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- Pasadenan
- Contributions:21432
3.606% average ZMM 30 yr fixed rate quote today:
web address:
http://photos2.zillow.com/is/image/i0/i13/i4101/IS-8pz0753bqt7h.jpg
web address:
http://photos2.zillow.com/is/image/i0/i13/i4101/IS-8pz0753bqt7h.jpg
- Pasadenan
- Contributions:21432
Looks like Clay was right on... average ZMM 30 yr fixed rate quote for the day came in at 3.584%:
web address:
http://photos1.zillow.com/is/image/i0/i13/i3875/IS-8nbf12pa8v31.jpg
daily tend for the month:
web address:
http://photos2.zillow.com/is/image/i0/i13/i3876/IS-8nbvp3zndkrh.jpg
web address:
http://photos1.zillow.com/is/image/i0/i13/i3875/IS-8nbf12pa8v31.jpg
daily tend for the month:
web address:
http://photos2.zillow.com/is/image/i0/i13/i3876/IS-8nbvp3zndkrh.jpg
- Pasadenan
- Contributions:21432
Yes, 3.58% average ZMM now for the hour of 8:00 am to 9:00 am PDT... but the averages for the day are still going to come in about the same or higher than yesterday, due to the higher morning quotes.
And we are not going to be dropping back down to where they were the day before yesterday, today.
And we are not going to be dropping back down to where they were the day before yesterday, today.
- Clay Branch, "Georgia Loans"
- Contributions:7832
Yo, it already moved down from 3.64 to 3.59 right over there>>>>>>
- Clay Branch, "Georgia Loans"
- Contributions:7832
So far this morning it looks like we may gain back what we lost yesterday, maybe back to 3.59 by 1:00 EDT.
- Pasadenan
- Contributions:21432
Looks like the extra-good interest rates are "over" now, at least for the time being... still not bad, but not the record lows of last week. 3.625% average ZMM 30 yr fixed quote today.
web address:
http://photos1.zillow.com/is/image/i0/i13/i3651/IS-8kov1yoafdr1.jpg
web address:
http://photos1.zillow.com/is/image/i0/i13/i3651/IS-8kov1yoafdr1.jpg
- Pasadenan
- Contributions:21432
3.566% ZMM average 30 yr fixed quote rate today (no record):
web address:
http://photos3.zillow.com/is/image/i0/i13/i3418/IS-8hxxlyykimal.jpg
How May is looking so far:
web address:
http://photos2.zillow.com/is/image/i0/i13/i3418/IS-8hxxmeqtf23h.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i3418/IS-8hxxlyykimal.jpg
How May is looking so far:
web address:
http://photos2.zillow.com/is/image/i0/i13/i3418/IS-8hxxmeqtf23h.jpg
- Pasadenan
- Contributions:21432
Back down to 3.55% for the 8:00 to 9:00 am PDT hour. But still can't set any records with that, as the record low last Friday was 3.549% for the day.
- Pasadenan
- Contributions:21432
That was supposed to say *no* new..., not "now"..., I don't know where the extra "w" came from.
3.58% for the past 3 hours on the ZMM averages. I don't expect any new records today; but do expect a slight increase in the daily average.
Those that didn't lock last Friday at the "record low" lost out again.
3.58% for the past 3 hours on the ZMM averages. I don't expect any new records today; but do expect a slight increase in the daily average.
Those that didn't lock last Friday at the "record low" lost out again.
