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MBS RECAP: Have You Heard The One About Brexit and Bond Market Volatility?
Tue, 22 Oct 2019 21:42:54 GMT

Posted To: MBS CommentaryFirst things first: all of the volatility we're about to discuss has been occurring inside a fairly narrow range in the slightly bigger picture. Moreover, much of that narrow range exists inside an even bigger version of ..[read more]

Mortgage Rates Recover Slightly
Tue, 22 Oct 2019 20:38:00 GMT

Posted To: Mortgage Rate WatchMortgage rates recovered just a bit today after hitting the highest levels in more than a month yesterday. The inspiration for much of the recent upward pressure on rates can be traced to progress in Britain's attempt to..[read more]

Supreme Court Agrees to Hear CFPB Constitutionality Case
Tue, 22 Oct 2019 20:37:03 GMT

Posted To: MND NewsWireThe Supreme Court has agreed to hear a case challenging the constitutionality of the Consumer Financial Protection Bureau (CFPB). The case "Seila Law v CFPB could spell the end of the regulatory agency established by the Dodd F..[read more]

Home Sales Pull Back From 18-Month Highs
Tue, 22 Oct 2019 15:00:19 GMT

Posted To: MND NewsWireSales of existing homes, which had posted advances in both July and August, fell back in September. The National Association of Realtors® (NAR) said sales of single-family houses, townhouses, condominiums, and cooperative a..[read more]

MBS Day Ahead: Another Brexit Vote as Bonds Remain on Edge
Tue, 22 Oct 2019 13:32:35 GMT

Posted To: MBS CommentaryYesterday saw an extension of the recent selling trend in bonds with yields hitting the highest levels in more than a month. One might argue that yesterday was actually a breakout from the consolidation trend we've been t..[read more]

Appraisal, Broker, and Construction Products; Vendor News
Tue, 22 Oct 2019 12:27:56 GMT

Posted To: Pipeline PressI am often asked about a primer for capital markets. Much of the training is “on the job,” but for anyone serious about learning the topic, here’s a good place to start . How about a little learnin’ ab..[read more]

Highest Mortgage Rates in More Than a Month
Mon, 21 Oct 2019 23:28:00 GMT

Posted To: Mortgage Rate WatchMortgage rates may have managed to remain mostly flat last week, but they did so near their highest levels in several weeks. After moving up at a moderate pace today, they're now at the highest levels in just over a mont..[read more]

Elderly Housing Needs Must be Addressed as Homeowners Retire Later
Mon, 21 Oct 2019 15:53:56 GMT

Posted To: MND NewsWireIn an early article, we summarized the first part of a new report on America's aging population, especially as related to homeownership, published by the Harvard Joint Center on Housing Studies. The second part of the report de..[read more]

MBS Week Ahead: Bonds On The Run As Brexit Hopes Remain
Mon, 21 Oct 2019 13:09:50 GMT

Posted To: MBS CommentaryLast week saw the US bond market fight off an intermittent barrage of weakness as global markets geared up for the weekend's big Brexit vote. By Friday, 10yr yields were only 2bps higher on the week. This left them just i..[read more]

Non-QM, Affordable Housing, Income Products; Vendor News; What is Driving Rates?
Mon, 21 Oct 2019 12:19:12 GMT

Posted To: Pipeline PressGreat MLOs keep up on events not only impacting their loans but on events impacting the everyone else’s loans as well. For example, the Supreme Court has agreed to rule on the constitutionality of the CFPB’s struc..[read more]

MBS RECAP: Quiet Trading Week Leaves Focus on Brexit Weekend
Fri, 18 Oct 2019 22:04:35 GMT

Posted To: MBS CommentaryToday was a throw-away day for the bond market. Yields matched their narrowest trading range of the week and ended the day at their most 'unchanged' levels of the week (i.e. closest to the previous day's close). I..[read more]

Here's Why Rates Were Flat This Week (And Why That Should Change)
Fri, 18 Oct 2019 22:03:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were flat today. In fact, they were very close to being flat on the week for that matter! This is a reflection of the bond markets current set of concerns, which really came into focus late last week with ..[read more]

FHA Tops the List for Non-Conventional Purchases
Fri, 18 Oct 2019 17:46:10 GMT

Posted To: MND NewsWireMore than a quarter of new home purchases in 2018 were financed through non-conventional sources. Data from the Census Bureau's Survey of Construction shows that, while the new home market was dominated by loans from Fannie and..[read more]

