| What's Moving The Market |
 Yesterday Ben Bernanke essentially implied the Fed isn't likely to ease again by purchasing Mortgage Backed Securities or treasuries; given the reaction in the rate markets it appeared there were more than a few betting that the Fed would do another Quantitative Easing (QE). No easing and more positive news from Europe are combining to push interest rates higher as traders and investors step away from long bond positions.
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| State of the Housing Market |
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 Delinquencies and Foreclosures Decline in Latest MBA Mortgage Delinquency Survey.
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 7.58 percent of all loans outstanding as of the end of the fourth quarter of 2011, a decrease of 41 basis points from the third quarter of 2011, and a decrease of 67 basis points from one year ago, according to the Mortgage Bankers Association's (MBA) National Delinquency Survey. The non-seasonally adjusted delinquency rate decreased five basis points to 8.15 percent this quarter from 8.20 percent last quarter. Read on. |
