Last week the Federal Housing Finance Agency, Fannie Mae and Freddie Mac jointly announced changes to the Home Affordable Refinance Program (HARP) with the goal of making it easier for some households to refinance their mortgages at lower interest rates. Here I offer some thoughts on this proposal.
Due to the "new lower path for mortgage rates" Goldman is raising their estimate for 2016 MBS Issuance to $1.3 trillion from $1.2 trillion and raising their 2017 MBS issuance estimate to $1.3 trillion from $1.1 trillion. Goldman's team cut their 10-Yr US TSY estimate to 2% from 2.4% ahead of an expected refinancing blitz.
Samantha Lee / Business InsiderCertified financial planner Sophia Bera answers:
I'm in my 30s and ready to buy a home. Should I get a 15-year mortgage or a 30-year mortgage? What's the difference, and how do I decide?
Picking a mortgage really depends on your personal situation. There is no one “right” answer.
First we had JPM confirming what we all knew about the third quarter: it was a disaster for anyone who originates mortgages, whose balance sheet relies on Net Interest Margin, and whose income statement is dependent on trading volumes. Now, it is Citi's turn. Moments ago the bank reported uberadjusted EPS of $1.02 missing expectations of $1.04, unchanged from a year ago, and revenues, ex CVA/DVA, of $18.2 billion, down 5% from Q3 2012, and missing expectations $18.71 billion, by over $500 million.
Under guise of helping homeowners, president Obama has finalized his plan to further aid banks. Please consider Obama's alleged Mortgage Relief Plan.
The White House on Tuesday announced it was cutting the mortgage fees charged by the Federal Housing Administration’s refinancing program in another effort to help the languishing housing market recover.