MBS RECAP: Was the Eclipse a Market Mover?
Monday, August 21, 2017
Posted To: MBS Commentary It's a good thing financial media outlets aren't too shy about covering topics outside the financial sphere because without the eclipse, there would have been nothing to talk about today. Volume and volatility dropped off a cliff, abruptly. In fact, the differenc... .. read more..
Mortgage Rates Steady at 2017 Lows
Monday, August 21, 2017
Posted To: Mortgage Rate Watch Mortgage rates held steady to start the new week. This keeps them in line with the best levels since November 2016. There were no interesting developments in financial markets or in terms of economic data today. Most news coverage was focused on the solar eclipse. I... .. read more..
Residential Investment Weighed Down Q2 GDP
Monday, August 21, 2017
Posted To: MND NewsWire Real residential investment subtracted from GDP in the second quarter of the year to the greatest extent since the third quarter of 2010. Fannie Mae's August Economic Developments notes a 6.8 percent annualized decline, but the company's economists expect that sector's con... .. read more..
MBS Day Ahead: Nothing to do With The Eclipse
Monday, August 21, 2017
Posted To: MBS Commentary Welcome! Here is a safe haven from all of the eclipse talk. It won't be mentioned at all in this article. Never mind that it's in the title and the first 3 sentences, because we're about to move on. Bond markets begin another "summertime" week where... .. read more..
Freddie, Fannie, and Lender Shifts in Appraisal and Inspection Policies
Monday, August 21, 2017
Posted To: Pipeline Press What does $980k buy in the SF suburb of Vallejo, CA? A property designed by Julia Morgan (think Hearst Castle) with floating stairways, over-sized eves, massive beams, decks, and the use of exquisite wood wainscoting. The photos are sure impressive . Freddie and Fannie N... .. read more..
MBS RECAP: Bonds Manage to Close 'Unchanged' Despite Some Volatility
Friday, August 18, 2017
Posted To: MBS Commentary In the Day Ahead, we discussed bond traders' probable goals regarding keeping things as calm as possible. This depended on unexpected headlines and movements in external markets. Either of those were capable of throwing curveballs , and both threw a few today! Out of... .. read more..
More 2017 Lows for Rates; More Trump Drama
Friday, August 18, 2017
Posted To: Mortgage Rate Watch Mortgage rates moved lower again. Drama surrounding the Trump administration was also present. But this time around, the political theater wasn't responsible for the move lower in rates. In fact, it resulted in multiple lenders adjusting rate sheets higher in the mi... .. read more..
Freddie Mac to Automate Appraisals for Some Purchase Mortgages
Friday, August 18, 2017
Posted To: MND NewsWire Freddie Mac announced today that, going forward, not every application for a purchase mortgage will necessarily trigger an appraisal . A new automated alternative to traditional appraisals, which the company introduced for refinances in June, will soon be available for pur... .. read more..
Freddie Mac Puts Price on All-Cash Transactions
Friday, August 18, 2017
Posted To: MND NewsWire As investors flooded into the housing market after it collapses, they brought cash with them. At one point, 35 percent of home sale transactions were closed without a mortgage, i.e. were all-cash sales. Home prices are up, the bargains are gone, but cash sales remain signi... .. read more..
Appraisal News; Lock Process Changes; HARP, CRT
Friday, August 18, 2017
Posted To: Pipeline Press Brad Pitt - a wannabe architect? In 2007, Pitt founded the Make It Right Foundation to build homes for families whose original residences had been washed away in Hurricane Katrina. Here's one - the "Tiny House" - very cool . Mr. Pitt's accountants know a thing or two abo... .. read more..
MBS Day Ahead: Most Traders Thinking "Don't Rock The Boat"
Friday, August 18, 2017
Posted To: MBS Commentary A maritime analogy for bond trading in the Summertime... In the summer months especially, there's a boat-friendly baseline weather pattern offshore. Lest you think that's a generality that doesn't merit your full confidence, check out the following shots of w... .. read more..
MBS RECAP: Introducing The "Snow Cohn"
Thursday, August 17, 2017
Posted To: MBS Commentary What do you get when bond markets embark on a snowball rally due to headlines concerning Trump's Economic Advisor Gary Cohn? A delicious "Snow Cohn," of course (my team of writers assured me that was worth what I paid). In all seriousness, there were some s... .. read more..
Trump Administration Drama Pushing Rates Even Lower
Thursday, August 17, 2017
Posted To: Mortgage Rate Watch Mortgage rates fell yesterday in response to a tweet about Trump disbanding his councils of CEOs. Twitter was in play again today . This time around it was Gary Cohn, Trump's economic advisor. Rather, it was rumors of Cohn's departure that sent financial markets int... .. read more..
Do’s and Don’t’s For Divorce Attorneys (and Their Clients Owning Real Estate)
Thursday, August 17, 2017
Posted To: Community Commentary As a mortgage loan officer, I typically work with home buyers who are moving up, buying their first house, or buying a vacation or investment house. My refinances are often rate and term – (lowering the client’s payment) or cash-out for a specific purpo... .. read more..
CoreLogic - Don't Overlook Rates in Affordability Discussions
Thursday, August 17, 2017
Posted To: MND NewsWire Although home affordability is high, relative to pre-crisis levels, the rate at which their prices are increasing is cause for concern. Andrew LePage, CoreLogic Professional in Research Analysis, says the role of rising interest rates should not be overlooked; they can aff... .. read more..