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  • Refresher on The New Refi Fee and Its Effect on Mortgage Rates September 22, 2020
    Posted To: Mortgage Rate WatchFannie Mae and Freddie Mac are the two government sponsored agencies that guarantee timely payment of principal and interest to the investors who front the money that finances the American mortgage market. This guarantee means that more investors are willing to participate and at more advantageous rates for homeowners. Naturally, not […]
  • MBS RECAP: Floating, Locking, and Reasons For Sideways Rates (Including Politics) September 22, 2020
    Posted To: MBS CommentaryStocks vs Bonds; Bonds vs Supply There's a fairly strong case to be made for stock market weakness helping bond yields remain lower than they otherwise might be in September. As such, we'll be watching the bond market's reaction very carefully in the event of a rebound. Stocks notwithstanding, MBS are coping […]
  • Home Sales Surge to Best Levels in 14 Years September 22, 2020
    Posted To: MND NewsWireExisting home sales continued on a roll for the third consecutive month, hitting the highest level in August since December 2006. The National Association of Realtors® (NAR) said sales of pre-owned single-family houses, townhomes, condos, and cooperative apartment were at a seasonally adjusted annual rate of The August numbers came on top […]
  • Homeowner Equity Surged in Q2 September 22, 2020
    Posted To: MND NewsWireThere was another big surge in the amount of equity on the balance sheets of American homeowners in the second quarter of this year. CoreLogic reports that the 4.3 percent gain in home prices over the past year sent home equity shooting up by 6.6 percent. The report shows U.S. homeowners with […]
  • MBS Day Ahead: A Brief History of Bonds' Break-Up With Econ Data September 22, 2020
    Posted To: MBS CommentaryRemember simpler times when following interest rate movements meant waiting for economic data to come out and counting on logical, repeatable, predictable impacts? For instance, today's Existing Home Sales report has always fallen somewhere in the lower rungs of the market movement echelon, but even then, a big deviation from the consensus […]
  • Ops, LO Jobs; ROI, Workflow, Underwriting Tools; Training; Improving Forbearance Stats September 22, 2020
    Posted To: Pipeline PressToday (Tuesday), while Washington DC “sucks the air out of the room,” welcome to the Autumn Solstice (Equinox) in the U.S., the day when the Sun appears to cross the celestial equator, heading southward. Others know it as halfway between the day with the most sunlight in June and the day with […]
  • MBS RECAP: Stocks vs Bonds; Bonds vs Supply September 21, 2020
    Posted To: MBS CommentaryStocks vs Bonds; Bonds vs Supply There's a fairly strong case to be made for stock market weakness helping bond yields remain lower than they otherwise might be in September. As such, we'll be watching the bond market's reaction very carefully in the event of a rebound. Stocks notwithstanding, MBS are coping […]
  • Fannie's Forecast Sees a Brightening Recovery September 21, 2020
    Posted To: MND NewsWireFannie Mae has upgraded its forecast for the third quarter gross domestic product (GDP). It now expects growth at an annualized pace of 30.4 percent , up from the 27.2 percent the company's economists predicted in August. They say that growth has clearly slowed from the days soon after the business shutdowns […]
  • MLO, Ops Jobs; Retention, Co-op Products; USDA Rural Conditional Commitments September 21, 2020
    Posted To: Pipeline PressIf you watch the news long enough, you see all kinds of interesting things. Cracker Barrel is adding alcohol to its menu? Yup! And you must watch this clip with Stephen Colbert working out with, and interviewing, the Notorious RBG (“Is a hot dog a sandwich?”) a few years back. We watched […]
  • MBS Week Ahead: Who Knows Where We'd Be Without Stock Market Weakness September 21, 2020
    Posted To: MBS CommentaryOne of my favorite pastimes is debunking the notion that stock prices and bonds yields 'always' correlate. Years of indoctrination from the conventional wisdom of money managers have done us no favors as market watchers. Even if you don't invest or actively make decisions about your 401k allocation, you're still likely familiar […]
  • Here's What The Fed's 0% Rate Outlook Means For Mortgages and Housing September 18, 2020
    Posted To: Mortgage Rate WatchMortgage rates are most influenced by the bond market and the bond market is most influenced by the Federal Reserve (aka "The Fed"). So when the Fed says it expects rates to be "zero" at least until the end of 2023, does the same go for mortgage rates? That would be […]
  • MBS RECAP: Range Trading Settling in For Long(er) Haul September 18, 2020
    Posted To: MBS CommentaryRange Trading Settling in For Long(er) Haul With no significant bond market volatility in response to this week's Fed announcement. The question of "where do we go now" remains. The answer remains as well. Until further notice, it's "sideways!" Econ Data / Events 20min of Fed 30yr UMBS Buying 10am, 1130am (M-F) […]
  • Fewer Homes Being Flipped, But Profits Are Up September 18, 2020
    Posted To: MND NewsWireOne out of every 15 home sales in the second quarter of the year were defined as "flips" by ATTOM Data Solutions. A flip is any arms-length transaction that occurred in the quarter where a previous arms-length transaction on the same property had occurred within the last 12 months. ATTOM's second quarter […]
  • Forbearance Plan Count Continues to Shrink September 18, 2020
    Posted To: MND NewsWireThere was a fourth straight decline in the number of mortgage loans in forbearance during the week ended September 15. Black Knight says the total dropped by 26,000 or 0.7 percent to an estimated 3.7 million loans. That is down 22 percent from the peak of over 4.7 million in late May. […]
  • Refis Increased Slightly in August, FICO Scores Highest This Year September 18, 2020
    Posted To: MND NewsWireThe refinance share of loans originated in August rebounded slightly from July levels as interest rates fell to the lowest in Ellie Mae's history. The company's Origination Insight Report says the average rate on all loans fell to 3.09 percent during the month, down from 3.24 percent in July. The 30-year note […]

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