- Pasadenan
- Contributions:21432
Now new record set today either... 3.573% average ZMM 30 yr fixed quote:
web address:
http://photos3.zillow.com/is/image/i0/i13/i3329/IS-1plsnbt3jc0nx.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i3329/IS-1plsnbt3jc0nx.jpg
- Pasadenan
- Contributions:21432
No new record set today. 3.566% average ZMM 30 yr fixed rate quote:
web address:
http://photos1.zillow.com/is/image/i0/i13/i3215/IS-1pn4k3gbhlrvh.jpg
web address:
http://photos1.zillow.com/is/image/i0/i13/i3215/IS-1pn4k3gbhlrvh.jpg
- Pasadenan
- Contributions:21432
How May is looking so far:
web address:
http://photos1.zillow.com/is/image/i0/i13/i3031/IS-1ppaiobay0py5.jpg
web address:
http://photos1.zillow.com/is/image/i0/i13/i3031/IS-1ppaiobay0py5.jpg
- Pasadenan
- Contributions:21432
3.549% average ZMM 30 yr fixed quote today! Very close to what I anticipated. Approximately 1 Basis point lower than yesterday. Essentially no market movement in spite of the Stock markets dropping again today. A new record low was set again today! But after hours quotes averaged higher. With mortgage backed securities pricing dropping through the day, it appears we will see higher interest rates Monday, and it appears that the lenders are already anticipating that, based on the after hours quoting.
web address:
http://photos3.zillow.com/is/image/i0/i13/i3031/IS-1ppaiu4g7yjbx.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i3031/IS-1ppaiu4g7yjbx.jpg
- Paul Mondello, "Paul Mondello"
- Contributions:2093
Thank you Matt and mnd!
- Pasadenan
- Contributions:21432
If Fannie prices are dropping, we should see an increase in the rate sheets, which should produce an increase in the average ZMM quote rates soon!
But I see the 7:00 to 8:00 am PDT average ZMM quote is still at 3.55%.
Not really willing to guess the average for the day yet. If I had a loan in process, I would "LOCK NOW" and not gamble away such a good rate.
But since we didn't hear any specific market news to move the rates one way or the other.... the averages could still stay about 3.55% for the rest of the day and weekend.
By Monday, I'm sure someone will come up with a reason for the stock market to recover from some of the present pessimism.
But I see the 7:00 to 8:00 am PDT average ZMM quote is still at 3.55%.
Not really willing to guess the average for the day yet. If I had a loan in process, I would "LOCK NOW" and not gamble away such a good rate.
But since we didn't hear any specific market news to move the rates one way or the other.... the averages could still stay about 3.55% for the rest of the day and weekend.
By Monday, I'm sure someone will come up with a reason for the stock market to recover from some of the present pessimism.
- Paul Mondello, "Paul Mondello"
- Contributions:2093
Or it goes the other way and cost of rates steepen ... ?
- Pasadenan
- Contributions:21432
3.55% average ZMM from the 6:00 to 7:00 am PDT hour this morning...
That is about where it was at the close of markets yesterday... it looks like it may set another new record low today. Maybe 1 basis point difference?
That is about where it was at the close of markets yesterday... it looks like it may set another new record low today. Maybe 1 basis point difference?
- Pasadenan
- Contributions:21432
So here is how the ZMM daily averages for May have been coming in so far:
web address:
http://photos3.zillow.com/is/image/i0/i13/i2839/IS-1prjtedxf5rh9.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i2839/IS-1prjtedxf5rh9.jpg
- Pasadenan
- Contributions:21432
New record low set again today! 3.561% average ZMM 30 yr fixed quote:
web address:
http://photos2.zillow.com/is/image/i0/i13/i2839/IS-1prjti81l1lr1.jpg
web address:
http://photos2.zillow.com/is/image/i0/i13/i2839/IS-1prjti81l1lr1.jpg
- Pasadenan
- Contributions:21432
No question about it... with the past couple hours having really good average ZMM quote rates, today will set a new ZMM record low. Don't know the exact number yet, but it is looking a lot closer to 3.56% for the day presently. For the 3:00 to 4:00 pm PDT hour, the average was 3.55%. So we are looking at likely at least 2 basis points drop from yesterday's record low average.
No, I don't expect the average to reach 3.50% by the weekend; but if things keep up like they have been, it is not out of the realm of possibility.
No, I don't expect the average to reach 3.50% by the weekend; but if things keep up like they have been, it is not out of the realm of possibility.
