Shadow Inventory Remains Flat in January

By
Mortgage and Lending NMLS 291249

MORTGAGE LOCK ADVISORY 

March 22, 2012, 6:30 AM PST

Click for Lock Advice Updated Several Times Daily  

     

Mortgage Interest Rate lock Advice for locks within 8 days: FLOAT 

Mortgage Points based on 3.5% Mortgage Backed Securities are down 0.03 point. 

 

30 Day Mortgage Interest Rate Lock or Float Advice:  LOCK

 

MORTGAGE MARKET INDICATORS 

National Average Fixed Rate Mortgage 3.875%   
MBS (3.5%) - 102.25, High: 102.47, Low: 102.25   
DJI Stocks currently $13,065.89,  Down $-58.73, Change -0.449%   
Asian & European Stock Market Indexes Down -0.656%   
Nymex Crude Oil Currently $105.01 Down $2.26   
Gold 1 Once - 1633.6 

                
MORTGAGE NEWS BRIEFS

 

Shadow Inventory Remains Flat in January 

CoreLogic has reported that the current residential shadow inventory as of January 2012 was 1.6 million units (six-months' supply), approximately the same level reported in October 2011 >> Read More Mortgage Professional

 

US Housing Starts Drop 1.1% In February, But Building Permits Rise
 
(RTTNews) - New residential construction in the US showed an unexpected decrease in the month of February, according to a report released by the Commerce Department on Tuesday, although housing starts came in nearly in line with estimates due to an >> Read More in RTT News

 

Mortgage Rates Rise To Highest Levels Of The Year
 
With the new week comes new pain for Mortgages Rates, which rose to their highest levels of the year today.  Lenders have been adjusting their rate sheets all day and by varying degrees, so there's greater than normal degree of variation between them.>>Read More Mortgage Daily News

  

One BofA Manager Signs 67,908 Documents in 2 Year Period
A Bank of America manager said she read the first paragraph of a document, and then located the place she needed to sign.  She spent 1-1/2 to 2 hours per day on signing documents and two to three minutes on each. >>Read More Mortgage News Daily

 

FHA 203k Renovation Loans - All You Need To Know - Nine Minute Video 

Provide Your Clients With Options - Energy Efficient Mortgages - 4 Minute Video

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Anonymous
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Rainmaker
715,991
Sharon Parisi
Keller Williams Dallas Premier Realty - Dallas, TX
Dallas Homes

Buyers need to be aware that real estate markets are local and this general information may not sync with their micro market.

Mar 22, 2012 06:42 AM #1
Anonymous
Anonymous
Anonymous
Great blog and great job. Keep up the good work and good luck to you this year. Thanks.
Mar 22, 2012 06:55 AM #2
Rainmaker
612,560
Bill Ladewig
Escondido, CA
Experience Is Your Advantage

Sharon, your exactly correct, local markets count most.

Josh, thanks for your kind comment and good luck to you also.

Mar 22, 2012 07:58 AM #3
Rainer
120,136
Ronald Gillis
Southwest Florida Notaries (Mortgage Notary Signing Agent) - Port Charlotte, FL
CNSA Southwest Florida. Notaries, Port Charlotte, 941-7-NOTARY

What caught my attention was the robo-signing article.  Most people think these are "technicalities" and have stoped, neither of which is correct.  While foreclosures have brought this to light, it effects everyone as this is garbage in our land records that will take decades to fix along with lots of money.

Mar 23, 2012 07:01 AM #4
Rainmaker
401,624
Laura Filip RE/MAX UTOPIA | Whitesboro Tx 76273 903-271-4978
RE/MAX UTOPIA Whitesboro Tx 76273, Serving all of Texoma - Whitesboro, TX
Your locally owned RE/MAX OFFICE WHITESBORO TX

The foreclosure market is still strong in our area. I wonder how this will affect those brokers that are getting almost all of the work when the foreclosure market slows way down? Have a blessed day

Mar 30, 2012 10:55 AM #5
Rainmaker
612,560
Bill Ladewig
Escondido, CA
Experience Is Your Advantage

Ronald, thanks for your comment and you are correct about the long term problem

Laura, the biggest mistake for long term success is basing your business on temperary situtations.  The only way to long term success is to base your business on new purchases and take all other business as a bonus.  This holds especially true in lending.

Mar 30, 2012 11:38 AM #6
Rainmaker
401,624
Laura Filip RE/MAX UTOPIA | Whitesboro Tx 76273 903-271-4978
RE/MAX UTOPIA Whitesboro Tx 76273, Serving all of Texoma - Whitesboro, TX
Your locally owned RE/MAX OFFICE WHITESBORO TX

Bill you are correct on that exacty right. We need to work all areas and not get used to our inbox being full with listings. Have a great day. Talk to you soon

Mar 31, 2012 11:19 AM #7
Rainmaker
87,000
Jim Brooks
The Brooks Team- Realty One Group - Henderson, NV

Bill,

 Very informative and useful post. Keep up the great blogging work and all the best to you in 2012.

May 03, 2012 02:13 PM #8
Rainmaker
612,560
Bill Ladewig
Escondido, CA
Experience Is Your Advantage

Thanks Jim and best wishes to you.

May 03, 2012 02:47 PM #9
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Rainmaker
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Bill Ladewig

Experience Is Your Advantage
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