Posted To: Mortgage Rate WatchMortgage rates were mixed today with some lenders improving and others moving higher. This isn't so much a factor of anything that happened today as much as it is about what lenders did yesterday. Specifically, the bond market (which underlies rate movement) was stronger in the [...]
Tue, Jun 02, 2020
Source: Mortgage News Daily
Posted To: MBS CommentaryHere's The Only Reason Mortgage Rates Have Moved Lower Recently "Because they were so much higher than they should have been in March and April..." Seriously, that's the reason mortgage rates have been able to move lower even as Treasury yields and MBS prices suggest moderately higher [...]
Tue, Jun 02, 2020
Source: Mortgage News Daily
Posted To: MND NewsWireCoreLogic's report on April home prices, the first for that month, says that despite fears that home prices would "bottom out like they did in the Great Recession," they continued to accelerate reaching their highest annual growth since August 2018. The U.S. CoreLogic HPI was up 5.4 [...]
Tue, Jun 02, 2020
Source: Mortgage News Daily
Posted To: MBS CommentaryToday is the lightest of the week in terms of scheduled market movers on the econ calendar (there really aren't any to speak of unless you count the New York ISM data and we barely do). In addition, bonds are fairly flat in the bigger picture. Point [...]
Tue, Jun 02, 2020
Source: Mortgage News Daily
Posted To: Pipeline PressCurfews and civil unrest have replaced COVID in the news. Meanwhile, investors are watching record low debt issuance yields from companies like Amazon and Costco (1.50-1.62 percent 10-year notes, lowering their cost of capital dramatically). Low rates for a mortgage these days are certainly more common than [...]
Tue, Jun 02, 2020
Source: Mortgage News Daily
Posted To: MND NewsWireOverall spending on construction fell in April, down 2.9 percent to a seasonally adjusted annual rate of $1.346 trillion from 1.387 trillion. This still left the rate 3.0 percent higher than it was in April 2019. On a non-adjusted basis, spending was $110.492 billion compared to $107.758 [...]
Tue, Jun 02, 2020
Source: Mortgage News Daily
Posted To: Mortgage Rate WatchMortgage rates pulled off a repeat performance of last Friday's intraday drama. The average lender began the day in higher territory as bond markets were weaker in the morning. Bonds recovered nicely and mortgage lenders were more than willing to adjust rate sheets accordingly. After being [...]
Mon, Jun 01, 2020
Source: Mortgage News Daily
Posted To: MBS CommentaryThere's no way to predict the future for rates and markets, but there are occasionally tactical opportunities. Today's version involves lenders being forced to price rate sheets when MBS had just swung down to the lowest levels of the day. Prices have since bounced. If they were [...]
Mon, Jun 01, 2020
Source: Mortgage News Daily
Posted To: MND NewsWireAs was reported last week, new home sales in April were much, much better than expected. There may or may not be a cause and effect going on here, but two recent posts in the National Association of Home Builders' (NAHB's) Eye on Housing blog indicate that [...]
Mon, Jun 01, 2020
Source: Mortgage News Daily
Posted To: MND NewsWireThe Urban Institute (UI) releases a regular report, Housing Finance at a Glance , a "chartbook" loaded with charts and commentary on mortgage activity . Much of the May chartbook's material, is retrospective, reaching back as far as Q4 2019 where there is a time lag in [...]
Mon, Jun 01, 2020
Source: Mortgage News Daily

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