Mortgage Applications Up Again in MBA Weekly Survey: The Market Composite Index increased +1.6%, Refinance Index increased +4%, Purchase Index increased +0.3%.

MBA reported the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($484,350 or less) decreased to 4.55% from 4.64%. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) decreased to 4.37% from 4.45%. The average contract interest rate for 30-year fixed-rate mortgages backed by FHA decreased to 4.59% from 4.61%. The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.97% from 4.02%. The average contract interest rate for 5/1 adjustable-rate mortgages decreased to 3.99% from 4.09%. The ARM share of activity decreased to 7.1% of total applications.

Initial claims increased 6,000 to 229,000.

The 4-week moving average was 223,750, a decrease of 2,500 from the previous week. Continuing claims for the week ending March 2 was 1,776,000, an increase of 18,000 from the previous week’s revised level. The 4-week moving average was 1,766,250, a decrease of 1,000.  

Nonfarm Payrolls rose 20,000 in February, and the unemployment rate was 3.8%, down from 4.0%.

Economists had expected 180,000 new jobs and a 3.9% unemployment rate in February. Employment in professional and business services, health care, and wholesale trade continued to trend up, while construction employment decreased. Wages rose 3.4% from a year earlier in February, a pace last matched in April 2009. Average hourly earnings for all private-sector workers increased 11 cents last month to $27.66. The average workweek was 34.4 hours in February, down from 34.5 a month earlier.
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Three reasons to choose us for all your Ideal hedging

Services

Maximize your Execution The mortgage pipeline is a very dynamic component of a mortgage banking business. Each day, new locked applications are coming in, loans are closing, locked applications are being denied or withdrawn and terms of existing locks are

Philosophy

At Vice Capital Markets, our hedging philosophy and process is both conservative and analytical.  Using your own historical data, we determine the expected fallout levels for each type of mortgage product in your pipeline.  Using this information along with the

Benefits

  Primary Benefits of Hedging Greatly improved execution over best efforts. In typical market environments, a 25 to 55 basis point improvement in execution is realized. In high-volume environments, double the typical improvement is not unusual. Improved flexibility and execution
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At Vice Capital Markets our goal is to help you

Since 2001, Vice Capital Markets has successfully managed the interest rate risk and maximized the profitability on over $400 billion of mortgage-backed securities trades and mortgage-related transactions.

Our expertise and familiarity with many types of executions and end investors has yielded superior results for our clients.

Through long rallies, swift declines, and multiple interest rate shocks our fallout models and risk management strategies have steadily and successfully weathered market fluctuations of all degrees.

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Troy D. Baars

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Shawn D. Ansley

Managing Director

Kimberly M. Campbell

Vice President

Christopher M. Bennett

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