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2 Paradoxes For Mortgage Rates
Thu, 21 Jun 2018 21:35:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were microscopically higher today, which is paradoxical on two levels. The first paradox has to do with today's bond market improvements. Bonds underlie rates and bond market improvements coincide with rat..[read more]

MBS RECAP: Big Miss in Philly Fed Index Pushes Yields Lower
Thu, 21 Jun 2018 21:31:07 GMT

Posted To: MBS CommentaryGrandparents will always have at least a few stories about "the way things used to be." Those old ways may seem inefficient, strange, wonderful , or all of the above to the younger generation. For market watchers, the generat..[read more]

Inventory Woes: Are They Worse Than They Look?
Thu, 21 Jun 2018 14:26:14 GMT

Posted To: MND NewsWireThere has been a lot of hand-wringing for going on two years or so about the incredible shrinking inventory of homes for sale . This week CoreLogic analyst Molly Boesel joins the chorus with another analysis of the problem. Boe..[read more]

MBS Day Ahead: Is Today's Data One of The Early Clues We're Looking For?
Thu, 21 Jun 2018 13:50:15 GMT

Posted To: MBS CommentaryBy now, it's no great secret that pundits, analysts, and financial firm principals are pontificating on the next economic downturn. Guesses vary, but 95% of them are within the next 2 years. Perhaps as many as half of the..[read more]

FHFA: Home Price Index Continues to Rise
Thu, 21 Jun 2018 13:46:09 GMT

Posted To: MND NewsWireThere was another 0.1 percent increase in the Federal Housing Finance Agency's (FHFA's) House Price Index (HPI) in April. The index, which is calculated using home sales prices from mortgages sold to or guaranteed by the govern..[read more]

LO Resources; Doc and 1003 Products; Lender Credit Guideline Shifts
Thu, 21 Jun 2018 13:07:27 GMT

Posted To: Pipeline PressHuh? Rumors again that FHLB Atlanta is exiting the HFLB Xtra mortgage program effective at the end of this year? Who can keep track of all the rumored, and actual, changes in the biz? (Keeping with the Atlanta theme… n..[read more]

Ellie Mae: Purchase Loan Share at Post-Recession Highs
Thu, 21 Jun 2018 12:04:04 GMT

Posted To: MND NewsWireLoans for home purchasing continue to dominate mortgage originations and Ellie Mae says they may now represent the largest share of loans since the recession. The company's May Origination Insight Report put the purchasing shar..[read more]

MBS RECAP: Bonds Pulled Back Toward Top of Fence
Wed, 20 Jun 2018 23:04:15 GMT

Posted To: MBS CommentaryBefore the Italy drama picked up at the end of May, bonds were very much on the bad side of the fence. Italy quickly punted rates to the other side of the proverbial fence , but the good times didn't last long. As we move..[read more]

Mortgage Rates Edge Slightly Higher
Wed, 20 Jun 2018 20:48:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved modestly higher today after holding in roughly the same territory for the past 3 days. This brings them back in line with last Thursday's levels. In general, trade tensions helped the bond market ear..[read more]

Existing Home Sales Below Expectations for Second Month
Wed, 20 Jun 2018 14:55:42 GMT

Posted To: MND NewsWireAnalysts were expecting existing home sales to rebound in May after they fell behind year-ago levels in April. However, the National Association of Realtors® (NAR) reported a second straight monthly loss , with the Northeas..[read more]

MBS Day Ahead: Checking in With "Longer-Term Trend"
Wed, 20 Jun 2018 14:06:14 GMT

Posted To: MBS CommentaryI talk quite a bit about the " long-term trend " or the "longer-term trend" these days. It most frequently comes up in some iteration of the following: "until the long-term trend has been clearly defeated," etc. But what exac..[read more]

Credit Scoring and HR Products; Freddie and Fannie - Never Standing Still
Wed, 20 Jun 2018 12:59:56 GMT

Posted To: Pipeline Pressonight/tomorrow morning is the summer solstice. I am in Minneapolis at an ACUMA workshop and where the sun will set tonight at 9:03. (I suppose ACUMA could have held its event in Anchorage, where the sun sets at 11:42 tonight..[read more]

Mortgage Application Volume Second Highest of Year
Wed, 20 Jun 2018 12:16:58 GMT

Posted To: MND NewsWireMortgage interest rates waffled, moving in different directions depending on the product last week, but the volume of mortgage applications increased rather decisively . The Mortgage Bankers Association (MBA) said its Market Co..[read more]

