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: Massive Sell-Off in Stocks but no Rally in Bonds

Posted To: MBS Commentary

It's not often you'll see the S&P down over 30 points with less than 1bp of day-over-day movement in 10yr yields, but that's where we're heading out today. Things might have been worse for Treasuries, however, had it not been for the stock selling, which prompted some asset reallocation ahead of month-end (sell stocks/buy bonds). In reality, both sides of the market are disheartened by yesterday's super strong GDP reading because it drives the point home that Fed accommodation is likely on its last legs. Since the prodigious staying power in stocks is at least mostly a factor of Fed policy , it's no surprise to see them lower. Sure, earnings season and geopolitical headlines might be contributing, but the day's movements have much more to do with a big-picture...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Mortgage Rates Barely Higher, More Volatility Ahead

Posted To: Mortgage Rate Watch

Mortgage rates started the day in fairly rough shape with most lenders offering noticeably higher rates vs yesterday. As stock markets slid into the afternoon, the bond markets that underlie mortgage rates improved. Most lenders put out better rate sheets at some point in the day. In most cases this brought them fairly close to yesterday's latest levels though rates were just slightly higher on average. The most prevalently-quoted conforming 30yr fixed rate for flawless scenarios remains 4.25% . Tomorrow brings what is traditionally the most important economic report of any given month. The Employment Situation Report is expected to show the economy adding 233k jobs in July with the unemployment rate holding steady at 6.1 percent. Of those two figures, markets focus almost exclusively on job...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Longest Recorded Refi Boom Ends; New Demographic Emerges

Posted To: MND NewsWire

Freddie Mac has officially declared that the refinancing boom is over. The company's Refinance Report for the second quarter of 2014 said that the longest refinance boom in the 24 years since it started keeping records officially ended in the second quarter. That occasion was marked when the share of mortgages originated for refinancing fell below 50 percent for the first time since the third quarter of 2008. Frank Nothaft, Freddie Mac vice president and chief economist, said, "The housing market realized a significant shift in the second quarter of this year as refinance activity fell below 50 percent marking the onset of the first purchase-dominated market the industry has seen since 2000 and an end to the refinance boom that started in late 2008. In this time we saw fixed mortgage rates...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Concentration of Foreclosure Inventory is a Concern - CoreLogic

Posted To: MND NewsWire

While completed foreclosures increased slightly from May to June, the foreclosure inventory, a count of homes in the process of foreclosure, continued to slide. CoreLogic's National Foreclosure Report for June puts the number of homes lost to foreclosure during the month at 49,000 units. While this was an increase of 2.7 percent compared to May's 48,000 completed foreclosures, it was down 9.9 percent from the 54,000 foreclosures in June 2013. Even at the declining rate, completed foreclosures are still running at better than twice what is historically considered normal. CoreLogic points out as a basis of comparison that in the six years before the 2007 decline in the housing market, completed foreclosures averaged 21,000 per month. Since the foreclosure crisis began in earnest in September...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


MBS MID-DAY: Bond Markets Bounce Back After Anxiety-Ridden Start

Posted To: MBS Commentary

The stakes are high for the rest of this week as far as bond markets are concerned. The anxiety is obvious. Is this the turning point where we bounce off periodic lows and head higher? Even if we're only concerned about the next few weeks, that's all the time it takes to be a very real issue for current pipelines. As we discussed this morning, today was to be an intermission of sorts ahead of tomorrow's NFP, but one that could still offer clues as to the underlying momentum. That momentum looked biased toward further weakness out of the gate this morning as Jobless Claims data didn't suggest any reversals and Q2 employment cost data allayed some fears about wage pressure (hat tip to MBS Live cornerstone Andy Horowitz for pointing that out this morning). Soon after the first...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


© 2014 Tidewater Mortgage Services, Inc. All rights Reserved.   |   Licensed by the Virginia State Corporation Commission, MC-1206
Mortgage Website by iLEADnow