Foundation Realty

Mortgage News Daily
Mortgage Rates Mostly Unchanged After Treasury Auction

When economic data is thin the stock market tends to have a larger impact on the direction of mortgage rates. The session began with stocks moving lower yesterday. With no data on the economic calendar to reverse the market's direction, the bond market was able to rally all day (higher bond prices = lower bond yields). This allowed most lenders to reprice for the better. Like yesterday, the economic economic was quiet today. Two events influenced the marketplace... The Department of Treasury auctioned $21 billion 10-year notes today. Before the auction, the bond market made room for new debt supply by letting Treasury prices fall (cheapen). This pushed benchmark yields higher and led MBS prices lower. The issue must have gotten cheap enough because auction demand was strong. This led to a modest...(read more)

Forward this article via email: Send a copy of this story to someone you know that may want to read it.

USDA Rural Development System Upgrade Complete. Now Processing Conditional Commitments

Posted To: MND NewsWire

In March we learned that USDA Rural Housing funds were expected to run dry by the end of April . A month later, even though the legislation intended to provide the funding had not passed, USDA began issuing commitments for new loans, but there was a caveat: Loan approvals would be "subject to the availability of funds and Congressional authority to charge a 3.5 percent guarantee fee for purchase loans and a 2.25 percent guarantee fee for refinance loans." Finally, on July 29 Congress passed HR 4899 to reestablish the program as one that would no longer be subject to the annual whims of Federal funding but self-sustaining through a 3.5 percent guarantee fee paid by the borrower. Four weeks passed after the Congress did their job and appropriated unlimited funding for the USDA Rural Housing Program...(read more)

Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Beige Book: Housing Market Experiencing "Sustained Lull"

Posted To: MND NewsWire

The Federal Reserve has released the Beige Book The Beige Book is a compilation of anecdotal information and data on current economic conditions across the country. The findings are NOT THE VIEWS OF FEDERAL RESERVE OFFICIALS ...instead, each Federal Reserve bank interviews key business contacts, economists, market experts, and other sources in their specific district. This report is published eight times a year. They call it the Beige Book because its Beige . This edition was prepared at the Federal Reserve Bank of San Francisco and is based on information collected on or before August 30, 2010. Below is a summary of the findings and a few excerpts on bank lending and housing. I called attention to some of the more important observations. Real Estate and Construction Activity in residential...(read more)

Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Indirect Bidders Steal the Show at 10 Year Auction. Yields Lower as Shorts Cover

Posted To: MBS Commentary

Treasury just auctioned $21 billion 10 year notes . Auction demand was healthy thanks to one group of bidders specifically. The bond market has responded favorably in post auction trading. The high yield was 2.67%, which was 1.5 basis points below the 1pm "When Issued" yield, indicating bidding was aggressive, mostly because the market was able build in a big pre-auction concession. The bid to cover ratio was 3.21 bids submitted for every 1 accepted by Treasury. This is the strongest btc ratio since the June auction. Primary dealers took down 38.3% of the competitive bid and 18.1% of what they bid on, both metrics are below average. This implies someone else was standing at the ready to support supply offerings. That someone else was indirect bidders! Indirects took home a whopping 54.7% of...(read more)

Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Purchase Apps Up 6.3%. Refinance Demand Declines 3.1%

Posted To: MND NewsWire

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 3, 2010. The MBA's loan application survey covers over 50% of all U.S. residential mortgage loan applications taken by retail mortgage bankers, commercial banks, and thrifts. The data gives economists a snapshot view of consumer demand for mortgage loans. In a low mortgage rate environment, a trend of increasing refinance applications implies consumers are seeking out a lower monthly payment. If consumers are able to reduce their monthly mortgage payment and increase disposable income through refinancing, it can be a positive for the economy as a whole (creates more consumer spending or allows debtors to pay down personal liabilities like credit cards). A falling trend...(read more)

Forward this article via email: Send a copy of this story to someone you know that may want to read it.

No account yet? Create one

Type

MLS#

City

Street

Sq. Feet

Bedroom(s)

Acreage>

# Unit(s)>

Bath(s)

Class

Use

ZIP

Price Range
to

Foundation Only

MLS #: 2011928

Listing Price: $116900

Status: Active

Aprox Acreage: 0.54
Square Feet: 1248
# Half Baths: 1
# Full Baths: 2
Master Bath: Yes
Basement: Yes
Fireplace: No
# Bedrooms: 3
Lake Access: No Water Selection
Frontage: RF
Nearby Lake: None
Subdivision: Mystic Hills
Taxes: 953.52
Lot Size: 105x229x223x100

Year Built: 2009

Address: 3683
Street: MYSTIC CT.
City: Adrian
State: MI
Zip: 49221

Township: Raisin
County: Lenawee
School District: Tecumseh

Listing Office: Foundation Realty, LLC
Listing Agent: Baker, Mark

If you would like to inquire about this property contact us at:

Phone: 517-266-8888
Fax: 517-265-8880

Public Remarks:
BRAND NEW HOME TURNKEY HOME!! Many upgrades: maple kitchen, granite bath tops, hardwood floor in entry.

Page generated in 0.0649 seconds.

Design and Hosting by Enertia Solutions | Administration