MBS RECAP: Brexit Bond Benefits Are Apparently Eternal
Wednesday, May 22, 2019

Posted To: MBS Commentary Last we checked, it was going to be October before Brexit had its next hard deadline. So it was quite the back burner sort of market mover this week--especially in light of all the recent trade-related drama and other domestic political sideshows. But then this happened ... .. read more..

Mortgage Rates Catch a Break
Wednesday, May 22, 2019

Posted To: Mortgage Rate Watch Mortgage rates moved higher at a pace that was probably quicker than the average homebuyer would like yesterday . That was part of a 4 day move leading back up from the lowest levels in more than a year (or close to them, depending on the lender). That 4-day move co... .. read more..

MBS Day Ahead: Bonds Waving Long Goodbye to Trend, Hoping For Friendly Fed
Wednesday, May 22, 2019

Posted To: MBS Commentary In the day just past, bonds continued moving higher in yield, adding distance between themselves and the unexpectedly low levels seen during the trade war rally. Actually, I'll stop myself there because if I were to read what I just wrote, I might yell at the screen ... .. read more..

LO, AE Jobs; Broker and Warehouse Products; Conventional Conforming News
Wednesday, May 22, 2019

Posted To: Pipeline Press What’s going on behind the scenes and in the rumor mill at the MBA’s Secondary Conference? There is derision about HUD’s Ben Carson not knowing what There is derision about HUD’s Ben Carson not knowing what “ REO ” stands for. Holders ... .. read more..

GDP Growth Called "Transitory" While Low Inflation Appears Permanent
Wednesday, May 22, 2019

Posted To: MND NewsWire While calling the recent report on real gross domestic product (GDP) the strongest first quarter in four years, Fannie Mae's Economic and Strategic Research (ESR) group agreed with Freddie Mac's economist that the 3.2 percent reported growth is unsustainable. Report detail... .. read more..

Is the Trade Dispute Dampening Home Purchase Activity?
Wednesday, May 22, 2019

Posted To: MND NewsWire Refinancing rose to the surface yet again, driving the gain in mortgage applications during the week ended May 17. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, increased 2.4 percent on a seasonally adjusted basis ... .. read more..

MBS RECAP: Bonds Make Good on Threats of Weakness
Tuesday, May 21, 2019

Posted To: MBS Commentary Bonds have been threatening to end their pleasantly surprising stint of gains over the past few weeks on each of the past 4 business days. Yesterday's weakness was technically enough to start packing up the party supplies, but an isolated day of trend breakage is alw... .. read more..

Mortgage Rates Bounce Back
Tuesday, May 21, 2019

Posted To: Mortgage Rate Watch Mortgage rates had a fairly decent day yesterday as far as most lenders are concerned. A few lenders saw fit to bump rates up in the afternoon following a day of weakness in the bond market (which directly affects the rates lenders can offer). Because a majority of ... .. read more..

Home Sales Stall; Sellers Need to be Realistic
Tuesday, May 21, 2019

Posted To: MND NewsWire This one might smart a bit. There were big hopes for home sales in April, with interest rates continuing at unexpectedly low levels, unemployment at a 50-year low, and the spring market supposedly in full swing. Analysts polled by Econoday expected that the existing home s... .. read more..

Fueled by Low Rates, Prepayment Rate Continues to Rise
Tuesday, May 21, 2019

Posted To: MND NewsWire With interest rates remaining at 2019 lows and spring market home sales kicking in, the rate of prepayments continues to rise. Black Knight, in its "first look" at April mortgage performance data, says the rate is up 17.54 percent from March and 17.65 percent year over yea... .. read more..

Budgeting, Comp Products; Sales, Government Investigation Webinars
Tuesday, May 21, 2019

Posted To: Pipeline Press What’s the banter, and in the unverified rumor mill, at the MBA’s Secondary Conference? Fannie, Freddie, and FHA are all concerned about being adversely selected against by lenders, and F&F are rumored to be ending pilot programs under FHFA direction. Reg... .. read more..

MBS Day Ahead: Without Help, Bonds Face Uphill Battle
Tuesday, May 21, 2019

Posted To: MBS Commentary In the day just past, bonds weakened moderately amid the lightest volume in more than 3 weeks and a relative absence of market moving data/events. The losses are somewhat logical in the sense that momentum measurements have increasingly suggested this month's rally m... .. read more..

MBS RECAP: Bonds Skittish After Stocks Find Bottom
Monday, May 20, 2019

Posted To: MBS Commentary Both stocks and bonds have been edging back into less panicked territory after trade war drama fizzled out last week. In other words, stock prices and bond yields were moving higher together. To be fair, bonds got one last rally push from Italy/EU drama mid-week (stocks ... .. read more..

Mortgage Rates Mostly Hold Near Lows, But Things Could Change Tomorrow
Monday, May 20, 2019

Posted To: Mortgage Rate Watch Mortgage rates moved microscopically higher today, depending on the lender. In terms of underlying movement in the bond market, however, rates should have risen a bit more than they did. This has to do with the timing of the bond market weakness and the amount of mo... .. read more..

New Data Prompts Freddie Mac to Upgrade Their Forecast
Monday, May 20, 2019

Posted To: MND NewsWire Freddie Mac's May Forecast continues to look for a downward trending interest on the 30-year fixed-rate mortgage. The company's economists are project an average rate of 4.3 percent this year with a small increase to 4.5 percent in 2020. Coupled with a strong labor market,... .. read more..

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