Stephen Todd Gieringer

Stephen Todd Gieringer
Loan Officer
PA License #MLO-34535
NMLS # 396455
Branch NMLS # 440264
(click links above to check licenses)

Direct: 610-603-0241
Mobile: 610-413-4463
Fax: 877-592-7878

3608 St. Lawrence Ave., Ste. 102
Reading, PA 19606

Questions? Call Stephen Todd Gieringer at 610-603-0241.
We are always available to help make sense of the market.

Mortgage News Daily News Feed


MBS RECAP: Strong and Stable all Day

Posted To: MBS Commentary

It was a refreshingly strong day for MBS and Treasuries. While the gains weren't immense by any standard, they were mostly present from the start of the day and never looked to be under dire threat. Weak economic data helped get things going in the morning, though it was a bit of a mixed blessing for MBS watchers as the data in question was close to home (weak New Home Sales). The 5yr Treasury auction in the afternoon was lackluster at best--certainly not in the same league as the previous two examples from the Feb-April trend, though it did compare favorably with some older examples. Beyond that, volume and participation picked up a bit, and there was a sense that financial markets were getting back to business after an extended holiday. In the bigger picture, today's strength acted...(read more)

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Mortgage Rates Erase 2 Days of Weakness

Posted To: Mortgage Rate Watch

Mortgage rates moved lower at a healthy pace today, more than erasing the past two days of weakness, but leaving most of last Thursday's weakness intact. Some of the gains were attributable to today's much weaker than expected reading on New Home Sales earlier this morning. Downbeat economic data is typically positive for bond markets which results in lower rates. Today's strength is enough to bring the most prevalently quoted conforming 30yr fixed rate for best-case scenarios ( best-execution ) back down to 4.375% in many cases, though 4.5% remains a nearly equal contender. When adjusted for day-to-day changes in closing costs, today's rates are 0.06% lower. Today's strength runs counter to the recent trend. Most of the time in 2014, when rates have risen from 4.25%, they've proceeded to 4...(read more)

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California Pending Sales Surge; Short Sales Lowest since 2008

Posted To: MND NewsWire

California appears to be gearing up for a strong spring market according to pending home sales figures released today by the California Association of Realtors® (C.A.R.). The group reports that, based on contracts for home purchases, pending sales jumped 17.8 percent in March and were at the highest level in eight months. C.A.R's Pending Home Sales Index (PHSI) rose from 97.1 in February to 114.4 in March. Despite the sharp monthly increase, the PHSI was still well below the revised index of 126.9 for March 2013. The PHSI is a forward-looking indicator that provides information on the future direction of home sales. Pending sales are generally expected to close within 60 to 90 days. The share of equity sales continued to rise steadily in March as it has for the last year. Equity or non...(read more)

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Housing Market Improving at Slower Pace, but There's a Catch

Posted To: MND NewsWire

The February edition of the new Multi-Indicator Market Index (MiMi) introduced by Freddie Mac last month indicates that the U.S. housing market overall is recovering at a slightly slower pace than it was in January. Nonetheless, the report shows that more than half of both the states and the top 50 metropolitan areas are still improving. MiMi uses proprietary Freddie Mac data and information on local markets to assess where each market currently is in relation to its own long-term stable range for home purchase applications, payment-to-income ratios (which allows measurement of changes in home purchasing power), proportion of on-time mortgage payments, and the local employment picture. And that's the catch : an index that ostensibly speaks to "the housing market" is currently drawing strength...(read more)

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Home Sales Tank; Inventories and Prices Surge

Posted To: MND NewsWire

New homes sales in March were down 14.5 percent from sales in February to a seasonally adjusted annual rate of 384,000. The New Residential Sales report issued today by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development February revised February sales numbers to 449,000 from the original report of 411,000. March 2014 sales were 13.3 percent lower than the estimated 443,000 new home sales in March 2013. On a non-seasonally adjusted basis an estimated 36,000 new homes were sold in March compared to 37,000 in February and 41,000 in March 2013. Sales in all four regions were also lower than a year earlier and only the Northeast saw an improvement on a monthly basis, with sales rising 12.5 percent from February. Annual sales fell 22.9 percent in that region. Sales in...(read more)

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