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Real Estate News |
Homeowner Equity Reaches All-Time High in Q2
Fri, 20 Sep 2019 15:22:11 GMT
Posted To: MND NewsWireTotal home equity, not surprisingly, increased again in the second quarter of the year. CoreLogic's quarterly Homeowner Equity Insights report, which looks only at properties with one or more mortgages, puts the aggregate incre..[read more]
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MBS Day Ahead: Bonds Just Hoping for an Orderly Escape; Bigger Decisions on Hold
Fri, 20 Sep 2019 14:14:11 GMT
Posted To: MBS CommentaryIn the day just passed, bonds trading was exceptionally calm in the wake of Wednesday's Fed day. As I mentioned in the recap , it was one of the least volatile moves relative to expectations of any Fed day reaction I can ..[read more]
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Fraud, Broker, and LO Products; Correspondent/Wholesale Changes
Fri, 20 Sep 2019 12:36:39 GMT
Posted To: Pipeline PressA mile is 5,280 feet. And Central Park Tower on West 57th St. in Manhattan now stands at 1,550 feet, about a third of a mile. I mention this because it is now the tallest residential building in the world , and if you’d..[read more]
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Rates Move Lower for Eighth Consecutive Month, Driving Refis
Fri, 20 Sep 2019 12:24:53 GMT
Posted To: MND NewsWireThirty-year mortgage loans closed in August carried an average interest rate of 4.07 percent according to Ellie Mae's Origination Insight Report. Rates were down for the eighth consecutive month , easing back from an average of..[read more]
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MBS RECAP: Indecisive, Sideways Trading After Fed Day
Thu, 19 Sep 2019 21:45:40 GMT
Posted To: MBS CommentaryRelative to the expectation for yesterday's Fed events to cause volatility, the movement we've seen in the bond market has been fairly pitiful in response. Seriously folks... I can't think of a bigger gap between ..[read more]
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Think The Fed Cut Mortgage Rates? Think Again
Thu, 19 Sep 2019 20:23:00 GMT
Posted To: Mortgage Rate WatchHere is exactly what yesterday's Fed rate cut did to mortgage rates: ABSOLUTELY NOTHING! No Fed rate cut (or hike) will EVER do ANYTHING directly to mortgage rates because the Fed doesn't set mortgage rates. Don't let th..[read more]
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2018's Home Sales Slump Now Fully Erased
Thu, 19 Sep 2019 15:17:04 GMT
Posted To: MND NewsWireWhile the increase wasn't as strong as in July, last month's existing home sales posted a second straight month of gains and, as previously, the National Association of Realtors® (NAR) credited falling interest rates. Sales..[read more]
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MBS Day Ahead: Bonds Set to Battle Potentially Important Level
Thu, 19 Sep 2019 13:16:15 GMT
Posted To: MBS CommentaryIn the day just passed, the bond market finally got a chance to sink its teeth into the much-anticipated Fed announcement/forecasts/press conference. Traders were hoping to get a read on whether the Fed rate cut cycle is bein..[read more]
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Originator, Servicing, Correspondent Products; Why Extensions Cost Money
Thu, 19 Sep 2019 12:52:29 GMT
Posted To: Pipeline PressThe residential lending industry continues to evolve. Lenders are coming and going, moving in and out of business channels. (The latest example being Union Bank, as UBOC is rumored to be in the process of reducing its overall..[read more]
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Fannie Mae Turns Bullish on Construction, Best Levels Since May
Thu, 19 Sep 2019 12:38:24 GMT
Posted To: MND NewsWireFannie Mae says consumer spending will continue to support the economy. The company's Economic Summary for September cites increases in auto and retail sales, real disposable personal income, and real personal consumption expen..[read more]
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MBS RECAP: What Fed Day? This One Was a Dud
Wed, 18 Sep 2019 21:49:35 GMT
Posted To: MBS CommentaryAs far as Fed days go--especially the kind where we get updated economic projections--today's example was pretty damn uneventful. These things happen from time to time, but this wasn't exactly a day where a "dud" anno..[read more]
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HIGHER Mortgage Rates Despite Fed Rate CUT. Here's Why
Wed, 18 Sep 2019 20:54:00 GMT
Posted To: Mortgage Rate WatchOne of the greatest potential sources of confusion for prospective mortgage borrowers is the relationship between the Fed and mortgage rates. While the Fed's policy changes absolutely have a big impact on all sorts of in..[read more]
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Differences Between Previous and Current FOMC Statements
Wed, 18 Sep 2019 18:02:46 GMT
