Steve Petersen

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Real Estate News
New Products; Capital Markets Changes; Credit Default Swap News
Tue, 06 Oct 2015 14:22:47 GMT

Posted To: Pipeline PressIt is not an issue of "if", but "when". The ABA said it suffered a cyberattack of its online shopping cart and at least 6,400 user records had been stolen and posted online (including email addresses and passwords used to mak..[read more]

MBS Day Ahead: Going Gets Tougher For Bonds
Tue, 06 Oct 2015 11:33:32 GMT

Posted To: MBS CommentaryThat disturbance you might have felt in the force--that's the high-conviction shift in both stocks and bonds. Whereas both had been defying the consensus (bonds by improving and stocks--to a lesser extent--by failing to &..[read more]

MBS RECAP: Running Out of Ways to Say "Post-NFP Knee-Jerk."
Mon, 05 Oct 2015 21:06:59 GMT

Posted To: MBS CommentaryHere it is the end of Monday and markets are still stuck on the same old thoughts and strategies that existed last week even before the NFP release. At the time, traders were feeling like the bond rally had already shown perp..[read more]

Mortgage Rates Erase Friday's Strong Move Lower
Mon, 05 Oct 2015 19:52:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved substantially higher today in the context of recent day-to-day changes. In the broader context, we're still talking about 30yr fixed rates that have remained in the "high 3's" for over a week now. It..[read more]

Student Loan Debt, Homeownership, And Millennials. It's Complicated.
Mon, 05 Oct 2015 18:23:50 GMT

Posted To: MND NewsWireOnce the recession ended and unemployment, which had especially impacted Millennials, returned to normal levels, that age group was expected to increase the homeownership rate . Instead, even as a larger chunk of that generatio..[read more]

Surprise! More Home Equity = More Cash-Out Refinances
Mon, 05 Oct 2015 17:43:28 GMT

Posted To: MND NewsWireWhile they aren't doing it at nearly the rate they did before the Great Recession, Americans are increasingly tapping the equity in their homes with cash-out refinancing. Black Knight Financial Services says in its latest Mortg..[read more]

MBS MID-DAY: Slightly Weaker but Outperforming Treasuries
Mon, 05 Oct 2015 17:05:55 GMT

Posted To: MBS CommentaryFor lack of a better way to explain it, Friday's post-NFP rally was like a final, glorious charge into enemy territory. Bond markets had already pushed a bit farther than they were likely to push, and had kept up the figh..[read more]

Upcoming Events and Training; TRID Implementation Facts and Rumors
Mon, 05 Oct 2015 13:08:50 GMT

Posted To: Pipeline Press"Well I know a pretty little place in Southern California, down San Diego way. There's a little café, where they play guitars all night long babe, you can hear them in the back room strumming..." With another national ..[read more]

MBS Day Ahead: Mixed Messages From Bonds? Perhaps Not
Mon, 05 Oct 2015 11:33:52 GMT

Posted To: MBS CommentaryFriday's NFP reaction was fun, and then perhaps a bit painful. The data itself was abhorrent--coming in weaker in every imaginable way and without any saving graces. By that time--8:30am on Friday morning--bond markets ha..[read more]

MBS RECAP: Volatile Bond Markets Following NFP's "Big Miss"
Fri, 02 Oct 2015 23:05:39 GMT

Posted To: MBS CommentaryBond markets experienced a quintessentially volatile reaction to a classic example of a "big miss" in the NFP data . As we've discussed several times already today, there was nothing positive about the data. In fact, my initi..[read more]

Mortgage Rates Remain Lower After Volatile Reaction to Jobs Data
Fri, 02 Oct 2015 17:55:00 GMT

Posted To: Mortgage Rate WatchMortgage rates had a wild day today . If you've spoken to a mortgage originator about rates any time in the past 24 hours, it's important to understand just how immense the swings have been. Let's start with the good new..[read more]

MBS MID-DAY: Big Bond Rally After Terrible NFP. Now Trying to Hold Gains
Fri, 02 Oct 2015 16:05:27 GMT

Posted To: MBS CommentaryIf you haven't heard by now, today's main event--Nonfarm Payrolls, or officially, 'The Employment Situation'--was significantly weaker than expected. It wasn't the sort of NFP that can be explained away wi..[read more]

Hoped-For TRID Leniency Won't Stop Lawsuits; Banks Declining; MI Updates; Rates Decline on Job Data
Fri, 02 Oct 2015 14:32:27 GMT

