Today was 100th Bay To Breakers marathon in San Francisco, which isn’t so much a marathon as it is a 7.46 mile race across the city, and isn’t so much a race as it is a citywide partying marathon. Photos below from SFGate’s full set. And if you don’t care for party pics, also below
May 2011
The good news is that rates begin the May 16 trading week near 2011 lows. The bad news is that it’s because of a frail economy. Rates drop when bond prices rise, and mortgage bonds have rallied the last four weeks on lower home prices, weak GDP, and low core inflation. Bonds are topped out
The good news is that rates begin the May 16 trading week near 2011 lows. The bad news is that it’s because of a frail economy. Rates drop when bond prices rise, and mortgage bonds have rallied the last four weeks on lower home prices, weak GDP, and low core inflation. Bonds are topped out
Here’s a snapshot for the week. Click image for details on each report, and read WeeklyBasis for what it all means.
CONFORMING RATES ($200,000 to $417,000) 0 POINT 30 Year: 4.75% (4.87% APR) FHA 30 Year: 4.375% (4.49% APR) 5/1 ARM: 3.25% (3.62% APR) SUPER-CONFORMING RATES ($417,001 to $729,750 cap by county) 0 POINT 30 Year: 4.875% (5.24% APR) FHA 30 Year: 4.5% (4.84% APR) 5/1 ARM: 4% (4.12% APR) JUMBO RATES ($729,751 to $2,00,000) 1
Wait a second, you mean the Facebook Share and Tweetmeme buttons on this web page have been obsolete for six months or more? And people don’t say Web Page anymore? Damn it! When did this happen?! Last week was light on posting and heavy on revising The Basis Point for a bold new six-month-or-so era.
Wait a second, you mean the Facebook Share and Tweetmeme buttons on this web page have been obsolete for six months or more? And people don’t say Web Page anymore? Damn it! When did this happen?! Last week was light on posting and heavy on revising The Basis Point for a bold new six-month-or-so era.
Below are four current home U.S. price reports, beginning with today’s CoreLogic report. All show lower prices. This coincides with 2011 rate lows, which usually means borrowers can refinance—but not without home equity needed to qualify. Cash-out refinances were the definitive product of a boom era that went bust in mid-2006. Now it’s all about
This morning DailyBasis author Rob Chrisman had a great quip on inflation: “yesterday I went through denial, anger, bargaining, depression, and acceptance—which are now the 5 stages of buying gas.” Here are the most current inflation figures, and the newest figures are due Thursday and Friday. In the meantime, here are good links, starting with
It’s almost a certainty that the super-conforming loan level in the higher-priced areas will indeed drop to $625,500 from $729,750 on October 1. Here are new loan limit memos from Fannie Mae and FHFA, and here’s an an MSNBC story on jumbo loan implications. Aventur Partners & Aventur Mortgage Capital are turning some heads in
Rates set new 2011 lows last week after mortgage bonds rose a third straight week. Previous lows were set March 16 in the aftermath of Japan’s earthquake Libya’s revolution. New lows are the result of unstable economic growth, jobs and housing data. Bonds are a safe buy when uncertainty sets in, and rates drop when
Starting this week, we’re posting end-of-week rates separately from our WeeklyBasis report on markets and the economy. You can still see rates back to July 2003 by viewing the WeeklyBasis archive. CONFORMING RATES ($200,000 to $417,000) 0 POINT 30 Year: 4.625% (4.74% APR) FHA 30 Year: 4.5% (4.62% APR) 5/1 ARM: 3.25% (3.37% APR) SUPER-CONFORMING
Here’s a snapshot of May 9-11, click image for details. Highlights are PPI and CPI inflation and retail sales. Wednesday’s Job Openings & Labor Turnover (JOLTS) survey and Thursday’s jobless claims will get more attention than usual. EU and Greece issues (not on table) will be center stage to start the week. See WeeklyBasis for
Here’s a snapshot of May 9-11, click image for details. Highlights are PPI and CPI inflation and retail sales. Wednesday’s Job Openings & Labor Turnover (JOLTS) survey and Thursday’s jobless claims will get more attention than usual. EU and Greece issues (not on table) will be center stage to start the week. See WeeklyBasis for
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