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MBS RECAP: Curve Trade Keeps MBS Flat Again
Wed, 25 Nov 2015 23:09:27 GMT

Posted To: MBS CommentaryTrading activity was fairly decent in bond markets today--especially considering the seasonal norms, though this is largely a factor of Thanksgiving falling on the 26th. That means that there will only be one more full tradin..[read more]

Mortgage Rates Break Thanksgiving Tradition
Wed, 25 Nov 2015 22:12:00 GMT

Posted To: Mortgage Rate WatchMortgage rates broke from tradition today by maintaining an almost perfectly flat trajectory leading up to Thanksgiving. This time of year is typically marked by lighter participation among the trading community whose tr..[read more]

MBS MID-DAY: Bond Markets Super Sideways, Unfazed by Data and Events
Wed, 25 Nov 2015 18:28:02 GMT

Posted To: MBS CommentaryBond markets have had plenty of would-be market movers thrown in their general direction today. This began in the overnight session with massive moves in shorter term European yields and substantial moves in longer term yield..[read more]

FHFA Announces 2016 Loan Limit Changes
Wed, 25 Nov 2015 18:15:00 GMT

Posted To: MND NewsWireIn short, the general loan limits remain unchanged from 2015's levels, but several high-cost county limits have been increased . As a reminder, Fannie Mae has a useful Loan Limit Look-Up Table which has been revised with 2016's..[read more]

New Home Sales Buoyed by 135 Percent Gain in New England
Wed, 25 Nov 2015 16:53:52 GMT

Posted To: MND NewsWireNew home sales in October reversed their sharp downturn in September and also bucked other recent sales trends, rising by a substantial 10.7 percent. The U.S. Census Bureau and the Department of Housing and Urban Development re..[read more]

Home Prices Continue Defying Gravity and Expectations
Wed, 25 Nov 2015 15:51:27 GMT

Posted To: MND NewsWirePrice increases did not slow in the third quarter as expected the Federal Housing Finance Agency (FHFA) said today. The agencies purchase-only seasonally adjusted House Price Index (HPI) for the quarter shows that prices rose f..[read more]

IT Risk Management; Quicken's Rocket; How Much is a Tiny House in Pittsburgh?
Wed, 25 Nov 2015 15:46:10 GMT

Posted To: Pipeline PressAs a reminder, the FFIEC has released a new version of the IT Management Booklet , available here . The Federal Financial Institutions Examination Council (FFIEC)'s booklet highlights information regarding information technol..[read more]

Mortgage Apps Decline as Rates Remain Elevated
Wed, 25 Nov 2015 13:51:02 GMT

Posted To: MND NewsWireMortgage applications were a bit of a mixed bag during the week ended November 20, a week in a hammock strung between two holidays. The Mortgage Bankers Association said its Market Composite Index, a measure of application acti..[read more]

MBS Day Ahead: In Some Ways, The Last Day of The Month
Wed, 25 Nov 2015 12:56:46 GMT

Posted To: MBS CommentaryIt's the day before before Thanksgiving, and bond markets couldn't be any less interesting if they tried. Have you ever been so enticed to continue reading about bond markets?! Truth be told, there is a somewhat inter..[read more]

MBS RECAP: Bond Markets Trying Very Hard to Look Like They're Not Trying
Tue, 24 Nov 2015 22:39:26 GMT

Posted To: MBS CommentaryThis continues to be one of the most anomalous Thanksgiving weeks in the history of Thanksgiving weeks--at least as far as bond markets are concerned. As a percentage of the recent average, volumes have been higher than they&..[read more]

Mortgage Rates Remaining Eerily Steady Despite Volatile Precedent
Tue, 24 Nov 2015 21:47:00 GMT

Posted To: Mortgage Rate WatchMortgage rates held steady today on average, with a few lenders improving almost imperceptibly. The most prevalently-quoted conventional 30yr fixed rate remains 4.0% with more than a few lenders still up at 4.125%. If th..[read more]

MBS MID-DAY: Nothing Really Matters Despite Small-Scale Drama
Tue, 24 Nov 2015 18:43:35 GMT

Posted To: MBS CommentaryThe only significant development for markets today in terms of news or economic data was the overnight news that Turkey shot down a Russian fighter jet. If that sounds a bit far removed from the world of MBS and mortgage rate..[read more]

Foreclosures Increase; Delinquency Measures Continue to Fall
Tue, 24 Nov 2015 15:55:59 GMT

