Steve Petersen

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Real Estate News
MBS RECAP: Bonds Battle Back, But All Inside The Range
Fri, 22 Jul 2016 21:32:55 GMT

Posted To: MBS CommentaryBond markets had yet another uneventful day with yet another close inside the same old range that's dominated the entire week (with one brief exception yesterday morning). None of the movement that takes place in such a n..[read more]

Mortgage Rates Steady at 1-Month Highs
Fri, 22 Jul 2016 19:51:00 GMT

Posted To: Mortgage Rate WatchMortgage rates didn't budge , compared to yesterday's, which leaves them in line with their highest levels since late June. A small majority lenders have moved up from quoting conventional 30yr fixed rates of 3.375% to 3..[read more]

Fannie Mae sees Brexit as Mostly Positive for Housing
Fri, 22 Jul 2016 15:24:28 GMT

Posted To: MND NewsWireFannie Mae's economists have upgraded projections for economic growth in the second quarter to by 0.3 percent to 2.4 percent because of unexpectedly strong consumer spending in May although they have left the forecast for the s..[read more]

The Start isn't the End in Home Building
Fri, 22 Jul 2016 15:19:37 GMT

Posted To: MND NewsWireEvery month the Census Bureau and the Department of Housing and Urban Development issues statistics on residential construction - permits authorized, construction starts, and homes completed. No one seems to pay much attention ..[read more]

Trends in Building and Lending - Owning Less Expensive Than Renting in How Many States?
Fri, 22 Jul 2016 15:03:05 GMT

Posted To: Pipeline PressAll the housing statistics this week made my head spin. How good would you be at building your own house? Here’s a short 10 question quiz that will see if you're up to it. (Hint: it helps if you know what a stud is.) He..[read more]

MBS Day Ahead: The New Narrow--At Least For Now
Fri, 22 Jul 2016 13:05:43 GMT

Posted To: MBS CommentaryIf bond-trading aliens scanned the universe for signs of life and happened upon planet earth this week, they probably wouldn't even send an imperial probe droid to check things out any further. There just haven't been..[read more]

MBS RECAP: Bond Buying Switch Flipped After Early Weakness
Thu, 21 Jul 2016 21:51:58 GMT

Posted To: MBS CommentaryAny time we watch a sideways range rates with fairly clear technical boundaries, it's only natural to hope that the upper boundary will hold up in the face of weakness. It's also logical to get a little anxious when r..[read more]

Mortgage Rates Highest in Nearly a Month
Thu, 21 Jul 2016 20:59:00 GMT

Posted To: Mortgage Rate WatchFor most lenders, you'd have to go back to late June in order to see mortgage rates any higher than they were today, although several lenders did offer improvements as market conditions allowed in the afternoon. Addition..[read more]

Boomers Ignoring Conventional Housing Wisdom
Thu, 21 Jul 2016 17:04:45 GMT

Posted To: MND NewsWireOh those Baby Boomers. Even as they age they don't retire, at least not from the public stage. This week those over age 55 were the subject of Freddie Mac's Insight report. Freddie Mac Chief Economist Sean Becketti says the con..[read more]

First-Time Buyers Help Push Home Sales to 9-Year High
Thu, 21 Jul 2016 15:03:43 GMT

Posted To: MND NewsWireSales of existing homes increased in June for the fourth consecutive month . The National Association of Realtors® (NAR) said it was encouraged to see the month also bring a modest increase in the percentage of first-time h..[read more]

Four Divisions Post Home Price Losses
Thu, 21 Jul 2016 14:48:58 GMT

Posted To: MND NewsWirePrices increased by 0.2 percent from April to May on a seasonally adjusted basis according to figures released today by the Federal Housing Finance Agency (FHFA). Its House Price Index (HPI) reflects prices of homes purchased w..[read more]

Purchases Dominated Pre-Brexit
Thu, 21 Jul 2016 14:44:04 GMT

Posted To: MND NewsWireWhile it's a bit of retrospective considering the drop in rates brought on by the Brexit news late in the month, the share of purchase originations hit a near two-year high in June according to data released this week by Ellie ..[read more]

CFPB: Credit Unions, Research Conference, HMDA, Privacy Webinar, and YouTube Video
Thu, 21 Jul 2016 14:39:03 GMT

