Steve Petersen

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Real Estate News
MBS RECAP: Month-End Quells Volatility, but Keeps Bonds Green
Tue, 31 Mar 2015 21:12:55 GMT

Posted To: MBS CommentaryIt's rare that I'll decide to include a chart with a shorter maturity yield curve constituent in the Day Ahead. In this morning's case, that happened to be the 3yr Treasury note, and 3's continued outperformin..[read more]

Mortgage Rates Inch Lower to End March; Volatility Ahead
Tue, 31 Mar 2015 20:46:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell again today extending a 3 day winning streak after shooting abruptly higher in the middle of last week. That damage hasn't been completely undone yet, and we shouldn't expect it to be, given that unde..[read more]

New Indicator says Housing is Healthy, Downturn unlikely
Tue, 31 Mar 2015 19:03:56 GMT

Posted To: MND NewsWireNationwide said on Tuesday that the overall housing market is healthier than at any time since 2001 , the earliest point for which data is available and that data suggests there is little reason to fear a national housing downt..[read more]

MBS MID-DAY: Month End Sees Complex Dance Between Stocks, Bonds, and the Yield Curve
Tue, 31 Mar 2015 16:43:23 GMT

Posted To: MBS CommentaryAfter a relatively uneventful overnight session, bond markets began the day in slightly stronger territory. The shorter end of the yield curve began the day in much stronger territory, carrying on the theme discussed in the D..[read more]

Update from MBA Tech Conference; What Percentage of Lenders is Testing TRID?
Tue, 31 Mar 2015 14:57:50 GMT

Posted To: Pipeline PressAmelia Earhart was quoted as saying, "Never interrupt someone doing something you said couldn't be done." Few thought that the refi boom could have lasted this long, yet it is still alive. Sure refis are bound to taper off - ..[read more]

Fewer Cities Bucking Flattening Home Price Trend
Tue, 31 Mar 2015 14:47:36 GMT

Posted To: MND NewsWireHome prices flattened on a month-over-month basis in January even as annual prices continued to increase S&P Dow Jones Indices said today. The Case-Shiller indexes for national as well as selected metropolitan areas changed onl..[read more]

MBS Day Ahead: Balancing Month-End Trading With Other Motivations
Tue, 31 Mar 2015 11:34:12 GMT

Posted To: MBS CommentaryToday is the last day of the month and quarter (or the fiscal year-end for many domestic entities or the entire nation of Japan). That makes the end of March a bit more eventfu l, historically, than the end of the other three..[read more]

MBS RECAP: Another Quiet Session With a Narrow Range and Decent Gains
Mon, 30 Mar 2015 21:16:10 GMT

Posted To: MBS CommentaryFor MBS, today was substantially similar to Friday, with a narrow but positive trading range and little fanfare surrounding any headline event. That's consistent with the expectation for the first two days of the week, wh..[read more]

Mortgage Rates Slightly Improved Over Weekend
Mon, 30 Mar 2015 19:59:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell moderately to begin the week, but haven't yet returned to recent lows. Even so, the improvement is a relief considering rates had only just begun fighting back against a big move higher that happened ..[read more]

MBS MID-DAY: Holding Gains and Outperforming Treasuries
Mon, 30 Mar 2015 17:14:07 GMT

Posted To: MBS CommentaryThe first two days of this week stand a good chance to see the momentum driven not by the events that transpire, but by the trades that must be made before tomorrow night, regardless of the data. Of course traders can choose ..[read more]

Pending Home Sales Signal Strong Spring Market
Mon, 30 Mar 2015 14:59:16 GMT

Posted To: MND NewsWireContract signings in the Midwest and South in February drove pending home sales to their highest level in nearly two years. The National Association of Realtors® (NAR) said today that its Pending Home Sales Index (PHSI) ros..[read more]

Primer on Servicing's CPR Calculation; MBA Speaks Out
Mon, 30 Mar 2015 13:38:05 GMT

Posted To: Pipeline PressIn like a lion, out like a lamb? Usually folks say that about March's weather, not the economy. But economic data so far in the first quarter have pointed to an economy more like a lamb than a lion. There are a number of fact..[read more]

MBS Day Ahead: Long Term Rally Intact as NFP Approaches
Mon, 30 Mar 2015 11:34:16 GMT

