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MBS RECAP: Bonds Weaker as Supply Weighs
Wed, 26 Oct 2016 21:41:31 GMT

Posted To: MBS CommentaryBonds were stronger during Asian market hours this morning, but things changed quickly as European trading got underway. Relative to Treasuries, European bond markets blasted toward higher yields fairly quickly. Blame can be ..[read more]

Mortgage Rates (And Uncertainty) Remain High
Wed, 26 Oct 2016 20:37:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates didn't move much today, with most lenders just slightly higher than yesterday. This keeps us right in line with the highest levels in more than 4 months. For the sake of perspective, outside the past 4 mon..[read more]

New Home Sales Relatively Strong, Despite Downward Revision
Wed, 26 Oct 2016 14:49:53 GMT

Posted To: MND NewsWireNew home sales resumed their upward march in September, rising above August sales which had retreated significantly from a near decade-long high of 629,000 units set in July. The Census Bureau and Department of Housing and Urba..[read more]

Bank M&A; FHA & VA Updates; Re/Max Rolls Out New Mortgage Company
Wed, 26 Oct 2016 13:42:32 GMT

Posted To: Pipeline PressIt is well documented that “women spend more time wondering what men are thinking than men spend thinking.” Lemon Drops move over! (For those of you who don’t know, the Lemon Drops are an informal group of m..[read more]

MBS Day Ahead: Trend Remains Unfriendly, But MBS Outperform
Wed, 26 Oct 2016 13:37:29 GMT

Posted To: MBS CommentaryLast week provided some hope for bond markets due to a relatively strong move off the recent highs. 10yr yields recovered from the previous week's 1.80% closing level to 1.73% a week later. Granted, that's not a huge ..[read more]

Declining Purchases Lead Mortgage Apps Lower
Wed, 26 Oct 2016 12:12:49 GMT

Posted To: MND NewsWireMortgage applications declined on a seasonally adjusted basis during the week ended October 21 compared to the week ended October 14. The results for the earlier week included an adjustment to account for the Columbus Day holid..[read more]

MBS RECAP: Surprisingly Informative Despite Boring Facade
Tue, 25 Oct 2016 20:58:54 GMT

Posted To: MBS CommentaryOn the surface, today was a boring day for bond markets. 10yr yields ended less than a bp lower than yesterday's close and Fannie 3.0 MBS were completely unchanged. But as far as gleaning information, it wasn't a tota..[read more]

Mortgage Rates Stuck at Highs For Now
Tue, 25 Oct 2016 20:05:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were unchanged in many cases today, with a handful of lenders inconsequentially better or worse versus yesterday's latest offerings. Despite moving lower on 4 out of the past 6 days, rates were never able ..[read more]

FHFA, Case-Shiller Agree: Price Appreciation Staying Strong
Tue, 25 Oct 2016 15:05:38 GMT

Posted To: MND NewsWirePrice gains accelerated in August, rising more year-over-year than they did in July according to data released today by both the Federal Housing Finance Agency (FHFA) and S&P CoreLogic Case-Shiller. The Case-Shiller U.S. Nation..[read more]

Fannie and Freddie Updates From The Conference; Trends in HELOCs & eClosings
Tue, 25 Oct 2016 13:57:57 GMT

Posted To: Pipeline PressThe annual mortgage conference is in full swing, and I am sure that reports of “ 10 vendors for every 1 residential lender ” are exaggerated. Well, maybe not. That aside, for tens of thousands of years, homo sapie..[read more]

MBS Day Ahead: What do Recent Moves Tell us About Market's Focus?
Tue, 25 Oct 2016 13:37:22 GMT

Posted To: MBS CommentaryAt the risk of repeating a common refrain, rates have been rising gradually since July and in a more volatile way since early September. I've chalked up a fair amount of that volatility to anxiety over the potential Europ..[read more]

MBS RECAP: Straightforward Sell-Off, Even if From an Unexpected Source
Mon, 24 Oct 2016 21:34:02 GMT

Posted To: MBS CommentaryBond markets ended the day in moderately weaker territory today, despite starting out in the Green. What happened? Today was refreshingly straightforward when it comes to attributing market movement to overt, logical sources...[read more]

Mortgage Rates Unable to Keep Winning Streak Alive
Mon, 24 Oct 2016 20:43:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates bounced slightly higher for the first time in more than a week today, thus remaining in limbo near the highest levels in more than 4 months. On a positive note, recent movements have been small, with no ch..[read more]

