Investment Mortgage Guy

Mortgage rates are easing lower this morning on just-released, slightly worse-than-expected Retail Sales data from December 2010.

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According to foreclosure-tracking firm RealtyTrac, the number of foreclosure filings nationwide dropped for the second straight month in December. After falling 21 percent in November, filings were down by an additional 2 percent in December.

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Currently, relative to fixed rate mortgages, ARM pricing is excellent. Freddie Mac’s weekly Primary Mortgage Market Survey puts the 5-year ARM mortgage rate lower than the 30-year fixed rate mortgage rate by 1.02 percent.

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According to the Federal Reserve, a credit card balance of $5,000 at 23.99 percent APR won’t pay off for 16,127 years. That’s one reason why it’s important to manage your credit card rates, and renegotiate them whenever possible. Here’s how to do that.

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Mortgage markets gained last week. Demand for mortgage-backed bonds outweighed supply and conforming and FHA mortgage rates edged lower.

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For this month — and for the rest of 2011– employment data will figure big in mortgage markets and for home affordability. Today’s release is the first big splash.

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Starting April 1, 2011, loan-level pricing adjustments are increasing. Most conforming mortgage applicants will face higher loan costs.

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The Federal Reserve released its December 14 meeting minutes Tuesday afternoon. There wasn’t much there to disturb mortgage markets, thankfully.

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The housing market continues to expand, and surprise.

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Mortgage markets improved last week during a snow- and holiday-thinned series of sessions on Wall Street. This week, it’s back to normal.

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