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Blog
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'Pokemon Go' Could Help You Sell Your House

28 Jul 2016 17:30:00 +0000

Diana Olick reports how realtors are using "Pokemon Go" to help sell houses.

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How To Pay Off Your Mortgage Early & Should You Pay Off Your Mortgage

22 Jul 2016 18:30:00 +0000

There are many things homeowners can do to pay off their mortgage early. This is why it pays to have top financial planners in your corner. It's their jobs to dissect your financial situation, and help you achieve your goals more quickly. Everyone is looking for ways to pay off the mortgage on their homes but completely avoid small things that make a huge difference. Watch this episode where top financial planner Jeff Gregory of Desjardins Financial explains how to pay off your mortgage faster, and ways you can also save for retirement

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6 Mistakes To Avoid When Refinancing Your Mortgage

16 Jul 2016 18:00:00 +0000

Mistake 1Make sure the loan officer that you are working with is qualified to help you with mortgage refinance. The same way you ask loan officers for their rates, ask them about what experience they have, whether they are licensed or not, and whether they hold any industry certifications. It's true that many states have absolutely no licensing, education or experience requirements for loan officers, and some loan officers are hired off the streets without even a background check. Are you willing to entrust one of the most important financial decisions of your life, and your personal confidential information in the hands of someone who does not adhere to any standards whatsoever? I encourage you to ask the lender about the background of the company and the individual whom you are working with. Then use good judgment to make a decision about whether or not to do business with them.Mistake 2If it seems too good to be true than it probably is: I always like to remind people of that. I advise you to ask more questions and try to find the catch. If the rate seems really low then look to see if there are any extra fees. Check whether there is a prepayment penalty on the loan. If the fees are reduced, check whether they are built in to a higher interest rate. Also, find out what your mortgage rate lock terms are, and make sure you are able to close the refinance before the lock expiration date.Mistake 3Understand that the mortgage rates and the closing costs are directly linked to each other: This one is simple, but confuses a lot of people. Lower the mortgage rate, higher the fees. Higher the mortgage rate, lower the fees. If the ongoing interest rate for a 30 Year Fixed Mortgage is at 6.00% than you can probably get 5.75% by paying additional lender fees commonly known as "points" or you can probably take 6.25% and have the lender pay for some or all of your fees. Ask your lender about these options because you need to look at different variations to calculate the best break-even point for the refinance.Mistake 4Understand what the mortgage rates are based on: The mortgage rates are linked directly to Mortgage Backed Securities or Mortgage Bonds that trade in the Bond Market, and are not linked to the U.S. Treasury 10yr. Note. I repeat, Mortgage rates are not linked to the U.S. Treasury 10yr. Note. While, The Treasury 10yr. Note and Mortgage Bonds both trade in the Bond Market, they are completely independent from each other, and quite often trend in different directions from each other. Just because the yield on the Treasury Note drops it does not mean that mortgage rates are going to drop as well. I can't stress it enough this is probably the BIGGEST MISCONCEPTION out there regarding mortgage rates. I've met people who have been in the industry for years and they still think rates are linked to the Treasury Note. Do Not work with a lender who is tracking mortgage rates by keeping their eye on the WRONG INDICATOR because they will NOT be able