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MBS RECAP: From Bottom to Top of 2017 Range in One Fell Swoop
Wed, 18 Jan 2017 22:20:01 GMT

Posted To: MBS CommentaryAfter flirting with a break of the lower end of 2017's sideways range yesterday, bond traders clearly decided " now's not the time. " There's precious little to hang one's hat on when it comes to justifying ov..[read more]

Rates Rise Abruptly to 3-Week Highs
Wed, 18 Jan 2017 21:42:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved sharply higher today , more than erasing yesterday's improvement. In fact, in one fell swoop, rates essentially moved from the bottom of 2017's range to the top! There are a few caveats though. First..[read more]

Builder Confidence Slides Off 12-Year High
Wed, 18 Jan 2017 15:39:01 GMT

Posted To: MND NewsWireThe Housing Market Index (HMI) backed down a bit from its post-election surge in January, dropping 2 points to a composite reading of 67. The National Association of Homebuilders (NAHB)/Wells Fargo index, which measures builder..[read more]

Deutsche Settles; Investor Requirement and Underwriting Changes
Wed, 18 Jan 2017 14:07:23 GMT

Posted To: Pipeline PressThe mortgage world is full of acronyms. Some refer to Finance of America as “FOAM,” for example. There are new ones every year, making it hard for old-timers in lending to keep track. Speaking of which, I’m ..[read more]

MBS Day Ahead: Active Day for Data; Range Remains Intact
Wed, 18 Jan 2017 13:29:13 GMT

Posted To: MBS CommentaryAlthough yields were able to close at the lowest levels in more than a month yesterday, bonds continued to trade in the same intraday range (roughly 2.30-2.44% in terms of 10yr yields). Today begins with that range being firm..[read more]

Refi Applications Continue Healing With Help From FHA Fee Cut
Wed, 18 Jan 2017 13:19:36 GMT

Posted To: MND NewsWireMortgage applications rose on a seasonally adjusted annual basis during the week ended January 13. The Mortgage Bankers Association said its Market Composite Index, a measure of applications volume, increased by 0.8 percent com..[read more]

MBS RECAP: Best Closing Levels Since Late November
Tue, 17 Jan 2017 22:48:17 GMT

Posted To: MBS CommentaryIn some regards, bonds had their best day of the year today. The outright gains weren't quite as big as Jan 5th or 9th, but closing yields were the lowest since Nov 29th! Much of today's bond market positivity owes it..[read more]

Mortgage Rates Back Near 2-Month Lows
Tue, 17 Jan 2017 21:53:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved lower today , generally recovering the losses seen last Friday. This brings many lenders back in line with the lowest levels since November 17th, although last Wednesday (Jan 11) was slightly better ..[read more]

Fed's Dudley Wants You to Refi (Safely, of Course)
Tue, 17 Jan 2017 17:51:15 GMT

Posted To: MND NewsWireDebt finances additional consumption. That could be the summary of a speech given on Tuesday to the National Retail Federation's annual convention by William C. Dudley, President and CEO of the Federal Reserve Bank of New York...[read more]

Legal and Regulatory Update; Credit Risk Transfers; 2016 Non-Agency Issuance Stats
Tue, 17 Jan 2017 14:17:45 GMT

Posted To: Pipeline PressWell, we have 24 business days until our next Federal holiday (President’s Day on February 20). Sigh. Much worse is this very, very sad, troubling statistic: News came out that drug overdoses are involved in more deaths..[read more]

MBS Week Ahead: For Bonds, Still About Stocks and "The Range"
Tue, 17 Jan 2017 13:46:39 GMT

Posted To: MBS CommentaryJanuary continues playing host to the same level of stock/bond correlation that we typically see at the end and beginning of any given year. Beyond calendar considerations, we also see this behavior during times of uncertaint..[read more]

MBS RECAP: Much Weaker After Data, but Still in Same Old Range
Fri, 13 Jan 2017 21:54:52 GMT

Posted To: MBS CommentaryGranted, we might wake up next Tuesday (markets are closed Monday) to find that bonds are quickly breaking out of the recent range. But as for this week, the 2.34%-2.42% range in 10yr yields remained intact. There were severa..[read more]

Mortgage Rates End Week at Highs
Fri, 13 Jan 2017 20:44:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved higher today , even after many lenders offered mid-day improvements in the afternoon. Bond markets (which underlie rate movement) reacted negatively to this morning's economic data. The biggest repor..[read more]

