MBS RECAP: Best Week For Bonds in a Year
Friday, May 25, 2018
Posted To: MBS Commentary When you pay the sort of price we paid last week (in terms of rates surging to 7-year highs), you expect to get something reasonably nice in return. This, then, is our recompense. In terms of ground covered, it was the best week we've had since April 2017. An unresol... .. read more..
Mortgage Rates Hit Holiday Weekend at Recent Lows
Friday, May 25, 2018
Posted To: Mortgage Rate Watch Mortgage rates moved much lower this week with another strong move today. As we discussed yesterday, this is certainly at odds with the prevailing news coverage, which continues to focus on yesterday's Freddie Mac survey. Here's a link to yesterday's article, or you... .. read more..
Homebuyers Battle the Trifecta: Rates, Inventory, and Prices
Friday, May 25, 2018
Posted To: MND NewsWire The May edition of Freddie Mac's monthly Outlook , produced by its Economic & Housing Research Group, is focused on the resiliency of the American homebuyer . It notes that, "Through the first five months of 2018, home shoppers have battled the trifecta of climbing hom... .. read more..
MBS Day Ahead: How did Such a Good Week Happen?
Friday, May 25, 2018
Posted To: MBS Commentary If you'd just had your worst week in 7 years, it's always nice if the next could be markedly different. That's the case for bond markets this week, assuming nothing outrageous happens for the rest of the day. In fact, if markets closed right now, this week... .. read more..
Jumbo, Non-QM, ARM Lender and Investor Trends
Friday, May 25, 2018
Posted To: Pipeline Press Did you know that the number of female chief executives of Fortune 500 companies this year declined by 25 percent (from 32 to 24)? Not good. One of the highlights for me of this week’s MBA Secondary Marketing Conference was the mPower lunch. Besides some great netw... .. read more..
Flipping; Turning into a Dangerous Game?
Friday, May 25, 2018
Posted To: MND NewsWire CoreLogic says flipping is back. The term applies to the act of buying, renovating and/or repairing a house, then reselling it, all within a short timeframe. Investors who specialize in flipping are always out there, but when prices are rising, or appear about to, lots mor... .. read more..
MBS RECAP: Bonds Confirm Yesterday's Strength
Thursday, May 24, 2018
Posted To: MBS Commentary Yesterday was an important one for anyone hoping NOT to see the bond market completely give up hope in the fight against higher rates. To be fair, the fundamental realities in place over the past few years have clearly pointed toward higher rates, but there's always ... .. read more..
Another Reminder Not to Trust Mortgage Rate Headlines
Thursday, May 24, 2018
Posted To: Mortgage Rate Watch Mortgage rates moved lower again today, bringing them to the best levels in at least 2 weeks. This assertion is very much at odds with the prevailing mortgage rate headlines today. News stories abound with talk of sharp increases to fresh 7-year highs (google news s... .. read more..
Existing Home Sales Reverse Course, Down 3%
Thursday, May 24, 2018
Posted To: MND NewsWire Existing home sales put an end to two straight months of gains , retreating in April on both a monthly and annual basis. The National Association of Realtors® said the sales of single-family homes, townhouses, condos, and cooperative apartments dropped by 2.5 percent f... .. read more..
Home Price Index Shows Signs of Losing Momentum
Thursday, May 24, 2018
Posted To: MND NewsWire Home prices in the first quarter of 2018 were 1.7 percent higher than at the end of the fourth quarter of last year. The Federal Housing Finance Agency said its Housing Price Index (HPI) gained 6.9 percent when compared to the level at the end of March 2017. On a monthly b... .. read more..
MBS Day Ahead: Green Shoots? Maybe. Opportunities? You Bet!
Thursday, May 24, 2018
Posted To: MBS Commentary One short week after hitting the worst levels in nearly 7 years there's suddenly a semblance of hope again for bonds. It was one thing to see last Friday's correction--which merely stopped the most abject bleeding--or the first 2 days of indecisive stability this... .. read more..
Broker Products; Upcoming Events; Financial Services and Acquisitions
Thursday, May 24, 2018
Posted To: Pipeline Press The conference this week? I attended various presentations dealing with housing finance and the economy in general. Even in the face of rising rates, the outlook on the housing market is bullish for prices – but with continued inventory problems. Labor shortages an... .. read more..
Tax Cut Gains Forecast to Fade Away in 2019
Thursday, May 24, 2018
Posted To: MND NewsWire Fannie Mae is backing down slightly on its economic forecast for the remainder of 2018. The first quarter GDP growth of 2.3 percent was the slowest in a year , down from 2.9 percent a year earlier. The company's economists, led by vice president and chief economists Doug D... .. read more..
April Delinquencies Improve Despite Historic Pattern
Thursday, May 24, 2018
Posted To: MND NewsWire Loan performance continued to improve in April, even though Black Knight says mortgage delinquencies have a historic pattern of increasing during that month. The overall delinquency rate declined 1.6 percent from March to a national rate of 3.67 percent. That rate is down ... .. read more..
MBS RECAP: Nice Gains More About Europe Than Fed
Wednesday, May 23, 2018
Posted To: MBS Commentary Bonds surged to significantly stronger levels in the presence of the Fed Minutes today. Any time we see strong gains on a day with a Fed release, chances are the Fed is behind the move. Incidentally, that's NOT the case today (spoiler in the headline, I know). So how... .. read more..