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Tim Erwin
Cal DRE#: 01257385
Mortgage 831 - 831-426-1642
BCE and Associates - 
831-426-1662
5521 Scotts Valley Drive - Suite 110

Scotts Valley, CA 95066
Tim Direct: 831-588-7201

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Mortgage News Daily

MBS RECAP: Bonds Start Strong but Fade to 'unchanged' By the Close

Posted To: MBS Commentary

Bonds began the overnight session in unchanged territory but began to improve on various news reports that fueled a global flight-to-safety. These included the latest edition of US/China brinksmanship as well as a surprise update on the Brexit talks "collapsing." The Brexit news reaction delivered Treasuries to the domestic starting line in much stronger territory (10yr yields down into the 2.36's), but that was as far as the day's gains would go. After an hour and a half of indecision , yields began to rise right at the NYSE open. They received another push at 10am from stronger-than-expected Consumer Sentiment data (which included higher inflation expectations to boot!). Just as yields weren't willing to press any lower than yesterday's lowest levels, neither were...(read more)

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Mortgage Rates End Week Near Long-Term Lows

Posted To: Mortgage Rate Watch

Wednesday was the best day this week for Mortgage rates with the average lender at the lowest levels in more than a month and very close to the lowest levels in more than a year. Things changed on Thursday with rates moving up slightly. That said, Thursday would have been the best day in more than a month had it not been for Wednesday! Friday brought effectively no change to Thursday's levels, thus keeping the average lender very close to long-term lows . In fact, the average loan quote won't have changed in terms of the quoted interest rate during the past 3 days--only in terms of the upfront costs. In other words, APR would be slightly higher while the payment rate itself would be unchanged (APR factors certain upfront costs into a total cost of financing). In the bigger picture, rates have...(read more)

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Broker, Underwriting, MSR Products; Bank, Lender, and Credit Union News

Posted To: Pipeline Press

A capital markets friend relayed this note recently received from an LO. “When do you think stated pick-a-pay products will come back? I have some borrowers with LTVs less than 70% who could really use that. Can you find us a program to offer?” Huh? Pick-a… Pik-a-chu? As over a thousand capital markets folks head to New York this weekend to tax their livers and hear, yet again, another set of titillating GSE reform updates at the MBA Secondary conference that are heard at every conference, there is investor chatter as always, like PHH re-entering the mandatory business. At least one associated group is optimistic. U.S. homebuilders are becoming significantly more confident after a sharp downturn last year. The monthly confidence index of the National Association of Home Builders...(read more)

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Tim Erwin | 831-588-7201 | Contact Us
5521 Scotts Valley Drive, Suite 110 - Scotts Valley, CA 95066
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