Carson will "Examine" FHA Premium Cut
Fri, 13 Jan 2017 16:33:50 GMT

Posted To: MND NewsWireThe surprise reduction in FHA annual premiums announced last week by the current Secretary of Housing and Urban Development (HUD) may not survive long into the new administration. Ben Carson, M.D. President-elect Donald Trump's..[read more]

Primer on HUD and Carson Testimony, Thoughts on MIP Cut, and Reduced Government Footprint
Fri, 13 Jan 2017 14:05:35 GMT

Posted To: Pipeline PressThe average person in the residential lending sector would be hard pressed to say what Julian Castro, the current Secretary of HUD, does , or what role he serves. (Kind of like asking someone what gluten is.) We should rememb..[read more]

MBS Day Ahead: First and Only Major Econ Data of The Week
Fri, 13 Jan 2017 13:26:30 GMT

Posted To: MBS CommentaryBond markets are beginning the day slightly stronger ahead of the week's only significant economic data. The 8:30am time slot brings Retail Sales (expected at +0.7) and Producer Prices (core year-over-year expected to dro..[read more]

MBS RECAP: Bonds Pull Back to Unchanged After Speculative Surge
Thu, 12 Jan 2017 23:27:25 GMT

Posted To: MBS CommentaryIn glancing at various trader/analyst/strategist emails, I see perhaps a greater diversity of opinions about today than of any other recent trading day. Some thought it was strong --a confirmation of yesterday's move belo..[read more]

Mixed Bag For Mortgage Rates Amid Market Volatility
Thu, 12 Jan 2017 22:33:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were mixed today , depending on the lender. Discrepancies between lenders have been higher than normal over the last 24 hours for several reasons. This began yesterday when bond markets improved enough for..[read more]

Trulia Notes Increasing Incidence of Failed Sales
Thu, 12 Jan 2017 14:40:06 GMT

Posted To: MND NewsWireIt ain't over 'til it's over, and that seems to be increasingly true of contacted home sales. Trulia reported on Wednesday that, "Deals to sell homes are falling through at a faster rate than they were a year ago and it's agree..[read more]

MBA Expects December Decline in New Home Sales
Thu, 12 Jan 2017 14:32:31 GMT

Posted To: MND NewsWireNew home sales are projected to fall in December relative to November, not an unexpected pattern as the year-end holidays approach. The Mortgage Bankers Association (MBA) says its Builder Applications Survey (BAS) for the month..[read more]

Reverse Mortgage Trends: NY Proposal, HECM Purchase Program, and Upcoming Conference
Thu, 12 Jan 2017 14:29:26 GMT

Posted To: Pipeline PressEver wondered how much Ben Carson is worth, where he puts his money, and how much money he earns? Here you go . His hearing is today for the HUD spot. "'s difficult for a child to learn at school if he or she doesn't hav..[read more]

MBS Day Ahead: Downtrend Taking Shape; Focusing on Stocks and Technicals
Thu, 12 Jan 2017 13:28:27 GMT

Posted To: MBS CommentaryAs the new year continues, a common new year's theme is in full effect: the stock/bond correlation. Stocks and bonds frequently move together over short time frames (but not over super long time frames). The beginning of ..[read more]

MBS RECAP: Decent Day for Bonds, Despite Complexity and Volatility
Wed, 11 Jan 2017 22:09:36 GMT

Posted To: MBS CommentaryToday was one of the more complex trading days we've had recently. Three things were certainly in play and 2 of them were interdependent. 1. Stocks 2. Trump's Press Conference 3. 10yr Treasury auction Bonds weren'..[read more]

Mortgage Rates Lowest in Nearly 2 Months
Wed, 11 Jan 2017 20:57:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell today , in many cases to levels not seen in well over a month . The average lender was just a hair better than last Thursday, meaning you'd have to go back to November 17th to see anything better. 4.1..[read more]

The Ceaseless Lender and Investor FHA, VA, Fannie, Freddie Program Changes
Wed, 11 Jan 2017 14:24:40 GMT

Posted To: Pipeline PressWhile rumors swirl about the topic for the phone call with Stearns Lending’s correspondent-wide staff today (let’s hope its good news), Richard Cordray’s job future, and more retail layoffs (this time Walmar..[read more]

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