- Pasadenan
- Contributions:21432
Down to 3.54% average ZMM quote for the past hour (1:00 to 2:00 pm PDT). It looks like the average for the day may be even lower than I guessed...
(Not willing to revise my guess yet though).
(Not willing to revise my guess yet though).
- Pasadenan
- Contributions:21432
The ZMM average 30 yr fixed quote rate stayed at 3.56% for 12:00 to 1:00 pm PDT.
I'm going to "guess" 3.579% average ZMM for the day... we will see how close I come at the end of the day. We have had 5 really good hours so far, with good quoting volume.
I'm going to "guess" 3.579% average ZMM for the day... we will see how close I come at the end of the day. We have had 5 really good hours so far, with good quoting volume.
- Pasadenan
- Contributions:21432
I see that ZMM average quotes based on the rate sheet revisions already reacted to the Greek news and rise in MBS pricing...
Average ZMM for 11:00 to 12:00 PDT was 3.56%. We may actually see another "new low" record set for interest rates today yet.
It will be interesting to see the average ZMM quote rates for 12:00 to 1:00 PM PDT in about 15 more minutes.
Average ZMM for 11:00 to 12:00 PDT was 3.56%. We may actually see another "new low" record set for interest rates today yet.
It will be interesting to see the average ZMM quote rates for 12:00 to 1:00 PM PDT in about 15 more minutes.
- Paul Mondello, "Paul Mondello"
- Contributions:2093
- Paul Mondello, "Paul Mondello"
- Contributions:2093
More bad Greek news enters stage right http://www.reuters.com/article/2012/05/17/us-ecb-greece-idUSBRE84G0DA20120517
- Pasadenan
- Contributions:21432
I also noticed that it is not the RGN cookie that affects what area that average rates are shown for in the right margin... but the SEARCH cookie.
Still, it is best to clear both.
Still, it is best to clear both.
- Pasadenan
- Contributions:21432
3.57% average ZMM for the past hour... (8 AM to 9 AM PDT). If that holds for the day... it will set a new record low. But it was at 3.57 yesterday for the 7 AM to 8 AM PDT hour, so it really is too early to tell.
Still, 3.57% average ZMM is better than the 3.60% hourly averages we were seeing earlier today.
The Philly Fed news seems to slowly be affecting the rate sheets.
Not to mention, the other "news" of "no changes" where changes may have been anticipated.
Still, 3.57% average ZMM is better than the 3.60% hourly averages we were seeing earlier today.
The Philly Fed news seems to slowly be affecting the rate sheets.
Not to mention, the other "news" of "no changes" where changes may have been anticipated.
- Pasadenan
- Contributions:21432
"The 10 year yield continues it's decent down." -
Not surprising considering the Philly Fed news... it will be interesting to see if the 3.0 Fannie MBS follows suit...
Two other reasons that ZMM average is lower then Freddie Survey average in addition to the lag time are:
1) the ZMM averages shown are for 20% down or better LTV ratio.
2) the ZMM averages shown are for 740+ FICO score.
(It looks like I have that marked as 720+ FICO on the chart titles, so I need to correct that).
Not surprising considering the Philly Fed news... it will be interesting to see if the 3.0 Fannie MBS follows suit...
Two other reasons that ZMM average is lower then Freddie Survey average in addition to the lag time are:
1) the ZMM averages shown are for 20% down or better LTV ratio.
2) the ZMM averages shown are for 740+ FICO score.
(It looks like I have that marked as 720+ FICO on the chart titles, so I need to correct that).
- Paul Mondello, "Paul Mondello"
- Contributions:2093
The 10 year yield continues it's descent down to?.
- Pasadenan
- Contributions:21432
Posting the ZMM daily average chart for May 2012 again, so that one can visualize what difference a 1-week lag makes on the average rates:
web address:
http://photos3.zillow.com/is/image/i0/i13/i2696/IS-89gzwr1uf5ul.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i2696/IS-89gzwr1uf5ul.jpg
Rates on the move again!
Bring on Pasa and the charts.
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