ARM Index Bulletin See the latest ARM indexes here Occasional news & changes about adjustable rate mortgage indexes and other financial indicators

Thursday, July 2, 2009

HSH IS CLOSED tomorrow, July 3, although the index reports will go out as usual.

TENNESSEE UPDATE: Still no "maximum effective rate of interest" for July. I have emailed them several times but have received no reply.

TENNESSEE UPDATE II: Got a nice reply from the Tennessee Department of Financial Institutions - they'll update their website shortly.

Wednesday, July 1, 2009

The 11th District Cost of Funds for May jumped to 1.832, up from 1.38% in April. We'll look into it, but that's a pretty big jump.

TENNESSEE UPDATE: Still no "maximum effective rate of interest" for July.

Tuesday, June 23, 2009

TENNESSEE usually releases the upcoming month's "maximum effective rate of interest per annum for home loans" about mid-month -- but so far, July's rate hasn't been posted. Have they changed their methodology and/or release date? If so, we haven't found it yet.

Monday, June 15, 2009

Freddie Mac's RNY page hasn't been updated yet. We'll delay the reports in the hope that the page will be updated soon.

UPDATE II: Opening RNYs appeared with a time-stamp of 10:18 AM Eastern. Reports going out now.

Monday, May 25, 2009

It's Memorial Day, a US Holiday, but reports are going out for the benefit of our overseas clients.

Friday, May 22, 2009

Freddie Mac's RNY page is back to normal with an 8:30 AM Eastern opening

MONDAY IS a US holiday -- Memorial Day -- so HSH will be closed. Index updates, however, will go out as usual.

Thursday, May 21, 2009

Freddie Mac has posted its opening RNYs as of 7:00 AM Eastern. This is new; previously they've been posting an 8:30 AM Eastern. It's now a little before 10 AM, so we will hold off a bit to see what develops. If this is their new open time, we will include that in our reports.

UPDATE: Freddie also posted a 9:00 RNY set. Should that be considered the opening, because it's closest to the 8:30 time, or should we use the 7:00 set? (We'll use the earlier one until further notice.)

Tuesday, May 19, 2009

Freddie Mac's RNY page hasn't been updated yet. We'll delay the reports in the hope that the page will be updated soon.

UPDATE: It's late and no RNYs. Reports going out.

UPDATE II: Opening RNYs appeared with a time-stamp of 11:59 AM Eastern. A short while later the backdated the opening quote to 11 AM Eastern, which is what we will quote today.

Monday, May 4, 2009

No USD Libors today: England is celebrating the Early May Bank Holiday. (Sounds like a good idea for the US, but lately banks haven't had a whole lot to celebrate...)

Monday, April 27, 2009

Freddie Mac's RNY page hasn't been updated yet. We'll delay the reports in the hope that the page will be updated soon.

UPDATE: Page updated at 10:12 Eastern. Reports going out.

Monday, April 13, 2009

Another UK holiday: it's Easter Monday, so the BBA (and the banks) are off again. Tomorrow's WSJ, like today's, will list the Thursday Libors.

Friday, April 10, 2009

It's Good Friday, which in the UK is a holiday. Thus the BBA is closed, which means that there are no Libors for today. For those using the WSJ Libor, Monday's WSJ will repeat the same values as appear in today's edition.

Many (most?) of us on this side of the pond, however, are at work.

Thursday, April 2, 2009

TECHNICAL DIFFICULTIES held up the reports. They're going out now.

Wednesday, April 1, 2009

Freddie Mac's RNY page hasn't been updated yet. Reports will be a little delayed.

UPDATE: It's late and no RNYs. Reports going out.

UPDATE II: Opening RNYs appeared at about noon Eastern -- and with a history going back to the opening. Er, except that I set the page to reload every minute, so I know better. Not funny, Fred!

Tuesday, March 31, 2009

The Wachovia Cost of Savings Index no longer appears anywhere on the Wachovia Savings website; in fact, it disappeared about a week or so ago. No sign of it on the Wells Fargo site. Thus, we obviously can't update it.

