The Rate Also Rises
Friday, August 7, 2020
Posted To: Mortgage Rate Watch Years from now when scientists examine mortgage rates in July 2020, they'd be forgiven for coming to the conclusion that rates only ever move lower. As we've learned in the first week of August, rates also rise. To be fair, there were a few days in July where more t... .. read more..
MBS RECAP: More Defensive After Jobs Report, But Not Necessarily Because of it
Friday, August 7, 2020
Posted To: MBS Commentary More Defensive After Jobs Report, But Not Necessarily Because of it The jobs report was hard-pressed to live up to its historical market movement potential this morning, but it did its best to surprise markets. Bonds reacted momentarily but quickly traded in the opposite... .. read more..
Homebuyer Sentiment Continues Previous Decline
Friday, August 7, 2020
Posted To: MND NewsWire Fannie Mae's Home Purchase Sentiment Index (HPSI) faltered a bit in July as it tried to recover from its 29.5-point aggregate plunge in March and April. The index, derived from six questions on the National Housing Survey (NHS), decreased 2.3 points in July to 74.2. Three ... .. read more..
Ops Jobs; Reverse, Training, VA Tools and Products; Ellie's $11 billion Sale ...
Friday, August 7, 2020
Posted To: Pipeline Press Let me get this straight. It’ll take a year or two for a cure for a virus that can be killed with hand sanitizer, soap, and hot water? COVID is driving our economy, driving headlines, driving working from home and managing employees working from home , and driving ... .. read more..
Another Wave of Forbearances is Probably On The Way
Friday, August 7, 2020
Posted To: MND NewsWire There was a significant decline in the number of active COVID-19 related forbearance plans over the past week, but that decrease did not necessarily mean homeowners were emerging from financial difficulties. Black Knight said its weekly survey found 101,000 fewer loans in ... .. read more..
MBS Day Ahead: Time For Non-Farm Payrolls, A Report That Used To Matter
Friday, August 7, 2020
Posted To: MBS Commentary No other piece of scheduled monthly economic data has a better track record of influencing the bond market than nonfarm payrolls. There are stretches of multiple consecutive months where it has arguably been responsible for setting the trading tone for the entire month. ... .. read more..
Most Mortgage Rate Headlines Are Wrong Today
Thursday, August 6, 2020
Posted To: Mortgage Rate Watch There are quite a few more new stories than normal about mortgage rates today. Most of them are wrong. This one is not, and it's pretty easy to see why. Freddie Mac releases its weekly mortgage rate survey every Thursday morning. The survey accepts responses from Mo... .. read more..
MBS RECAP: Bonds Generally Consolidating Ahead of Jobs Report
Thursday, August 6, 2020
Posted To: MBS Commentary Bonds Generally Consolidating Ahead of Jobs Report MBS were higher today, but for the week as a whole, they've been flat (and right in line with last Friday's levels as of this afternoon). That doesn't seem like a coincidence based on tomorrow's jobs repo... .. read more..
Foreign Buyers are Pumping the Brakes on Home Purchases
Thursday, August 6, 2020
Posted To: MND NewsWire Foreign buyers cut back their investment in U.S. residential properties over the 12 months that ended in March. It was the second year-over-year decline. The National Association of Realtors® (NAR) annual survey among its members about their transactions with internati... .. read more..
MBS Day Ahead: Slow, Steady Rally Wasting No Time Reasserting Itself
Thursday, August 6, 2020
Posted To: MBS Commentary Yesterday's bond market weakness prompted a conversation about the limits of the current rally. It went a little something like this (<----that's a link you can click). For the non-link-clickers out there, here's a recap: Bonds have been in a clearly-defin... .. read more..
LO Jobs; Risk Tool; Webinars and Training; Servicing and MSR Update; Rates Co...
Thursday, August 6, 2020
Posted To: Pipeline Press Originators and lenders are having a great summer from income and profitability perspectives. The thick margins are making managers look like champs, arguably covering up other issues that would normally be corrected. Rocket, the parent company of largest US mortgage pro... .. read more..
Rates End 6-Day Streak at Record Lows
Wednesday, August 5, 2020
Posted To: Mortgage Rate Watch Mortgage rates cooled off today, rising for the first time since July 27th for the average lender. Between now and then we've seen a string of what have mostly been new record lows with top tier 30yr fixed offerings well under 3%. For more on what constitutes a "top... .. read more..
MBS RECAP: Is The Rally Meeting Resistance or Just Consolidation?
Wednesday, August 5, 2020
Posted To: MBS Commentary Is The Rally Meeting Resistance or Just Consolidation? With modest overnight weakness and a small negative reaction to this morning's headlines (ADP and Treasury issuance), bonds may be encountering some more resistance on their journey toward lower yields and higher... .. read more..
Maybe Home Prices Aren't in Trouble After All?
Wednesday, August 5, 2020
Posted To: MND NewsWire Home prices increased in June at the fastest pace in more than seven years. CoreLogic said its Home Price Index (HPI) rose 1.0 percent from May, the largest month-over-month gain since January 2013. The appreciation from April to May was 0.7 percent. Prices rose year-over-... .. read more..
MBS Day Ahead: Bond Rally Running Out of Steam or Just Consolidating?
Wednesday, August 5, 2020
Posted To: MBS Commentary With modest overnight weakness and a small negative reaction to this morning's headlines (ADP and Treasury issuance), bonds may be encountering some more resistance on their journey toward lower yields and higher prices. Is this a meaningful signal or just incidental... .. read more..