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MBS RECAP: Mortgages Outperform After European Damage Control
Wed, 28 Jun 2017 21:31:19 GMT

Posted To: MBS CommentaryToday began in hilarious and somewhat glorious fashion with unnamed "ECB sources" overtly doing damage control on Draghi's comments that rocked bond markets yesterday. The "sources" said Draghi's comments were merely ..[read more]

Mortgage Rates Highest in More Than 2 Weeks
Wed, 28 Jun 2017 20:39:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved moderately higher again today, as investors continued digesting the possibility of a "taper tantrum" in Europe. The US version of the taper tantrum occurred in 2013 when the Fed began signaling its i..[read more]

"Lopsided Conditions" Dragging Down Pending Home Sales
Wed, 28 Jun 2017 14:39:00 GMT

Posted To: MND NewsWirePending home sales failed to rise as expected in May, the third straight month that measure has declined. The National Association of Realtors'® (NAR's) Pending Home Sale Index (PHSI) dipped 0.8 percent compared to April, o..[read more]

Waivers Granted for Early Compliance with Servicing Rules
Wed, 28 Jun 2017 14:01:41 GMT

Posted To: MND NewsWireThe Consumer Financial Protection Bureau (CFPB) says it has learned that some servicers anticipate some calendar-related problems in complying with the final rule amending mortgage servicing regulations that were issued by the ..[read more]

The Economy and Rates; Originator Training; Freedom Takes a Bite Out of the Big Apple
Wed, 28 Jun 2017 13:31:41 GMT

Posted To: Pipeline PressTransitional licensing, where a bank LO can move to being a non-depository LO and still can originate? Yup.Contact your rep in Congress to support it . I imagine non-depository lenders are keenly interested in this, although ..[read more]

MBS Day Ahead: Bond Markets Debating Seriousness of ECB Tapering Risk
Wed, 28 Jun 2017 13:19:58 GMT

Posted To: MBS CommentarySeemingly overnight (in fact, it WAS overnight yesterday), the notion of a European taper tantrum burst on the scene following comments from ECB President Draghi. Those were as follows: All signs now point to strengthening re..[read more]

Mortgage Application Activity Slows Significantly
Wed, 28 Jun 2017 12:47:15 GMT

Posted To: MND NewsWireApplications for mortgages plunged during the week ended June 23, even as interest rates remained relatively stable. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, fell ..[read more]

MBS RECAP: On Guard For One Central Banker, Bonds Get Rocked By Another
Tue, 27 Jun 2017 20:59:46 GMT

Posted To: MBS CommentaryBond markets got sucker-punched today. Traders were on the lookout for Yellen's comments at a conference in London in the afternoon. Instead it was overnight comments at a conference in Portugal from ECB President Mario D..[read more]

Mortgage Rates Bounce Higher
Tue, 27 Jun 2017 19:50:00 GMT

Posted To: Mortgage Rate WatchMortgage rates saw their biggest bounce higher in more than a week today as domestic bond markets (which dictate rates) followed a much bigger move in European bond markets. The European move can be traced to comments fr..[read more]

Curtain May be Rising on Another GSE Drama
Tue, 27 Jun 2017 17:59:05 GMT

Posted To: MND NewsWireBloomberg is reporting there appears to be yet another plan in the long running reality show featuring the government sponsored enterprises or GSEs. Fannie Mae and Freddie Mac, which have been in government conservatorship sinc..[read more]

Signs of Deceleration Despite Record High Home Price Index - Case-Shiller
Tue, 27 Jun 2017 14:27:59 GMT

Posted To: MND NewsWireThe S&P CoreLogic Case-Shiller National Home Price Index for April set a record high , on a non-seasonally adjusted (NSA) basis for the fifth consecutive month. Some of the Case-Shiller numbers however, show some deceleration f..[read more]

Investor Updates; Upcoming Training and Events
Tue, 27 Jun 2017 13:31:34 GMT

Posted To: Pipeline PressWorries about Europe’s economies have, in most part, subsided. But rumors swirl regarding The Land of Lincoln. Illinois, it seems, isn't doing too well financially . Underwriters don't have crystal balls, yet must weigh..[read more]

MBS Day Ahead: Rattled by Draghi, Traders Wait For Yellen
Tue, 27 Jun 2017 13:26:37 GMT