Posted To: Pipeline PressTRID arrives tomorrow, put into business practice on Monday. And the industry wonders if, since under the Dodd-Frank financial reform law the CFPB can impose civil money penalties of $5,000 per day per violation, $25,000 per ..[read more]

MBS Day Ahead: Bond Markets an Underdog Heading Into NFP
Fri, 02 Oct 2015 11:33:18 GMT

Posted To: MBS CommentaryBy all rights, yesterday was the day that should have seen domestic bond markets consolidate recent gains and take a breather ahead of this week's NFP data. The session even began that way but European markets had other p..[read more]

MBS RECAP: Bond Markets Fade to Unchanged After Strong Morning
Thu, 01 Oct 2015 20:40:33 GMT

Posted To: MBS CommentaryThe headline is the recap today. If an hour of the day ended with an "AM," it was good for bond markets today. The only exception would be the midnight-2am time frame. So the rallying hours were really 2am through Noon easter..[read more]

Mortgage Rates Lowest Since April Ahead of Big Jobs Report
Thu, 01 Oct 2015 20:02:00 GMT

Posted To: Mortgage Rate WatchMortgage rates can seemingly do no wrong this week. They fell again today--this time making it firmly into territory not seen since late April. At current levels, many lenders have moved on to quoting conventional 30yr f..[read more]

MBS MID-DAY: Big Move in Europe Helps Bonds Hold Gains
Thu, 01 Oct 2015 17:13:07 GMT

Posted To: MBS CommentaryTreasury yields and equities began the overnight session moving higher after stronger manufacturing data in China. Treasuries managed to hold their ground while stocks continued higher. The onset of the European trading sessi..[read more]

Special TRID edition of Borrower Do's and Don'ts
Thu, 01 Oct 2015 15:58:23 GMT

Posted To: Community CommentaryWe've previously explored homebuyers' "Do's and Don'ts" and uncovered some vital tips that help or hinder the home buying process. In today's special edition, we examine hints for successfully coping with TRID (the new ..[read more]

Wages and Rates Buoy Affordability Amid Rising Home Prices
Thu, 01 Oct 2015 15:47:46 GMT

Posted To: MND NewsWireEven though home prices have increased in a more or less uninterrupted pattern since early 2012 a joint report form RealtyTrac and Clear Capital puts buying a home in the first quarter of 2015 at the most affordable level in tw..[read more]

Construction Spending Flat; Residential Sector Slightly Less so
Thu, 01 Oct 2015 15:30:48 GMT

Posted To: MND NewsWireThere was a small increase in both publicly and privately funded construction spending in August. Privately funded residential spending performed slightly better than construction as a whole but that increase was largely due to..[read more]

Lending to Asian Americans; MBS Issuance Numbers; Lender Receives $1 Billion in Funding
Thu, 01 Oct 2015 13:59:06 GMT

Posted To: Pipeline PressToday I am in transit to Virginia Beach for the VMLA Annual Convention , October 1-2. How did we end up in October already? Certainly the seasons are in transit: Anchorage, Alaska, where snows are already happening, is losing..[read more]

MBS Day Ahead: Now that Month-End is Over, Are Bonds Destined to Pull Back?
Thu, 01 Oct 2015 02:54:00 GMT

Posted To: MBS CommentaryMonth/quarter-end buying was an important part of this week's strength through Wednesday. It served as sort of a constant, mildly positive force helping keep yields anchored despite an attempt at a bounce in equities markets...[read more]

MBS RECAP: Bonds End Month at Best Levels
Wed, 30 Sep 2015 21:21:55 GMT

Posted To: MBS CommentaryIn day-over-day terms, the 1-2bps gain in 10yr yields and the 3-5 ticks improvement in MBS prices don't seem overly impressive. But if we consider that each of the past 3 days has seen 10yr yields close at the best levels..[read more]

Mortgage Rates Approaching 5-Month Lows
Wed, 30 Sep 2015 19:34:00 GMT

Posted To: Mortgage Rate WatchMortgage rates had another great day , with most lenders maintaining or improving upon yesterday's 4-month lows. Given that we'd have to go back to May 8th, 2015 to see better rates, we're very close to '5-month lows.' I..[read more]

MBS MID-DAY: Bonds Basking in Month-End Glow
Wed, 30 Sep 2015 17:13:44 GMT

Posted To: MBS CommentaryThe overnight session began with bond markets moving into weaker territory against the backdrop of a recovery in equities. There was clearly a lot of month-end buying yesterday, so it was fair to wonder if the sponsorship wou..[read more]

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