to properly advise you on a suitable time for Locking or Floating your mortgage rate. This mistake can cause you to miss out a GREAT opportunity to secure in a LOW mortgage rate for your refinance.Mistake 5Understand how economic indicators impact Mortgage Rates: Now that we have established that mortgage rates are linked directly to Mortgage Bonds, so the pricing of mortgage bonds is what causes the mortgage rates to fluctuate. If mortgage bond prices rise then rates come down, and if bond prices fall then rates go up. One of the major factors that impact mortgage bond pricing is the upcoming economic indicators that are scheduled to release. As you may know, that bonds & stocks usually have an inverse relationship with each other. Normally, good news for the stocks is bad for bonds, and bad news for the stocks is good for bonds. Think about it, a healthy stock market is usually a good indication of a sound economy.Investors are more willing to invest money in stocks when companies are beating earnings, unemployment is low, and when economic indicators are pointing to higher levels of growth. In good times investors can experience 50%, 70% or even over 100% returns in the stock market versus the usual 4% - 6% return on mortgage bonds. Why in the heck would you put money in a 4% yielding mortgage bond when your stock investment is giving you a 50% return. In this situation more investors will be allocating their money in the stock market, causing the demand for mortgage bonds to decrease. Low demand will cause mortgage bond prices to fall, which in turn will cause mortgage rates to rise. On the contrary, if the economy slows down, unemployment rises, and companies do not meet their earnings.All this negative data will cause the stock market to fall, and investors to allocate their money to a safe harbor of bonds. In this case a 4% return on your money from a safe bond investment is better than a potential loss that you may suffer from the risky stock investment. So, in bad economic times investors pull their money out of stocks and park it in bonds for safety. While, in good times they pull it out of bonds and invest it in stocks for higher returns. Therefore, good economic news will cause stocks to rise and bonds to fall while bad news will usually do the opposite. A professional loan officer would have the schedule of all the upcoming economic indicators on his finger tips, and would be able to advise you on how the data will impact the mortgage rates. Work with someone who is qualified to advise you in this matter.Mistake 6Maintain a short breakeven point: Breakeven point the means to calculate the amount of time it will take to reap the benefits of your refinance. Breakeven point = total closing costs/monthly payment savings. For example: If you are currently on a 30 year fixed mortgage in the amount of $200,000 @ 7.00% your monthly payment is $1330.60, and if you were to refinance to a 30yr. fixed mortgage at 6.00% your payment will be $1185.85. Let's assume that your refinance closing cost is $3000. In this scenario you will be saving $144.75 on a monthly basis, so you divide $3000 by $144.75 which equals 20.7 months.That means it will take you almost 21 months to break even the cost of the refinance. Let's say that if you were to take 6.25% the lender will pay for all you closing cost, so in this case your breakeven point is the very next day. Remember mortgage rates and closing costs go hand and hand. I recommend going with an option that has the lowest breakeven point because majority of the mortgages in the U.S. are kept for less than 5 years. Even if you are planning on living in the house for a long time you may not end up keeping the mortgage for that time. Many things can happen, the mortgage rates can go down, you may get a promotion where current mortgage strategy might not be the most suitable for your needs, or you many need to pull some cash out of house. In any case you need to make sure you keep your breakeven point as short as possible.Article Source: http://EzineArticles.com/2521679

