Mortgage Rates Drop as Bond Gains Accelerate
Wednesday, July 17, 2019
Posted To: Mortgage Rate Watch Mortgage rates improved today, depending on the lender and the time of day! Underlying bond markets were only modestly stronger in the morning. As such, the average lender only offered modest improvements over yesterday's rates at first. But as the day progressed, m... .. read more..
MBS RECAP: Stocks' Mini-Meltdown Helps Bonds Rally Big
Wednesday, July 17, 2019
Posted To: MBS Commentary What began as a rather unassuming summertime Wednesday quickly turned in to one of the biggest rally days in weeks for bonds. 10yr yields moved more than 6bps lower to end the day well under the important 2.06% technical level and Fannie 3.0 MBS gained a quarter of a poi... .. read more..
June Construction Numbers Tried to Hang on, But Failed to Impress
Wednesday, July 17, 2019
Posted To: MND NewsWire The residential construction numbers in June were expected to come in largely in the same neighborhood as in May. Analysts however got it only half right. While starts fell fractionally, permits took a dive, falling by 6.1 percent compared to the previous month. The U.S. C... .. read more..
Comp, Broker, Compliance Exam Products; F&F Changes; The Fed and Rates
Wednesday, July 17, 2019
Posted To: Pipeline Press I encounter plenty of people in the mortgage biz, from part-time receptionists to owners, who are focused on helping consumers. It’s a good thing! And they ask me about consumer education. (“Have you ever heard of a class for anyone on home buying or the home... .. read more..
MBS Day Ahead: Bonds Trying to Shake Off Last Week's Bad Vibes
Wednesday, July 17, 2019
Posted To: MBS Commentary In the day just passed, a strong Retail Sales report kept the pressure on bond markets to remain in the negative trend that prevailed last week. Yields have been moving progressively higher since the June 5th jobs report catalyzed a confirmed break of a narrow, consolida... .. read more..
Fannie Mae Sees Economic Slowdown...Slowing
Wednesday, July 17, 2019
Posted To: MND NewsWire This month marks the tenth anniversary of the current expansion. How much longer can it last? Fannie Mae's July Economics Development report indicates it has a way to go, although likely at a slowing pace. The second quarter of 2019 has just ended, but Fannie Mae's ESR Mac... .. read more..
Higher Rates Stunt Post-Holiday Application Volume Recovery
Wednesday, July 17, 2019
Posted To: MND NewsWire Mortgage application activity retreated again during the week ended July 12, although refinancing remained strong. The Mortgage Bankers Association (MBA) said its Market Composite index, a measure of application volume, was down 1.1 percent on a seasonally adjusted basis f... .. read more..
MBS RECAP: Late Day Reslience But Negative Trend Remains Intact
Tuesday, July 16, 2019
Posted To: MBS Commentary Bonds began the day in roughly unchanged territory. On the one hand, that was impressive considering the lack of substance underlying yesterday's rally. On the other hand, that lack of substance meant we were at risk of a bigger reaction to the Retail Sales data. Ret... .. read more..
Mortgage Rates Under Modest Pressure After Retail Sales Data
Tuesday, July 16, 2019
Posted To: Mortgage Rate Watch Mortgage rates were flat to slightly higher today, following a stronger-than-expected Retail Sales report. The bond market (which dictates mortgage rates) was eagerly awaiting the week's first major economic data. Even though the Fed will almost certainly cut rates ... .. read more..
Builder Confidence Holds Steady, Labor Shortages Persist
Tuesday, July 16, 2019
Posted To: MND NewsWire Builder confidence rose slightly in July. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), which it sponsors with Wells Fargo, gained one point, rising to 65. This marks the sixth consecutive month that sentiment levels have held at a s... .. read more..
U/W, Training, Non-QM, Marketing Products; Ginnie's Growth
Tuesday, July 16, 2019
Posted To: Pipeline Press Although lots of small lenders don’t seem interested in being acquired any longer (“Hey, our pipeline is full and we’re making money again! Autumn is a long way off!”), M&A is alive and well. The latest example comes from Southern California w... .. read more..
MBS Day Ahead: Week's First Meaningful Data Plus Earnings Season in Swing
Tuesday, July 16, 2019
Posted To: MBS Commentary In the day just passed, bonds traversed a sleepy summertime Monday trading session without much volume or liquidity. That dynamic was somewhat exacerbated by the fact that Japanese markets were closed (which means there was no hub for Treasury trading during Asian market... .. read more..
MBS RECAP: Sleepy Session, But Tomorrow Could be Different
Monday, July 15, 2019
Posted To: MBS Commentary Today was one of those unofficial 3-day weekend type of Mondays with light volume, light trader participation, and "drifty" trading momentum. A market holiday in Tokyo (Asian market hours' requisite hub for cash Treasury trading) didn't help start the d... .. read more..
Mortgage Rates Little-Changed Despite Bond Market Gains
Monday, July 15, 2019
Posted To: Mortgage Rate Watch Mortgage rates were mostly flat to begin the new week, even though underlying bond markets were in stronger territory. Bonds, more than anything else, dictate the day-to-day direction for mortgage rates. That said, there are different varieties of bonds as well as d... .. read more..
MBS Week Ahead: New Breakout or New Ceiling?
Monday, July 15, 2019
Posted To: MBS Commentary In the week just passed, the first 4 days (and especially Tue/Thu) served as the scene for a breakout from the previous trend (seen in the yellow lines on today's chart). Investors eagerly awaited Powell's congressional testimony, with bonds leading off toward hi... .. read more..