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  • Mortgage Rates Little-Changed But The Fed Raises Some Doubts November 25, 2020
    Posted To: Mortgage Rate WatchMortgage rates have been operating relatively close to their all-time lows recently and today was no exception. The Fed raised some doubts as to how much longer that would be the case this afternoon when it released the minutes of its most recent policy meeting (from 3 weeks ago). The Fed […]
  • MBS RECAP: Fed Minutes Hurt MBS, But Not Quite As Badly As It Seemed November 25, 2020
    Posted To: MBS CommentaryFed Minutes Hurt MBS, But Not Quite As Badly As It Seemed Today's Fed Minutes offered a more detailed account of the meeting that took place 3 weeks ago. Markets expected there would be more to learn on the Fed's debate over its bond buying plan. They were not disappointed at the […]
  • Freddie Mac on Track For 25% More Loans This Year, Most of Them Refis November 25, 2020
    Posted To: MND NewsWireFreddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 25.7 percent in October compared to a 17.5 percent gain in September. The portfolio balance at the end of the period was $2.625 trillion compared to $2.579 trillion the prior month and $2.301 trillion a year […]
  • New Home Sale Refuse to Back Down From 14-year highs November 25, 2020
    Posted To: MND NewsWireSales of newly constructed single-family homes slipped slightly in October; the second month sales have declined. The U.S. Census Bureau and Department of Housing and Urban Development reported that the month's sales were at a seasonally adjusted annual rate of 999,000, a decrease of 0.3 percent compared to September's revised sales of […]
  • MBS Day Ahead: Unofficial Early Close Versus Fed Minutes That Could Matter November 25, 2020
    Posted To: MBS CommentaryHere it is! The trading community's ONE guaranteed chance of the year for a 4.5-day weekend. Even though Wednesday is never officially designated as an "early close" by SIFMA, that's often what it becomes in terms of volume and liquidity. The only reason that might not be the case to a normal […]
  • MLO, Ops Jobs; Doc, Sales, Broker Tools; Disaster Updates; Investors React to Freddie and Fannie Changes November 25, 2020
    Posted To: Pipeline PressSecond only to the excitement of the new phone book coming, the new conforming loan limit is $548,250 for 2021 , up from $510,400 in 2020, and some investors reacted. (More below.) The limit will impact home buyers in a positive way. The spread of COVID-19 (based on 2 things, how dense […]
  • Refi Applications Hit 7 Month Highs November 25, 2020
    Posted To: MND NewsWireRefinancing increased its already overwhelming dominance of the mortgage market during the week ended November 20. The Mortgage Bankers Association (MBA) said the refinancing share of mortgage applications topped 70 percent and refinancing accounted for most of the weeks increased volume. MBA's Market Composite Index, a measure of mortgage loan application volume, […]
  • MBS RECAP: Modest Weakness Persists as Markets Rotate Back Toward Risk November 24, 2020
    Posted To: MBS CommentaryModest Weakness Persists as Markets Rotate Back Toward Risk Whether we want to pin the blame on Trump's willingness to begin the transition of power or Yellen being named as Biden's Treasury Secretary yesterday, stocks and bonds have both been doing more to move in a "risk-on" direction over the past 2 […]
  • How The New Loan Limits Affect Mortgage Rates November 24, 2020
    Posted To: Mortgage Rate WatchIf you follow the MBS Commentary channel on this site, you will have already seen most of the following, but it's relevant for consumers as well. As far as mortgage rates are concerned, the increase in conforming loan limits doesn't have a direct impact, but it does change rate availability for […]
  • Conforming Loan Limit Increases to $548,250 November 24, 2020
    Posted To: MBS CommentaryIf you'd like to read the official FHFA press release, here you go , but here's the skinny on the new conforming loan limit of $548,250 for 2021, up from $510,400 in 2020. Which loans does this apply to? Conventional, conforming loans (those sold to or securitized by Fannie Mae and Freddie […]
  • September Home Price Gains Blow Away Forecasts November 24, 2020
    Posted To: MND NewsWireAnnual price increases in September were quite literally off the charts . Both the S&P CoreLogic Case-Shiller National Index and the Housing Market Index from the Federal Housing Finance Agency (FHFA) recorded annual appreciation of at least 7 percent. The Case-Shiller National Index, which covers all nine U.S. census divisions, reported a […]
  • CTO, MLO, Ops Jobs Across the Country; Customer Service, eSignature Tools; MLO Yield Curve Primer November 24, 2020
    Posted To: Pipeline PressRemember when you drove to work every day? For non-mortgage kicks, here’s a site where you can take a virtual drive through dozens of cities around the world, setting the speed of the vehicle, street noise, and local radio station. (Just click on the city in the list on the right to […]
  • MBS Day Ahead: Time For New Conforming Loan Limits November 24, 2020
    Posted To: MBS CommentaryWith very little by way of significant data or events as far as financial markets are concerned, today's most interesting revelation will be FHFA's announcement of new conforming loan limits. We actually already know quite a bit, and it looks like the number should be $548,220 or slightly higher , but that […]
  • Mortgage Rates Start New Week Slightly Higher November 23, 2020
    Posted To: Mortgage Rate WatchEverything is relative when it comes to following day-to-day movements in mortgage rates . Yes, they're technically higher than they were on Friday afternoon, but they're still lower than just about any other day... ever. Most prospective borrowers will see very little difference from last week. On average, the actual interest […]
  • MBS RECAP: Bond Market Weakness Introduce Risk of In-Range Bounce November 23, 2020
    Posted To: MBS CommentaryBond Market Weakness Introduce Risk of In-Range Bounce Bonds were weaker overnight following European economic data and traded sideways for the entirety of the domestic session. The weakness introduces a small risk that yields are bouncing on the lower end of their current trend channel (a series of lower highs and lower […]

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