Posted To: MBS CommentaryLast week brought the pain. It was the worst single week for the bond market (if we count MBS) since 2013. Although this week won't break any records, it was a refreshing change of pace, with almost every day seeing decent improvement. Today's gains were the best, [...]
Fri, Sep 20, 2019
Source: Mortgage News Daily
Posted To: Mortgage Rate WatchWhat a difference a week makes! At the end of last week, things were pretty grim, with mortgage rates having just seen their worst single week since 2013. The uplifting caveat at the time was that such bouts of nastiness are not that uncommon in the [...]
Fri, Sep 20, 2019
Source: Mortgage News Daily
Posted To: MND NewsWireTotal home equity, not surprisingly, increased again in the second quarter of the year. CoreLogic's quarterly Homeowner Equity Insights report, which looks only at properties with one or more mortgages, puts the aggregate increase at $428 billion year-over-year, a 4.8 percent gain. The company says that 63 [...]
Fri, Sep 20, 2019
Source: Mortgage News Daily
Posted To: MBS CommentaryIn the day just passed, bonds trading was exceptionally calm in the wake of Wednesday's Fed day. As I mentioned in the recap , it was one of the least volatile moves relative to expectations of any Fed day reaction I can remember. The consolidative vibes suggest [...]
Fri, Sep 20, 2019
Source: Mortgage News Daily
Posted To: Pipeline PressA mile is 5,280 feet. And Central Park Tower on West 57th St. in Manhattan now stands at 1,550 feet, about a third of a mile. I mention this because it is now the tallest residential building in the world , and if you'd like to pony [...]
Fri, Sep 20, 2019
Source: Mortgage News Daily
Posted To: MND NewsWireThirty-year mortgage loans closed in August carried an average interest rate of 4.07 percent according to Ellie Mae's Origination Insight Report. Rates were down for the eighth consecutive month , easing back from an average of 4.18 percent in July. Ellie Mae said the month-over-month decline in [...]
Fri, Sep 20, 2019
Source: Mortgage News Daily
Posted To: MBS CommentaryRelative to the expectation for yesterday's Fed events to cause volatility, the movement we've seen in the bond market has been fairly pitiful in response. Seriously folks... I can't think of a bigger gap between they hype and the outcome with respect to Fed days. Today was [...]
Thu, Sep 19, 2019
Source: Mortgage News Daily
Posted To: Mortgage Rate WatchHere is exactly what yesterday's Fed rate cut did to mortgage rates: ABSOLUTELY NOTHING! No Fed rate cut (or hike) will EVER do ANYTHING directly to mortgage rates because the Fed doesn't set mortgage rates. Don't let the caps-lock fool you into thinking I'm some angry [...]
Thu, Sep 19, 2019
Source: Mortgage News Daily
Posted To: MND NewsWireWhile the increase wasn't as strong as in July, last month's existing home sales posted a second straight month of gains and, as previously, the National Association of RealtorsĀ® (NAR) credited falling interest rates. Sales of previously owned single-family houses, townhouses, condominiums, and cooperative apartments were up [...]
Thu, Sep 19, 2019
Source: Mortgage News Daily
Posted To: MBS CommentaryIn the day just passed, the bond market finally got a chance to sink its teeth into the much-anticipated Fed announcement/forecasts/press conference. Traders were hoping to get a read on whether the Fed rate cut cycle is being treated like a fine-tuning adjustment or the beginning of [...]
Thu, Sep 19, 2019
Source: Mortgage News Daily

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