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MBS RECAP: "Totally Expected" Budget Bill Shocks Markets
Fri, 20 Oct 2017 22:53:22 GMT

Posted To: MBS CommentaryThere's a good video in the news stream with Austan Goolsbee going on a bit of rant about how the Senate's procedural vote on a budget resolution late last night was totally expected. Someone should have told financia..[read more]

Mortgage Rates Rocked (Relatively) By Tax Plan Optimism
Fri, 20 Oct 2017 22:26:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved higher today as financial markets grew more optimistic about the potential for tax reform. Late last night, the Senate passed a resolution that included language designed to make tax reform legislati..[read more]

Consumers: On-Line Mortgage Info Convenient, not Trustworthy
Fri, 20 Oct 2017 16:49:43 GMT

Posted To: MND NewsWireWhile it sometimes seems as though Americans live online, there is still apparently one area where they still value human contact. A recent survey conducted by Fannie Mae found borrowers continue to put a lot of trust in their ..[read more]

Existing Sales Beat Forecast Despite Taking a Hit From Hurricanes
Fri, 20 Oct 2017 14:53:46 GMT

Posted To: MND NewsWireIt was only a small gain , albeit larger than analysts expected, but after three straight months of sliding sales, the existing home sales report for September is still good news. The National Association of Realtors® (NAR)..[read more]

Refinancing Share at Early 2017 Levels
Fri, 20 Oct 2017 13:39:46 GMT

Posted To: MND NewsWireRefinancing increased its share of total originations in September, rising 3 percentage points from August to 38 percent of all closed loans. Ellie Mae, in its Originations Insight report says the refinance share was the highes..[read more]

New Wholesaler, Lender/Vendor Tools; Capital Markets Product
Fri, 20 Oct 2017 13:38:46 GMT

Posted To: Pipeline PressNot only are houses becoming smaller, but the lots are smaller also. Trulia tells us that houses built since 2015 occupy, on average, 25 percent of the land they were built on. That figure was only 13.9 percent in 1975. And a..[read more]

MBS Day Ahead: Bonds Back on The Ropes
Fri, 20 Oct 2017 13:38:02 GMT

Posted To: MBS CommentaryIt's a crappy day. Sorry to use such an esoteric analytical term, but it's the most accurate way to describe the outlook. So what changed? Long story short, we'd been in a narrow, consolidative range since late Se..[read more]

MBS RECAP: Catalonia (or China!) Helped Early; Powell Saved The Day
Thu, 19 Oct 2017 21:11:42 GMT

Posted To: MBS CommentaryIt was a pretty interesting session for how narrow the range continues to be in bond markets--interesting both for bonds themselves and for the analysts scrambling to make sense of the movement. Apart from last Friday's C..[read more]

Mortgage Rates Hold Ground Amid Market Volatility
Thu, 19 Oct 2017 20:10:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were unchanged to slightly lower today. Political drama in Europe pushed stocks lower overnight and sent investors toward safer haven assets like bonds. Higher demand for bonds pushes rates lower, all thin..[read more]

Remodelers Report Backlogs, Labor Shortages as Market Grows
Thu, 19 Oct 2017 18:59:28 GMT

Posted To: MND NewsWireHome remodeling activity reported by builders increased in the third quarter and remains above the benchmark 50 level for the 18 th consecutive quarter. The National Association of Home Builders' (NAHB) Remodeling Market Index ..[read more]

Freddie Changes Student Loan Debt Calculation
Thu, 19 Oct 2017 13:42:46 GMT

Posted To: MND NewsWireA new Bulletin from Freddie Mac makes several changes to its Seller Guide . The most impactful changes relate to the way sellers can calculate student loan debt for inclusion in the monthly payment debt-to-income ratio. Under t..[read more]

New Vendor Creations; Jumbo and No MI Products
Thu, 19 Oct 2017 13:26:51 GMT

Posted To: Pipeline PressYesterday I had some interesting geographic involving the United States that prompted Tony H. to send a few more items. The closest state to Africa? It’s Maine! (Quoddy Head. The largest U.S. city closest to Africa is B..[read more]

MBS Day Ahead: 2 Simple Lines Means Bonds Stay In The Game
Thu, 19 Oct 2017 12:34:18 GMT