Posted To: MBS CommentaryAs is often the case, this week has the dual distinction of hosting 'month-end' as well as nonfarm payrolls. Until recently, the ECB was almost always holding policy meetings on the Thursday of NFP weeks, thus adding ..[read more]

MBS RECAP: Bonds Catch a Break Heading into Quarter-End and NFP Week
Fri, 27 Mar 2015 20:55:31 GMT

Posted To: MBS CommentaryIt's that time again. Or, at least it will be next Friday. After 2 months in a row of painful NFP reactions in bond markets, the big jobs report is back again. The Fed has probably done some work toward decoupling rate-hi..[read more]

Mortgage Rates Hold Ground As Markets Take a Breather
Fri, 27 Mar 2015 20:21:00 GMT

Posted To: Mortgage Rate WatchMortgage rates had one of their least exciting days of the week today, moving just modestly lower from yesterday's latest levels. The trading range in underlying markets was exceptionally narrow, especially when compared..[read more]

Affordability Falling as Permits Lag Growth
Fri, 27 Mar 2015 18:48:59 GMT

Posted To: MND NewsWireThe old maxim that a household rents only until it can afford to buy a home is apparently being stood on its head in a lot of housing markets. A study published on Friday by Zillow says that "rental affordability is as bad as i..[read more]

MBS MID-DAY: Bonds Taking a Break from Volatility, Especially MBS
Fri, 27 Mar 2015 17:05:09 GMT

Posted To: MBS CommentaryWith the exception of only a few trades during a few minutes, Fannie 3.0 MBS prices have remained in a range of 101-28 to 101-29 this morning. That's super narrow! It's already resulting in a few "stability reprices" ..[read more]

More Agency Updates; Why Bank M&A is Expected to Continue in 2015
Fri, 27 Mar 2015 14:35:50 GMT

Posted To: Pipeline PressI love it when I receive an e-mail warning me, "You've had unusual and suspicious activity on your American Express Card." I don't have an American Express Card. Think your IT's security is up to speed? Think again - this e-m..[read more]

MBS Day Ahead: Is Today's GDP Reading Important?
Fri, 27 Mar 2015 11:34:00 GMT

Posted To: MBS CommentaryThere's been a lot of talk about GDP recently, but it's important to keep in mind that most of it has to do revised GDP estimates for the first quarter of 2015 due to some recently weak economic data. The thing being reported..[read more]

MBS RECAP: Another Day With Multiple Negative Reprices
Thu, 26 Mar 2015 20:51:38 GMT

Posted To: MBS CommentaryEver since bond markets failed to respond positively to yesterday morning's exceptionally weak Durable Goods report, things have been almost exclusively negative . That anomaly provided a clue that has since been convinci..[read more]

Mortgage Rates Increase Rapidly
Thu, 26 Mar 2015 19:51:00 GMT

Posted To: Mortgage Rate WatchMortgage rates rose rapidly today, almost completely erasing the improvement following last week's Fed Announcement. This is especially ironic considering most major media outlets are running Freddie Mac's weekly mortgag..[read more]

Monumental Shift Toward Non-Bank Servicing. Does it Matter?
Thu, 26 Mar 2015 16:28:29 GMT

Posted To: MND NewsWireIn the past five years there has been a monumental shift in mortgage loan servicing. Bank servicing subsidiaries, which once dominated in the market, no longer even constitute a majority of companies servicing Ginnie Mae mortga..[read more]

Home Price Plateau Possible in Areas Where Wages Can't Keep Up
Thu, 26 Mar 2015 16:13:01 GMT

Posted To: MND NewsWireWhile a study released on Thursday by RealtyTrac shows a huge discrepancy between the growth in home prices and increasing wages, it appears that housing in most of the country remains affordable. The California company looked ..[read more]

MBS MID-DAY: Bond Buyers on Strike for 2nd Straight Day
Thu, 26 Mar 2015 16:02:00 GMT

Posted To: MBS CommentaryIt's been a strange week for domestic bond markets so far. Just 2 short days ago, bonds were rallying with a seeming disregard for negative cues from related markets and data. Now, as of yesterday, the opposite is true as..[read more]

Agency Changes; Self-Employed Borrowers; Wells Layoffs; Training and Events
Thu, 26 Mar 2015 14:20:07 GMT

Posted To: Pipeline Press"ADT Security left a business card in my door. Their marketing would be much more effective if I found it inside my house." As I continue my time at the MBA and STRATMOR Peer Group Roundtables, learning what is effective, the..[read more]

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