Blog
Average Weekly Rates Hit 3-Month Low
Mortgage rates dropped significantly during the week ending August 20 according to the results of the Primary Mortgage Market Survey released this morning by Freddie Mac and an earlier release for the week ended August 14 from Fannie Mae.rn
Evolving Mortgage Market Helps Lenders Profit
According to the Mortgage Bankers Association’s (MBA) Annual Mortgage Bankers Performance Report (formerly the MBA Cost Study series) the average loan written in the second half of 2008 brought in a modest profit of $184 or 8.75 basis points compared to net losses of $50 in 2006 and $560 in 2007. This was in spite of lower net warehousing income and higher production operating expenses. MBA pointed out that the many firms that left the market in the past two years may have driven an increase in profitability for the survivors.
Mid-Day Recap: Stock Shorts Covered After Mixed Data
Markets shrugged off a weak labor report Thursday morning and opened flat, partly due to optimism following a hefty gain in Asian markets earlier in the day. Half an hour into the session equities then turned higher as two reports gave reason to believe the growth had resumed in the third quarter.rnrnAs of 11:15, the S&P 500 was leading the major indexes with a 0.81% gain 1,004, while the Nasdaq had climbed 0.72% to 1,983, while the Dow was trading 0.38% higher at 9,315.
Latest Articles
By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...
Late-Stage Delinquencies are SurgingAug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...
Published by the Federal Reserve Bank of San FranciscoIt was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...