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http://www.MortgageNewsDaily.com/9212006_Lending_Report.asp
The Federal Reserve Board recently released the latest in a series of occasional reports on mortgage lending based on data collected under the 1975 Home Mortgage Disclosure Act (HMDA). The law, broadly amended in 1989 and several times since, requires most mortgage lending institutions with offices in metropolitan areas to disclose information about the geographic location, the income, sex, and race or ethnicity of individuals applying for credit...
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http://www.MortgageNewsDaily.com/9202006_Mortgage_Rates.asp
After a single "up" week, long term interest rates have resumed the slow downward pattern that began the week ending July 20.
Freddie Mac's Primary Mortgage Market Survey for the week ended September recorded an average rate of 6.43 percent for the 30-year fixed-rate mortgage. This is...
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http://www.MortgageNewsDaily.com/9192006_Housing_Market.asp
Two monthly housing market indicators have been released so far this week, both relating broadly to home construction and showing a continued slowing of the housing sector and a related loss of builder confidence.
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http://www.MortgageNewsDaily.com/9152006_Mortgage_Delinquency.asp
The results are too subtle (and also presented in an incredibly confusing format) to determine if rate shock is starting to take its toll on American homeowners, but, looking beyond the cheerful lead paragraph, "The delinquency rates for mortgage loans ...were down 2 basis points from the first quarter..." The National Delinquency Study (NDS) released by The Mortgage Bankers Association this week is a little disquieting.
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http://www.MortgageNewsDaily.com/9122006_Housing_Cooling.asp
"A Cooling Trend" was the title given to Freddie Mac's September 2006 Economic Outlook released recently. In keeping with the seasonal theme, the report, issued by the Office of the Chief Economist, projected a cooling trend for the balance of the year, "with occasional frost and warmer conditions as we move into next spring."
Too cute by half, but the report goes on to emphasize the importance the housing sector has been to the overall economy during the recovery from the 2001 recession. In fact...
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http://www.MortgageNewsDaily.com/9112006_Option_ARM_Mortgage.asp
The concept of rate shock is getting a lot of press and a portion of it is pretty scary. BusinessWeek.com has just published a stunning article that postulates that the fallout from "exotic" mortgages - i.e. interest only and option mortgages - will reach far beyond homeowners who took on these obligations either not understanding the ramifications or thinking they could game the system. According to the article Nightmare Mortgages...
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http://www.MortgageNewsDaily.com/972006_Housing_Report.asp
We have often said that the quarterly Office of Housing Enterprise Oversight (OFHEO) Home Price Index (HPI) report is one of the most interesting of the dozens of surveys and measures of the housing market that come out every month, quarter, or year.
...The unknown report "is probably the best overall indicator of what is happening overall to home values. We think it is the most important number coming out next week," said David Berson, chief economist at Fannie Mae.
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http://www.MortgageNewsDaily.com/952006_Refinance_Mortgage.asp
Now that the housing bubble has officially started to deflate we can turn our worries to the newest wiggle: Rate Shock.
At least three of the major television and cable networks have run stories in the past week about the danger confronting homeowners with adjustable rate mortgages when those rates adjust. Experts estimate that 25 percent of all loans are adjustable rate mortgages and billions of dollars worth of these will adjust in the next year. Because of compounding factors such as rising energy costs, static wages, and a softening housing market, these adjustments may just price many people out of their own homes.
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http://www.MortgageNewsDaily.com/9132006_Mortgage_Rates.asp
Mortgage rates reversed a six week downward trend, increasing slightly during the week ended September 7 according to the Weekly Primary Mortgage Market Survey released by Freddie Mac.
Frank Nothaft, Freddie Mac vice president and chief economist said "We expect that mortgage rates will continue to fluctuate as new economic data are released, but...
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http://www.MortgageNewsDaily.com/962006_Mortgage_Rates.asp
Once again Freddie Mac is reporting that mortgage rates are down from the preceding week and have now reached levels not seen since late March and early April.
Frank Nothaft, Freddie Mac vice president and chief economist said, "Mortgage rates continued to drift lower this week in large part because of the cooling in the housing market and in consumer confidence, thus giving financial markets reason to believe that...
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