Hoboken Real Estate News
The Hoboken & Downtown JC Open House Google Map for Saturday, May 19th & Sunday, May 20th, 2012
The Original and Best Open House Google Map! Courtesy of the Turoff Realty Team No need to register! No form to fill out! Just click on the map below to see every Open House in Hoboken this weekend: Click HERE to see the Downtown Jersey City Open House Map When you look at the maps, place markers are color coded: Studios [...]
The Weekly Wednesday Wrap-Up – Hoboken Condo Sales and Activity for the Week of May 16th, 2012
Show me the links please Yes, please, I would like the post with links! Your Name(required) Email(valid email required)   This Week’s Condo Sales & Activity versus last week’s: 252 active Hoboken condo units – vs. 246 last week 8 DABOs (Deposit Accepted By Owner i.e. under contract) vs 14 last week 7 Sold vs. 15 last week 39 New listings vs. 28 last [...]
Mortgage News Daily: Micro News
MBS Hit Lows After TSY Close, Late-Day Stock Bounce
Equities markets have largely been friendly for bonds today, but a big double bounce on the lows in the S&P right before and after the 3pm Treasury market close has bond markets looking a bit frazzled. S&P futures are up a quick 5 points and 10yr yields are up about 1.5 bps in the same time frame. Thus far, MBS have only shed 2-3 ticks in Fannie 3.5's from 104-19 / 104-20 to 104-17 currently.

After the initial scoot higher, 10yr yields aren't immediately bouncing lower, though MBS saw solid bid-side support at 104-16--same as this morning just before 11am. For all but the jumpiest of lenders and/or most sensitive situations, we'd probably keep the "time to think about locking" line in the sand at 104-16, as it has been since the first update this morning, but it's not out of the realm of possibility that one of the traditionally early-to-act lenders would justify a small negative reprice on such a move. Best bet, keep using 104-16 as a line in the sand, and adjust accordingly based on what you know about the lender in question.
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The Facebook Effect: Stock Lever Causing Volatility for Bonds
Stocks fell quickly to the lows of the day as Facebook fell from $42.05 open to the IPO price of $38/share. Bond markets initially firmed up on the stock slide, but have since bounced back into the morning's previous range. Although Treasuries are still in line with what had been their strongest levels before the Facebook shake-up, MBS are less-than-thrilled by the volatility.

Fannie 3.5's briefly surged to 104-22, fell back to 104-17 and are currently at 104-19. Too soon to say how this will shake out, but bond markets clearly remain cognizant of equities. We'd continue to keep an eye on 104-16 as the line in the sand of increasing negative reprice risk in Fannie 3.5 MBS. Although one lender repriced positively already, we'd want to see a break above 104-20 sustained for more than a fleeting moment before feeling optimistic about seeing more.
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Mortgage News Daily: Video News
The Week Ahead
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CNBC's Sue Herera looks ahead to what are likely to be next week's top business and financial stories.
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Billionaire: How I Never Lose on Wall Street
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Billionaire Alex Rovt is one of the wealthy people who are putting down millions to buy commercial and residential real estate in the United States. Many of the buyers are from Eastern Europe. Erica Ferrari reports on what's behind the trend.
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Mortgage News Daily: Around The Web
Big Week On Tap for Housing
Some big housing numbers are expected next week: Existing-home sales, new-home sales and quarterly results from Toll Bros....(read more)

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House Overwhelmingly Passes Cummings Amendment to Extend Foreclosure Protections to ...
Cummings also Succeeds on Amendment to Increase Diversity, Curb Hazing Washington, DC (May 18, 2012)-Today, the House passed by a vote of 394 to 27 an amendment to the National Defense Authorization Act (NDAA) introduced by Rep. Elijah E. Cummings, Ranking Member of the Oversight and Government Reform Committee, Rep. Bob Filner, Ranking Member of the Veterans Affairs Committee, and Rep. Adam Smith, Ranking Member of the Armed Services Committee, that significantly expands foreclosure protections for servicemembers, their families, and disabled veterans. "Our troops fighting overseas in Iraq or Afghanistan should not also have to fight here at home just to keep a roof over the heads of their loved ones," Cummings said. "This bill expands current law to protect more of our brave...(read more)

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Mortgage News Daily: Daily Newsletter
Implications Of Flat Fee Pricing; All-Time Low Rates Again
May 18, 2012 9:33AM

A Note on The Implications Of Flat Fee Pricing; Lender Updates Continue; Ready For Another Refi Wave?

Facebook...Facebook...Facebook...I guess the financial press is tired of discussing things like Europe's woes. ( Even today's closing paragraph at the bottom is about Facebook. ) Say what you want, but it is influencing real estate down in San Francisco . To help keep things in perspective, I received this note about small improvements in the price of real estate in various markets: "If I reduce your wages by 259797,000 a month for 5 years but finally, in one month, give you a raise of 0.2% in February...

