Steve Petersen

leftnav photo

Real Estate News
Wage Growth Shocker Pushes Mortgage Rates to 2-Month Lows
Sat, 01 Aug 2015 01:02:00 GMT

Posted To: Mortgage Rate WatchGet out your calendar. Flip, swipe, or glance back at May 29th. That's where we have to go to see mortgage rates any lower than they are today. After a delightful, but incredibly boring streak of mostly good days, rates ..[read more]

MBS RECAP: Bond Markets Thrive on Wage Growth Let-Down
Sat, 01 Aug 2015 00:58:56 GMT

Posted To: MBS CommentaryThis morning's Employment Cost Index came out of left field with sobering news for anyone counting on a 2015 Fed Rate hike. Fed Fund Futures (which measure the likelihood of a hike by a certain time frame) went fairly wil..[read more]

CFPB Hits Servicer for Creating "Loan Modification Purgatory"
Fri, 31 Jul 2015 17:06:47 GMT

Posted To: MND NewsWireA Texas mortgage servicer has run badly afoul of the Consumer Financial Protection Bureau (CFPB) for repeated violations of servicing rules . Residential Credit Solutions has agreed to pay $1.5 million in restitution to its vic..[read more]

MBS MID-DAY: Big Rally After Super Weak Wage Growth
Fri, 31 Jul 2015 16:28:09 GMT

Posted To: MBS CommentaryToday's market mover came out of left field, and in a big way. The Employment Cost Index is typically a non-event, having only moved markets noticeably one other time in the past few years. But it completely rocked them t..[read more]

Wells MSA News; CFPB TRID Toolkit; Capital Markets Trends & Student Loans
Fri, 31 Jul 2015 14:20:34 GMT

Posted To: Pipeline PressA rare blue moon (two full moons appearing in the same calendar month) will be visible in the sky today for the first time in three years. We won't see the next one until early 2018 - and imagine how residential lending, mark..[read more]

MBS Day Ahead: Closer Look at Changes in Yield Curve
Fri, 31 Jul 2015 11:33:23 GMT

Posted To: MBS CommentaryYesterday's recap mentioned a 'farewell' to low short term rates despite longer term rates 'faring well.' This is a reference to the major changes that have been taking place with the yield curve in July. ..[read more]

MBS RECAP: Longer Term Rates Fare Well, as Low Short-Term Rates Say Farewell
Thu, 30 Jul 2015 20:51:42 GMT

Posted To: MBS CommentaryAs of mid-July bond markets seem to have put their foot down with respect to the relationship between long and short term rates. With the economic recovery and global growth outlook still open to debate--not to mention with g..[read more]

Mortgage Rates Stay Steady After GDP
Thu, 30 Jul 2015 19:08:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were very close to unchanged despite market volatility surrounding the release of today's GDP figures. GDP can occasionally cause a significant response in mortgage rates, and that's especially true of the..[read more]

Wells Fargo pulls out of Marketing Agreements with Agents, Builders
Thu, 30 Jul 2015 18:10:33 GMT

Posted To: MND NewsWireWell Fargo Bank announced today that it will immediately begin winding down its marketing services and desk rental agreements with real estate firms, builders, and some other referral sources. Franklin Codel, executive vice pre..[read more]

Rental Housing a Growing Burden on Low Wage Earners
Thu, 30 Jul 2015 15:37:23 GMT

Posted To: MND NewsWireFinding an affordable place to rent within a reasonable distance of employment is becoming increasingly difficult according to Freddie Mac executive David Leopold. Leopold, writing in the company's Executive Perspectives blog s..[read more]

MBS MID-DAY: Just Barely Holding Gains After Volatile Morning
Thu, 30 Jul 2015 15:34:55 GMT

Posted To: MBS CommentaryBond markets came into the domestic session in slightly weaker territory owing largely to losses that occurred right at the start of the overnight session. 10yr yields were dragged up to 2.322 as Asian markets had their first..[read more]

Equity Acceleration Slows, Are Some Owners Cashing Out?
Thu, 30 Jul 2015 15:05:43 GMT

Posted To: MND NewsWireThe rich get richer? When it comes to equity that appears to be the case according to information released by RealtyTrac on Thursday. The company's U.S. Home Equity & Underwater Report shows an increase in the number of "equity..[read more]

CFPB's Latest Fine; JD Powers' Servicing Survey; Prospect Withdraws From MSA Biz
Thu, 30 Jul 2015 14:09:27 GMT

