Stephen Todd Gieringer
PA License #MLO-34535
NMLS # 396455
(click link above to check license)
Branch NMLS # 202731
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
Posted To: MND NewsWireRecognizing that real estate investors have played a key role in the state's housing market recovery, the California Association of Realtors® (C.A.R.) recently surveyed its members about their interactions with investor customers and have developed a profile of investors and their behavior. Two-third of investors are following a long term strategy in investing, buying and holding property although three-quarters of intend to hold the property for less than six years . About one-quarter (26 percent) of inventors buy property in order to flip it. Most investors, about 75 percent , are what C.A.R. termed small mom-and-pop type , owning between one and ten investment properties. Fifteen percent own one property, 46 percent own two to five, and 14 percent own six to 10. Owners manage more than...(read more)
Posted To: MBS CommentaryMBS Live : MBS Morning Market Summary Like a jilted lover learning how to trust again, MBS were tentative at first, and Treasuries hesitated at 1.97 as they descended from morning weakness, but both have rallied directionally since then. The possibility and/or hope is that the highest yields and lowest prices this morning, constituted some sort of final push to the furthest reaches of the pre-FOMC range. Big volume came into Treasuries 7 minutes before Fed's Bullard's speech in Frankfurt. Either the clocks in Germany are running 7 minutes fast or dealers saw inventory getting lighter after the Fed's buying operation in 7-10yr maturities. Supply/Demand imbalances can often have an effect on Treasuries during and after the Fed's scheduled Treasury buying from 10:15-11:00am. Whatever the case...(read more)
Posted To: Pipeline PressIf you're like me and rest your weary eyes each night by reading the Fair Housing Act of 1968, then you don't need to be told that the act " prohibits discrimination in the sale, rental, or financing of dwellings and in other housing-related activities on the basis of race, color, religion, sex, disability, familial status, or national origin" . It would also come as no surprise to you that the good people over at HUD are chartered with the authority and responsibility for interpreting and enforcing the Fair Housing Act, with the power to make rules for implementation. The Act does not specify a standard for proving a discriminatory effect ( disparate impact ) violation. Notwithstanding this statutory omission, HUD and the eleven federal appellate courts that have ruled on this issue agree...(read more)
Posted To: MBS CommentaryThere continues to be little to do or say about the first two days of the week. For the most part, they merely serve as a sort of cruel waiting game (or torture rack) ahead of Wednesday's FOMC events. Those events include the Bernanke testimony to the Joint Economic Committee in the morning and of course the hotly anticipated FOMC Minutes at 2pm in the afternoon. In fact, ever since the Employment report on 5/3 set a negative trend adrift, there hasn't been one singular big-ticket event on the calendar that to inform or change the drift. The biggest swings have been tradeflow related, and we now find ourselves surprisingly in line with the original post-NFP trends from earlier in the month: Even the bigger picture trend has returned to it's mid-point. In fact, seeking out such a central zone...(read more)
Posted To: MBS CommentaryMBS Live : MBS Afternoon Market Summary Bond markets got in this morning and quickly began undoing some of the damage done by the overnight trading session. Treasuries and MBS both opened flat to slightly stronger and made further gains in the first few hours. This was soon revealed to be the same old set-up we've seen play out frequently since May 3rd. It usually ends with things starting to get slippery after 10am and drifting sideways-to-weaker in the afternoon. Today was no exception. 10yr yields ran into a floor that had been paved over on Friday after the Consumer Sentiment data. Before that, it had been a ceiling, providing a good bounce before the Friday afternoon drift took over. After bouncing there today, it was all over for 10's and MBS alike. The former moved quickly from 1.92...(read more)