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MBS RECAP: One Of Those Calm Days That Almost Makes You Wonder
Thu, 22 Feb 2018 22:25:15 GMT

Posted To: MBS CommentaryMBS gained a quarter of a point today and 10yr yields fell more than 3bps despite stock market gains (albeit from yesterday's weak closing levels) and ample corporate bond market issuance. That might lead to some small am..[read more]

Mortgage Rates Just Slightly Lower
Thu, 22 Feb 2018 21:48:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell modestly today as underlying bond markets experienced a rare absence of volatility. Rather than view this as some sort of turning point for what has been a fairly relentless march to higher ground, th..[read more]

MBS Day Ahead: 2 Charts That Help Explain the Big Picture
Thu, 22 Feb 2018 14:47:26 GMT

Posted To: MBS CommentaryThere's nothing significant on the econ calendar today, and bonds are starting out by retreating (in a good way) back into the center of the ongoing uptrend. On days like today, bond analysis has to look to the bigger pic..[read more]

Training and Resources; Economy Continues to Move Rates Higher
Thu, 22 Feb 2018 14:12:29 GMT

Posted To: Pipeline PressJobs & housing drive the economy, and yesterday we learned that Existing Home Sales fell 3.2% in January, according to NAR . Lawrence Yun, NAR's Chief Economist said: “The utter lack of sufficient housing supply and its..[read more]

MBS RECAP: Fed Minutes or Same Old Trend. Either Way, Bonds Didn't Like It
Wed, 21 Feb 2018 23:29:27 GMT

Posted To: MBS CommentaryThe Fed released the minutes from its late January meeting today. Markets thought about them for 20 minutes and then tanked. What's up with that?! Looking at rate volatility as a factor of Fed policy can be tricky busines..[read more]

Mortgage Rates Hit New 4-Year Highs
Wed, 21 Feb 2018 22:35:00 GMT

Posted To: Mortgage Rate WatchMortgage rates continued higher today following the release of the Minutes from the Federal Reserve's (aka "The Fed") most recent policy meeting. The Fed was slightly more upbeat than markets expected, saying that most m..[read more]

Existing Home Sales Decline, Inventory Still a Big Issue
Wed, 21 Feb 2018 16:16:11 GMT

Posted To: MND NewsWireSales of existing homes fell again in January, the second consecutive month-over-month decline. Sales of pre-owned single-family homes, townhomes, condos, and cooperative apartments were down 3.2 percent compared to December, a..[read more]

MBS Day Ahead: Markets Expecting a Challenging Auction and Hawkish Fed Minutes
Wed, 21 Feb 2018 14:39:34 GMT

Posted To: MBS CommentaryToday's key events arrive in the afternoon in the form of a 5yr Treasury auction at 1pm and the release of the FOMC Minutes at 2pm. Not to be confused with the Fed Policy Announcement, the Minutes simply provide a more de..[read more]

Flagstar's Expansion; News Regarding Freddie and Fannie
Wed, 21 Feb 2018 14:12:47 GMT

Posted To: Pipeline PressWhy couldn’t the sesame seed leave the gambling casino? Because he was on a roll. In an admittedly weak segue, rolls are made in kitchens, and LOs may want to pass this link along to their Realtor clients: here are the ..[read more]

Mortgage Apps Finally Feeling Effects of Higher Rates
Wed, 21 Feb 2018 13:24:51 GMT

Posted To: MND NewsWireMortgage application volumes suffered their worst losses of 2018 last week. The Mortgage Bankers Association (MBA) said both purchase mortgages and applications for refinancing were down significantly during the week ended Febr..[read more]

MBS RECAP: Unofficial 4th Day of Weekend Leaves Bonds Slightly Weaker
Tue, 20 Feb 2018 23:10:35 GMT

Posted To: MBS CommentaryToday was a total dud in terms of volume and volatility. That's not all that uncommon on the Tuesday following a 3-day weekend, especially if there are no major events or headlines. Overnight bond market movement was dict..[read more]

Mortgage Rates Unable to Extend Last Week's Gains
Tue, 20 Feb 2018 21:54:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved back up today after ending last week on a positive note. Improvements in rates have been uncommon so far in 2018. In fact, we haven't seen more than 2 consecutive days without a move higher. In that ..[read more]

