After a shortened holiday week mortgage bonds are basically where we started on Tuesday. Next on the economic calendar building permits and housing starts come out mid-week, which are not a high impact, but moderate, for mortgage bonds and interest rate pricing.
You are receiving the weekly mortgage market updates sent out on Mondays. I highly recommend taking 5 minutes to start your day to keep yourself up to date.
This week we found that investors are coming back to the market with new programs for “expanded criteria”. Expanded criteria loans are for borrowers who do not fit into the typically 20% down, high fico, money in the bank, verifiable income profile. This is great news as we continue to see the credit markets shift. If you have any questions don’t hesitate to call.