Mortgage Rates Improve on 7-Week Lows
Thursday, April 22, 2021
Posted To: Mortgage Rate Watch Mortgage rates fell to the lowest levels since March 2nd or 3rd (depending on the lender) yesterday and today they fell just a bit more. Most borrowers will see the exact same rate quotes as yesterday, but a few will have slightly lower upfront costs (or higher lend... .. read more..
MBS RECAP: Forget the ECB; Taxes Saved Bonds Today
Thursday, April 22, 2021
Posted To: MBS Commentary Forget the ECB; Taxes Saved Bonds Today First off, bonds didn't really need "saving." They were only modestly weaker to start the day and didn't lose too much more ground from there. The first rally arrived after ECB Pres Lagarde finished her press conf... .. read more..
Most Builders Locking in Lumber Prices or Passing Increases Through
Thursday, April 22, 2021
Posted To: MND NewsWire For months, the National Association of Home Builders (NAHB) has been citing lumber prices as one of the headwinds faced by new home builders as they try to pick up the pace of construction. Those prices nearly doubled over a four-month period in 2020, reaching an all-time... .. read more..
March Delinquency Drop Probably Exaggerated by Events
Thursday, April 22, 2021
Posted To: MND NewsWire Black Knight's "first look" at loan performance data in March brought back memories of an old TV ad, "Is it real or is it Memorex?" The company said that mortgage delinquencies were down during the month by a whopping 16.4 percent. The company is quick to note that the app... .. read more..
Corresp., MLO, Ops Jobs; Retention, Servicing, Construction-to-Perm Products;...
Thursday, April 22, 2021
Posted To: Pipeline Press Not you, of course, but many other people in our biz are elderly. Sure you haven’t seen them in person in a year, but they’re there. Or they have elderly parents. Heck, is “elderly” a bad word now? Seriously, I hope everyone reading this has a lon... .. read more..
MBS Day Ahead: Bonds Happy With European Central Bank Stance
Thursday, April 22, 2021
Posted To: MBS Commentary Today's only real significant market mover is/was the ECB Announcement and press conference. They weren't expected to change policy, but markets were curious to get ECB Pres Lagarde's take on bond buying. In short, the bank remains strongly committed to the o... .. read more..
Mortgage Rates Match 7-Week Lows
Wednesday, April 21, 2021
Posted To: Mortgage Rate Watch Last Thursday was the best day for mortgage rates in more than a month, and while they bounced back up on Thursday afternoon, they've been falling modestly since then. Yesterday got us close to last Thursday's lows. Today helped us match them. That means today's rat... .. read more..
MBS RECAP: 4th Straight Day Inside Last Thursday's Range
Wednesday, April 21, 2021
Posted To: MBS Commentary 4th Straight Day Inside Last Thursday's Range Last Thursday was the best rally day we've seen in months and it took yields to their lowest levels since early March. Against that backdrop, it seems like a sort of victory to be able to remain inside Thursday's ... .. read more..
MBS Day Ahead: Are Bonds Positioning For Stock Market Weakness?
Wednesday, April 21, 2021
Posted To: MBS Commentary There are no major events on the econ calendar today and no compelling market movers in play so far this week--at least not for bonds. Stocks, on the other hand, have earnings season as well as yet another moment to reflect on whether valuations have growth frothy enough... .. read more..
AE, MLO, Ops Jobs; Subservicing, Jumbo, Sales Products; MLO to Broker Trainin...
Wednesday, April 21, 2021
Posted To: Pipeline Press Over the weekend I visited a gas station, and the fellow in the kiosk had a name tag with, “Tim, Fuel Leader” inscribed on it. I will leave making fun of the title to you, but seeing him in there made me wonder how much interaction and collaboration he has wi... .. read more..
Mortgage Applications End Losing Streak
Wednesday, April 21, 2021
Posted To: MND NewsWire Mortgage application volume broke out of a six-week slump in a big way during the week ended April 16. The Mortgage Bankers Association said its Market Composite Index, a measure of that volume, jumped 8.6 percent on a seasonally adjusted basis and was 9 percent higher on ... .. read more..
Mortgage Rates Back Near Lowest Levels in Weeks
Tuesday, April 20, 2021
Posted To: Mortgage Rate Watch Mortgage rates hit their lowest levels in more than a month last Thursday, but reversed course later that afternoon. With that, it looked like rates would continue settling in to a sideways range for April (not a bad outcome considering the abrupt rate spike seen in... .. read more..
MBS RECAP: Decent Day For Bonds as Stocks Sell
Tuesday, April 20, 2021
Posted To: MBS Commentary Decent Day For Bonds as Stocks Sell A good, old-fashioned "risk-off" rally has been hard to come by in 2021, but that's arguably what we saw today. Whether investors were shedding stocks due to broad economic/pandemic risks, corporate earnings, or some othe... .. read more..
UI Says HARP 2.0 Could Help Pandemic-Era Borrowers
Tuesday, April 20, 2021
Posted To: MND NewsWire The Urban Institute (UI) is advocating for a streamlined refinancing program similar to the Home Affordable Refinance Program (HARP) which aided many homeowners during the Great Recession to assist those impacted by the pandemic. HARP, which was used by more than 3.4 milli... .. read more..
Training, AE jobs; Pricing, Risk Mgt., Dashboard Tools; Servicing Package for...
Tuesday, April 20, 2021
Posted To: Pipeline Press Whenever I ask my cat Myrtle about her opinion of the Consumer Finance Protection Bureau, she remains mum. But the CFPB has been in the press lately. Servicers are girding their loins and making sure their portfolio clients are being handled per rules and regulations. Ye... .. read more..