Posted To: MBS CommentaryWe had to wait all the way until January 24th of 2020, but bonds finally offered their first real shred of willingness to challenge the established range of late 2019. When we talk about ranges, we use 10yr Treasuries for these reasons . In 10yr terms, the [...]
Fri, Jan 24, 2020
Source: Mortgage News Daily
Posted To: Mortgage Rate WatchMortgage rates moved meaningfully lower over the past 2 days as panic over the coronavirus outbreak continues affecting financial markets. If this epidemic ends up being similar to SARS in 2003, it ultimately won't be worth as much of a drop in interest rates as we've [...]
Fri, Jan 24, 2020
Source: Mortgage News Daily
Posted To: MBS CommentaryAs the week comes to a close, we find bonds continuing to trickle toward the lower end of the range that has prevailed for nearly 3 months. In terms of 10yr yields, the upper boundary is clearly established at 1.95%. The lower boundary is slightly more open [...]
Fri, Jan 24, 2020
Source: Mortgage News Daily
Posted To: MND NewsWirePaying bills on time is about to become more important for American consumers, and this as their debt levels are reaching new highs. Fair Isaac Corporation, the company which creates the FICO credit score models, will introduce two new ones this summer, the FICO Score 10, and [...]
Fri, Jan 24, 2020
Source: Mortgage News Daily
Posted To: Pipeline PressYes, the change in FICO scores garnered some attention, but much of the focus is on Wells Fargo which just can't stay out of the spotlight… for all the wrong reasons. Ten days ago we learned that the Bank had $2.9 billion of income in the fourth [...]
Fri, Jan 24, 2020
Source: Mortgage News Daily
Posted To: MND NewsWireThe average interest rate on closed loans inched up in December and the share of those loans that were for refinancing moved lower. Ellie Mae's Origination Insight Report for the month says the average 30-year fixed rate in December rose to 3.99 percent from 3.97 percent in [...]
Thu, Jan 23, 2020
Source: Mortgage News Daily
Posted To: MND NewsWireEven though many of the measures are already at record lows, mortgage delinquencies continue to tick downward according to Black Knight's "first look" at December loan performance data. At the same time, the Single Month Mortality (SMM) rate, an indicator of mortgage loan prepayments, continues to increase, [...]
Thu, Jan 23, 2020
Source: Mortgage News Daily
Posted To: Pipeline PressDid you know that you can vote by smart phone in Seattle ? Did you know that less than 20 percent of the world's population has ever taken a single flight ? (U.S. citizens? About 50%.) Did you know that many economists have forecast that this year [...]
Thu, Jan 23, 2020
Source: Mortgage News Daily
Posted To: MBS CommentaryThe bond market--widely expected to have been launching yields up and over 2% in 2020--is instead in the process of testing it's best levels since early December. This has been made possible by a combination of unexpected bond-friendly factors, or so it would seem. The US/Iran flare-up [...]
Thu, Jan 23, 2020
Source: Mortgage News Daily
Posted To: Mortgage Rate WatchMortgage rates remained in line with 3-month lows today for the average lender. Several lenders offered marginally better terms compared to yesterday, but in those cases, the only changes were to the upfront costs associated with the same rates quoted yesterday. It's a pleasant surprise to [...]
Wed, Jan 22, 2020
Source: Mortgage News Daily

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