May 18, 2012 2:41PM

Mortgage Rates Lower Still, But Progress Is Slow

Mortgage Rates improved marginally from yesterday's new all-time lows. Without any major scheduled events to digest, bond markets were left to their own devices and paid a decent amount of attention to a sell-off in stocks. When yields in the broader bond markets move lower, MBS (the "mortgage-backed securities" that most directly influence lenders' rates) tend to move lower in yield as well, allowing lenders to off lower costs, lower rates, or a combination of the two. With the recent move lower...


Micro News

3:15 PM:

MBS Hit Lows After TSY Close, Late-Day Stock Bounce

12:08 PM:

The Facebook Effect: Stock Lever Causing Volatility for Bonds

11:01 AM:

MBS Bounce at Session Lows, Looking For Support

10:11 AM:

Bond Markets Slightly Weaker, but Holding Ground, No Data Ahead

2:05 PM:

MBS Continue Taking Out Record Levels As Duration Grab Is On!

11:29 AM:

Philly Fed Market-Movement or Just a Symptom of QE3 Expectations?

10:13 AM:

Fixed Mortgage Rates Hit Record Lows Again - Freddie PMMS

10:09 AM:

ECON: Leading Indicators Decline First Time in 7 Months

Around the Web

Video News

The Week Ahead

Billionaire: How I Never Lose on Wall Street

Euro Headed to Parity With U.S. Dollar; Pound


Today's Comments

Frank Ceizyk

"Competition--You're putting together the cliched conspiracy theory pieces that are misdirectional drivel. Financial bubbles happen because really financially..."

Rob Migasi

"Regarding Fifth Third and HARP 2.0. The changes you mentioned are for Correspondent and Wholesale channels only. Retail is still offering HARP 2.0."

Dan  Frio

"LO compensation. Who is actually effected with any new legislation. The big banks and mortgage bankers do business as usual. They charge what they want..."

Today's Q&A

"FHA case # assignment prior to June 9th"

"How to choose the proper class for my swtor character ?"

"MBS data"

Market Data

Mortgage Rates

30YR 3.80 -0.01
15YR 3.08 -0.01
FHA30YR 3.73 -0.01
Jumbo30YR 4.10 -0.01
5/1ARM 3.00 -0.01

MBS Quotes

30YR FNMA 3 104-15 -0-07
30YR FNMA 4 106-04 -0-04
30YR FNMA 4 107-03 -0-04
30YR FNMA 5 108-13 -0-03

Treasuries

2 YR 0.2984 0.0004
3 YR 0.4135 0.0105
5 YR 0.7492 0.0222
7 YR 1.1631 0.0231
10 YR 1.7243 0.0343
30 YR 2.8079 0.0259


Recent Housing Data

Visit our Market Data Center for all of the latest housing numbers, graphs, etc.

Building Permits -7.02%
Housing Starts 2.58%
Construction 0.10%
Mortgage Application 9.18%
Mortgage Refinance 12.97%
Mortgage Purchase -2.38%

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Mortgage News Daily: Mortgage Rates Update
Daily Update: Mortgage Rates Push Slightly Further Into All-Time Lows
Average Mortgage Rates
 TODAYYESTERDAYCHANGE
30 Yr FRM 3.80 3.81 -0.01%
15 Yr FRM 3.08 3.09 -0.01%
FHA 30 Year 3.73 3.74 -0.01%
Jumbo 30 Year 4.10 4.11 -0.01%
5/1 Yr ARM 3.00 3.01 -0.01%
» View Current Mortgage Rates
» Compare Mortgage Rates
Updated: 5/18/12 2:40 PM
May 18, 2012 2:41PM

Mortgage Rates Lower Still, But Progress Is Slow

Mortgage Rates improved marginally from yesterday's new all-time lows. Without any major scheduled events to digest, bond markets were left to their own devices and paid a decent amount of attention to a sell-off in stocks. When yields in the broader bond markets move lower, MBS (the "mortgage-backed securities" that most directly influence lenders' rates) tend to move lower in yield as well, allowing lenders to off lower costs, lower rates, or a combination of the two. With the recent move lower...

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The Week Ahead

Billionaire: How I Never Lose on Wall Street

Euro Headed to Parity With U.S. Dollar; Pound

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© 2012 Brown House Media, Inc. All rights reserved.
Brown House Media Inc. - 19706 One Norman Blvd - Cornelius, NC 28031

This information is not an advertisement to extend consumer credit as defined by Section 226.2 of Regulation Z. This is not an offer to enter into an agreement regarding interest rates. The rates quoted do not include discount points, origination points, or loan level risk based price adjustments.  Rates and terms are subject to change without notice.

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Northstar Funding News
Mortgage Rates At New All-Time Low
Both 30- and 15-year mortgages reached record lows Long-term mortgages were introduced to the U.S. market in the 1950s — and the 3.83 percent average for a 30-year loan reported by Freddie Mac last week is the lowest rate recorded since then. The average for a 15-year mortgage dropped to a record low of 3.05 percent. [...]