Recently the Case-Shiller numbers for March were released. The low-tier index (under $125,000) continues to be show an apparent improvement. The middle-tier ($125,000 to $192,000) and the high-tier (over $192,000) continues to be flat or slightly downward bias. The Radar Logic RPX demonstrates a similar pattern. Median indices, which we can calculate more currently, demonstrate continued flattening. Who knows how much of this was market held up by the tax credit that expired in April. In the Las Vegas market, w... read more

While most of us thought mortgage interest rates would head higher after the Fed completed its program of buying MBS, rates have actually gone in the opposite direction. Well, our expectation was logical but what we did not expect was the Sovereign problems in Europe. A flight of monies out of European bonds has found itself in U.S treasuries. The mortgage market, while subject to it's own considerations such as risk pricing and supply/demand, is linked to treasuries in a second hand way. The result is a decli... read more