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Mortgages : How Do Mortgages Work?

07 Jul 2016 18:30:00 +0000

Mortgages are basically a repayment that encompasses real estate and which are based on monthly payments that go towards principle. Discover how adjustable-rate and fixed-rate mortgages work with tips from a licensed mortgage broker in this free video on personal finance and real estate.

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Helpful Reverse Mortgage Information For Potential Borrowers

28 Jun 2016 17:30:00 +0000

As people live in their homes for many years, the thought of utilizing the equity is often a consideration. This extra money is often used for major expenses, such as house renovations, education costs, or to pay off debt. A reverse home mortgage is an option for those who have owned a house for many years. There is quite a bit to know about the process, so the following is pertinent reverse mortgage information that may be helpful.What Are Reverse Mortgages?This payment arrangement is a specialized loan that allows homeowners to change a portion of their equity into a liquid asset. This equity that builds up over years of making payments on a loan can be paid out to the owner. Many people confuse this with a standard home equity loan. There is a significant difference, however. With this type of arrangement, borrowers are not required to repay the money until the borrowers are no longer living in the house as their primary residence.What Is the Difference Between a Home Equity LoanIn addition to the above, there are some additional differences between these two arrangements. With a standard equity borrower, the homeowner must make regular monthly payments on both the principal and the interest. A reverse mortgage is different in that it pays the homeowner. There are no payments to be made. The owner, however, will be required to pay all utilities, insurance premiums, and real estate taxes.What Type of Loans Are Eligible?The house must be a single-family dwelling or a unit with at least one unit occupied by the borrower to be eligible for this type of equity loan. Condominiums and any manufactured dwellings that meet FHA standards are also eligible. All reverse mortgage information and requirements must be followed in order to qualify.Will the House Be Inherited?One primary piece of information people have questions about is whether or not the house can be inherited after taking out a reverse mortgage. Once the house is sold or is no longer being used as a primary residence, the money paid out, the finance charges, and the interest must be repaid. Any additional money will belong to the estate and can be transferred to heirs. There will be no debt passed into the estate.Can the Arrangement Be Cancelled?According to federal law, the owner has three calendar days to change their mind and cancel out the loan. This process, called a three-day right of rescission, will be included in the reverse mortgage information provided by the lender. Always reiterate the need for this information and have it thoroughly explained. Lenders will often differ on how they approach this process. Make sure to have all contact information for the person or people who will be handling the cancellation as well as a copy of the lender's policy.This reverse mortgage information is just the tip of the iceberg. It is crucial to discuss the process with a reputable lender to ensure there are no questions before moving forward.Article Source: http://EzineArticles.com/9332301

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How To Use Home Equity To Renovate Your Home

19 Jun 2016 17:30:00 +0000

Watch this episode with Realtor Joe Terceira & mortgage broker Tracey Brock to find out more about how to use home equity to renovate your home.

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How To Obtain a Mortgage : What Is An Escrow Account?

13 Jun 2016 18:00:00 +0000

Lenders like you to escrow to protect their investment. Learn tips for obtaining a mortgage in this free personal finance video from a loan officer and mortgage closing specialist.

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3 Summer Sangria Recipes

07 Jun 2016 17:30:00 +0000

Today we're making 3 homemade sangria recipes including a cucumber sangria, a peach sangria and a pomegranate sangria!

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What Is A Mortgage

01 Jun 2016 17:30:00 +0000

What is a mortgage?Mortgages exist to solve a problem. Most people want to buy their own home, but a house costs hundreds of thousands of dollars, and you likely don’t have that kind of cash lying around in the crevices of your sofa. You’d have to work and save for decades to get that much money, and in the meantime you could easily end up paying out more in rent than the cost of the house you wanted to buy.So to enable people to buy a house before they are too old to remember why they wanted it in the first place, we have the mortgage system. A mortgage is just a type of loan, pure and simple. If the house you want to buy costs $100,000, then you could pay $10,000 from your savings (that’s called the downpayment), and borrow the remaining $90,000 from the bank.So if it’s that simple – just a housing loan that you pay back over time – why all the fuss and complexity around mortgages? Well, mortgages come in more flavors than Ben & Jerry’s ice cream, and not all of them taste good. You’ve got ARMs and balloon mortgages, fixed-rate loans and interest-only loans, bridge loans and refis and reverse mortgages.

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How To Save On Taxes When Selling Your Home