Posted To: MBS CommentaryThe past 3 days were disconcerting for bond markets--especially yesterday, which saw yields move higher at their quickest pace in two weeks. This threatened to reverse the positive trend that looked like it was confirmed by l..[read more]

MBS RECAP: Stronger Selling and Lighter Volume Raise Doubts
Wed, 18 Oct 2017 20:58:22 GMT

Posted To: MBS CommentaryEverything seemed so simple last Friday when bonds were surging past technical barriers in strong volume--ostensibly ringing the dinner bell for more bond buying. The fact that everything seemed so simple was also the biggest..[read more]

Mortgage Rates Rise Only Modestly Despite Market Weakness
Wed, 18 Oct 2017 20:13:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved modestly higher today despite bigger movement in underlying bond markets. In part, this is a byproduct of the way rates behaved at the end of last week, when lenders didn't adjust rates lower as quic..[read more]

Housing Starts Still Under The Weather; Single-Family Permits on The Mend
Wed, 18 Oct 2017 13:58:53 GMT

Posted To: MND NewsWireThe U.S. Census Bureau is mum on causation, but results from the southern region would indicate that the August and September hurricanes probably drove declines in both housing permits (except those for single-family residences..[read more]

Hurricanes Impact on Housing Could Last
Wed, 18 Oct 2017 13:51:13 GMT

Posted To: MND NewsWireFannie Mae has lowered its third quarter projections for GDP growth by 0.2 percent to an annualized 2.4 percent based on its assessment of the overall impacts of the recent hurricanes. The company's Economic and Strategic Resea..[read more]

MBS Day Ahead: Time For That Mid-October Craziness in Bonds
Wed, 18 Oct 2017 13:43:19 GMT

Posted To: MBS CommentaryAh mid-October... All too often in the 2009-2014 time frame, we'd seen abrupt reversals of trends at this time of month. We haven't really been on the lookout for that old behavior because 2014 seemed to mark a shift ..[read more]

Mortgage Applications Regain Footing
Wed, 18 Oct 2017 13:12:50 GMT

Posted To: MND NewsWireThe volume of mortgage applications increased last week for the first time since early September. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, rose 3.6 percent on a seasonall..[read more]

MBS RECAP: Bonds Scramble Back to Unchanged, Leaving Outlook Cloudy
Tue, 17 Oct 2017 20:52:07 GMT

Posted To: MBS CommentaryTreasuries and MBS have spent the past 2 days trading well inside the range set by last Friday's volatility (big rally following CPI data). Unfortunately, the central tendency during those 2 days has been toward moderatel..[read more]

Mortgage Rates Rise a Bit More From Recent Lows
Tue, 17 Oct 2017 19:51:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were at their best levels in roughly a month last Friday afternoon. Since then, they've risen modestly on each of the past two business days. As has been the case for quite some time, day-to-day movement c..[read more]

Builders' Confidence Returns as Hurricane Worries Wane
Tue, 17 Oct 2017 14:35:38 GMT

Posted To: MND NewsWireAfter reacting strongly to Hurricanes Harvey and Irma with a four-point drop in September, the Housing Market Index (HMI) regained its footing in October. The National Association of Home Builders (NAHB) says the HMI, which mea..[read more]

Construction Numbers Look Much Better Broken Down by State
Tue, 17 Oct 2017 14:26:19 GMT

Posted To: MND NewsWireIt has been a rather dismal spring and summer for construction, one in which permitting has declined in three out of the last four months. Going more granular, however, a report from the National Association of Home Builders (N..[read more]

Wire Fraud, MBI and LEP Products; HMDA Stats; The Fed's Leadership
Tue, 17 Oct 2017 13:22:56 GMT

Posted To: Pipeline PressDoes the Fed Chairman make a difference? Yes. Taylor and Powell’s names continue to be mentioned, although Trump is set to interview Janet Yellen Thursday. It wouldn’t surprise anyone if Janet Yellen was being giv..[read more]

MBS Day Ahead: Quickly Becoming a Battle to Remain in a Friendly Trend
Tue, 17 Oct 2017 13:18:14 GMT

Posted To: MBS CommentaryAs we discussed last week, the positive technical signals don't get much clearer than they did after Friday's CPI data (weak inflation helped bonds break a floor that had been stubbornly holding for several weeks. At ..[read more]

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