New Home Sales, Prices Faded in October
Friday, November 16, 2018
Posted To: MND NewsWire The Mortgage Bankers Association (MBA) notes that applications for the purchase of new homes declined by 2.1 percent in October compared to the same month in 2017. Those applications were also 11 percent lower than in September. The information, taken from responses to MBA... .. read more..
Mutual Mortgage Insurance Fund Outperforms for Fourth Year in a Row
Friday, November 16, 2018
Posted To: MND NewsWire The Federal Housing Administration (FHA) said on Thursday that its Mutual Mortgage Insurance Fund (MMI Fund) exceeded its congressionally mandated minimum reserves in FY2018 for the fourth year in a row. In its 2018 Annual Report to Congress the agency said its Capital Res... .. read more..
MBS Day Ahead: Bonds Already Commuting for Thanksgiving?
Friday, November 16, 2018
Posted To: MBS Commentary Because November 1st was a Thursday, we'll be treated to the earliest possible iteration of Thanksgiving. It's next week, by the way! Why are we talking about such things with respect to financial markets? Simply put, the winter holidays definitely have an impact... .. read more..
Profitability and Commission Products; HELOCs, Servicing, Digital...Geocoding...
Friday, November 16, 2018
Posted To: Pipeline Press Why is the housing market sluggish despite a solid U.S. economy, solid demographics, and pent-up demand? Those don’t matter if prices are out of reach relative to incomes , and housing appreciation has outpaced income growth for a long time. And lending standards h... .. read more..
MBS RECAP: Bonds Pulled 2 Ways by Stocks and Global Gloominess
Thursday, November 15, 2018
Posted To: MBS Commentary Remember the middle of 2016 when rates managed to make it all the way back in line with all-time lows despite having almost no justification in terms of economic data and policy outlooks? Those low rates were mostly about Brexit . Something about Brexit is utterly captiv... .. read more..
Fannie Mae Offering Relief Programs in Wildfire Areas
Thursday, November 15, 2018
Posted To: MND NewsWire Fannie Mae has expanded the menu of post-disaster services it is offering to its borrowers. The new services are in addition to the up to 12 months of forbearance, waived fees, and temporary foreclosure moratorium that Freddie Mac and Fannie Mae (the GSEs) traditionally of... .. read more..
Lowest Mortgage Rates This Month!
Thursday, November 15, 2018
Posted To: Mortgage Rate Watch Mortgage rates hit their lowest levels of the month today! Sure, that's only 10 business days for the mortgage world, but we'll take every little victory we can get these days. Why is that? Because "these days" have been pretty rough. Exactly one week ago, rates wer... .. read more..
Buyers Not Holding Their Breath for Short Term Market Relief
Thursday, November 15, 2018
Posted To: MND NewsWire It ain't going to get any easier... The National Association of Home Builders (NAHB) tells us these cheery words encapsulate the attitude of respondents to its survey regarding home purchasing. The company's Housing Trends Report for the third quarter of the year found tha... .. read more..
MBS Day Ahead: Brexit Strikes Back
Thursday, November 15, 2018
Posted To: MBS Commentary Ah Brexit... You thought you'd heard the last of it back in 2016? No such luck. Actually, it is a bit lucky to be hearing about it, at least as far as domestic rates are concerned. Both in 2016 and in the past week, Brexit-related developments helped rates move lower... .. read more..
Accounting, Subservicing, Warehouse Products; Freddie and Fannie Changes Roll On
Thursday, November 15, 2018
Posted To: Pipeline Press With only week until Thanksgiving there’s a lot going on – every one of these stats impacts lenders. CoreLogic tells us that there are 48,390 homes at risk from the current California wildfires. Believe in climate change or not, or in science or not, one stud... .. read more..
MBS RECAP: More Stock Losses Bring More Bond Bounces
Wednesday, November 14, 2018
Posted To: MBS Commentary The narrative has grown (remained?) the same for bonds lately. If stocks are losing ground, then it's time to rally . If stocks are stabilizing or recovering, it's time to sell . Today was more of the same in that regard. For the first few hours of the day, yield... .. read more..
Afternoon Mortgage Rate Improvements For Most Lenders
Wednesday, November 14, 2018
Posted To: Mortgage Rate Watch Mortgage rates began the day in roughly unchanged territory. Some lenders were microscopically stronger or weaker compared to yesterday, but not enough to impact the average mortgage borrower. For the first few hours of the day, it looked as if rates would stay unch... .. read more..
Millennials Could be Foregoing Equity Wealth
Wednesday, November 14, 2018
Posted To: MND NewsWire While reams of research have been done on why members of the Millennial generation are less likely to own a home compared to their baby boomer and Gen X elders at the same age, the Urban Institute (UI) notes that knowing the reasons doesn't necessarily shed much light on t... .. read more..
MBS Day Ahead: CPI Gets First At-Bat, Then Back to Stocks
Wednesday, November 14, 2018
Posted To: MBS Commentary Bonds are actively trying to decide who they are and what they want to do with their lives. Will they be barometers of economic growth and inflation? Or will they be gauges of Fed bond buying and US government bond selling (supply and demand)? The answer is "yes&quo... .. read more..
Mortgage Applications: Refis at Lowest Levels Since 2000
Wednesday, November 14, 2018
Posted To: MND NewsWire Mortgage application activity continued to shrink during the week ended November 9. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage application volume dropped by 3.2 percent on a seasonally adjusted basis when compared to its level o... .. read more..