26 May 2016 16:00:00 +0000

If you have resided in your home for at least two to five years as your primary residence and you sell it, you could gain as much as $250,000 if you are single and $500,000 if you are married and not owe the Internal Revenue Service.If you live in the home as a primary residence for less than two years, you might still be able to avoid taxes through reduced gain exclusion.  The reduced exclusion is based upon an Internal Revenue Service equation that uses the amount of time you actually resided in the home as your primary residence as the numerator and the denominator is the two required years.  By using this formula you calculate the exact amount of the gain exclusion.  You qualify for the exclusion if you can prove that the premature sale took place because of health problems, a change in employment status, or extenuating circumstances beyond your control.If you state health as the reason for the premature sale, you must be moving in order to procure treatment or a cure for a disease, or to seek other medical care.  The qualified individual must be someone who resides within the home as his or her primary residence.  If you have a doctor's validation of the health circumstances, the exclusion is usually granted immediately.If employment is cited as the cause for the premature sale, you must have to move at least fifty miles away from the residence in question.  There are no exceptions to this rule.  You can try, but if you are not moving at least fifty miles away, chances are the exclusion will not be granted under these conditions.If you claim unforeseen circumstances as the cause for the premature sale, your reasons could vary widely.  Death and divorce qualify as unforeseen circumstances.  A natural or man-made disaster would qualify under unforeseen circumstances.  If something intense happened that forced you to sell your home, the chances are good that you qualify under unforeseen circumstances.  The qualifying individual under unforeseen circumstances is anyone who resided in the home as their primary residence.If you use your home as a business or rental property, the entire house qualifies for the exclusion gain.  Only if your gain was attributed to depreciation deductions before May, 1977 would you have to pay tax.  Remember, as well, that the rental property or business must have been within the primary residence in order to qualify.If you are selling your home for a substantial profit, it is highly recommended that you consult with a real estate or tax expert in order to fully understand how the capital gains exclusions apply to your particular situation.  A home is usually a taxpayer's largest investment and you cannot afford to make any critical tax errors when it comes to capital gains from the sale of your primary residence.  The wrong decision could have you in a lot of trouble with the Internal Revenue Service or cost you thousands of dollars in income.Home is the biggest asset for most of the people. When you sell it, you should do it with knowledge of tax implications; otherwise you may land up in huge tax liability. How IRS looks at the transaction? What are the exemptions and deductions you should not miss? Chintamani Abhyankar discusses useful tips.Article Source: http://EzineArticles.com/3188170

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Ice Cream Donut Holes

20 May 2016 18:30:00 +0000

Here is what you'll need! Servings: 12 donut holes Ingredients1 6-count pack of biscuit doughVanilla ice creamCanola oil, for frying½ cup powdered sugar1 tablespoon milkRaspberries and mint, for garnishPreparation1. Open the pack of biscuit dough and cut each biscuit into halves. 2. Take one half and press it into a flat and circular shape. 3. Place a small spoonful of ice cream into the center of the dough.4. Carefully wrap the edges of the dough over the ice cream, creating a very tight seal. 5. Repeat with the remaining biscuit dough and freeze them for 1 hour.6. Heat oil over medium-high heat.7. Fry the frozen dough balls until golden brown.8. Drain them on a paper towel. Freeze for another 30 minutes.9. In a small bowl, combine powdered sugar and milk, stirring until smooth.10. Pour the glaze evenly over the donut holes.11. Serve immediately!

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Beginners' Guide To Mortgages

14 May 2016 18:30:00 +0000

A property mortgage is the biggest debt most of us will ever take on. So choosing the right one is vitally important. Tim Bennett explains the basics of mortgages and highlights the main pitfalls to avoid.

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Boost Your Home’s Selling Price: 5 Pro Secrets | Consumer Reports

08 May 2016 17:30:00 +0000

Consumer Reports’ latest survey of real estate pros reveals low-cost fixes that can raise your home’s value when you go to sell. Plus, find our recommended appliances, paints and flooring that will help you update your house for less money.

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Home Selling Tips - Staging Your Home For Sale

02 May 2016 17:00:00 +0000

Staging your home for sale is one of the top things you can do to sell your home faster and for more money. You want your house to appear open and inviting, and you don't want your personal items distracting the buyer from the features of your house. Stage your home for sale by decluttering your house, de-personalize your rooms and decorate your home with accessories and furniture. Staging your house for sale is a great home selling tips to get the best price for your house.

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4 Ways To Dazzle Buyers As Soon As They Walk In The Door

23 Apr 2016 18:30:00 +0000

When selling your home, you want it to feel warm, welcoming, and inviting to any potential buyer. Here are some open house hacks that teach you how to stage your home to sell: http://www.realtor.com/advice/sell/open-house-hacks-sneaky-ways-to-stage-your-home-to-sell/

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How To Save Money To Buy A Home

17 Apr 2016 01:40:00 +0000

Saving money to buy a home is easy with the right savings account. Save money for a home purchase with tips from a licensed agent in this free video on real estate.