Fannie and Freddie Lowering Underwriting Barriers
Mon, 24 Oct 2016 18:46:58 GMT

Posted To: MND NewsWireFannie Mae and Freddie Mac each announced what appear to be essentially identical changes in their loan underwriting programs - Fannie calls its new offering "Day 1 Certainty" while Freddie was less poetic, referring simply to ..[read more]

MBA President Calls for Housing Reset, Lays Out Strategies
Mon, 24 Oct 2016 18:32:36 GMT

Posted To: MND NewsWireIn unusually personal prepared remarks, David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA) told members gathered at the association's Annual Convention and Expo in Boston that he has "been battling an..[read more]

Mid-Sized Bank Earnings; Conforming News; Genworth Financial Finds An Overseas Buyer
Mon, 24 Oct 2016 13:40:25 GMT

Posted To: Pipeline PressAre you wearing an Apple watch to that important business meeting? Maybe you shouldn’t , unless you don’t mind people listening in . How much does it cost to defend yourself against a Department of Justice lawsuit..[read more]

MBS Day Ahead: ECB Rain Check Raises Questions For Short-Term Rate Trend
Mon, 24 Oct 2016 13:33:59 GMT

Posted To: MBS CommentaryRates and yields have been trending steadily higher since hitting all-time lows in early July. Those lows were most immediately attributable to the Brexit reaction, and thus the initial bounce back toward higher rates wasn..[read more]

MBS RECAP: Inconsequential Volatility Inside a Range
Fri, 21 Oct 2016 20:38:55 GMT

Posted To: MBS CommentaryBonds began the day roughly unchanged and rallied in the morning hours along with European bond markets. Most of the volume was in before 9:45 and the remainder of the day's trading took place inside the range set during ..[read more]

Mortgage Rates Unchanged at 2-Week Lows
Fri, 21 Oct 2016 19:23:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates held steady today, continuing a much-needed break from the move higher that dominated the first 2 weeks of October. While we've only seen modest improvements (or in today's case, a mere absence of deterior..[read more]

Housing and Economy Probably Heading Downhill - Freddie Mac
Fri, 21 Oct 2016 14:51:58 GMT

Posted To: MND NewsWireDeja vu all over again? Freddie Mac says economic growth is recovering from a weak first half of the year, the labor market is holding steady and Fed watchers are concluding that a rate hike will come in December; worldwide eco..[read more]

Starter Home Drought Leaves First Time Buyers Thirsty
Fri, 21 Oct 2016 14:40:26 GMT

Posted To: MND NewsWireHousing industry players have decried the absence of first-time homebuyers and the negative impact they have had on the housing recovery. Fannie Mae's Economic and Strategic Research team, in the most recent edition of Housing ..[read more]

Fannie to Address Reps/Warrants; Ginnie and Streamline Refis; Credit Union Attorney Fees
Fri, 21 Oct 2016 14:11:01 GMT

Posted To: Pipeline PressAs thousands of folks prepare to head to Boston for the MBA’s conference, they may be asking, “What’s in my wallet?” Maybe a little less. The average cost of an out-of-network ATM fee in the U.S. is $4..[read more]

MBS Day Ahead: Bond Bulls Hope For November Truce
Fri, 21 Oct 2016 14:04:47 GMT

Posted To: MBS CommentaryAs can be seen in this morning's chart (and remembered in the hearts and minds of loan originators who closely follow market movements), October has been our least favorite months of the year. September wasn't much be..[read more]

MBS RECAP: ECB Takes a Pass. Bonds Do Nothing
Thu, 20 Oct 2016 20:44:45 GMT

Posted To: MBS CommentaryToday was pretty anticlimactic . Most of my analysis is already available in the Day Ahead . If you're not the link-clicking type, it basically says that the ECB seems set to announce "something" in December. Perhaps that..[read more]

Mortgage Rates Lowest in Nearly 2 Weeks
Thu, 20 Oct 2016 19:59:00 GMT

Posted To: Mortgage Rate WatchMortgage Rates were lower again today, after the European Central Bank (ECB) avoided sending any scary signals about tapering its asset purchases. Much like the Fed conducted quantitative easing (QE) in the US by buying ..[read more]

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