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MBS slide seems to be coming from traders reading the tea leaves of the Housing Summit

Part of the whip lash seems to be coming from traders reading the tea leaves of the Housing Summit. Comments by Bill Gross that Pimco wouldn’t buy a mortgage security unless the government backed it or if they did, they would require a minimum of 30% down payment. Other comments range from having FNMA/FHLMC reduce all current mortgages to 4.0% as a stimulus measure for the economy. How would you like to be invested in a few billion of 4.50% or 5.0% paper and take a hair cut to 4.0%?

2010-08-18T15:56:14-05:00August 18, 2010|Austin Mortgage Market|

Austin Mortgage Market Update – For the week of May 17, 2010

Last Tuesday the National Association of Realtors (NAR) reported the Q1 median price for existing homes was up in 91 out of 152 metro areas compared to a year ago, showing the housing market is starting to stabilize. This was a nice gain over Q4 of last year when prices were up in only about 40% of the cities tracked. Even more encouraging, the percentage price increases in 29 cities were in double-digits.

Austin Mortgage Market – For the week of December 21, 2009

We saw strong evidence last week that homebuilders are well on their way to recovery. Housing starts for November were UP 8.9%, to an annual rate of 574,000 units. Single-family starts were 35.0% higher than their January and February lows. The very volatile multi-units starts were UP 67.3% from the previous month's cyclical low. And get this -- starts were UP in every major region across the country!

2009-12-21T09:28:52-06:00December 21, 2009|Inside Lending Newsletter|