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How To Get A Home Loan With Bad Credit

05 Apr 2016 17:05:00 +0000

How to Get a Home Loan With Bad Credit. Part of the series: Home Equity Loans & Foreclosures. The best way to get a home loan with bad credit is to work with a credit repair company to clean up any issues with your credit score. Avoid getting stuck with a high interest rate on a mortgage loan because of bad credit by consider advice from a mortgage broker in this free video on home loans

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Buying A Home: Getting Prepared

30 Mar 2016 16:30:00 +0000

Before you step foot into the first home you look at, it's a good idea to thoughtfully determine your wants and needs, and the difference between the two! By analyzing your needs you will be able to get a clear picture of exactly what you want your new home to look like and how it should function for you. Once you're in the thick of viewing homes, it's all too easy to fall in love with someone’s decorating or a home’s outstanding architecture – and to completely overlook that there aren't enough bedrooms or bathrooms to fit your needs.First, you should write down why you're looking for a home. For example, are you currently renting and would like to have a home where you can begin building equity? Maybe you have outgrown your existing home or changed jobs which required you to move to a new city. These factors will all have an impact on how you approach your home search.It is important to identify what you envision your home to look like and what features it should have. Writing this down helps to avoid ambiguity later in the home search process. You should make at least two lists: one should describe everything you would ideally like and the other should list the features of the home that are an absolute must. It is most likely that you will blend the two lists into one as you progress through the homebuying process. This is a natural and evolutionary process that becomes clearer as you determine what you want and what is available.

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Buying A Home: Tips And Thoughts

24 Mar 2016 18:30:00 +0000

It is time to make one of the biggest decisions in your life! BUY A HOME. This comes with different excitement to many people. To some, it is a new employment that is paying well and they feel it is the time to own their own home. To others, it is the current house that is no longer meeting required needs and they want to change. But whatever the reason, you should not be carried away by the excitement and left with a huge bill you can't afford.That is why this advice is necessary to help any buyer make the best choice. First, there are thoughts that prospective buyers hold. Some are true, others are just myths. One of the assumptions which is a big mistake that buyers make is believing that they know the best. This makes them not to do enough research and professional consultation thus ending in disarray.The other thought that buyers have is that if it is cheap it is the best. As the saying goes, 'if the deal is too good think twice', many of these cheap houses either come with a hidden cost or there are hidden issues about the home. To some, there is a poor drainage or there is a security problem. To others, there is a noisy company behind or any other issue. So, if the deal is too good think twice.Some tips to consider when buying a house:1. The first thing to consider is the need. Do you want to buy a home because you can afford or because you need one? The answer to this question depends on the buyer but it is a good idea to do all calculations before you make your next biggest purchase.2. The second tip is to do enough research. Ask for as many photos of the home as possible including photos of its environment. Then take a trip to the place to confirm the details before you enter into a life-changing contract.3. Involve a real estate professional. Get a professional real estate sales agent to advise you concerning physical value of a home and calculations involving mortgage deposit and interests. This will help you to avoid premature decisions.4. Avoid speculation. Don't buy a home because your boss has promised you a promotion or you believe market will grow in the near future to provide you with enough resources to serve your mortgage. Buy if you can afford it now. The future is unpredictable and entering to such great deals speculating on future prosperity is the biggest mistake you can make.5. Big does not necessarily mean the best. Buying a home because of its size is a mistake you don't have to make. Many times a small house looks neat and presentable than a big unsustainable house. Buy a home that you can be proud to bring your best friend.You might now be wondering whether you should buy a home or not. But when all measures are taken into consideration, buying a house is one of the best decisions you can make. This is because of the pride associated with owning a home, plus the stress relieved concerning rent. You should thus not be scared by the lengthy processes involved but again you should not undermine it.Article Source: http://EzineArticles.com/9346419

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Improve Your Credit Before Getting A Mortgage

