By: Brian Brady
The bailout bill passed the House after a decisive victory in the Senate; it is certain to be signed into law by President Bush. From Bloomberg.com:
These steps represent decisive action to ease the credit crunch that is now threatening our ...
by Brian Brady
We are advising clients to delay locking their Pasadena mortgage rates until the Bailout hearings are over. That could change in a New York minute so keep checking our mortgage rates report daily. We could change if the mortgage bond markets start reacting to an expected bailout ...
by Brian Brady
| Hold off on that Pasadena mortgage rate lock. The government is here to help.
I initially thought this massive government purchase of defaulted mortgage proposal would lead to higher mortgage rates, but quickly reversed course. Here's me today, on Zillow Mortgage Blog:
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By Brian Brady
Remember when I talked about the whipsaw effect, yesterday? Rates with no lender compensation to the broker, called "par" rates in the industry *, are 5.875% now. That's .375% higher than the 5.5% I reported yesterday.
Will Pasadena mortgage rates come back down?
Maybe. They ...
By Brian Brady
Had you taken my advice this weekend, and immediately locked your Pasadena mortgage rate, yesterday you would have lost out. The par rate for a 30-year fixed rate conforming loan was 5.625% yesterday- today that par rate is 5.5%. My advice would have cost you ...
by Brian Brady
The MBS market has improved dramatically since the new FHFA seized Fannie Mae and Freddie Mac. An implicit government backing of mortgage bonds became explicit with that single event. The rate difference, or spread as we call it, between gov?t bonds and mortgage bonds, has narrowed ...
by Brian Brady
Weird things are happening in the mortgage-backed securities market. Strong
buying, in the 30 year-fixed rate loans, has dropped rates .25% since my last
report, The ARM rates, however, have RISEN. A weird phenomenon, indeed. I'm
only quoting two loan programs (the others make no sense ...
Pasadena Mortgage rates were stable this week. ARM rates went up and the fixed rate mortgage rates are the same as they were Monday. I mentioned that traders felt "stuck in the middle" of conflicting data. Core inflation is risingbut oil prices are falling like a rock off a ...
| Pasadena Mortgage rates for August 1, 2008. Loan amounts up to $417,000:
3/1 ARM 5.500% 5/1 ARM 5.750% 7/1 ARM 5.875% 10/1 ARM 6.250% 30 Yr Fixed 6.375% All rates offered to the borrower with 1 point cost. Rate quotes ... |
Pasadena Real Estate Mortgage rates for August 1, 2008. Loan amounts up to $417,000:
3/1 ARM 5.500%
5/1 ARM 5.625%
7/1 ARM 6.125%
10/1 ARM 6.250%
30 Yr Fixed 6.250%
All rates offered to the borrower with 1 point cost ...
