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  • Brutal Week For Rates But There's Hope (Hopefully) February 26, 2021
    Posted To: Mortgage Rate WatchRising rates have been on the menu for months, but the drama kicked into a higher gear this week. Maybe you heard about this? We've certainly been discussing it in recent newsletters ( especially last week's ). The rising rate narrative hit the mainstream this week as it was widely credited […]
  • MBS RECAP: Nice Bounce! Now What? February 26, 2021
    Posted To: MBS CommentaryNice Bounce! Now What? - An early bounce turned into an even bigger, friendlier bounce at the end of the day - Biggest reason for the gains is the losses that preceded them (momentum/technicals/tradeflows) - Still following the 2.5 coupon - Still would like to see better confirmation of a new range […]
  • Forbearances Post Typical Mid-Month Increase February 26, 2021
    Posted To: MND NewsWireBlack Knight reports a second increase in the number of loans in pandemic related forbearance plans in as many weeks. Forborne loans rose by 21,000 during the week ended February 23 after falling below 2.7 million for the first time since last April earlier this month. The company said such mid-month increases […]
  • Lenders Hiring MLOs; Correspondent, Tech, Servicing, Tech Products; What you Should Know About Yesterday's Rate Move February 26, 2021
    Posted To: Pipeline PressHuh? Rates don’t continually go down and then stay there for an indefinite period of time? No, they don’t. There’s this opinion piece in the Wall Street Journal: “We’ll Have Herd Immunity by April. COVID cases have dropped 77% in six weeks. Experts should level with the public about the good news.” […]
  • Freddie Mac's 12-Month Portfolio Growth Nears Half Trillion February 26, 2021
    Posted To: MND NewsWireFreddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 16.1 percent in January compared to a 22.4 percent gain in December. The portfolio balance at the end of the period was $2.777 trillion compared to $2.740 trillion the prior month and $2.339 trillion a year […]
  • Fannie/Freddie COVID Programs Extended to Match FHA, VA Deadlines February 26, 2021
    Posted To: MND NewsWireDeadlines for COVID-19 related relief for borrowers with Fannie Mae and Freddie Mac (GSE) mortgages were extended by the Federal Housing Finance Agency (FHFA) for the second time in a little over two weeks. The agency said the new changes were made to bring GSE programs into alignment with the deadlines for […]
  • Mortgage Rates Are Now Well Over 3 Percent February 25, 2021
    Posted To: Mortgage Rate WatchMortgage rates WISH they were still at 2.97%--the number conveyed today by Freddie Mac's weekly survey. Freddie's data is accurate when it comes to capturing broad trends over time, but can really fall short when the bond market is experiencing elevated volatility. To say that bond market volatility has been elevated […]
  • MBS RECAP: Video Time Corresponds With Market Drama (Today's is 22 min.) February 25, 2021
    Posted To: MBS CommentaryJust When You Thought It Wouldn't Get Much Worse Staggeringly weak day for bonds. 2.0 MBS coupon is now irrelevant. 2.5 is only game in town Lots of general motivations to discuss (watch the video), but the 7yr auction was the only obvious moment for cause & effect Econ Data / Events […]
  • Pending Home Sales Post 5th Straight Loss February 25, 2021
    Posted To: MND NewsWireJanuary marked the fifth straight month that the National Association of Realtors® (NAR) has reported a decline in its Pending Home Sales Index (PHSI). The index, based on newly signed contracts for the purchase of existing homes, was down 2.8 percent from its December level. The index in January was at 122.8 […]
  • Ops, MLO Jobs; Cap. Mkts., Valuation, Default, Fulfillment Tools; Technology and Processing Notes February 25, 2021
    Posted To: Pipeline PressAs hope for a recovery drawing nearer helps push rates higher, Carol K. writes, “I hate it when people ask me what I do for fun because there is no classy way to say, ‘Binge drink.’” The approaching 1003 form mandatory changes may cause some people to turn to drink… Is it […]
  • MBS Day Ahead: Just When You Thought It Wouldn't Get Much Worse February 25, 2021
    Posted To: MBS CommentaryIt got much worse. Bond yields were up more than 8bps by the open with the 10yr just a hair under 1.47%. It might be hard for traders to avoid ringing the 1.50% bell even if bonds manage to bounce today or in the next few days. The kicker is that the […]
  • Highest Mortgage Rates Since June 2020 February 24, 2021
    Posted To: Mortgage Rate WatchAs of today, you'd have to go back to June 2020 to see higher mortgage rates. This is courtesy of an ongoing move in the bond market that has longer-term rates/yields surging higher at the quickest pace since the pandemic began. The broader bond market has actually been signalling this sort […]
  • MBS RECAP: Is It Another Trap and Which Coupon Do I Watch Now? February 24, 2021
    Posted To: MBS CommentaryIs It Another Trap and Which Coupon Do I Watch Now? Yesterday's bond market resilience offered hope for a bounce, but those hopes were crushed by new weakness this morning. The move took MBS to their worst levels since last March and Treasuries, since February 2020. Bonds recovered mid-day, begging the question: […]
  • New Home Sales on the Rise 4.3% in January February 24, 2021
    Posted To: MND NewsWireNew home sales continued the turnaround, started in December, that ended three straight months of slowing sales. The U.S. Census Bureau and Department of Housing and Urban Development said newly constructed homes were sold in January at a seasonally adjusted annual rate of 923,000 units. This is an increase of 4.3 percent […]
  • Delinquency Rate Lowest in COVID Era; but Lingering Risks Remain February 24, 2021
    Posted To: MND NewsWireLoan performance continued to improve in January although the number of delinquencies remains significantly elevated from pre-pandemic levels. Black Knight's first look at the month's loan performance data has both good news and some that is disquieting. The good news is a 121,000-loan decline in the number of loans that are 30 […]

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