Your Residential Finance Experts At Granite Mortgage & Construction Finance we understand your need for simple, trusted, and rock-solid loan solutions. As advocates for each of our clients, we present a financing solution that fits your unique transaction. Whether you are a first time home-buyer or looking to build your dream-home, we are here to provide unparalleled customer service and a competitive mortgage product that fit your needs.
Working with someone and need a 2nd opinion?
Please take a minute and fill out our quick quote form and one of our mortgage professionals will contact you right away.
Confused by the turbulence in the housing sector and global credit markets?
Contact us for a consultation with a local, knowledgeable, mortgage professional that is here to help guide you every step of the way. |
|
|
 |
 Mortgage News Daily
How Did The Employment Report Affect Mortgage Rates? - 3 days ago
Posted To: Mortgage Rate WatchIt is the first Friday of the month and that brings us the official government report on the labor market: The Employment Situation Report. This release provides four headline measures on the health of the jobs sector. Nonfarm Payrolls: totals the number of jobs that were added to or cut from employer payrolls in the prior month. Consensus Forecast: -100,000 vs. -131,000 in July (Private payrolls increased 71,000 in July and +41,000 expected today) Unemployment Rate: the percentage of working-age, mentally able-Americans who are jobless. Consensus Forecast: 9.6% of the labor force vs. 9.5% last month Average Hourly Earnings: the average amount of earnings per hour of labor performed. Consensus Forecast: +0.1% vs. +0.2% last month. Average Work Week: average amount of hours worked by an employee...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
All Signs Point to Higher Rates in Week Ahead - 3 days ago
Posted To: MBS CommentaryNFP has come and gone, let's see where things stand.... The October delivery FNCL 4.0 is -0-09 at 102-15. In the chart below I called attention to a few technical inflection points. The ascending trend channel that helped mortgage rates hit new lows on Wednesday has broken down and FNCL 4.0s have made their way back into the range that moderated price action for the majority of August. The falling knife found support and bounced higher directly in the middle of that range. 10s flagged lower for the entire month of August (all summer really) and are now flagging higher. The 2.625% coupon bearing 10 year TSY note is off its session price lows (98-24) at 99-07 yielding 2.715% (+8.8bps). 10s are the worst spot on the curve followed by 7s (+8.6bps) and the long bond (+7.6bps). Volume was heavy into...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
FHFA Establishes New Housing Goals for GSEs - 3 days ago
Posted To: MND NewsWireThe Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises) has established its final housing goals for the Enterprises in 2010-2011. FHFA is required by the Housing and Economic Recovery Act of 2008 (HERA) to set such goals for targeted segments of the mortgage market The new rules establish three goals for single-family, owner-occupied home purchases; one for low-income families, another for very low-income families, and a third for families living in geographical areas with lower-income populations, areas with high concentrations of minority residents, or federal declared disaster areas. The goal for disaster areas contains a sub-goal to ensure that the needs of lower-income and minority areas are addressed. A goal has also been established for...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Banks Prefer Cash Buyers in REO Sales; Freddie Mac Streamline Refi Program; Originator Capacity Constraints; Comments on Property Flipping - 3 days ago
Posted To: Pipeline PressIf there's one thing that an investor will never let any originator off the buyback hook for, it's fraud . Not only that, but the penalties can go far beyond merely buying back the loan, and saying' "My bad." Just in the last few days, Laura-Jean Arvelo and Ronald O'Malley, a New Jersey mortgage broker and former head of the Bergen County Improvement Authority, was indicted by a federal grand jury on charges of preparing fraudulent mortgage applications. Both are charged with wire fraud, bank fraud and loan application fraud in order to take bogus documents and falsified applications to trick lenders into making mortgage loans and benefited from fees they received. Ryan Miller of Missouri was sentenced to more than 12 years in federal prison and pay $6 million in restitution for mortgage fraud...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it. |
 |
|
|
|
|
