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Real Estate News
MBS RECAP: Bonds Gain Despite Data Surprise and Stock Rally
Fri, 13 Jul 2018 20:23:26 GMT

Posted To: MBS CommentaryBefore any discussion about market movement in July, we have to set the stage with some disclaimer about "slow summertime trading." That was the subject of this morning's commentary ( read it here , if you like). With tha..[read more]

Lowest Rates Since May, But There's a Catch
Fri, 13 Jul 2018 18:55:00 GMT

Posted To: Mortgage Rate WatchMortgage rates fell by an observable amount today-- one of the few times they've done so in recent weeks. Technically, today's average lender is offering the best we've seen since May 31st. That sounds pretty great, righ..[read more]

MBS Day Ahead: Get Used to Coconuts, Probably
Fri, 13 Jul 2018 14:20:28 GMT

Posted To: MBS CommentaryI know I made a Looney Tunes reference last week, but another one is in order. For those that aren't familiar, Yosemite Sam is stranded on a desert island and sits down to a smorgasbord of coconuts, prepared in various wa..[read more]

Construction, Warehouse Products; Free LO Comp Webinar; Shifting UW Criteria
Fri, 13 Jul 2018 12:58:39 GMT

Posted To: Pipeline PressEvents and Training Don't miss out on the Lenders One 2018 Summer Conference in Salt Lake City, Utah, August 5-8, at The Grand America. In an age of disruption, it's never been more important to learn from peers and industry ..[read more]

Mortgage Rates Still Can't Find Inspiration
Thu, 12 Jul 2018 21:18:00 GMT

Posted To: Mortgage Rate WatchMortgage rates stood a very decent chance to experience the highest volatility of the week today thanks to the most important economic data of the week being released this morning. The Consumer Price Index (CPI) is the m..[read more]

MBS RECAP: Bonds Hold Steady Despite Big Ticket Events
Thu, 12 Jul 2018 20:59:33 GMT

Posted To: MBS CommentaryWelcome to summertime in the bond market, where each day is narrower than the last! The same can be said for the past 2 weeks and the past several months, for that matter. By a wide margin, the 3-day trading range surrounding..[read more]

Inflation Data Shows Deceleration in Housing Costs
Thu, 12 Jul 2018 19:06:16 GMT

Posted To: MND NewsWireWhile the Labor Department's Employment Situation Report for June showed wages plodding along at a 2.7 percent annual increase, unchanged from May, it is still being outstripped by rising costs, especially for housing. Today's ..[read more]

New Home Sales Need More Trees and Contractors
Thu, 12 Jul 2018 18:57:35 GMT

Posted To: MND NewsWireThe Mortgage Bankers Association (MBA) is projecting a decline in new home sales for June, putting them significantly behind those in June 2017. MBA's Builder Applications Survey (BAS) shows mortgage applications for the purcha..[read more]

Full Radio Interview With Fed Chair Powell
Thu, 12 Jul 2018 18:43:00 GMT

Posted To: MBS CommentaryIn a fairly rare turn of events, Fed Chair Powell gave a rather lengthy radio interview with Marketplace's Kai Ryssdal. Here's a rather lengthy transcript. Note: This is far from "required reading" given that there..[read more]

MBS Day Ahead: Stocks and Bonds Telling Different Stories
Thu, 12 Jul 2018 13:51:14 GMT

Posted To: MBS CommentaryThis morning's key data release is already out and it's already proven to be a dud (MBS Live members can read the update HERE ). So we'll head to higher altitude to check in with bigger picture trends to see what ..[read more]

UW and API products; FHA/VA/Ginnie Updates; DACA Policy
Thu, 12 Jul 2018 12:51:41 GMT

Posted To: Pipeline PressChris Whalen notes, “The failure of Bear Stearns & Co a decade ago illustrates the key lesson of financial markets, namely that non-banks are dependent upon 1) banks and 2) clients for liquidity. And no amount of capita..[read more]

MBS RECAP: Volatile Day, But Inside The Same Old Range
Wed, 11 Jul 2018 21:59:50 GMT

Posted To: MBS CommentaryToday was the most active trading day of the week--something that looked destined to be the case considering markets began gyrating right at the start of the Asian session. The initial volatility came in response to the annou..[read more]

Mortgage Rates Calm Ahead of Key Data
Wed, 11 Jul 2018 20:54:00 GMT

Posted To: Mortgage Rate WatchMortgage rates played the same role they've been playing for weeks by holding fairly steady today. At the average lender, if you're looking for an average loan and you have above average qualifications, you'll have seen ..[read more]

