Steve M's Blog

The Mortgage Bond Market seems to be settling into a stable range after last week's turmoil from the Fed market participation exit.  It is important to note that although rates have risen, the yield spreads between MBS and the benchmarks (Treasuries) have remain the same. Mortgage Bonds are up mo...

At 2pm ET, minutes of the last FOMC policy meeting were made available. These are brought courtesy of Mortgage Market Guide:  Here are the highlights from FOMC minutes: FOMC MEMBERS BELIEVED EXTENDED PERIOD LANGUAGE WOULD NOT PRECLUDE PROMPT POLICY TIGHTENING IF NEEDED A FEW FED MEMBERS AT MARCH ...

No question about it, if you don't have VTs as well as Single Property Websites for all of your listings, you are missing the boat.  Savy Internet Marketing is the name of the game right now.I don't think many would argue that well over 85% of potential home buyers begin searching for their homes...

Mortgage Bonds are experiencing a classic "Dead Cat Bounce" after 5 days of heavy losses and hitting the low points of the year.  With the market improvement, we will see some slight betterment of California mortgage interest rates.  The gains have been aided by some sell offs in stocks and new c...

The bloodshed continued in the Mortgage Bond Market today.  The bond prices fell sharply for the fifth straight session on stronger than expected economic data and lack of buying support from the Fed, who has exited the market.  Technicals do indicate an oversold position but things certainly sti...

Fabulous post from Jeff Belonger that is very worthy of a re-blog for any who missed it the first time.   What is the best mortgage program for me?   When shopping for a mortgage, it can be confusing at times, depending on where you get your information.  You should not always base your informat...

The fallout from Friday's positive (at least that is the spin) Job's Report continues with the Stock Market open and trading higher on the report.  As of this writing, Mortgage Backed Securities are trading at their lowest prices of 2010 which will translate to the year's highest rates should it ...

On this Easter holiday as well as evryday we should all remember our soldiers, sailors, marines and airmen who are serving overseas and away from their loved ones. Here is a tribute to them, a great song if you like music with a harder edge.  Good luck keeping your eyes dry.

Anyone that does USDA loans, I hope you are aware that the well has almost run dry. Sometime very soon, definitely by the end of April, the USDA will have exhausted all of their funding for the rest of this year. They will be out of money until FY 2011, sometime in October. They normally run out ...

This man is obviously very angry and quite a fighter.  The truth of the matter is that the property was given as security for the loan and if he does not pay as he agreed to, the bank has a legal right to take the home. What is amazing about this is how many people support this guy.  Gives you an...