Monday, March 16, 2009

It's APOR day: Beginning today, Maryland begins enforcing the use of APORs to categorize "higher-priced mortgage loans." HSH can deliver these weekly updates as part of its Index Service.

Monday, March 9, 2009

Freddie Mac's RNY page hasn't been updated yet. Reports will be a little delayed.

UPDATE: It's late and no RNYs. Reports going out.

UPDATE II: Opening RNYs appeared at about 11 am Eastern.

Monday, March 2, 2009

"Average Prime Offer Rate" (APOR) Tables are now available from HSH Associates. Subscribers to our Index Service should let us know which of the 100 weekly figures they want added to their report (or webservice).

Thursday, February 25, 2009

APOR TABLES: We're in the process of importing the "Average Prime Offer Rate" (APOR) figures into our database. As you probably know, there are two tables - Fixed and Adjustable - which are updated weekly. Each table lists fifty terms.

Some subscribers have already indicated that they'll need some, or all, of these figures on their reports. If you anticipate needing them, contact us. (Surcharges will apply to emailed reports.)

Tuesday, February 17, 2009

FUN WITH APOR: Several our clients have requested that we begin collecting the "Average Prime Offer Rate" (APOR) figures which are now being published by the Fed. These numbers - updated weekly - will let them determine whether a particular loan falls into the category of "higher-priced mortgage loans" as per HOEPA.

We'll see about adding these to our index database as soon as possible. However, logistically this presents something of a problem, given that there are 100 new figures which will be updated weekly.

Well, we'll figure it out, and add them to the pertinent reports, as soon as possible -- certainly before the March 16 enforcement date announced by Maryland.

Wednesday, January 28, 2009

Freddie Mac's RNY page hasn't been updated yet. Reports will be a little delayed.

UPDATE: It's late and no RNYs. Reports going out.

UPDATE II: Opening RNYs appeared at about noon Eastern.

ND HITS THE FLOOR: North Dakota's Usury Rates for Non-regulated Lenders fell to 7% last month, and that's where it will stay for a while, since, according to their release, "The calculated rate was less than seven percent; however the statutory minimum is seven percent."

Monday, January 19, 2009

IT'S MLK JR. DAY TODAY: Thus, no RNYs today from Freddie Mac or Fannie Mae. And, the weekly H.15 won't be released until Tuesday.

Friday, January 16, 2009

Freddie Mac's RNY page hasn't been updated yet. Reports will be a little delayed.

UPDATE: It's very late and no RNYs. Reports going out.

UPDATE II: Opening RNYs appeared at about 3 PM Eastern.

Monday, January 12, 2009

FREDDIE'S CONFUSION CLEARED UP: As noted here, Freddie Mac corrected its monthly PMMS average to jibe with its own release. For the record, it's 5.33%.

Friday, January 9, 2009

Freddie Mac's RNY page hasn't been updated yet. Reports will be a little delayed.

UPDATE: It's getting late. Reports going out.

Tuesday, January 6, 2009

A BIT OF CONFUSION here: The Freddie Mac PMMs monthly average for December 2008 appears on their site as 5.29%. However, they reported that figure as 5.33% on the weekly H.15 dated January 5, 2009. We'll see whether next week's H.15 report includes a correction; meanwhile, we will report the FHLMC figure.

Monday, January 5, 2009

Freddie Mac's RNY page on their website still shows last year. Could it be they've discontinued it? In any event, reports will go out on schedule.

UPDATE: Once again, the Cash Desk assures me that they're working on it.

UPDATE II: The page was restored about 4 pm.

Friday, January 2, 2009

FREDDIE MAC IS LATE posting its RNYs, so we will delay sending the reports for a short time.

UPDATE: Freddie's Cash Desk tells me they're 'updating' the system, and that the RNYs won't be on the website for a while. So, our reports are going out without Freddie's first RNYs of the new year,

UPDATE II: Pretty much the same thing happened exactly one year ago.

UPDATE III: Freddie also didn't update its PMMS spreadsheet for the week...

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