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ARM Index Bulletin

See the latest ARM indexes here

Occasional news & changes about adjustable rate mortgage indexes and other financial indicators

For the latest ARM index news, click here.

Tuesday, December 29, 2009

I've been informed that we are having what are euphemistically known as Technical Difficulties with our webservice. Our apologies -- we have top men working on it. Top. Men.

Monday, December 28, 2009

Welcome back to work! No daily Libors today as the UK belatedly celebrates Boxing Day. Our reports will instead show the 12/24 values.

Thursday, December 24, 2009

HSH's offices are closed, but the index reports go out!

Tuesday, December 22, 2009

Still no sign of the weekly H.15 yet. Hoping for a callback from the FRB.

UPDATE: Just heard from the Fed -- it escaped my notice that Washington DC was closed yesterday due to the blizzard-like snow they got hit with there. It'll be released this afternoon.

Monday, December 21, 2009

The weekly H.15 is late today. Don't know why.

Also: The Fed would like it to be known that "Owing to the closure of the Federal Reserve Board on the afternoon of Thursday, December 24, and on Friday, December 25, 2009, the H.15 daily updates will not be published on Thursday, December 24, 2009, or Friday, December 25, 2009."

Wednesday, December 9, 2009

The 'opening' timestamp on Freddie Mac's RNY page is 09:02:23 EST. We'll delay the reports a little while in the hope that the page will be updated soon.

UPDATE: New RNYs out at 10:01:54 EST, and the earlier ones are now the 9:00 open. Reports going out!

Wednesday, November 25, 200

Happy Thanksgiving! HSH's offices will be closed on Thursday Nov. 26 and on Friday Nov. 27 -- but indices will be updated and reports will go out, as usual.

Wednesday, November 11, 2009

It's Veterans Day, a Federal holiday, so that even though HSH is open, Fannie and Freddie are not.

Monday, November 9, 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: First RNYs out at 9:49 AM ET, later released as 9:00 open. Reports going out!

Thursday, November 5, 2009

From Monday through Wednesday, Freddie Mac's RNY page displayed yields for its 20-year FRM in the 9% range. Today, they're back to their typical mid-4% range on Friday. As we asked then, What's up with that?

Monday, November 2, 2009

Freddie Mac's RNY page is showing yields in the 9% range for its 20-year FRM for the 8:30 AM (opening) and 9:00 AM quotes. They were in the mid-4% range on Friday. What's up with that?

Monday, October 26, 2009

First update to Freddie Mac's RNY page shows pricing as of 09:00 EDT instead of the usual 08:30.

Still waiting for Pennsylvania to update the usury rates posting -- they haven't listed November yet. (Though it's obvious it will remain unchanged at 6.50%.

Friday, October 23, 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: First RNYs posted at 10:21:59 EDT - reports going out.

Monday, October 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: First RNYs posted at 09:58:37 EDT - reports away!

Monday, October 12, 2009

IT'S COLUMBUS DAY -- a US holiday. Thus, no Freddie Mac or Fannie Mae RNYs today. It's not a holiday for HSH, however, so reports will go out as usual.

Friday, September 25, 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 nearly 11:30 and still no updates. Reports are going out.

UPDATE 2: Figures - first RNYs posted at 11:38 AM.

Tuesday, September 22, 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: First RNYs are as of 10:01 EDT. Reports have gone out.

September 1, 2009

Came across a correction on the FHLB/San Francisco website regarding the Semiannual Cost of Funds Index:

In July 2009, the Bank discovered that it had made an error in calculating the semiannual cost of funds indices for the period July-December 2008 by including in the calculation the July 2008 interest expenses reported by a COFI Reporting Member that had transferred substantially all of its liabilities to a nonmember during the month of July 2008. As a result of this calculation error, the published 11th District semiannual index was 3 basis points higher and the published California semiannual index was 17 basis points higher than they would have been had the reported interest expenses been excluded. The Bank has confirmed that this interest expense was correctly excluded for the monthly COFI index for July 2008.

So - no worries about the monthly 11th District COF. This only affected the Semiannual COF.

Monday, August 31, 2009

No daily Libors (USD) today; the British are enjoying their Summer Bank Holiday.

Monday, July 20, 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: First RNYs are as of 10:30:22 EDT. Reports going out.

Friday, July 3, 2009

HSH is closed today, but Freddie Mac isn't, so we're collecting their RNYs. Looks like Fannie Mae is closed, although other parts of the Federal gov are open. Reports will go out shortly.

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 with the July usury rate.

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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