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MBS RECAP: Markets Finally Doing Interesting Things, But...
Fri, 24 Jan 2020 23:06:47 GMT

Posted To: MBS CommentaryWe had to wait all the way until January 24th of 2020, but bonds finally offered their first real shred of willingness to challenge the established range of late 2019. When we talk about ranges, we use 10yr Treasuries for the..[read more]

Mortgage Rates Drop to 4.5-Month Lows on Virus Fears
Fri, 24 Jan 2020 22:25:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved meaningfully lower over the past 2 days as panic over the coronavirus outbreak continues affecting financial markets. If this epidemic ends up being similar to SARS in 2003, it ultimately won't be wo..[read more]

MBS Day Ahead: The Obvious Bounce Could Be Too Obvious
Fri, 24 Jan 2020 15:49:56 GMT

Posted To: MBS CommentaryAs the week comes to a close, we find bonds continuing to trickle toward the lower end of the range that has prevailed for nearly 3 months. In terms of 10yr yields, the upper boundary is clearly established at 1.95%. The lowe..[read more]

Changes to FICO are on the Way
Fri, 24 Jan 2020 14:44:12 GMT

Posted To: MND NewsWirePaying bills on time is about to become more important for American consumers, and this as their debt levels are reaching new highs. Fair Isaac Corporation, the company which creates the FICO credit score models, will introduce..[read more]

Client Engagement, Sales, API Products; Coronavirus Scare; ECB's Low Rates
Fri, 24 Jan 2020 13:37:53 GMT

Posted To: Pipeline PressYes, the change in FICO scores garnered some attention, but much of the focus is on Wells Fargo which just can’t stay out of the spotlight… for all the wrong reasons. Ten days ago we learned that the Bank had $2...[read more]

Here's How The Average Loan Looked in December
Thu, 23 Jan 2020 18:14:00 GMT

Posted To: MND NewsWireThe average interest rate on closed loans inched up in December and the share of those loans that were for refinancing moved lower. Ellie Mae's Origination Insight Report for the month says the average 30-year fixed rate in Dec..[read more]

Foreclosures at 14-Year Low; Loan "Mortality" up 126% Annually
Thu, 23 Jan 2020 15:25:03 GMT

Posted To: MND NewsWireEven though many of the measures are already at record lows, mortgage delinquencies continue to tick downward according to Black Knight's "first look" at December loan performance data. At the same time, the Single Month Mortal..[read more]

Non-QM, Loan Trading Products; Comp Survey; Moderate Expansion Continues
Thu, 23 Jan 2020 15:20:20 GMT

Posted To: Pipeline PressDid you know that you can vote by smart phone in Seattle ? Did you know that less than 20 percent of the world's population has ever taken a single flight ? (U.S. citizens? About 50%.) Did you know that many economists have f..[read more]

MBS Day Ahead: Bonds Digest ECB and Disease Risks
Thu, 23 Jan 2020 14:13:15 GMT

Posted To: MBS CommentaryThe bond market--widely expected to have been launching yields up and over 2% in 2020--is instead in the process of testing it's best levels since early December. This has been made possible by a combination of unexpected..[read more]

Mortgage Rates Maintaining Longer-Term Lows For Now
Wed, 22 Jan 2020 21:22:00 GMT

Posted To: Mortgage Rate WatchMortgage rates remained in line with 3-month lows today for the average lender. Several lenders offered marginally better terms compared to yesterday, but in those cases, the only changes were to the upfront costs associ..[read more]

Existing Home Sales Highest in Nearly 2 Years
Wed, 22 Jan 2020 16:00:39 GMT

Posted To: MND NewsWireExisting home sales rose convincingly in December, gaining 3.6 percent compared to sales the prior month. Sales of all existing home types , single-family, townhouses, condos, and cooperative apartments were higher than in Nove..[read more]

Home Prices Still Growing at More than 5% Annually
Wed, 22 Jan 2020 14:56:53 GMT

Posted To: MND NewsWireThe annual rate of home price increases continued at a stable rate in November according to the Federal Housing Finance Agency (FHFA), however there are indications of some acceleration on a shorter-term basis. The FHFA's Housi..[read more]

MBS Day Ahead: Infinite Faith vs Infinite Resignation: Bond Market Edition
Wed, 22 Jan 2020 14:51:22 GMT