Black Knight: Tappable Equity Skyrockets, But HELOC Loans Decline
Wed, 11 Jul 2018 15:05:12 GMT

Posted To: MND NewsWireThis month's Mortgage Monitor Report from Black Knight, Inc. is again about equity, but this time with a twist regarding the way homeowners are treating it. The company says that the tappable equity held by homeowners increased..[read more]

MBS Day Ahead: New Tariff Announcement Keeps Bonds In Recent Range
Wed, 11 Jul 2018 13:50:52 GMT

Posted To: MBS CommentaryThe first two days of the week were largely spent lamenting the slow and inconsequential nature of summertime trading in the bonds market. At least that's how I spent them. Superstitious market watchers would quickly poin..[read more]

TPO Products; OB/Resitrader Deals; New Tariffs Announced
Wed, 11 Jul 2018 12:54:58 GMT

Posted To: Pipeline PressU.S. capital markets folks have a way with words. Henry Jonas writes, “I started in this business in a Secondary Marketing in ‘86. Outside of maybe 1994 I cannot remember margins this thin. I went to Kroger and bo..[read more]

Mortgage Application Volume Ignores Holiday, Purchases Make Strong Showing
Wed, 11 Jul 2018 12:02:20 GMT

Posted To: MND NewsWireDespite the Independence Day holiday which both shortened and bisected the week, mortgage activity rallied significantly during the week ended July 6. The Mortgage Bankers Association said its Market Composite Index, a measure ..[read more]

MBS RECAP: Once More With Less Feeling
Tue, 10 Jul 2018 20:37:57 GMT

Posted To: MBS CommentaryIf we look solely at the US trading hours, yesterday and today form a nearly perfect 2-day trend just slightly higher in rate. Fannie 4.0 MBS prices have similarly shed 3/32nds (0.09) in a well-behaved trend channel. If we in..[read more]

Mortgage Rates Slightly Higher So Far This Week
Tue, 10 Jul 2018 19:45:00 GMT

Posted To: Mortgage Rate WatchMortgage rates didn't move for most lenders today. Remaining lenders were just slightly higher than yesterday, thus keeping this week's modest upward bias intact. In the slightly bigger picture, we had a fairly friendly ..[read more]

Jumbo Guidelines Loosening Quicker Than The Rest
Tue, 10 Jul 2018 17:55:49 GMT

Posted To: MND NewsWireThe Mortgage Bankers Association attributed an increase in its Mortgage Credit Availability Index (MCAI) last month to increased competition among lenders for the jumbo prime mortgage market. MBA said its index increased 0.2 pe..[read more]

MBS Day Ahead: Bonds Playing Defense Amid Slow Summer Backdrop
Tue, 10 Jul 2018 13:14:29 GMT

Posted To: MBS CommentaryYesterday saw the lightest Treasury volume of any full trading day so far this year. That's no great surprise in July, as this tends to be the month that marks the true start of summertime absences among market participan..[read more]

Training and Recruiting Products; Banking News; Loan Financing Needed
Tue, 10 Jul 2018 12:37:13 GMT

Posted To: Pipeline PressPesky technology… it just won’t go away. Online lending platform fintech player (including mortgages) SoFi has launched a banking app (SoFi Money) in beta testing and expects it to be ready later this year. It in..[read more]

Foreclosure Inventory Cruising on at 11-Year Low
Tue, 10 Jul 2018 12:26:02 GMT

Posted To: MND NewsWireThe foreclosure inventory, that is the percentage of loans in the process of foreclosure, appears to have stabilized at 0.6 percent of all outstanding first mortgage loans. CoreLogic said on Tuesday that that the inventory has ..[read more]

MBS RECAP: Excruciatingly Slow After Overnight Weakness
Mon, 09 Jul 2018 21:32:23 GMT

Posted To: MBS CommentaryBonds were moderately weaker today with Treasuries outpacing MBS in that regard. 10yr yields had fallen just over 3bps before the start of domestic trading and MBS logged their first trades about an eighth of a point weaker. ..[read more]

Mortgage Rates Edge Slightly Higher
Mon, 09 Jul 2018 20:47:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were modestly higher today amid exceptionally quiet market conditions. In general, the bond market (which underlies mortgage rates) has been sideways and fairly lifeless since the end of June. Until Friday..[read more]

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