Mount Vernon's Newsletters
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Our e-mailed newsletters keep you in the know with useful topics on finance, real estate, mortgages, and more--for current and future homeowners.
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| Market Update |
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View current market conditions and a commentary so you can stay on top of what's going on in the financial markets.
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| Apply Online |
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Complete the quick short application or submit a full application--either way, it's secure and easy to apply online!
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Events & Education @ MVMC
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Check out upcoming events at Mount Vernon--including homebuyer seminars--and sign up online. -------------------- ------------- ---------- ------
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| Homebuyer Tax Credit |
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For first many homebuyers, it's one more reason why now is a great time to buy. Learn more about it!
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| Upcoming Events |
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MVMC will be at the Weymouth Club's Home Show on Saturday, March 13th from 11am - 4pm. See you there!
Our spring homebuyer education programs will be on the calendar soon!
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 Mortgage News Daily
The Day Ahead: Chinese Inflation Drives Domestic Stocks Lower - 1 hour ago
Posted To: MND NewsWireSpeculation that China may have to tighten its economic policy is pulling investor sentiment lower this morning. Amid positive data on industrial production and retail sales, Chinese CPI climbed 2.7% in February, indicating that the central bank may have to take a more serious approach to slow down spending. “China is aiming for 3% inflation for all of 2010,” said Benjamin Reitzes from BMO. “Continued acceleration would make that target tough to hit and markets are concerned that this latest jump in inflation could cause Chinese officials to tighten policy further.” Reitzes called the CPI figure “somewhat troubling,” adding that it’s too early to a definitive statement that prices are about to take off. “However, with the economic numbers showing...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS CLOSE: What Can Today Tell Us About Tomorrow? - 17 hours ago
Posted To: MBS CommentaryThis is always the question right? I mean, after all, we already know what is available on our rate sheets at the moment, but the most valuable question always asks for tomorrow's MBS prices today. Forgetting for a moment that you'll usually LOSE more money thinking that way than you'll make, let's suspend GUTFLOP and see if we have any hints at tomorrow's action according to today's events. First, the fundamental arguments... What do we know? 10yr auction built up a decent concession going in and stopped pretty much on the screws (meaning that rates went up ahead of the auction, then we saw strong demand at those rates) Strong demand AT THOSE RATES is evidenced by the relatively high "offers accepted at high" metric from the auction, meaning that most of the...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Mortgage Rates Rise Ahead of Treasury Auction. Fail to Recover Afterward - 17 hours ago
Posted To: Mortgage Rate WatchMuch like Monday, yesterday was a data-less day in the marketplace, leaving me at a loss for words and new guidance. Mortgage-backed securities prices did managed to move higher following a very strong 3 year Treasury debt auction, unfortunately MBS price appreciations were not strong enough to warrant reprices for the better and lenders left mortgage rates unchanged on the day. The economic calendar picked up today, but not much. This morning the Mortgage Bankers Association released their Weekly Loan Applications Index. The MBA survey covers over 50 percent of all US residential mortgage loan applications taken by mortgage bankers, commercial banks, and thrifts. The data gives economists a look into consumer demand for mortgage loans. A rising trend of mortgage applications indicates an increase...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
MBS AFTERNOON: Mortgages Playing Follow the Leader with Benchmarks - 18 hours ago
Posted To: MBS CommentaryHeading into the 5pm "what a slow day in the mortgage market" marking period... The FN 4.0 is -0-03 at 98-01 yielding 4.189% and the FN 4.5 is flat on the day at 101 the rock yielding 4.39%. The secondary market current coupon is 4.33%. The CC yield is 61bps over the 10yr TSY note yield and 58.6 basis points over the 10 yr swap rate. Static current coupon yield spread valuations are TIGHTER AGAIN! Holy relentless yield spread tightening! LOOK HOW SIDEWAYS FN 4.5 PRICES WERE TODAY! The MBS NINJA shares his thoughts on the recent stability of "rate sheet influential" MBS coupons in the face of rising benchmark yields: Mortgages, trading in the secondary market (soon to filter back to the primary and rate sensitive one), are tightening daily as more money is put to work along...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
FICO: Americans More Likely to Default on Mortgages than Credit Cards - 19 hours ago
Posted To: MND NewsWireAmerican consumers are now defaulting on their mortgages in even greater numbers than they are walking away from credit card debt. According to FICO's® Score Trends Service, this is a phenomenon that is historically unique. FICO said the mortgage default risk for consumers with high FICO scores now exceeds their credit card default risk, even though most credit cards are unsecured credit and mortgages are secured by real estate. There is a parallel rise in mortgage delinquencies for these high scoring consumers. The company said that their analysis of trends in FICO scoring shows that recent repayment behavior has shifted significantly from what has historically been expected. In 2005 bankcard accounts were more than 3 times more likely to become seriously delinquent, that is 90+ days...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. |
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