Posted To: MBS CommentaryInformation received since the Federal Open Market Committee met in JuneJuly indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average,..[read more]
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Housing Permits and Starts Hit Highest Levels in a Year
Wed, 18 Sep 2019 14:23:26 GMT
Posted To: MND NewsWireAugust turns out to have been among the year's strongest periods for residential construction. While analysts had expected builders to shake off some of the lethargy that has dogged the industry for most of the year, increasing..[read more]
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MBS Day Ahead: Today's Fed Announcement is More Complicated Than Normal
Wed, 18 Sep 2019 13:09:34 GMT
Posted To: MBS CommentaryIn the day just passed, the bond market managed to add a 2nd day to a friendly correction--a small counterattack against the much larger corrective sell-off that dominated last week's trading (and yes... that weakness was..[read more]
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Pricing, Capital Markets Products; Vendor Tools and Capital Raise
Wed, 18 Sep 2019 12:25:45 GMT
Posted To: MND NewsWireThis morning I find myself in Pittsburgh, PA for the MBA of Southwest Pennsylvania . (Yes, I am bound for lunch at Primanti Brothers.) It turns out that the nearest farm to downtown Pittsburgh is only 20 minutes away, which is ..[read more]
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Higher Mortgage Rates Didn't Deter Purchase Loan Activity
Wed, 18 Sep 2019 12:10:44 GMT
Posted To: MND NewsWireThere was a jump in purchase mortgage applications during the week ended September 14 even as interest rates moved higher. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of applications volume..[read more]
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MBS RECAP: Fine-Tuning Correction Ahead of Fine-Tuning Rate Cut
Tue, 17 Sep 2019 22:24:58 GMT
Posted To: MBS CommentaryToday saw the narrowest trading range of any day so far this month and by far the calmest day since the big September selling spree began. Drama came in the form of an uncommon and esoteric development in short-term funding m..[read more]
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No, The Fed Rate Cut Won't Affect Mortgage Rates
Tue, 17 Sep 2019 21:02:00 GMT
Posted To: Mortgage Rate WatchMortgage rates have risen rather abruptly from their long term lows 2 weeks ago and are now at the highest levels in more than a month. Fortunately, the average lender is still easily able to quote rates in the high 3% r..[read more]
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MBA Says New Home Sales Increased for August
Tue, 17 Sep 2019 15:20:48 GMT
Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) is anticipating an increase in new home sales in August. The organization's Builder Application Survey found the volume of applications to finance the purchase of newly construction homes ..[read more]
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Builder Confidence Rises Despite Manufacturing Slowdown, China Fears
Tue, 17 Sep 2019 14:41:42 GMT
Posted To: MND NewsWireThe National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) increased 1 point in September. Along with an upward revision to the August number, that carried the HMI to its highest level of the year ...[read more]
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MBS Day Ahead: Correction to The Correction. Does it Matter?
Tue, 17 Sep 2019 13:27:46 GMT
Posted To: MBS CommentaryIn the day just passed, bonds saw their first reprieve from the fairly brutal correction that has defined essentially all of September. 10yr yields dropped all the way to 1.81 after having broken above 1.90 in the previous se..[read more]
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Digital, Sales, Broker Products; Mortgage Compliance, Risk, and Fraud Q&A
Tue, 17 Sep 2019 12:53:53 GMT
Posted To: Pipeline PressAs yet another example of a mortgage conference eating into a weekend, leading attendees to travel on a Friday or Saturday, the Mortgage Bankers Association’s Regulatory Compliance Conference starts this Sunday. But the..[read more]
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MBS RECAP: Does Oil Matter to Rates?
Mon, 16 Sep 2019 21:26:03 GMT
Posted To: MBS CommentaryToday's key development was over-the-weekend news of drone strikes on Saudi oil assets. Iran is getting the blame, but Trump says he's not in a rush to respond and that he wouldn't like to go to war with anybody. ..[read more]
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Rates Recover Modestly, But Uncertainty Remains
Mon, 16 Sep 2019 20:48:00 GMT
Posted To: Mortgage Rate WatchMortgage rates closed out their worst week since 2016 on Friday as the bond market underwent a classic correction after its best month since 2011. The bigger and more sustained a drop in rates, the bigger the potential c..[read more]
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