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Annaly Report: Refi Rise Result of Record-Low Rates
According to a recently released report from Annaly Capital Management Inc., manager of a portfolio of mortgage-backed securities (MBS), a surge in refis has been seen as a result of historically low...
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FOMC: Housing Sector Continues Its Depression and Commercial Market is Weak
Information received since the Federal Open Market Committee (FOMC) met in November confirms that the economic recovery is continuing, though at a rate that has been insufficient to bring down...
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Mortgage Apps Down 5.5 Percent From Last Week
Mortgage applications decreased 5.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Dec. 13, 2013....
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NMP's Economic Commentary: The Perfect Storm
If it was the weather, we would have called it “The Perfect Storm.” Last month, we had one week which experienced a confluence of economic news which rarely is seen in a five-day period. At the end of...
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Richmond Fed Chief Upset on MBS Policy Shift
Jeffrey M. Lacker, president of the Federal Reserve Bank of Richmond, has openly questioned a key aspect Wednesday’s decision by central bank’s Federal Open Market Committee (FOMC) regarding the...
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Fed Announces End to Quantitative Easing
The Federal Reserve has declared that the economy has strengthened enough to warrant the discontinuation of its quantitative easing (QE) efforts.Click to continue
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Zillow: Mortgage Rates Begin to Level Off
The 30-year fixed mortgage rate on Zillow Mortgages is currently 3.90 percent, up five basis points from this time last week. The 30-year fixed mortgage rate hovered around 3.92 percent for most of the...
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