Posted To: MBS CommentaryMembers of the FOMC are constantly giving speeches and making appearances at various events. The only exception would be the "blackout period" where Fed speakers refrain from commenting on monetary policy in the week leading ..[read more]

MBS RECAP: Weak Durable Goods Helps Bonds Hold Gains
Mon, 26 Jun 2017 21:35:47 GMT

Posted To: MBS CommentaryDespite a super narrow range throughout the day, last Friday saw 10yr yields close at the 2nd best levels of the year. With that in mind, it wouldn't have been a surprise to see some push back into the center of the recen..[read more]

Rates Still Flat at 8-Month Lows
Mon, 26 Jun 2017 20:21:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were steady to slightly lower today, depending on the lender. Underlying financial markets continue moving in a narrow range--something that's not uncommon for the first few weeks of the summer. It's that ..[read more]

Perceived Sellers' Market Could Lead to Inventory Gains
Mon, 26 Jun 2017 16:25:02 GMT

Posted To: MND NewsWireIs there relief in sight for those oft cited, much maligned tight housing inventories? The National Association of Realtors® (NAR) sees a glimmer of hope in the responses it received to a recent survey. The Housing Opportun..[read more]

Falling Demand, Competition, Push Lenders Toward Easing Standards
Mon, 26 Jun 2017 15:23:52 GMT

Posted To: MND NewsWireAs home buying affordability has declined, it has indirectly moved lenders' apparent willingness to loosen credit standards in the opposite direction. Fannie Mae says its second quarter Mortgage Lender Sentiment Survey shows th..[read more]

Black Knight Home Price Index Hits All-Time High
Mon, 26 Jun 2017 14:11:54 GMT

Posted To: MND NewsWireThe third major home price indicator of the month was released on Monday and again there was no indication that the rate of appreciation is slowing . Black Knight Financial Services said prices, as measured by its National Home..[read more]

Freddie Singing a Different Tune on Housing/Mortgage Outlook
Mon, 26 Jun 2017 14:08:00 GMT

Posted To: MND NewsWireOn November 30, 2016 Freddie Mac's economists issued their monthly Outlook which, in light of the sudden surge in interest rates earlier that month, was decidedly gloomy . MND's coverage of the forecast elicited a lot of concer..[read more]

Bank News: Stress Tests, M&A, Values, Underwriting Changes, New Products
Mon, 26 Jun 2017 14:06:08 GMT

Posted To: Pipeline Press“Statistics are like bikinis. What they reveal is suggestive but what they conceal is vital.” We’re always watching home sales & construction – but it is debatable whether tearing down a house and buil..[read more]

MBS Week Ahead: Bonds Look to Data and Month-End For Breakout Potential
Mon, 26 Jun 2017 13:37:06 GMT

Posted To: MBS CommentaryWhereas the previous week was generally devoid of significant economic data or market moving events, the current week is more of a contender. On the data front, there are relatively important reports throughout the week inclu..[read more]

MBS RECAP: Quietest Day of The Week Despite Several Interesting Tidbits
Fri, 23 Jun 2017 21:32:10 GMT

Posted To: MBS CommentaryWe've been watching the intraday trading ranges in bond markets to keep an eye on just how flat things have been in the wake of last Wednesday's big trading day (due to econ data and the Fed). "Inside day" is a term t..[read more]

Rates Cap Impressively Sideways Week Near Long-Term Lows
Fri, 23 Jun 2017 20:59:00 GMT

Posted To: Mortgage Rate WatchWeeks like this are the reason that some mortgage rate analysis is only done once a week. There haven't been any significant developments in financial markets--at least not as far as bonds (which dictate rates) have been..[read more]

Diversity Not Destined to Dampen Homeownership
Fri, 23 Jun 2017 18:09:16 GMT

Posted To: MND NewsWireThe final installment of a series of working papers produced by the University of Southern California (USC), in partnership with Fannie Mae, looks at the decade-spanning 10-point plunge in the homeownership rate of young Americ..[read more]

New Home Sales Rebound; Prices Crush Previous Record
Fri, 23 Jun 2017 14:46:48 GMT

Posted To: MND NewsWireThe report on May new home sales, released this morning, paints a much brighter picture than last month's release of April data. In that report, the U.S. Census Bureau and the Department of Housing and Urban Development sai..[read more]

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