Special Update: Freddie Mac Weekly Survey

2017-12-20T17:34:12+00:00 June 27th, 2013|Categories: BlogTalkRadio Podcasts|Tags: , , , , , , |

Freddie Mac reported that average mortgage rates rose in the week through June 27, with 30-yrs hitting 4.46%, from 3.93% the prior week. This was the largest weekly increase in 26 years. While the survey results are released on Thursday, the timing of the data collection means that the data better reflects changes from Monday to Monday or Tuesday to Tuesday than Thursday to Thursday each week. The Primary Mortgage Market Survey (PMMS) is sent on Monday with a response due back by Wednesday. Most responses are completed and submitted on Monday or Tuesday. The responses are averaged and the results are released on Thursday. The survey results, therefore, reflect the average rate and points borrowers were being offered on Monday and/or early Tuesday. Changes in the market since Monday/Tuesday can make the published data misleading when compared to rates and points actually being offered on Thursday. This week, mortgage rates have improved substantially since the survey period earlier in the week. If the survey were conducted this morning, the results for 30-yr rates would be 20 to 25 basis points lower.

Special Update: 2.5% 30 Yr Agency MBS prices now available!

2017-12-20T17:34:12+00:00 November 20th, 2012|Categories: In The News, Special Update|Tags: , , , , , |

Are any of you looking for 2.5% 30 yr Agency MBS prices?  MBSQuoteline now makes them available as part of its mortgage market information service.    Not only can you see live MBS prices at any time during the day,  you can see the path of price movement throughout the day.  The prices are conveniently available on your desk top, as well as your smartphone.  Go to www.mbsquoteline.com to start a free trial to see how this information and more can be a benefit to you.

Special Update: Update on G-Fees

2017-12-20T17:34:14+00:00 November 1st, 2012|Categories: Special Update|Tags: , , , , , , , |

We have received a few questions today about why mortgage-backed securities (MBS) prices do not show the same drop in prices as seen from the Fannie Mae window. The reason is that Fannie Mae, this morning, built into their whole loan prices an increase in their required guarantee fee (G-fee). Since G-fees are paid from the borrower's loan rate and not by the owner of an MBS, MBS prices are unaffected by a change in G-fees. Most lender rate sheets began reflecting the increase in G-fees over the last few weeks, depending on lock term and delivery method.

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