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It looks as though escalating past due mortgages may be a thing of the past for the Federal Housing Administration (FHA). The federal mortgage insurer’s delinquency rate dropped again in April, marking the third straight month of declines.
According to FHA’s latest operations report, as of April 30, 527,504 mortgages had spent at least 90 days in a delinquent status, yielding a serious ...
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http://www.youtube.com/watch?v=2ekB70IzxpQ
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Treasuries and mortgages had a good week; the 10 yr yield fell 16 basis points and mortgages down 12 basis points. Most of the week markets focused on the debt issues in the European Union led by the cliff-hanging balancing on Greece's potential sovereign debt defaults. It took weeks and down grades on the Greek debt by S&P but over the weekend the EU and IMF did come up with $146B in funds ...
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Last Week; A slight increase in long term interest rates, but the larger jump in rates was at the short to middle of the curve. The 2 yr not yield increased 11 basis points, the 5 yr note +12 basis points while the 10 yr note was up 5 basis points and the 30 yr bond declined 1 basis points. In the wider perspective the rate markets are relatively calm, the drivers last week were the continuing ...
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Last Week; another week of mixed economic data. The story of the week however didn't hit until Friday morning when the SEC announced it was charging Goldman Sachs with fraud in its dealings in the sub prime mortgage markets. Specifically, for mis-leading a client while another client was setting up to short the same security. Based on what I know now; Goldman created a security backed by sub-prime ...