Thanks to all Veterans and Their Families
Posted 11-11-2009 at 07:07 AM by VictorBurek
Despite a slightly better than expected auction of 10 year treasury notes, the prices of mortgage backed securities closed unchanged on the day. There was a brief period following the auction where MBS did move lower which led to a few lenders repricing for the worse. As the day progressed, MBS rebounded; however, the few lenders that repriced for the worse did not give back what they took away. As is very typical with lenders, they are quick to reprice for the worse but rather slow to pass along any gains. There were no economic reports released or any surprises from the speeches by fed officials.
With today being Veteran’s Day, the bond markets will be closed but the stock market is open for a regular day of trading. No economic reports will be released. All banks are closed, but a few will still issue rate sheets.
Early reports from fellow mortgage professionals indicate that rates are unchanged from yesterday. This keeps the par 30 year conventional rate mortgage in the 4.75% to 5.00% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. If you are looking to access any home equity, you should expect a higher interest rate or additional costs.
I have been getting many questions regarding the Home Buyer Tax Credit. Here are a few links to resources that can help answer your questions, click here, click here or click here. These links should be able to answer most of your questions, but feel free to ask questions in the comment section below.
Let us all not forget what today is about, our Veterans. I personally want to thank all Veterans, active military personnel and their families for their sacrifice. I appreciate all you have done, are doing and will continue to do to protect my family and country. Your service is greatly appreciated.
With today being Veteran’s Day, the bond markets will be closed but the stock market is open for a regular day of trading. No economic reports will be released. All banks are closed, but a few will still issue rate sheets.
Early reports from fellow mortgage professionals indicate that rates are unchanged from yesterday. This keeps the par 30 year conventional rate mortgage in the 4.75% to 5.00% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. If you are looking to access any home equity, you should expect a higher interest rate or additional costs.
I have been getting many questions regarding the Home Buyer Tax Credit. Here are a few links to resources that can help answer your questions, click here, click here or click here. These links should be able to answer most of your questions, but feel free to ask questions in the comment section below.
Let us all not forget what today is about, our Veterans. I personally want to thank all Veterans, active military personnel and their families for their sacrifice. I appreciate all you have done, are doing and will continue to do to protect my family and country. Your service is greatly appreciated.
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