Jon Starr's (jonthemortgageguy) Blog

By
Real Estate Mortgage Broker - West Town Savings Bank

ARCHIVED BLOG POSTS

2011 

Market is getting hit even harder as Mortgage Rates Rise to a 3 week high. The current FNMA 4.5 Coupon is down 11 basis points. The national average for a 30 year conforming fixed was 4.59% yesterday and 4.44% a week ago. Today the average is 4.63% and most likely will be even higher by days end....
Posted almost 3 years ago
Key Events Today:8:30 - Last week's Initial Jobless Claims report didn't bode well for the June payrolls figure, which is compiled based on data from that period. Weekly claims rose 9,000 to 429,000, with the four-week average at 426,250. In the survey week for May's disappointing payrolls report...
Posted almost 3 years ago
It's the last day of the 2nd quarter and the Fed's 2nd Quantitative Easing program. And stocks and bonds are both off to a positive start as the Greek parliament, having accepted a five-year austerity plan on Wednesday, now prepares to vote on implementing those measures today. The two-year Treas...
Posted almost 3 years ago
Please feel from to ask me anything mortgage related and i will be glad to help. I can also be emailed directly at jstarr@westtownsb.com Thank you all JS
Posted almost 3 years ago
The Day Ahead: Final Greek Austerity Vote DominatesHeadline news is likely to take center-stage tomorrow as the Greek Parliament will take a final vote on implementing newly agreed upon austerity measures. Today's vote represented a broad acceptance of a medium-term austerity plan, tomorrow Parli...
Posted almost 3 years ago
As expected defensive Posture Assumed into Long Weekend"Rate sheet influential" mortgages are experiencing modest price losses today after Greek lawmakers agreed to implement aggressive austerity measures this morning. Based on the market's reaction to this news, this was a widely expected outco...
Posted almost 3 years ago
Bonds got beat up badly yesterday as a combination of overbought technicals, quarter-end debt auction supply, and a rally in the stock market all pressured interest rates significantly higher. The 10yr note went out +10.6bps in yield at 3.035% while "rate sheet influential" MBS coupons closed -18...
Posted almost 3 years ago
The MBS info is posted in the WSJ, but by that time it is dated (i.e. from the day before). The BS market is composed of a variety of securities that are backed by residential mortgages through Fannie Mae, Freddie Mac (conventional loans) and Ginnie Mae (which is for FHA / VA loans). The MBS mark...
Posted almost 3 years ago
If you have any questions at all please post or email me (jstarr@westtownsb.com) your question about the MBS markets, Mortgage Rates or qualification for a home loan. Thank you JS
Posted almost 3 years ago
 U.S. lenders and community bankers sounded the alarm to lawmakers on Tuesday over proposed federal rules aimed at reducing risk-taking on mortgage lending, saying the guidelines could hurt small banks and impair credit markets. The rules -- mandated by the passage of the Dodd-Frank Wall Street o...
Posted almost 3 years ago
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Jon Starr

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