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Real Estate News |
Worst Week for Mortgage Rates since August 2013
Fri, 07 Mar 2014 21:41:00 GMT
Posted To: Mortgage Rate WatchMortgage rates rose sharply for the third time this week, bringing them to levels not seen since January 15th. Today's move followed a stronger-than-expected Employment Situation report. This is the most significant econ..[read more]
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MBS RECAP: Only Two Interesting Minutes of the Day
Fri, 07 Mar 2014 21:26:15 GMT
Posted To: MBS Commentary8:30-8:32... These were the only two minutes of the day where anything interesting was happening for bond markets. It wasn't the good kind of 'interesting' either as stronger employment data sparked big, fast sell..[read more]
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MBS MID-DAY: Bond Markets Hit Hard by Stronger Jobs; Holding Ground Now
Fri, 07 Mar 2014 17:49:19 GMT
Posted To: MBS CommentaryNot only was this morning's employment data stronger than expected, but it would probably have been even stronger if not for the weather effect. As preposterous as this sounds to those hoping for lower rates and fed up wi..[read more]
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SunTrust in the Hot Seat; Bank M&A Continues; Green Tree Now Ditech
Fri, 07 Mar 2014 15:46:52 GMT
Posted To: Pipeline PressDave T. writes, "Rob, I have noticed that the originators attending classes or local association meetings are older, and mostly men over 50 years old and have been in the business in excess of 20 years. Generally, there are j..[read more]
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Breaking Down Weather Implications in Stronger Employment Report
Fri, 07 Mar 2014 15:07:00 GMT
Posted To: MND NewsWireThis morning's Employment Situation Report was stronger than expected. By historical standards, the "beat" isn't especially large (175k vs 149k forecast), but most market participants (at least those expressing opinions) are su..[read more]
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MBS Day Ahead: Today's Jobs Report Not Likely to Mark a Turning Point
Fri, 07 Mar 2014 12:45:02 GMT
Posted To: MBS CommentaryThe boring scenario for today would be for the all-important Employment Situation Report to show payroll creation lagging recent averages, coming in at or below consensus of 149k (or 154k for Private Payrolls). In that situat..[read more]
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Mortgage Rates Sharply Higher; More Volatility Ahead
Thu, 06 Mar 2014 21:39:00 GMT
Posted To: Mortgage Rate WatchMortgage rates moved quickly higher today , in the context of their recent range. That is to say, today's "sharp" movement is nothing compared to those seen in mid 2013, but it did leave rates as high as they've been in ..[read more]
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MBS RECAP: Uneventful Afternoon After Morning Volatility
Thu, 06 Mar 2014 21:32:13 GMT
Posted To: MBS CommentaryBond markets were slightly weaker overnight as Geopolitical risk surround Ukraine continued to unwind. There wasn't much by way of new developments there, and level of movement (i.e. "not much") suggest the same. Domestic..[read more]
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NAHB Leading Markets Data Bodes Well for 2014
Thu, 06 Mar 2014 18:54:10 GMT
Posted To: MND NewsWireMetropolitan areas considered leading markets on the National Association of Home Builders (NAHB)/First American index of that name increased to 59 this month, a net gain of one from the previous month. The 59 areas have return..[read more]
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Home Equity Growth Stalled in Fourth Quarter
Thu, 06 Mar 2014 17:27:40 GMT
Posted To: MND NewsWireAn additional 4 million homes regained positive equity in 2013 CoreLogic said today, leaving 6.5 million homes still underwater; about half the number that were in that position at the end of 2009. Homes still in a negative equ..[read more]
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MBS MID-DAY: Bond Markets Fighting Back Against Morning Weakness
Thu, 06 Mar 2014 16:57:31 GMT
Posted To: MBS CommentaryMBS are now at the best levels since before this morning's economic data. Before that, Treasuries were slightly weaker overnight, resulting in opening levels 2-3 ticks in the red for Fannie 4.0 MBS. Jobless Claims were lo..[read more]
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What Brokers Need to Know About Mini-Corr; Nationstar Probed; Industry Trends Survey
Thu, 06 Mar 2014 16:33:31 GMT
Posted To: Pipeline PressAccording to Gallup's 2013 annual Economy and Personal Finance survey, the average retirement age has crept up by four years over the past two decades, "from 57 in 1991 to the current 61. Because most of the uptick came befor..[read more]
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Freddie Mac Weekly Rate Report Lagging Reality; Rates are Actually Higher Today
Thu, 06 Mar 2014 16:01:22 GMT
Posted To: MND NewsWireThe venerable Freddie Mac Primary Mortgage Market Survey (PMMS™) is a cornerstone of mortgage rate data. It is both longstanding and highly accurate in capturing week-over-week movement. The only problem is that it is una..[read more]
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MBS Day Ahead: What Are We Waiting For?
