Western Maine Mortgage - Oxford Hills Maine

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WE SPECIALIZE IN:

Residential Homes

Investment Properties

Vacation/2nd Homes

Exceptional Service

Competitive Rates

No Money Down Purchases

FNMA

Conventional

FHA & VA

USDA Rural Development

REASONS TO REFINANCE:

Eliminate PMI

Cash Out

Lower Monthly Payments

WORKING WITH YOU:

As your local neighborhood lender, we would like to be your number one resource for mortgage consultation and lending opportunities.

Mortgage News Daily

Mortgage Rates End Week at Best Levels - 2 days ago
Posted To: Mortgage Rate WatchAll week we said "wait until Thursday to lock", "mortgage rates will improve after the bond auction on Thursday", "the end of the week will be the best time to lock in your loan". The Treasury auction came and went. After the last round of debt was sold, $13 billion of 30 year bonds yesterday, everything that was supposed to happen in order for mortgage rates to improve...happened. Everything except mortgage rates moving lower that is! Although prices of mortgage backed securities rallied immediately after the auction, prices soon lost progress and most lenders were not able to improve mortgage rates. To remind readers, as the prices of MBS move higher lenders can offer lower consumer borrowing costs. This was a huge letdown for us. But we were still hopeful we...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

MBS CLOSE: Higher Prices, Lower Volatility, Happy Originators - 2 days ago
Posted To: MBS CommentaryChop the 1 day chart off any time before 10AM and today ranks as one of the more boring in recent memory. In fact, there is nothing new to share since the previous post as we're still in the same range and have not digested any meaningful market events other than the sounding of the closing bell (real and figurative alike). Slightly less boring would be a longer term view that shows that this last trading day of the week has ONLY JUST TODAY brought us to the best levels seen so far this year. MBS ended up 12 ticks on the day at 100-25. The 10yr was up 17 ticks dropping the yield to 3.68 (wow! AQ talked about that days ago. Hat tip good sir). Meanwhile, stocks lost fairly big, at least in the context of late 2009 and 2010. A 100 pt loss in the dow and just over 10 pts in the S&P. But...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Loan Originators Must Be Prepared to Deal with Trailing Risks - 2 days ago
Posted To: The Garrett Watts ReportThis week I rode my mountain bike on a great trail overlooking the Pacific Ocean between Santa Cruz and Half Moon Bay. After my ride, I ventured down to the beach to see the surfers catch the giant waves that hit the California coast during the winter months. Just north of Half Moon Bay, is Mavericks, home of a famous winter surf competition. The waves are huge because of a reef one mile off shore. As I was watching the surfers in these giant waves, I remember one of my surfer friends that shared some surfing wisdom with me years ago. He said, “when you’re out in the surf, you have to watch out for that rogue or unexpected wave. That wave is the one that will knock you out. I’m always looking over shoulder for the expected.” If you are mortgage banker or broker that...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

Treasury Reports Big Jump in Permanent Loan Modifications - 2 days ago
Posted To: MND NewsWireThe Treasury Department reported Friday that 66,500 of the 902,620 homeowners who had started the trial modification period for its Home Affordable Mortgage Program (HAMP) had completed the three month trial and entered into a permanent modification by the end of December. Another 46,000 have satisfactorily completed the trial and have been given final documents but have not yet signed and returned them. Although only a 7.4% conversion rate, this is more than double the 32,400 signed permanent modifications reported at the end of November. The below chart from the REPORT provides a snapshot of HAMP progress since inception. The primary goal of the HAMP program is to reduce the monthly payment of the borrower to no more than 31 percent of monthly income. This has been accomplished for all participants...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.

MBS LUNCH: Narrow And Stable In New And Improved Range - 3 days ago
Posted To: MBS CommentaryThe bulk of the gains today came in hours between 8am and 10am, surrounding Econ Data. As bonds rallied off yesterday's auctions and Econ data, that rally was ALLOWED to extend this AM by more underwhelming econ data. And so the next logical stop for bonds has been just under and around the 3.68 milestone in the 10yr. That puts us solidly through the "challenge" level outlined below. You can also see the fence on which MBS currently sit at December's lowest pre-sell-off prices. After the long weekend, you may be able to see the next logical challenge to ongoing improvements at december's highs around 3.6. As AQ pointed out earlier, as the calendar of data and holidays returns to a semblance of normalcy, the stock lever is potentially important. It's given us everything...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.