Scott Springborn's (springborn) Blog

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Mortgage and Lending - Back Bay Funding
RECENT BLOG POSTS
Mortgage markets improved last week, carried by the same stories that have led markets better since April. Worries of a Eurozone sovereign debt default mounted, and the U.S. economy’s revival showed itself to be slower than originally anticipated. In Greece, the nation readied itself for its sec...
06/06/2011
The March Case-Shiller Index was released this week and it corroborates the findings of the government’s mostrecent Home Price Index — home values are slipping nationwide. According to the Case-Shiller Index’s publisher, Standard & Poors, home values fell in March from the year prior. The Ma...
06/03/2011
Tomorrow morning, at 8:30 AM ET, the Bureau of Labor Statisticsreleases its Non-Farm Payrolls report for May. If you’re floating a mortgage rate right now — or are in the process of shopping for a loan — consider locking your rate sooner rather than later. The Non-Farm Payrolls report can be a m...
06/02/2011
Another quarter, another sign that mortgage lending may be easing nationwide. The Federal Reserve’s quarterly survey of senior loan officers revealed that an overwhelmingly majority of U.S. banks have stopped tightening mortgage requirements for “prime borrowers”. A prime borrower is one with a ...
06/01/2011
Mortgage markets improved last week ahead of Memorial Day and a 3-day weekend. Bond pricing ending the week higher, pushing conforming mortgage rates in California down for the 5th week out of six. Most economic news reported worse-than-expected. Initial Jobless Claims increased sharply, GDP was...
05/31/2011
Home affordability moved higher last quarter, buoyed by stable mortgage rates and falling home prices in California and nationwide. The National Association of Home Builders reports that Q1 2011 Home Opportunity Index reached an all-time high for the second straight quarter last quarter. Nearly ...
05/27/2011
Home values dropped for the sixth straight month in March 2011, according to the Federal Home Finance Agency’s Home Price Index. The Home Price Index is a government-sponsored home value tracker. The HPI report is the latest in a string of “falling home values” stories — a trend that’s troubling...
05/26/2011
Sales of newly-built homes surprised Wall Street, jumping 7 percent to an seasonally-adjusted, annualized 323,000 units last month. In addition, the supply of new homes dropped to 6.5 months — a 2-month decrease from October 2010 and the best reading in a year. The report runs counter to recent ...
05/25/2011
Mortgage rates across the state are near year-to-date lows, but locking them in this week may be difficult. As Memorial Day nears, and WallStreeters get a head-start on the long weekends, trade volume in the mortgage bond markets will dip. When bond volume drops, mortgage rates get jumpy. It’s a...
05/24/2011
Mortgage markets were unchanged last week, despite improving on four of five days. Economic data was worse-than-expected almost across the board, but neither FHA nor conforming mortgage rates in California budged. Instead, markets grappled with the just-released Fed Minutes which weighed heavily...
05/23/2011
Rainer
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Scott Springborn

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