Posted To: Pipeline PressFun with government numbers: approximately 52.2 million people in the U.S. participated in major means-tested government assistance programs each month in 2012, according to a U.S. Census Bureau report . Right or left, Democr..[read more]

MBS Day Ahead: Important Day for The Shorter Term Trend
Thu, 30 Jul 2015 11:33:34 GMT

Posted To: MBS CommentaryThe direction of the trend in rates (or "bond markets") varies depending on the time frame in question. For instance, looking back to the 1980's, rates are still in an epic trend lower. That only really changes if we begi..[read more]

MBS RECAP: Fed Statement No Big Deal for Bonds
Wed, 29 Jul 2015 22:23:23 GMT

Posted To: MBS CommentaryThe Fed made a few token changes to its policy statement today, but as expected, no overtures for an impending rate hike. At least that wasn't the case superficially. If you want to get a bit philosophical with the Fed ve..[read more]

Mortgage Rates Barely Budge After Fed Announcement
Wed, 29 Jul 2015 21:10:00 GMT

Posted To: Mortgage Rate WatchMortgage rates had an exceptionally boring day despite the presence of the Fed Announcement. Major communications from the Fed (which include announcements, meeting minutes, and certain speeches) always have the potentia..[read more]

MBS MID-DAY: Under Modest Pressure Ahead of Fed
Wed, 29 Jul 2015 15:37:30 GMT

Posted To: MBS CommentaryBond markets have continued taking measured steps back from the strongest levels in nearly 3 weeks seen on Monday. So far, today's selling pressure has been roughly in line with yesterday's. This time, it's more a..[read more]

Wells Business Channel Rumor; Conventional Conforming Updates Never Cease
Wed, 29 Jul 2015 15:11:16 GMT

Posted To: Pipeline PressI ain't one that puts much creed into book learnin'. But somes, I'm guessin', do. The Mortgage Bankers Association will be offering a Path to Diversity & Inclusion Scholarship to eligible candidates looking to attend MBA Educ..[read more]

June sees Pull-Back in Pending Sales
Wed, 29 Jul 2015 14:13:36 GMT

Posted To: MND NewsWirePending home sales dipped slightly in June, ending five straight months of increases. The National Association of Realtors® (NAR) said today that pending sales were down 1.8 percent from May, a month that reached the highes..[read more]

Modest Uptick in Refinancing After Modest Drop in Rates
Wed, 29 Jul 2015 13:09:41 GMT

Posted To: MND NewsWirePerhaps consumers viewed the recent retreat in rates as their last chance to refinance before the Fed starts ratcheting up rates - maybe today, maybe in September, but mortgage applications, especially for refinancing, increase..[read more]

MBS Day Ahead: Last FOMC Meeting Before Rate Hike Becomes Real Risk
Wed, 29 Jul 2015 11:33:38 GMT

Posted To: MBS CommentaryAlthough Pending Home Sales will be out this morning at 10am, and although that's fairly interesting data in its own right, today's broader market focus will most assuredly be on the FOMC. Today's Fed announcement..[read more]

MBS RECAP: As Far as Down Days Go, Not Too Bad
Tue, 28 Jul 2015 21:43:24 GMT

Posted To: MBS CommentaryMBS ended the day in slightly weaker territory, and they did so in about the gentlest possible way . The domestic session began with trading levels in much weaker territory after Treasury yields rose somewhat significantly ov..[read more]

Mortgage Rates Finally Buck Trend
Tue, 28 Jul 2015 21:43:00 GMT

Posted To: Mortgage Rate WatchMortgage rates bucked the recent trend of steady, modest improvements to end just slightly higher today. That said, the move was just as small as most recent examples, and barely returns most lenders to last Friday's rat..[read more]

Homeownership Continues Dismal Decline; Rentals Soar
Tue, 28 Jul 2015 18:29:31 GMT

Posted To: MND NewsWireHomeownership declined yet again in the second quarter of 2015. The Census Bureau said that the national rate dropped from 63.7 percent in the first quarter to 63.4 percent in the second and was more than a point down from the ..[read more]

MBS MID-DAY: There's a Bright Side to Today's Bond Market Weakness
Tue, 28 Jul 2015 15:24:26 GMT

Posted To: MBS CommentaryBond markets pulled back overnight on a combination of global stock market stability and European data. Selling pressure remained this morning as corporate debt issuance is active. (That means that firms that were planning on..[read more]

 © 2015 Agent Image All rights reserved. | Terms | Sitemap Design by Agent Image - Real Estate Web Site Design