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Jim Pendleton Mr. mortgage For first-time buyers you often need to know information about what's going on in the market, we have supplied this page specifically to help you understand the current market conditions.As a first-time buyer, please review all pages to get maximum use of this site. Head ine News and Market Report “Bond Market News and Perspective for Mortgage Professionals” Tuesday,September 8, 2009 Click on link for more information Consumer Credit to be released at 2PM EST today , consensus estimate -$4.0 billion.Treasuries Little Changed as Stocks Gain Before 3-Year Auction, the first of this week’s three auctions totaling $70 billion. Today’s $38 billion auction is followed by a $20 billion sale of 10-year debt tomorrow and a $12 billion offering of 30- year securities on Sept. 10. Global equity markets strengthened while gold futures broke through $1,000 an ounce for only the second time this year, hitting as high as $1,009.40. The safe-haven dollar was dumped against main rivals. Mortgage Bankers Association Annual Conference at the San Diego Convention Center from Sunday, October 11 thru Wednesday, October 14, 2009. Early Registration ends 9/11/09.Mortgage bankers propose replacing Fannie, Freddie. The MBA's plan would replace Fannie and Freddie with several federally regulated private companies known as Mortgage Credit Guarantor Entities, or "McGees." They would buy loans and sell them as bonds with their own guarantee attached, and would pay the government a fee for its backing. For investor confidence to return to the market for mortgage-backed securities, "there has to be an explicit government backstop,"
Behind FHA Woes, Push to Lift Housing. As it tried to help shore up the ailing housing market in the past year, the FHA increased its exposure. Now concerns are mounting that the agency – and taxpayers -- may pay the price.
More Pain Felt by 'Prime' Borrowers. Prime borrowers are falling behind on mortgage and credit-card payments at a faster pace than subprime borrowers. Prime Jumbo Trouble: The Foreclosures Keep Coming. Prime jumbo loans foreclosure rates surpassed the 2.98% average for all loan types in July, and continue to rise faster than any other loan type. Prime jumbo foreclosure rates are up a staggering 634% versus January 2008.Economic Indicator News Release Calendar
Financial Services of America--Direct lender-- all 50 states Call 1-631-451-7400 For more information. Source: http://www.mrmortgagetm.com
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We offer special guidence to first time buyers.