First Priority Financial Inc.

FHA Mortgage Insurance (MIP) and how to remove

As compared to conforming mortgages and jumbo loans, Federal Housing Administration (FHA)-backed loans are popular for several reasons. 1.The FHA allows a 3.5% downpayment 2.The FHA allows refinances without appraisal 3.FHA mortgage rates are usually very low However, one place FHA mortgages c ...
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FOMC Minutes released..

FOMC Minutes just released, providing pressure on MBS...story developing: - secret meeting on Feb 4th to discuss guidance language - All but one voting members anticipate a rate hike in 2015 - Taper will continue as economy moves along current path - Much less headwinds to economy than last year. Bottom line...no real bombshells here but it ...
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Crimea vote is in..markets not reacting as expected.

By now you know Crimean voters voted to join Russia in the election held yesterday. About 97 percent of the voters in the southern Ukraine region who took part backed joining Russia, preliminary results showed. The Ukrainian government, the EU and the U.S. consider the vote illegal, while Russia sai ...
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Great rally yesterday. Crimea at the forefront..

Yesterday the US stock market took a huge hit, this morning the selling continues in all global markets but in very early activity prior to the open at 9:30 the key US indexes were unchanged. Markets very concerned about this weekend’s vote in Crimea on a referendum to secede from the Ukraine and ...
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Monthly Bond Rollover, nice recovery today.

Treasuries and MBSs did better today; technically on the ability of the 10 yr (so far) to hold 2.80%, fundamentally because the stock market looks a little nervous. Investors and traders continue to hedge stock portfolios using treasuries. Not wanting to unwind what investors believe that in the lon ...
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Last week in review...back from HI..back to the blog

MBS OVERVIEW Mortgage backed securities (MBS) lost -94 basis points (BPS) from last Friday's close which caused 30 year fixed mortgage rates to increase and more than wiped out the prior week's +75BPS gain. The market saw the lowest rates on Monday and the highest rates on Friday. The "flight to ...
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