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Refi Replies |
rffrydr
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Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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 Posted: Wed Jul 07, 2010 7:52 am Post subject: |
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On cue:
Poilin Breathnach
Mortgage Applications Rise 6.7% in Week to July 2
7/7/2010 9:07 AM EDT
| Quote: | The Mortgage Bankers Association (MBA) said the Market Composite Index of its Mortgage Applications Survey for the week ending July 2 increased 6.7% on a seasonally adjusted basis from a week earlier. On an unadjusted basis, the Index increased 6.5% from the previous week.
The Refinance Index increased 9.2% from the previous week and was at its highest level since the week of May 15, 2009. The seasonally adjusted Purchase Index decreased 2.0% from one week earlier. The Purchase Index has decreased eight of the last nine weeks. The unadjusted Purchase Index decreased 2.3% from the previous week and was 34.7% lower than the same week one year ago. Click here to read the full report. |
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rffrydr
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Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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| Posted: Tue Jul 06, 2010 11:04 pm Post subject: |
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There's more to be had:
Tom Graff
Mortgage rates will keep falling
7/6/2010 3:10 PM EDT
According to Freddie Mac, the average rate on a 30-year mortgage is down to 4.58%. But it should actually go lower. The 20-year average spread between 7-year swaps (normally the closest average life for a brand new mortgage) is 1.37%. Right now the 7-year swap is 2.55%, so the mortgage rate "should" be 3.92%!
Refi wave is coming. And don't tell me that no one has equity. No it won't be a tsunami, but it will be enough to cause mortgage bond holders pain.
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rffrydr
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Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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| Posted: Thu Mar 04, 2010 8:09 am Post subject: |
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There are rates and there are rates. And the rich get richer:
| Quote: | The last time mortgage rates were at current levels, in 2003, refinancing activity hit $2.9 trillion, according to trade publication Inside Mortgage Finance. Last year, refinance volume reached $1.2 trillion, the highest amount since 2003 but not nearly as much as expected, considering how low interest rates have fallen.
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...but we'll take it:
| Quote: | | One indicator of the economic impact of refinancing: Loans that refinanced in 2009 will result in $3.4 billion in savings for consumers this year, according to a report by First American CoreLogic, a research firm based in Santa Ana, Calif. That will return an additional $17.2 billion in savings to borrowers over the next five years. That's money consumers can potentially use to help spur economic recovery. |
http://finance.yahoo.com/loans/article/108957/borrowers-miss-out-on-billions;_ylt=AjWCRVYL7N2IuO04nOLg60e7YWsA;_ylu=X3oDMTFhOG5hZmlmBHBvcwMzBHNlYwNwZXJzb25hbEZpbmFuY2UEc2xrA2hvbWVvd25lcnNhcg--?mod=loans-home
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rffrydr
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rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
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| Posted: Wed Jun 13, 2007 12:14 pm Post subject: |
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Steepness of spread change implies strong mortgage selling in selloff. Today's MBA numbers probably buy bonds, and Master's H's trade, some time.
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