Posted To: Pipeline PressHappy 6th year-old-birthday to the Dodd-Frank Wall Street Reform and Consumer Protection Act. Or is it the CFPB’s 5th “birthday”? For those new to the business, the passage of Dodd-Frank in July 2010 put in ..[read more]

MBS Day Ahead: Still Trying to Fight Off Weaker Momentum
Thu, 21 Jul 2016 12:49:58 GMT

Posted To: MBS CommentaryWith slight weakness overnight, bonds begin the domestic trading session with their backs against the wall, yet again. The "wall" in this case could be thought of as more of a "ceiling" marking the upper boundary of the curre..[read more]

MBS RECAP: Bonds in Holding Pattern; Analysts Showing Hands
Wed, 20 Jul 2016 20:30:32 GMT

Posted To: MBS CommentaryOver the past two days there has been a relative explosion of analyst interviews (from big firms like JP Morgan , etc.) calling for big, inevitable pain in bond markets. This is a familiar tune after bonds begin moving higher..[read more]

CoreLogic: Home Price Surge is Different this Time
Wed, 20 Jul 2016 19:04:05 GMT

Posted To: MND NewsWireCoreLogic, in a recent article on its blog, celebrated, if that's the word, the 10 th anniversary of the housing bubble. Principal Economists David Stiff said that the CoreLogic Case-Shiller Home Price Index reached its peak in..[read more]

Discussing "Discount Points" Amid Eerily Steady Mortgage Rates
Wed, 20 Jul 2016 18:24:00 GMT

Posted To: Mortgage Rate WatchMortgage rates held perfectly steady today, with most lenders offering the exact same quotes as yesterday. The most prevalent conventional 30yr fixed rates remain in a range of 3.375% to 3.5% on top tier scenarios, but s..[read more]

New Products Including LE tool, Doc Management; FHA/PACE; Redwood's $2.5 Million SFH
Wed, 20 Jul 2016 14:22:36 GMT

Posted To: Pipeline PressRemember when someone was "fired" instead of "managed out?" Then there's a good old-fashioned purge like what Turkish President Erdogan did yesterday to over 15,000 education officials from the government. Personnel changes h..[read more]

MBS Day Ahead: "Key Levels" Ain't Always Perfect
Wed, 20 Jul 2016 13:25:44 GMT

Posted To: MBS CommentaryBond yields hit all time lows. Then they bounced higher. Widespread discussion ensued on the next "key levels" to watch. The goal, of course, is to determine whether or not any given level of weakness is alarming or simply al..[read more]

Rising Rates Put Brakes on Mini Refi Boom
Wed, 20 Jul 2016 12:19:39 GMT

Posted To: MND NewsWireInterest rates reversed direction during the week ended July 15, ending, whether temporarily or not, several weeks of declines. In response, applications for most mortgage products decreased on a seasonally adjusted basis. The ..[read more]

MBS RECAP: Exceptionally Quiet Day; More of a "Pass"
Tue, 19 Jul 2016 21:15:39 GMT

Posted To: MBS CommentaryIn the magical sharing circle that is global financial markets, the "talking stick" was passed to bonds, as it is every day. But rather than share a magical story, bonds simply said " pass ." And that's about as riveting ..[read more]

Mortgage Rates Flat as Anticipation Builds For Next Move
Tue, 19 Jul 2016 20:01:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were sideways in some cases today, and very slightly lower in others, making for one of their better performances over the past few weeks. During that time, they've generally been moving higher following e..[read more]

Distressed Sales Expected to Return to Pre-Crisis Share in 2017
Tue, 19 Jul 2016 18:43:52 GMT

Posted To: MND NewsWireCoreLogic has cut back the timeline under which it expects to see distressed properties return to the share of sales that prevailed prior to the housing crisis. Its report on distressed sales for April now anticipates that, at ..[read more]

Housing Starts/Permits Lagging 2015 Numbers
Tue, 19 Jul 2016 14:38:39 GMT

Posted To: MND NewsWireThe Residential Construction Report from the U.S. Census Bureau and the Department of Housing and Urban Development reported that, while both permits and housing starts rose in June compared to the previous month, both were dow..[read more]

Vendor Updates; Events and Training; Secondary Marketing Activity Picking Up
Tue, 19 Jul 2016 13:22:26 GMT

Posted To: Pipeline PressSummer time… barbecues, time in the sun, fun on the water – unless you’re in Michigan and you believe that rivers flow in circles and one spends three days on it! Switching gears to the markets, by now most..[read more]

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