15 Mar 2016 17:49:00 +0000

One of the best ways to improve your chances of getting a home loan is to improve your credit score. It is because better credit scores may give you access to better interest rates and more beneficial home loan products.Here is a list of some quick tips to help you get the best possible credit score. While there is no guarantee that all of these options will immediately boost your credit score, they may help you establish habits that will strengthen your credit score.Show you can pay your bills on time, every timeLenders/credit providers will want to see that you can repay a home loan on time. So, here is a list of bills that you should pay on time, every time:>> Your credit cards;>> Your rent;>> Your medical and utility bills; and>> Any other service that may use a collection agency for the recovery of delinquent accounts.If you miss a payment date by a few days, call the service provider immediately to make the payment, and don't be afraid to ask the provider for a one-time forgiveness.Check your Credit RatingYou should regularly check your credit report with a credit reporting agency (such as Veda Advantage and Dunn and Bradstreet), as it will:>> Give you an idea if you have any defaults or negative repayments history recorded in your report;>> Give you time to get the credit report corrected before a lender/credit adviser accesses your report; and>> Enable you to verify your credit score with a credit reporting agency.Note: You should be aware that due to the changes in the Privacy Act in March 2014, lenders/credit providers have the ability to access your credit reports and can see the past 24 months of your repayment history.Maintain your Available CreditBefore applying for a home loan don't open any other credit cards or lines of credit. It is because lenders/credit providers will see you as being a risk if you suddenly take out loans for cars, electronics, furniture, etc.Also, refrain from closing your credit cards or other lines of credit. Instead, consider paying off your balances as a lower debt will improve your debt-to-credit ratio.This is best illustrated by the following example:Having a total debt of $4,000 with a $20,000 available credit will look better than having just $500 in debt with $800 available credit.Establish a Savings HistoryIf you are borrowing more than 80 percent of the purchase price of the property, you will be required to meet the "genuine savings" requirements of lenders/credit providers. Your savings will need to add up to around 5 percent of the purchase price of the property.For example, on a purchase price of $700,000, you will need to have savings that add up to $35,000.Note: Saving a larger deposit should help to reduce or avoid paying "Lenders Mortgage Insurance" (LMI) and you may even be offered a more competitive interest rate by the lender/credit provider.Avoid applying with too many Lenders/Credit ProvidersAvoid submitting your home loan applications to several different lenders/credit providers at once. It is because these loan applications will appear on your credit report. You should only submit your home loan application:>> After you have compared lenders/credit providers; and>> After you have decided to go with a particular lender/credit provider.Your Employment StabilityIf you have had the same job for several years, then this is a big tick. So, prior to applying for a home loan, Try to establish a stable employment history as it will enable you to make regular loan repayments.If you have changed your job recently, do not worry. You may satisfy the requirements of lenders/credit providers, if:>> You have been in a similar role; and>> You have been in the same industry.Disclose all InformationLenders/ credit providers may think that you have other debts that have not been disclosed. So, always be upfront and disclose all information as non-disclosure of relevant information may result in your home loan application being declined.Seek Expert and Professional AdviceAll these tips should help you to improve your credit score. However, you should speak to a professionally qualified and expert finance broker who can help you to create a personalised credit improvement plan. Establishing this relationship with a finance broker will help you to determine which potential lender/credit provider best meets your needs.Article Source: http://EzineArticles.com/9086062

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Welcome

" The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail." ~ Napolean Hill

Innovative Proprietary Advisors, Inc. is a full-service real estate and mortgage brokerage located in Walnut Creek, CA. We have two branches of our company, IPA Realty and IPA Lending. Consolidating these services in one place makes your experience as simple and stress free as possible. 

We believe that well done is better than well said. We are committed to providing the highest level of service to our clients, but know that actions speak louder than words, so let us show you what we can do for you. We know that there are hundreds of companies you can give your business to so we invite you to take a look at our site and see what sets us apart from the rest. 

If you have any questions about real estate services or mortgage lending please don't hesitate to give us a call. Whether you choose to use our services or not we believe that educating consumers is the responsibility of every professional in our industry. 