After Two Years, Residential Fixed Investment Returns to Positive Territory
Fri, 18 Oct 2019 15:11:31 GMT

Posted To: MND NewsWireEven though the pace of home building remains below where the industry would like it to be, Fannie Mae says it helped drive residential fixed investment into the black in the third quarter. The company's Economic and Strategic ..[read more]

MBS Day Ahead: Strange Combination of Pre-Brexit Paralysis and Jumpiness
Fri, 18 Oct 2019 13:03:07 GMT

Posted To: MBS CommentaryYesterday brought the highest yields in a month as Brexit-related optimism swelled early in the overnight session. At issue: British PM Johnson and EU negotiators reached "a deal." Great! Right? Brexit is solved? But wait... ..[read more]

MBA Predicts Economic and Rate Uncertainty Depressed New Home Sales
Fri, 18 Oct 2019 12:22:25 GMT

Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) says it expects that new home sales declined in September relative to August based on a drop in mortgage applications to finance their purchase. MBA says its Builder Application Survey sho..[read more]

Broker, Fraud, Credit, and Hedging Products; Lenders Adjust to FHA Changes
Fri, 18 Oct 2019 12:15:02 GMT

Posted To: Pipeline PressHere’s a little trivia for you. What does San Francisco have six of that Manhattan has none of? Dirt roads ! I don’t know if the cost of maintaining a dirt road is more than that of maintaining a paved road, but I..[read more]

MBS RECAP: Even if Bonds Weren't Ignoring Data, They'd Still Be Confused
Thu, 17 Oct 2019 20:24:09 GMT

Posted To: MBS CommentaryThe bond market has a lot on its mind right now. 2019 is proving to be very different from other episodes of big, protracted rate trends. In most past instances, we can point to 1 key theme driving the momentum, with a few oc..[read more]

Mortgage Rates Face Volatility Thanks to an Old Friend
Thu, 17 Oct 2019 19:40:00 GMT

Posted To: Mortgage Rate WatchMortgage rates didn't do much today, but risks are increasing that movement will be more brisk in the coming business days. Blame European politics--specifically: Brexit. This isn't the mortgage rates' world first go-rou..[read more]

Single Family Construction Improves, Multi-Family Not So Much
Thu, 17 Oct 2019 14:20:16 GMT

Posted To: MND NewsWireAfter posting some of the best results in a year the previous month, all three construction indicators fell back in September . The U.S. Census Bureau and the Department of Housing and Urban Development said housing starts and ..[read more]

MBS Day Ahead: Lots of Data, But All Eyes on Brexit
Thu, 17 Oct 2019 13:34:30 GMT

Posted To: MBS CommentaryYesterday saw a swath of Brexit headlines spark unavoidable bond market weakness just as a weaker reading in the important Retail Sales report suggested a rally. Offsetting penalties, back to the line of scrimmage! Bonds ulti..[read more]

Correspondent, Home Equity Products; Warehouse Facility For Sale; HUD and Flood Programs
Thu, 17 Oct 2019 12:57:40 GMT

Posted To: Pipeline Press52% of Agency biz (e.g., Freddie and Fannie) is first-time home buyers. Over at HUD, according to the Mortgage Bankers Association (MBA), first-time home buyers account for more than 75 percent of FHA home purchases. FHA & VA..[read more]

Nearly Half of October Originations Were Refinances
Thu, 17 Oct 2019 12:03:56 GMT

Posted To: MND NewsWireThe 30-year note rate on closed mortgages fell to 3.93 percent in September, down from 4.07 percent in August, and along with the decline, the ninth in as many months, the share of refinances crept close to half of all the mont..[read more]

MBS RECAP: Why Didn't Bonds Seem to Care About Retail Sales?
Wed, 16 Oct 2019 22:31:09 GMT

Posted To: MBS CommentaryThere was a bit of a giveaway in this morning's commentary, titled " Brexit Headlines vs Retail Sales ." Indeed, it's "Brexit headlines" that answer the question in the most recent headline. In other words, bond marke..[read more]

Mortgage Rates Little-Changed Near Recent Highs
Wed, 16 Oct 2019 22:01:00 GMT

Posted To: Mortgage Rate WatchMortgage rates improved modestly today, depending on the lender. Some lenders moved rates higher yesterday due to deterioration in the bond market. Others simply planned to adjust for market conditions this morning. If w..[read more]

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