Thu, 06 Mar 2014 13:00:02 GMT
Posted To: MBS CommentaryA quick recap of the year so far... January kicked off with bond markets holding their ground at the weakest levels in more than two years. The first jobs report of the year provided a big boost. Perhaps we were due a technic..[read more]
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Stonegate Expansion; Trends in the LO Job Description; Studies Point to Mixed Picture for Building & Lending
Wed, 05 Mar 2014 22:04:02 GMT
Posted To: Pipeline PressWhen I was on a pipeline hedging trading desk, we were often expected to have a crystal ball about where the market was going . None of us had one, although we did have coins to flip about where rates were going to be the nex..[read more]
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Mortgage Rates Hold Stead After Weaker Economic Data
Wed, 05 Mar 2014 21:07:00 GMT
Posted To: Mortgage Rate WatchMortgage rates held steady today, on average, though some lenders are still in slightly worse shape. Weakness in the markets that affect mortgage rates carried over from yesterday and was poised to push rates even higher..[read more]
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MBS RECAP: Calm Afternoon for Bond Markets, Holding Post-Data Gains
Wed, 05 Mar 2014 20:55:16 GMT
Posted To: MBS CommentaryThe overnight session ushered trading levels into just slightly weaker territory in the first part of the domestic session. In other words, this morning's lower prices were a linear extension of yesterday's trend, but..[read more]
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Institutional Investors' Effect on Home Price Appreciation
Wed, 05 Mar 2014 17:12:52 GMT
Posted To: MND NewsWireEven though they stated in a news release two weeks ago that institutional investment was waning, RealtyTrac has released a report on its impact on the housing market. Institutional investors are defined as those who have purch..[read more]
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MBS MID-DAY: Bond Markets Reluctantly Stronger After Morning Data
Wed, 05 Mar 2014 16:48:04 GMT
Posted To: MBS CommentaryMBS and Treasuries are both in slightly positive territory, and that's saying something considering the apparent challenge involved in getting here. Treasuries were weaker overnight, resulting in a weaker open for MBS as ..[read more]
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Full Work Week and Rate Rally Boost Mortgage Apps
Wed, 05 Mar 2014 13:45:00 GMT
Posted To: MND NewsWireThe volume of mortgage applications increased during the week ended February 28 for the first time since late January. This good news was muted slightly by the fact that the previous week had been a holiday for many with govern..[read more]
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MBS Day Ahead: Geopolitical Risk Takes a Breather; Econ Data's Turn
Wed, 05 Mar 2014 12:45:01 GMT
Posted To: MBS Commentary"As with any geopolitical situation affecting markets, we'll only know the corner has been turned in hindsight. Until then, it's a wild card that's thus far been working in favor of bond markets, but we should rem..[read more]
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Mortgage Rates Sharply Higher, Erasing Last Week's Improvement
Tue, 04 Mar 2014 21:49:00 GMT
Posted To: Mortgage Rate WatchMortgage rates were sharply higher today, as concern over geopolitical tension in Ukraine turned a corner. After a surprisingly strong end to February and strong start to March, mortgage rates suddenly found themselves m..[read more]
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MBS RECAP: Worst day of Losses Since November 8th
Tue, 04 Mar 2014 21:40:17 GMT
Posted To: MBS CommentaryNothing new happened all day long. Unfortunately, the order of the day was a steady selling spree in MBS and Treasuries--easily the worst we've seen since November 8th. The severity was amplified by the fact that bond mar..[read more]
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FHA Fund Doesn't Need Treasury Draw After All; Groups Call For Fee Reduction
Tue, 04 Mar 2014 21:14:34 GMT
Posted To: MND NewsWireThe Federal Housing Administration (FHA) Mutual Mortgage Insurance Fund will have a positive capital reserve balance at the end of Fiscal 2014 estimated at $7.8 billion and will not require a draw from the U.S. Treasury. This n..[read more]
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MBS MID-DAY: Markets Bounce on Ukraine Risk Reversal
Tue, 04 Mar 2014 17:41:30 GMT
Posted To: MBS CommentaryUkraine-related headlines sent moderate shockwaves through markets overnight, pushing Treasury yields higher by the open. Since then, the negative momentum has continued in the absence substantive economic data. In short, Ukr..[read more]
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