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Pending Home Sales Second Highest in 10 Years

31 Aug 2016 14:47:06

Posted To: MND NewsWireDespite some predictions that pending home sales would fall in July, they actually rose modestly to reach their second highest level in over a decade. The National Association of Realtors® reported that its Pending Home Sales Index (PHSI) was up 1.3 percent to 111.3 from a downwardly revised (from 111.0) 109.9 in June and was up 1.4 percent compared to July 2015. The index had reached its highest level since February 2006 this past April when it hit 115.0. The July index was second only to that number. NAR pronounced the increase in purchase contracts as broad-based ; only the Midwest failed to improve on its June numbers. Analysts surveyed by Econoday had projected the index could be in the range of a 1.8 percent decline to a 1.4 percent gain. The consensus was a positive move of 0.6 percent...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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Deep Dive on FHFA's Home Price Figures; Wells on Investing With Imperfect Info

31 Aug 2016 14:23:45

Posted To: Pipeline PressWhat does $24 million buy you in Oregon ? Just find 24 people to pony up a million each. Some economists love to look at the FHFA's housing statistics. Newly minted math and statistics majors, and summer interns, employed by the FHFA to put them together, also love them. These numbers, of course, only reside in the world of Freddie Mac and Fannie Mae, nut are useful to a limited degree, especially when viewed in context and taken over several months. Things look pretty good , and we certainly see a different picture than a few short years ago when the trend was negative. As a reminder, the Federal Housing Finance Agency (FHFA) sends out its House Price Index (HPI), and one can take a gander at it monthly or quarterly - to smooth out those fluctuations. The HPI is calculated using home sales...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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MBS Day Ahead: Month-End Bond Buying Could Be A Trap

31 Aug 2016 13:35:57

Posted To: MBS CommentaryWho remembers asymptotes from high school? Those are the curved lines that gradually approach a certain level--getting closer and closer, but never reaching it. Sometimes in bond markets, instead of the normal triangular consolidations (i.e. linear trends of "higher lows" and "lower highs" converging), we instead have a static level on one side and an asymptotic line on the other side. A picture makes it easier to see, and it just so happens to apply to the current environment where 10yr yields have had a ceiling around 1.60 (with the brief exception of the Jackson Hole breakout) offset by a lower boundary that has constantly been approaching the upper boundary by smaller and smaller amounts. As the chart shows, the trend strength (measured by the ADX technical overlay-...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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Mortgage Apps Eke Out Small Gain

31 Aug 2016 12:16:26

Posted To: MND NewsWireThe volume of applications increased slightly during the week ended August 26 as mortgage rates made minor changes and moved in both directions. The Mortgage Bankers Association (MBA) reported that its Market Composite Index, a measure of application activity, was 2.8 percent higher on a seasonally adjusted basis than during the week ended August 19, and rose 2.0 percent unadjusted. After two weeks of decreasing volume the Refinancing Index rose 4.0 percent. The share of applications for refinancing increased from 62.4 percent the prior week to 63.5 percent. It was the fourth straight week that the share of refinancing increased. The Purchase Index increased 1 percent on a seasonally adjusted basis from one week earlier but fell by 1 percent when unadjusted. Purchasing applications were up...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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MBS RECAP: Uneventful Day For Bonds Confirms Range-Reentry

30 Aug 2016 20:24:36

Posted To: MBS CommentaryToday was very different than the past two days. Friday was one of the biggest days of selling seen during the July/August time frame and yesterday was one of the larger rallies (though neither were especially large in broader contexts). Today covered a mere 1/5th of the ground covered on Friday, and barely more than a third of yesterday's range. From a technical standpoint, that means that Friday's break outside the recent range has been " rejected " and yesterday's reentry to the range has been " confirmed ." As for today's specific considerations, I'd start by saying they don't matter given the fact that markets didn't move. Still, it's a good exercise to take inventory, so here we go: Fed Vice Chair Fischer was on Bloomberg around 6:30am...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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Mortgage Rates Back in Familiar Range For Now

