Posted by 101livescan on 9/17/12 7:54am
Msg #434698

Great mortgage news!

From Source of Title email I received this morning:

Core Logic: Home Prices Register Largest Gain Since 2006
CoreLogic, a leading provider of information, analytics and business services, has released its July Home Price Index, showing home prices, including distressed sales, increased on a year-over-year basis by 3.8 percent in July 2012 compared to July 2011-- the largest year-over-year increase since August 2006.

MBA Weekly Report: Mortgage App Volume Increases
Mortgage applications increased 11.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 7, 2012. This week’s results include the customary upward adjustment for the Labor Day holiday, which may have exaggerated the weekly increase.

Reply by OR on 9/17/12 9:13am
Msg #434704

Re: Great mortgage news! Tks

Thanks Cheryl. I was looking for the same information on Rate lock. Here is the explantion that I got from them and yes it is great new.

This Week; markets should calm a little after last week’s FOMC statement that sent MBS markets screaming higher in price and mortgage rates lower. The Fed’s open-ended commitment to buy $40B a month of mortgage backed securities lit a fire under investors to continue selling treasuries and launch heavy buying of MBSs. The 10 yr note yield felt the pain, the yield on the 10 yr increased 20 basis points last week. 30 yr FNMA 3.0 coupon increased 73 basis points frm the close on Wednesday, the day before the FGOMC statement.

Reply by 101livescan on 9/17/12 9:28am
Msg #434706

Re: Great mortgage news! Tks

It's all good news, about time, huh? It's going to be a great business with lots of opportunity from now, well, until they change things again.

Reply by KimmyMD on 9/17/12 7:53pm
Msg #434777

Re: Great mortgage news! Tks

This is just the news I have been waiting, and waiting ..... for. Glad I held out. You too!