Mortgage Lending Solutions Inc

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Enthusiasm working for you
Helping people make one of their most important decisions is a serious responsibility, but something that I enjoy doing. This enthusiasm and hard work will benefit you and help reduce the stress and anxiety often associated with real estate transactions.

Loan Pricing on Losing Streak. Rate Watchers Question QEII - 43 minutes ago
Posted To: MBS CommentaryLoan pricing is another 24.8bps worse today. Rebate has been cut by over 100bps in the past three days. 4.25% is officially "best execution" for well-qualified borrowers. There is a great deal of nervousness regarding the outlook for interest rates as it relates to QEII. I expected this to happen. The bond market got ahead of itself with QEII and now we are experiencing a correction. I am confident that the recent rise in rates is not a function of a fundamental shift in economic outlooks though. It is a factor of the pain trade playing out followed by position squaring and tactical short selling by day trading black boxes. Look at it this way... At this point QEII isn't baked into yields anymore. This seems like a good thing to me as it reduces the potential for a "buy the rumor, sell the...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

MBA Sees Higher Mortgage Rates and Reduced Refinance Demand in 2011 - 1 hour ago
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) has peered into the future and has come up with a two year forecast that will not brighten its audience's day. The MBA, which represents over 2,200 companies in the real estate financing business, sees business uncertainty and continued unemployment hurting the industry for at least another year. Jay Brinkmann, MBA's Chief Economist and Senior Vice President for Research and Economics said, "Economic growth in 2010 has been subdued and this trend will likely continue for most of 2011. Households remain cautious given the weak job market. On top of that, uncertainty regarding tax rates for next year, and the potential for tax withholding to increase at the beginning of the year, lead us to forecast that consumer spending will remain weak, particularly in...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Ginnie Mae Net Worth & Liquidity Standards; QEII Chatter; Home Owner Loan Corp; FHA Condo Recertifications; - 2 hours ago
Posted To: Pipeline PressDeanna Favre issued a statement the other day saying, "Those pictures Brett sent to that reporter were meant for me - but you know Brett - they were intercepted!" What's a poor mortgage banker to do? The MBA released their mortgage rate predictions yesterday. They expect rates on the 30-year fixed-rate mortgage will average 4.4% in the fourth quarter of 2010, increasing to a 4.7% average in the first quarter of 2011, and climbing to 5.1% by the end of next year. I am not smart enough to predict rates, nor do I really care to remember predictions from a year ago. But somewhere I seem to remember everyone and their brother predicting rates were going to go up during 2010 - and here we are with 30-yr rates near 4%. They say that economists are good at explaining why their previous predictions...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

The Day Ahead: Durable Goods, New Home Sales, $35 Billion 5s - 4 hours ago
Posted To: MBS CommentaryBenchmark interest rates continue to trend higher this morning even as equity futures point toward a lower open following marginal gains yesterday. S&P 500 futures are down 5.50 points to 1,177.25 and Dow futures are trading 44 points lower at 11,080. Ahead of a $35 billion 5-year Treasury note auction, the 5-year note is -9/32 at 99-23 yielding 1.306% (+5.3%) and the 10-year Treasury note is -17/32 at 99-09 yielding 2.709% (+6.2bps). The December FNCL 3.5 is -9/32 at 99-24 and the FNCL 4.0 is -0-07 at 102-11. The US$ index continues to strengthen this morning ? it is up 6 basis points to 77.77. Light crude oil is 1.07% lower at $81.67 per barrel, and gold prices are 0.92% lower at $1,326.35 per ounce. Meanwhile, the Wall Street Journal printed an influential article about the Federal Reserve’s...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Home Loan Closing Costs Up 1.00% in Last Two Days. Don't Panic! - 21 hours ago
Posted To: Mortgage Rate WatchYuck. Mortgage rates are not heading in the right direction. In the past two days consumer borrowing costs on mortgage rate quotes at or below 4.25% have risen nearly 1.00%. This represents a $1,000 increase in closing costs for every $100,000 in loan amount. The best par 30 year fixed mortgage rates remain in the 4.00% to 4.25% range for well qualified consumers, but 4.00% quotes are quickly approaching "not worth the points" territory, which means the costs/points structure is only advantageous to borrowers who intend to keep their mortgage for at least the next 5 years, otherwise paying points to float down your note rate is not worth the additional closing costs (ask your loan officer for a breakeven analysis). Rates below 4.00% are now considered "phantom"...still available but hard to...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

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We lend in the following states:PA and OH; Licensed by the Pa Dept.Of Banking; Ohio License (Cyndi Young)# MB.802202.000 and Westerville Branch License #MB.802202.001-BR
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