit Fannie Mae’s website

Massachusetts Mortgage Rate Commentary 11-05

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Thursday’s bond market has opened down slightly following another stock rally. The stock markets are showing strong gains with the Dow up 182 points and the Nasdaq up 42 points. The bond market is currently down 5/32, which will likely keep this morning’s mortgage rates near yesterday’s levels.

This morning’s release of the 3rd Quarter Productivity data gave us favorable results. It showed a spike in productivity of a 9.5% increase. This was much stronger than expected, but that is good news for bonds for this type of data. Strong levels of…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

MA Mortgage Rate Commentary 11.04

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Wednesday’s bond market has opened in negative territory again as investors prepare for today’s FOMC news. Early stock gains are also contributing to this morning’s bond losses. The Dow is currently up 99 points while the Nasdaq has gained 14 points. The bond market is currently down 7/32, which will likely push this morning’s mortgage rates higher by approximately .125 of a discount point compared to yesterday’s morning rates.

There is…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Mass Mortgage Rate Commentary 11/02

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Monday’s bond market has opened in negative territory due to early stock strength and stronger than expected economic news. The stock markets are starting the week with sizable gains. The Dow is currently up 104 points while the Nasdaq is showing a 15 point gain. The bond market is currently down 6/32, but we will likely see little change to this morning’s mortgage rates due to strength late Friday.

Today’s only relevant economic data came from the Institute for Supply Management (ISM), who said that their manufacturing index stood at 55.7. This was higher than the 53.0 that was…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com