MBS RECAP: Just When You Thought The Ceiling Was a Ceiling
Friday, July 20, 2018
Posted To: MBS Commentary Undoubtedly, yesterday's bond trading sent a clear message that a technical ceiling near 2.88% was met with strong defense from traders who bought bonds and pushed yields back down into the recent range. Color all of us shocked, then, that today saw yields promptly r... .. read more..
Mortgage Rates Behind the Curve For 2nd Straight Day
Friday, July 20, 2018
Posted To: Mortgage Rate Watch Mortgage rates improved today but it was largely a byproduct of yesterday's market movement that didn't make it onto lenders' rate sheets at the time. Mortgage lenders set rates based on trading levels in mortgage backed securities or MBS (the bonds that groups of m... .. read more..
NAHB Sees Lopsided Growth in Housing Starts
Friday, July 20, 2018
Posted To: MND NewsWire In another dive into data from the Census Bureau's Survey of Construction (SOC), the National Association of Home Builders (NAHB) found that one third of the nine census divisions and thus 21 states were responsible for 60 percent of single family housing starts last year.... .. read more..
Fannie Sees Growth Slowing, Turns Bearish on Housing
Friday, July 20, 2018
Posted To: MND NewsWire Fannie Mae's economists have upgraded their second quarter economic forecast but say that may be about it for the year . In their July forecast, the company's Economic & Strategic Research (ESR) Group, headed by Doug Duncan, noted that the expansion just celebrated its... .. read more..
MBS Day Ahead: Back in The Range, But Yield Curve Could Protest
Friday, July 20, 2018
Posted To: MBS Commentary 10yr yields attempted to break above their prevailing range yesterday. As we discussed in the Day Ahead, it takes more than just an intraday move above a ceiling in order to confirm such a break is taking place. Ultimately, yesterday's theme evolved into a resounding... .. read more..
Flood, Volcano, Hurricane, and Disaster News; Lender Updates
Friday, July 20, 2018
Posted To: Pipeline Press A Small Business Administration analysis found that about 90 percent of the country’s damage costs from natural disasters happen in ZIP codes with less than 20 percent of the country’s population. If you’re in the mood to see what that looks like on a m... .. read more..
MBS RECAP: Key Technical Ends Up Providing Support
Thursday, July 19, 2018
Posted To: MBS Commentary If you are an MBS Live member, today's recap has already been written in this update and in The Huddle . Non-MBS Live members can get a pretty solid idea from the free mortgage rate article HERE . For those who don't like to click links, suffice it to say that th... .. read more..
Mortgage Rates Back to Flat After Starting Higher
Thursday, July 19, 2018
Posted To: Mortgage Rate Watch Mortgage rates had a scare today, as they began the day at their highest levels of the month (depending on the lender) only to fall back in line with yesterday (or better!). The reason for the back-and-forth movement has to do with esoteric behind-the-scenes stuff i... .. read more..
Libor - Not Exactly an Obituary, But...
Thursday, July 19, 2018
Posted To: MND NewsWire A group of financial experts is scheduled to meet at on Thursday to make funeral arrangements for Libor . In case you hadn't heard, the London interbank offered rate, the number that indicates how much one bank needs to borrow from another, is not expected to survive much ... .. read more..
FHFA Ruled Unconstitutional, but Net Sweep Prevails
Thursday, July 19, 2018
Posted To: MND NewsWire Yet another federal court has rebuffed shareholders hoping to recover some value from their investments in the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. A three-judge panel for the Fifth Circuit (Texas) Court of Appeals refused to stop the practic... .. read more..
MBS Day Ahead: What Happens If Bonds Break This Ceiling? (Philosophical Discu...
Thursday, July 19, 2018
Posted To: MBS Commentary This primer (and this one , and this one ) will be useful for digesting the following, if you haven't read it before. For those paying any sort of attention to trading levels in bond markets over the past few weeks, it's hard to miss the super narrow range betwee... .. read more..
LO Training and Conferences; Teams With Different Comp Plans?
Thursday, July 19, 2018
Posted To: Pipeline Press “Rob, are you hearing, now that the CFPB is perceived to have lost its teeth, that some lenders are providing their loan officers two different rate sheets?” Unfortunately, yes, I am hearing that, but hopefully it is an untrue rumor. It would certainly fly in... .. read more..
Purchase Share and Interest Rates Creep up, Hit New Ellie Mae Highs
Thursday, July 19, 2018
Posted To: MND NewsWire The share of closed loans for home purchases ticked up another point in June, to 71 percent. While Ellie Mae has only tracked data since 2011, this represents a new high for those loans in the company's Origination Insight Report. The purchase share was also up 1 point for... .. read more..
MBS RECAP: Bonds Back at Range Boundary
Wednesday, July 18, 2018
Posted To: MBS Commentary After holding the same sideways range since June 27th, 10yr Treasury yields finally knocked on the 2.88+ ceiling for the 2nd time (the previous attempt being July 3rd). But that's about as exciting as I can make today sound. The overall move higher in yields was less... .. read more..
Mortgage Rates Flat Again, Despite Modest Market Weakness
Wednesday, July 18, 2018
Posted To: Mortgage Rate Watch Mortgage rates were flat again today, further prolonging a trend that's been in place for weeks. During that time, we've seen modest ups and downs, but no significant changes. To put the narrowness of the range in context, the "ups and downs" are only seen in the up... .. read more..