The last couple months we have seen the MBS market accelerate its sell off. The question is: where will it end or settle out? The FNMA 4% coupon chart looks to a 4 year support level at 101.56. Since last September we have lost nearly 350bps, with 230bps peeling off in just the last 2 and half months. To get to the 101.56 support level the market still needs to shed 75BPS leaving mortgage rates to increase another .125-.25%. If you are looking at buying or refinancing now is the time to lock in a rate.
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Real Estate with Tyson
- Home Buying Myths Slayed [INFOGRAPHIC]Some Highlights: The average down payment for first-time homebuyers is only 6%! Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months! The credit score requirements for mortgage approval continue to fall.
- Is Family Mortgage Debt Out of Control?Some homeowners have recently done a “cash out” refinance and have taken a portion of their increased equity from their house. Others have sold their homes and purchased more expensive homes with larger mortgages. At the same time, first-time buyers have become homeowners and now have mortgage payments for the first time. These developments have […]
- How Much Do You Need to Make to Buy a Home in Your State?It’s no mystery that cost of living varies drastically depending on where you live, so a new study by GOBankingRates set out to find out what minimum salary you would need to make in order to buy a median-priced home in each of the 50 states, and Washington, D.C. States in the Midwest came out […]
- Home Buying Myths Slayed [INFOGRAPHIC]