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Mortgage & Housing Market News from HSH.com

HSH’s Latest Two-Month Forecast

January 10th, 2009 | 1 Comment | Posted in Announcement, News by Tim Manni

Every two months, the mortgage-market analysts at HSH recap the events of the past two months, and make a prediction on the future direction of mortgage rates.

“Since our last forecast, significant portions of the residential mortgage market have been reshaped due to government intervention and — in some ways — due to a lack of government action. We’ve come through an election cycle, seen hundreds of billions of dollars spent trying to comfort financial markets, and heard the promise of hundreds of billions more dollars in various forms of ’stimulus’ that may be on the way. For mortgages and real estate, at least one important support is in place; others may arrive under a new administration.”

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HSH’s Holiday Schedule

December 23rd, 2008 | Leave a Comment | Posted in Announcement, News by Tim Manni

HSH’s offices will be closed on Wednesday, December 24 and on Thursday, December 25. We’ll be back in the office on Friday, December 26.

We’d like to wish our readers and visitors all of the joy of this holiday season.

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Monday’s Market Trends Recap

November 17th, 2008 | Leave a Comment | Posted in Announcement, News by Tim Manni

Some big changes to government programs came along last week. “Treasury Secretary Paulson all but abandoned the original Troubled Asset Relief Program (TARP). The process of culling rotten loans and securities turned out to be more cumbersome and slow than expected, and our guess is that lenders simply failed to show much interest in the program, which would have exposed those assets to some pretty harsh market valuations.”

“Whatever the reason, the focus (and at least some of the remaining cash in the TARP) will be put toward building backstops for AAA-rated markets for auto loans, credit cards, and other kinds of loans. The goverment still hopes to spur this kind of lending, since it came to a crashing halt over the last few weeks with dire consequences for the economy, which continues to struggle considerably.”

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Markets, HSH Closed

November 11th, 2008 | Leave a Comment | Posted in Announcement by Tim Manni

It’s Veterans Day. In addition to honoring all those who have served our country in the military, it’s a bank holiday. HSH is also closed, but our offices will be open tomorrow.

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Monday’s Market Trends Recap

November 10th, 2008 | Leave a Comment | Posted in Announcement, News by Tim Manni

HSH’s latest issue of its Market Trends Newsletter, “Mortgage Markets, Election Aftermath,” discusses the election’s influence on the movement of last week’s mortgage rates. As the Fed pondered loans for the auto industry, factory orders and manufacturing activity declined, yet despite job cuts worker productivity increased:

In the weeks leading up to the election, mortgage rates bounced higher and lower by unusually large amounts on a week to week basis. This week was a little different, in that the size of the up and down stroke diminished somewhat. Swings in rates have been up 40 basis points, down 37, up 34 again and down again this week. Perhaps we are trending back toward a more stable period.

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HSH In The News

October 30th, 2008 | Leave a Comment | Posted in Announcement, News by Tim Manni

HSH Associates is featured twice in today’s Wall Street Journal — once on the front page in a story titled “Fed Steps Up Assault on Slump,” and the other on page A3 titled “Mortgage Plan Isn’t Cutting Rates.”

Whenever new or important news is announced in the financial world, especially when there’s a shift in mortgage rates, news outlets from around the country, even the globe, turn to HSH to find out exactly how the news will influence consumers and the economy.

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Developing Story: FDIC May Aid in Foreclosure Rescue

October 30th, 2008 | 2 Comments | Posted in Announcement, News by Tim Manni

A few sources have begun to leak information regarding the FDIC’s negotiations with the Treasury Department to rework as many as three million mortgages. The initiative comes as Congress has grown increasingly frustrated with the $700 billion allotted for a financial rescue being mostly dedicated to financial institutions rather than homeowners.

The program which is estimated to cost between $40-$50 billion, is designed to get lenders to agree to reduce a borrower’s monthly payments by either reducing their interest rate or the principal on the loan. The appeal for lenders resides in the governments guarantee to repay the lender a portion of their losses if the homeowner defaults on the newly restructured loan.

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Shopping for a Mortgage?

October 28th, 2008 | 1 Comment | Posted in Announcement by Tim Manni

As you read in this week’s Market Trends, sales of existing homes rose 5.5% in September. That’s largely a result of home prices falling more than 16% in the past year. Are you among the throngs of homebuyers who are in the market for a mortgage?

We can help you in a couple of ways. First, there’s our Lender Showcase, where our advertisers are ready to eagerly compete for your business.

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Our Latest Two-Month Forecast

October 23rd, 2008 (Modified on October 24th, 2008) | Leave a Comment | Posted in Announcement, News by Tim Manni

What’s happened since our last forecast? Well, the sweeping housing bill signed back in July has just started to kick in, but has since been dwarfed by other efforts. Fannie Mae and Freddie Mac were put into conservatorship by their regulator, effectively nationalizing their function in the mortgage market (buying loans from lenders to produce liquidity).

Read our latest forecast here.

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Our New Daily Rates Chart

October 7th, 2008 | Leave a Comment | Posted in Announcement, News by Tim Manni

The ongoing financial mess has a lot of visitors asking us for more information on short-term rates.
Thus, we’re pleased to introduce this chart of indicators including daily conforming mortgage rates, Treasuries, Fed Funds, overnight Libor, and even Fannie Mae/Freddie Mac required net yields (basically, the ‘wholesale’ price of mortgage money).

Let us know what you think!

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

Our bloggers:

Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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