Mortgage Rates Moving Higher
Tuesday, October 20, 2020
Posted To: Mortgage Rate Watch It began last week. It was subtle--so subtle as to pass largely unnoticed. But the gentle drift toward slightly higher rates has taken bigger steps so far this week. As of this afternoon, the average lender is quoting the highest rates since late September! That's q... .. read more..
MBS RECAP: Bearish Bond Trend Continues
Tuesday, October 20, 2020
Posted To: MBS Commentary Bearish Bond Trend Continues Looking back at MBS or Treasuries over the past few weeks reveals a clear termination of a rally trend at the end of September and a similarly well-established bearish trend throughout October. Treasury yields are the highest since early June... .. read more..
Calabria to Seek Input on Future Fannie/Freddie Policies
Tuesday, October 20, 2020
Posted To: MND NewsWire Mark Calabria, director of the Federal Housing Finance Agency (FHFA) used the annual convention and expo of the Mortgage Bankers Association to announce changes in the agency's requirements for certain operations of the government sponsored enterprises (GSEs) Fannie Mae an... .. read more..
Looks Like Residential Construction is Back on Track
Tuesday, October 20, 2020
Posted To: MND NewsWire Residential construction resumed its upward trend after a brief pause in August. The U.S. Census Bureau and Department of Housing and Urban Development reported that all three measures of construction, permitting, housing starts, and unit completions, increased in Septembe... .. read more..
MBS Day Ahead: Bond Bears Asking Yet Again, Is Now a Good Time For a Breakout?
Tuesday, October 20, 2020
Posted To: MBS Commentary It was fun and easy to get caught up in (or spoiled by) the recent ultra-narrow range in the bond market. The boundaries of that range were .62 and .72. It lasted for roughly 2 months with one brief exception for a failed breakout attempt, which is nothing short of impre... .. read more..
MLO Jobs; Training, Servicing, Tech, Broker Tools; Events and Training; Fredd...
Tuesday, October 20, 2020
Posted To: Pipeline Press For all you Romans out there, happy X/XX/XX. As we sail through October, are these the best quarters to be an originator, or a lender, ever? Yes. If you believe Fannie Mae, annual mortgage originations are likely to top $4.1 trillion for the first time ever, as there wil... .. read more..
Mortgage Rates Flat to Begin The Week--Still Not At All Time Lows
Monday, October 19, 2020
Posted To: Mortgage Rate Watch For some unknown reason, there were additional articles over the weekend touting " all-time low mortgage rates." Underpinning these alleged rates is primary data that was released on Wednesday and Thursday last week. In short, the two weekly survey-based mortgage ra... .. read more..
MBS RECAP: Bond Market Modestly But Disappointingly Weak Despite Stock Sell-Off
Monday, October 19, 2020
Posted To: MBS Commentary Bond Market Modestly But Disappointingly Weak Despite Stock Sell-Off Bonds started out weaker and looked like they might make a recovery in the afternoon thanks to a big stock sell-off. But yields refused to move back below the .76% pivot point. That's not the end of... .. read more..
Home Purchase Demand Still Strong, but Slowing Down
Monday, October 19, 2020
Posted To: MND NewsWire While applications for new home purchase mortgages jumped in September, the Mortgage Bankers Association (MBA) expects only modest changes in the September sales data. MBA's Builder Application Survey (BAS) data shows mortgage applications for new home purchases increased ... .. read more..
MBS Week Ahead: Light Week For Data, But Plenty of Threats
Monday, October 19, 2020
Posted To: MBS Commentary Pressure is mounting for the bond market. After a period of intensely calm, narrow trading throughout September, 10yr yields quickly moved to challenge recent range boundaries heading into October. There are known risks on the horizon, with the presidential election and ... .. read more..
Builder Confidence Sets a New Record Once Again
Monday, October 19, 2020
Posted To: MND NewsWire For only the second time in its 35-year history, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) topped 80 this month. The first time was in September. The index, a measure of builder confidence in the market for newly built single-f... .. read more..
Second Homes, Widespread but Few in Number
Monday, October 19, 2020
Posted To: MND NewsWire There were approximately 7.5 million second homes in the U.S. in 2018, the most recent year for which data is available. This is 5.5 percent of the nation's total housing stock. Na Zhao, writing in the National Association of Home Builders (NAHB's) Eye on Housing blog, say... .. read more..
Compliance, AE, MLO Jobs; Marketing, Broker, Servicing Products; Online Discl...
Monday, October 19, 2020
Posted To: Pipeline Press Fifteen days until the election! How many days would it take you, or the company that employs you, to save up $11 million? In my discussions with CEOs, they are more concerned about how the election may impact the future regulatory environment than interest rates. I ment... .. read more..
Low Rates Will Face More Volatility Risk in Coming Weeks
Friday, October 16, 2020
Posted To: Mortgage Rate Watch Yesterday, we discussed why rates are not actually at all-time lows. But rates are whatever they are. They're relation to previous lows doesn't really matter at the end of the day. Do you benefit from refinancing? Can you afford your new purchase payment? Great! Don... .. read more..
MBS RECAP: MBS Defy Odds as Bond Bulls Fail For 3rd Straight Day
Friday, October 16, 2020
Posted To: MBS Commentary MBS Defy Odds as Bond Bulls Fail For 3rd Straight Day After failing back to back attempts to retake the recent sub-.72 range, 10yr yields didn't even try today. Part of the problem was a stronger Retail Sales report this morning, which had a surprisingly clear impact... .. read more..