Todd A. Hobby

Todd A. Hobby
Loan Officer
PA License #MLO-25410
NMLS # 143084
Branch NMLS # 604653
(click links above to check licenses)

Direct: 717-731-9703
Mobile: 717-329-8692
Fax: 717-731-9705

3920 Market Street, Ste. 202
Camp Hill, PA 17011

Questions? Call Todd A. Hobby at 717-731-9703.
We are always available to help make sense of the market.

Mortgage News Daily News Feed


MBS RECAP: Yet Again, Treasuries Inspired by Europe and MBS Underperform

Posted To: MBS Commentary

Both MBS and Treasuries started the day in good shape as a bout of universally downbeat data washed over the Eurozone. Speculation for some measure of central bank action at next week's meeting (European Central Bank, to be clear) also helped. German Bunds ended up trading briefly under 0.90%. As the day progressed, Treasuries began to outperform MBS noticeably. This was especially apparent when 10's made new lows heading into 3pm while MBS continued bumping their heads on a ceiling at 102-27. One of the updates on MBS Live devotes more time talking about this underperformance. Here's an excerpt: Long story short, MBS were less attractive at the spread levels achieved this morning. On top of that, we seem to have some organic resistance at 102-27 in Fannie 3.5s. This has been an...(read more)

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Mortgage Rates Closing in on 2014 Lows

Posted To: Mortgage Rate Watch

Mortgage rates fell by an almost imperceptible amount today. Some lenders were actually unchanged or slightly higher. The actual NOTE rates quoted today would be identical to yesterday, with the only differences being seen in the form of modestly lower closing costs. This means that 4.125% stays intact as the most prevalently-quoted conforming 30yr fixed rate for top tier scenarios. All that having been said, the slow trickle of improvement is gradually bringing rates closer to their best levels in 2014. It would only take another few days of these improvements to get there. The bond markets that underlie mortgage rates started strong today, once again benefiting from strength in European bond markets. We talked about this phenomenon at length yesterday ( Read More: How Long Will Low, Flat...(read more)

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Housing Market Normalizing... Very Slowly

Posted To: MND NewsWire

Freddie Mac said today that the housing recovery continues to be a primarily local phenomenon . While markets with strong economies and favorable demographics are continuing to improve at a strong pace most markets are still generally weak and the housing market as a whole continues to plod along The company released its most recent Multi-Indicator Market Index (MiMi) on Wednesday, with a current value of 73.7. This indicates a weak housing market overall, with only a slight improvement (0.04 percent) from May to June and a 3-month positive trend of 0.16 percent. On a year-over-year basis the MiMi has risen by 7.67 percent. MiMi combines proprietary Freddie Mac data with current local market data to assess where the nation's housing market as well as those in each of the 50 states and the District...(read more)

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Home Price Increases Lower than Inflation in Some Areas

Posted To: MND NewsWire

Home prices have now increased on a quarterly basis 12 consecutive times. The Federal Housing Finance Agency (FHFA) said yesterday that the 12 th increase in its purchase-only seasonally adjusted House Price Index (HPI) was a 0.81 percent rise in the second quarter of 2014. The seasonally adjusted monthly index for June was up 0.4 percent from May, its seventh consecutive monthly increase and the 23 rd month it has gained out of the last 24. Normal 0 false false false EN-US X-NONE X-NONE A closer look at the quarterly numbers however confirms the data reported by Case-Shiller, Core-Logic, and others; those price increases are far from being as muscular as they once were. Quarterly increases peaked in Q2 of 2013 at 2.29 percent (9.14 percent annualized) and annual increases hit a high of 8.30...(read more)

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Black Knight Provide Sneak Peak at July Mortgage Data

Posted To: MND NewsWire

Distressed housing measures continued on a somewhat jagged path toward normalcy in July according to preliminary numbers released by Black Knight Financial Services today. The company's "Early Look" at some of the data from its monthly Mortgage Monitor report due out next week again shows a general downward trend in delinquencies and foreclosure activity. Foreclosure starts rose again , the third consecutive month they have done so. The number of properties entering foreclosure rose 2.72 percent from June to 90,700 but despite the increase starts are down 19.59 percent from July 2013. The number of properties 30 or more days past due but not yet in foreclosure dropped by 34,000 in July to 2.85 million, 344,000 fewer delinquencies than in July 2013. The 30+ day delinquency rate at the end of...(read more)

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