MBS Week Ahead: Positions Part 2: Making Better Sense of Early 2018
Tue, 20 Feb 2018 14:57:13 GMT

Posted To: MBS CommentaryLast Friday's Day Ahead was all about positions. Read it HERE , if you haven't done so or need a refresher. It advocated caution with respect to floating or otherwise being optimistic based on early gains because thos..[read more]

New Products, Expansion; Legal and Political Updates
Tue, 20 Feb 2018 14:12:48 GMT

Posted To: Pipeline PressWelcome to Day 1 of the longest period in the United States without a federal holiday: President's Day to Memorial Day. Some will think, “That’s a drag,” while others will think, “That’s more day..[read more]

MBS RECAP: Another Chance to Not Get Your Hopes Up
Fri, 16 Feb 2018 21:14:17 GMT

Posted To: MBS CommentaryTiny pockets of gains have come and gone in the vast sea of red that's dominated 2018 so far. Each pocket has attempted to lure optimists into a "bull trap." In other words, originators want to be bullish on rates, so the..[read more]

Mortgage Rates Catch a Break Before Long Weekend
Fri, 16 Feb 2018 20:49:00 GMT

Posted To: Mortgage Rate WatchFinancial markets in the US will be closed for President's Day on Monday. Thus, mortgage lenders will not be open, nor will they be accepting locks. Given that mortgage rates took the road less traveled in 2018 and actua..[read more]

Fannie Mae: So Now Things are Moving Too Fast?
Fri, 16 Feb 2018 17:36:33 GMT

Posted To: MND NewsWireSome people are never happy . For most of the ten years following the start of the Great Recession the experts have focused (can we say harped?) on the theme of a slow recovery. Now, after a couple of upticks in the inflation r..[read more]

MBS Day Ahead: In a Position to Improve?
Fri, 16 Feb 2018 15:16:14 GMT

Posted To: MBS CommentaryWhile they're extremely important to institutional investors and analysts, the role of trading positions in the bond market is one of the most easily overlooked factors in rate movement over shorter time horizons. "Positi..[read more]

A Happy New Year for Construction Stats
Fri, 16 Feb 2018 14:59:26 GMT

Posted To: MND NewsWireResidential construction got off to a strong start in January, with sizable increases in both permits and housing starts and only a slight downturn in completions. The gains follow a particularly disappointing performance in co..[read more]

Subservicing Product; Tax Changes' Impact on Business
Fri, 16 Feb 2018 14:11:31 GMT

Posted To: Pipeline PressMortgage rates are greatly influenced by supply and demand. And if both the U.S. government and individuals need to borrow money, the government usually wins. Total U.S. household debt hit an all-time high of $13.15 trillion ..[read more]

MBS RECAP: Deceptively Bad Day For Bonds
Thu, 15 Feb 2018 21:14:17 GMT

Posted To: MBS CommentaryAt face value, today was great! Bonds overlooked all of the morning's economic data (no surprise) and made modest gains that were subsequently held throughout the session. There was very little volatility. The ground-hold..[read more]

Rates Hold Steady Despite Stock Gains
Thu, 15 Feb 2018 20:41:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were roughly unchanged today. Some lenders even offered improved rates in the afternoon as underlying bond markets managed to hold modest gains. All this despite another winning day for stocks (5th in a ro..[read more]

Fannie/Freddie Need Your Money Again, But Not Like They Used To
Thu, 15 Feb 2018 19:04:13 GMT

Posted To: MND NewsWireWhile the prospect of Fannie Mae and Freddie Mac needing taxpayer money conjures up images of a failing mortgage market requiring a government bailout, that's very far from the case this time around. In fact, taxpayers continue..[read more]

Homebuilders More Optimistic Over the Next Six Months
Thu, 15 Feb 2018 15:37:15 GMT

Posted To: MND NewsWireNew home builders are looking ahead, and the National Association of Home Builders (NAHB) says this optimism was reflected in its Housing Market Index (HMI) for February. While the total HMI, which is also sponsored by Wells Fa..[read more]

New HUD Budget Could Defund Rental Assistance, Other Programs
Thu, 15 Feb 2018 15:33:31 GMT

Posted To: MND NewsWireAlthough it has been declared by many in Congress as "dead on arrival" the Trump Administration's proposed 2019 budget appears more predicated on another cliché - "If at first you don't succeed..." The budget again goes ..[read more]

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