Posted To: MBS CommentaryYou know things are bad when I resort to invoking Kierkegaard in bond market commentary, but that's what it's come to. Our quest to observe something interesting in terms of rate momentum is beginning to feel hopeless..[read more]

Warehouse, Broker Products; M&A With Lenders and Vendors; Coronavirus and Bonds
Wed, 22 Jan 2020 14:08:28 GMT

Posted To: Pipeline PressWhat does $4.6 billion dollars buy you these days? A couple casinos: a Blackstone-sponsored JV is paying that for MGM Grand and Mandalay Bay in Las Vegas. For that you’ll receive the income from 9,743 rooms, approximate..[read more]

Fannie Predicts Pick-Up in Residential Construction in 2020
Wed, 22 Jan 2020 13:18:53 GMT

Posted To: MND NewsWireIn its first economic forecast of 2020, Fannie Mae's Economic and Strategic Research (ESR) Group is doubling down on its late 2019 predictions. The economists say that " onstruction is poised to become a significant contributor..[read more]

Mortgage Application Volume Retains Most of Last Week's Gains
Wed, 22 Jan 2020 13:04:29 GMT

Posted To: MND NewsWireThe volume of mortgage applications submitted during the week ended January 17 slowed after a strong performance - a 30.2 percent increase - the prior week, but it was only a small decline . The Mortgage Bankers Association (MB..[read more]

Mortgage Rates Back to 3-Month Lows
Tue, 21 Jan 2020 22:08:00 GMT

Posted To: Mortgage Rate WatchMortgage rates dropped to begin the holiday-shortened week as markets expressed a bit of panic over the coronavirus outbreak in China. This is similar to the SARS outbreak in 2003, which certainly had an impact on both s..[read more]

Gen Z and Millennials Plan on Buying Homes in Larger Numbers
Tue, 21 Jan 2020 17:10:35 GMT

Posted To: MND NewsWireThe share of adults who told the National Association of Home Builders (NAHB) they were considering a home purchase in the next year has now fallen year-over-year for the fifth consecutive time. NAHB's survey for its fourth qua..[read more]

MBS Week Ahead: Light Data Week Leaves Focus Overseas
Tue, 21 Jan 2020 15:22:09 GMT

Posted To: MBS CommentaryIn addition to being a 4-day trading week due to yesterday's holiday, there's also a general lack of big-ticket economic data on tap. In fact, there isn't a single report that qualifies as "top-tier" in terms of m..[read more]

Non-QM, Digital Tools; Population Shifts in Lending; Capital Markets
Tue, 21 Jan 2020 14:03:12 GMT

Posted To: Pipeline PressEveryone is aging, right? “I finally did it! I bought a new pair of shoes with memory foam insoles. No more forgetting why I walked into the kitchen!” People change, populations change, and loan officers must adap..[read more]

MBS RECAP: Bonds Cap Extraordinarily Tame Week Despite Excuses
Sat, 18 Jan 2020 00:16:05 GMT

Posted To: MBS CommentaryWe've seen a whole lot more movement in the bond market for a whole lot less motivation than we had this week. Back to back econ data shockers (Philly Fed and Housing Starts) were scarcely able to get yields back up to Mo..[read more]

Mortgage Rates Off Recent Lows
Fri, 17 Jan 2020 23:48:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved slightly higher over the past two days as strong economic data and corporate earnings coaxed investors into riskier assets like stocks. Bonds (which dictate interest rates) are always being bought an..[read more]

Markets Wrapping Things Up Ahead of Long Weekend
Fri, 17 Jan 2020 15:47:03 GMT

Posted To: MBS CommentarySometimes the market moves in clear response to a headline event or the scheduled release of an economic report. We have clear examples of this recently. last week's Iran-related escalation (and de-escalation) had massive..[read more]

December's Housing Starts Surged to 13-Year High
Fri, 17 Jan 2020 15:30:31 GMT

Posted To: MND NewsWireWhile permits fell from the previous month, the U.S. Census Bureau and the Department of Housing and Urban Development said December was another exceptional month for residential housing starts. Those starts soared to a seasona..[read more]

Renovation Products; CEOs Can't Ignore LIBOR Transition; Cap. Markets
Fri, 17 Jan 2020 14:22:58 GMT

Posted To: Pipeline PressI’ve gotta hand it to those writers who put out listings for real estate agents. Maybe if I had a bunch of money I could live in a “secluded retreat” or an “enchanted villa.” I have never lived i..[read more]

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