Posted To: MND NewsWireBlack Knight Financial Service's monthly "first look" at October month-end mortgage performance standards continues to show a steady decline almost all measures of mortgage distress. The company releases summary data from its l..[read more]

Home Prices Continue to Outstrip Inflation
Tue, 24 Nov 2015 15:54:23 GMT

Posted To: MND NewsWireHome prices continue to rise faster than the rate of inflation and the increase speeded up again in September. The S&P/Case-Shiller U.S. National Home Price Index (HPI), recorded a slightly higher year-over-year gain in Septemb..[read more]

Fannie and Freddie Updates, Multifamily News; Zillow and Google Team Up
Tue, 24 Nov 2015 15:45:43 GMT

Posted To: Pipeline PressNonbank online lender CashCall has paid $2 million in restitution and fines to settle California state allegations that the company duped consumers to take out loans larger than $2,500 that are not subject to interest rate ca..[read more]

MBS Day Ahead: Plenty of Data, but Will it Matter?
Tue, 24 Nov 2015 12:34:19 GMT

Posted To: MBS CommentaryAs is often the case on the week of Thanksgiving, the regularly-scheduled economic data continues apace, even if it must be crammed into fewer days than normal. Apart from slight scheduling variations, the biggest question is..[read more]

MBS RECAP: Bonds Maintain Range Amid Holiday-Week Slowness
Mon, 23 Nov 2015 22:36:33 GMT

Posted To: MBS CommentaryTraders punched the clock, made their trades, and went home today. Before the clock-punching, there was the overnight session, in which European bond markets sold off at a fairly healthy pace. German Bunds were 7bps weaker fr..[read more]

Mortgage Rates Slightly Higher
Mon, 23 Nov 2015 21:32:00 GMT

Posted To: Mortgage Rate WatchMortgage rates rose today for most lenders, albeit modestly. In fact, several lenders were unchanged from Friday's latest levels with the rest seeing varying degrees of weakness. In almost all cases, the weakness would b..[read more]

MBS MID-DAY: Sideways and Slightly Positive After Weak Overnight Session
Mon, 23 Nov 2015 18:38:29 GMT

Posted To: MBS CommentaryThe story of today is largely a two-parter, and a fairly simple one at that. Part 1: bonds weaker in Europe. Part 2: bonds stronger in the US. The end. In all seriousness, the day is not much more complicated than this. Bond ..[read more]

Existing Home Sales Fall 3.4 Percent; Still Up Year-Over-Year
Mon, 23 Nov 2015 15:51:55 GMT

Posted To: MND NewsWirePending sales, which had declined in both September and October did indeed prove to be a leading indicator for existing home sales in October. The National Association of Realtors® said on Monday that, while October sales w..[read more]

Trends in Credit and Credit Scores in Residential Lending; Reporting Ransomware
Mon, 23 Nov 2015 14:58:15 GMT

Posted To: Pipeline PressWhat is a huge concern of Fannie Mae and Freddie Mac? It isn't rates, or credit risk. It is having their business flow, and that of their client's, interrupted due to some type of cyberattack. And I have received plenty of e-..[read more]

MBS Day Ahead: Jam-Packed With Data Destined to be Trumped by Holiday Dynamics
Mon, 23 Nov 2015 14:37:54 GMT

Posted To: MBS CommentaryLast Friday, I talked about some of the general bond market dynamics we tend to see around this time of year. It wouldn't be a bad idea to check that out if you missed it. Today's notes will focus more on this week sp..[read more]

MBS RECAP: Bonds Weaker as Buyers Cover Shorts Early, Then Disappear
Fri, 20 Nov 2015 22:10:00 GMT

Posted To: MBS CommentaryOnce again, the bulk of the day's recap was inadvertently captured in the mid-day-commentary. Feel free to read that instead of this if you want. If you're not into clicking links, here's a redux : As expected, th..[read more]

Mortgage Rates Back to Unchanged After Stronger Start
Fri, 20 Nov 2015 21:37:00 GMT

Posted To: Mortgage Rate WatchMortgage rates started the day slightly lower compared to yesterday's latest offerings. Mid-day weakness in bond markets resulted in most lenders repricing to higher rates in the afternoon. The net effect leaves rate she..[read more]

MBS MID-DAY: Illiquidity Arrives on Schedule, But Bearing Lousy Gifts
Fri, 20 Nov 2015 18:47:54 GMT

Posted To: MBS CommentaryIf illiquidity shows up for the start of the holiday trading season and says "I come bearing gifts!" you do not want those gifts. They typically consist of negative reprices and blood pressure medication. The former is due to..[read more]

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