30 Aug 2016 19:06:00

Posted To: Mortgage Rate WatchMortgage Rates did one of two things today, depending on the lender in question. Some lenders simply held in line with yesterday's latest levels (in other words, they were 'unchanged' on the day). Other lenders had some ground to make up because they maintained more conservative pricing. This second group kept rates a bit higher yesterday even as most of their peers were offering mid-day price improvements due to big gains in bond markets. In these cases, the lenders used this morning's calm bond market environment to bring their rates back in line with the rest of the pack. After all was said and done, today's rates look very much like last Thursday's. In the bigger picture, today's rates are well within the range that has dominated the past 45 days. During that time, the average conventional...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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Mortgage Bank Profits Doubled in Q2

30 Aug 2016 16:46:34

Posted To: MND NewsWireMortgage originators surveyed by the Mortgage Bankers Association (MBA) saw production profits more than double in the second quarter compared to what had been a dismal Quarter One. Independent mortgage banks and mortgage subsidiaries of chartered banks told MBA they had averaged a net gain of $1,686 on each loan originated during the quarter, up from $825 per loan during the previous period. Marina Walsh, MBA Vice President of Industry Analysis, commented in the company's Quarterly Mortgage Bankers Performance Report that "Production profits more than doubled in the second quarter of 2016, as production volume rose and expenses dropped to a level not seen since the third quarter of 2015. Mortgage lenders also benefited from higher loan balances that reached a series-high of $245,394 and drove...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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Distressed Sales To Remain Elevated into 2019 -CoreLogic

30 Aug 2016 16:40:05

Posted To: MND NewsWireThe share of total home sales made up by distressed properties is now one-quarter the level it was in January 2009. CoreLogic reports that in May the total of foreclosed homes and houses sold through a short sale was 8.4 percent with foreclosures accounting for 5.4 percent of the total. On a month-over-month basis the distressed shares were down 1 percentage point from April and 2.1 points below the May 2015 level. At the peak, distressed homes sales, made up 32.4 percent of the residential market, with foreclosures accounting for a 27.9 percent share. CoreLogic notes there will always be some level of distress in the housing market, with the pre-crisis share of sales generally running around 2 percent. If the current year-over-year decrease in the distressed sales share continues, the company...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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Price Gains Moderating, But Some Metro Areas Stand Out

30 Aug 2016 14:38:00

Posted To: MND NewsWireResults are in for the final two of the four major home price indices for June. Both the S&P CoreLogic Case-Shiller Indices and Black Knight Financial Services' Home Price Index (HPI) show continued price appreciation throughout the country with Case-Shiller reporting the appreciation tended to be greatest in two regions , the South and the West. Case-Shiller's U.S. National Home Price Index, which covers the nine U.S. census divisions, was up 5.1 percent compared to June 2015, the same year-over-year increase that was posted in May. The non-seasonally adjusted national index posted a month-over-month gain of 1.0 percent and was up 0.2 percent after adjustment. Both the 10-City and the 20-City Composite Indices were up from the May level by 0.8 percent on a non-seasonally adjusted basis...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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Trends in FHA & VA; Agency/Lender Changes; Note on Improving Borrower Profiles

30 Aug 2016 13:57:27

Posted To: Pipeline PressI asked my cat Myrtle for her comments on the proposed TRID changes. (Blank stare.“Myrtle, make up your mind – in or out!”) I did, however, receive this note from a veteran broker regarding the changes. “Every comment I read online basically said this is onerous or worse . I didn't go through all of them but did not see one in favor of TRID. Everyone should express their opinion even if it's only 2-3 lines . (One can read the comments in the right column.) The three-day rule is a joke on refis although for purchases I can understand their reasoning - but not the practicality. If the borrower has been properly educated they should not have any surprises." Frankly I have a hard time keeping up with all the lender & investor changes in FHA & VA lending. Lenders...(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

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