MBS RECAP: Lowest Yields of The Month
Tue, 19 Jun 2018 20:15:58 GMT

Posted To: MBS CommentaryJune began with yields plateauing after rising from the Italy-inspired lows of late May. 10yr yields managed to avoid breaking above 3% until last week's much-anticipated Fed Day. Even then, the Fed and the ECB ultimately..[read more]

Mortgage Rates Barely Budge Despite Market Gains
Tue, 19 Jun 2018 19:19:00 GMT

Posted To: Mortgage Rate WatchMortgage rates didn't move much today, despite a somewhat decent improvement in bond markets. Overnight, trade war brinksmanship between the US and China had investors seeking the safe haven of bond markets. Excess deman..[read more]

A New CFPB Director? Perhaps That's Not the Intention
Tue, 19 Jun 2018 15:27:38 GMT

Posted To: MND NewsWireThe White House announced on Monday the nomination of Kathy Kraninger as head of the Consumer Financial Protection Bureau (CFPB) to replace acting director Mick Mulvaney. The appointment caught many in Washington by surprise as..[read more]

Housing Starts Rebounded in May, Permits Still Lag
Tue, 19 Jun 2018 13:59:03 GMT

Posted To: MND NewsWireResidential construction data was mixed for May as reported on Tuesday by the U.S. Census Bureau and the Department of Housing and Urban Development. Housing starts recovered strongly from their April loss while permits continu..[read more]

LO Training and Events; Trade Turmoil's Effect on Rates
Tue, 19 Jun 2018 12:59:41 GMT

Posted To: Pipeline PressWhen I grow up I want to live in a ranch style… shipping container? If you have a builder complaining about lumber costs or labor to frame a house, there’s always metal. “From rooftop decks to custom wood f..[read more]

MBS Day Ahead: Bonds Begin With a Bang
Tue, 19 Jun 2018 12:57:01 GMT

Posted To: MBS CommentaryYou're welcome! I knew if I lamented the slow and boring nature of the week ahead yesterday that I could trick the bond market into doing something exciting. Sure, it was a 50/50 chance that my little ploy could backfire,..[read more]

Fannie Mae June Outlook Turns a Little Cautious
Tue, 19 Jun 2018 12:35:12 GMT

Posted To: MND NewsWireDespite a slowing rate of economic growth in the second estimate for the first quarter, Fannie Mae's economists are holding firm in their forecast for the remainder of the year. The second preliminary estimate for the quarter w..[read more]

MBS RECAP: Another One of Those Unofficial 3-Day Weekend Days
Mon, 18 Jun 2018 20:30:12 GMT

Posted To: MBS CommentaryThese sorts of days (where nothing happens) happen. If you had to bet on a day of the week and a time of year to see them, Summertime Mondays would probably be the safest bet. Overnight volume was almost nonexistent, with muc..[read more]

Mortgage Rates Little-Changed to Begin Quiet Week
Mon, 18 Jun 2018 19:58:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were sideways to slightly higher today, depending on the lender. The underlying bond market (which dictates rates) was exceptionally quiet. On the heels of last week's important events and without much on ..[read more]

Builder Confidence: Tariffs on Lumber Hurting Affordability
Mon, 18 Jun 2018 14:22:00 GMT

Posted To: MND NewsWireBuilder confidence in the market for new single-family homes ended a three-month slide in May , as the Housing Market Index ticked up two points. This month that two-point gain evaporated as the index slid back down to 68. The ..[read more]

MBS Week Ahead: Bonds Try to Confirm Last Week's Victory
Mon, 18 Jun 2018 13:16:59 GMT

Posted To: MBS CommentaryPost-Italian drama, bond yields rose for 2 straight weeks heading into last week's Fed and ECB announcements. They both proved friendly and the positive momentum continued on Friday. The timing of the Italian drama was im..[read more]

Compliance and Construction Products; Legal Changes for Lenders on the East Coast
Mon, 18 Jun 2018 12:51:52 GMT

Posted To: Pipeline PressRumors continue to swirl. Will a top-10 bank really terminate hundreds, possibly a thousand, of its retail originators in late July/early August for not meeting minimum production standards? Is Houlihan Lokey out there market..[read more]

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