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MBS RECAP: Friendly Fed Wins Out Over Econ Data Bounce
Thu, 18 Jul 2019 22:13:37 GMT

Posted To: MBS CommentaryIt was a tale of two market movers today as afternoon Fed comments completely reversed an earlier reaction to super strong economic data. The Philly Fed survey blew expectations out of the water and handily crushed last month..[read more]

Mortgage Rates Lowest This Week Despite Stronger Economic Data
Thu, 18 Jul 2019 21:37:00 GMT

Posted To: Mortgage Rate WatchEconomic data and mortgage rate movement go hand in hand. A stronger economy puts upward pressure on rates. A contracting economy helps rates move lower. While this is far from the only source of inspiration, it's indire..[read more]

MBS Day Ahead: Bonds Consider New Resistance as Week Winds Down
Thu, 18 Jul 2019 12:48:07 GMT

Posted To: MBS CommentaryIn the day just passed, bonds enjoyed one of their best rally days in recent weeks as the stock market endured its 2nd weakest day since May. Stocks weren't the exclusive motivation, but there's no way to pin down cau..[read more]

Construction, Broker Products; Lender Flood News; State Farm/Rocket Mortgage
Thu, 18 Jul 2019 12:46:56 GMT

Posted To: Pipeline PressThere’s a lot going on out there! Rocket Mortgage is creating new technology that will allow the State Farm agents to offer a Rocket Mortgage loan as a licensed loan originator. Some accounting staff believe their praye..[read more]

June Closing Rates Highest in 8 Years
Thu, 18 Jul 2019 12:37:55 GMT

Posted To: MND NewsWireClosing rates for mortgage loans were at the highest level in June since Ellie Mae began collecting the data in 2011. The company, in its June Origination Insight Report , said 76.8 percent of all loans closed , up from a rate ..[read more]

NAR Reports Sharp Drop in International Home Purchases
Thu, 18 Jul 2019 12:24:17 GMT

Posted To: MND NewsWireThere was a huge decline in foreign investment in U.S. real estate during the 12 months ending with the first quarter of 2019. The National Association of Realtors® (NAR) said the reduction was evident in both the purchases..[read more]

Mortgage Rates Drop as Bond Gains Accelerate
Wed, 17 Jul 2019 21:27:00 GMT

Posted To: Mortgage Rate WatchMortgage rates improved today, depending on the lender and the time of day! Underlying bond markets were only modestly stronger in the morning. As such, the average lender only offered modest improvements over yesterday'..[read more]

MBS RECAP: Stocks' Mini-Meltdown Helps Bonds Rally Big
Wed, 17 Jul 2019 21:26:19 GMT

Posted To: MBS CommentaryWhat began as a rather unassuming summertime Wednesday quickly turned in to one of the biggest rally days in weeks for bonds. 10yr yields moved more than 6bps lower to end the day well under the important 2.06% technical leve..[read more]

June Construction Numbers Tried to Hang on, But Failed to Impress
Wed, 17 Jul 2019 15:25:00 GMT

Posted To: MND NewsWireThe residential construction numbers in June were expected to come in largely in the same neighborhood as in May. Analysts however got it only half right. While starts fell fractionally, permits took a dive, falling by 6.1 perc..[read more]

Comp, Broker, Compliance Exam Products; F&F Changes; The Fed and Rates
Wed, 17 Jul 2019 14:04:17 GMT

Posted To: Pipeline PressI encounter plenty of people in the mortgage biz, from part-time receptionists to owners, who are focused on helping consumers. It’s a good thing! And they ask me about consumer education. (“Have you ever heard of..[read more]

MBS Day Ahead: Bonds Trying to Shake Off Last Week's Bad Vibes
Wed, 17 Jul 2019 13:23:55 GMT

Posted To: MBS CommentaryIn the day just passed, a strong Retail Sales report kept the pressure on bond markets to remain in the negative trend that prevailed last week. Yields have been moving progressively higher since the June 5th jobs report cata..[read more]

Fannie Mae Sees Economic Slowdown...Slowing
Wed, 17 Jul 2019 12:34:09 GMT

Posted To: MND NewsWireThis month marks the tenth anniversary of the current expansion. How much longer can it last? Fannie Mae's July Economics Development report indicates it has a way to go, although likely at a slowing pace. The second quarter of..[read more]

Higher Rates Stunt Post-Holiday Application Volume Recovery
Wed, 17 Jul 2019 12:16:34 GMT

Posted To: MND NewsWireMortgage application activity retreated again during the week ended July 12, although refinancing remained strong. The Mortgage Bankers Association (MBA) said its Market Composite index, a measure of application volume, was dow..[read more]

MBS RECAP: Late Day Reslience But Negative Trend Remains Intact
Tue, 16 Jul 2019 22:27:00 GMT

Posted To: MBS CommentaryBonds began the day in roughly unchanged territory. On the one hand, that was impressive considering the lack of substance underlying yesterday's rally. On the other hand, that lack of substance meant we were at risk of a..[read more]

Mortgage Rates Under Modest Pressure After Retail Sales Data
Tue, 16 Jul 2019 20:34:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were flat to slightly higher today, following a stronger-than-expected Retail Sales report. The bond market (which dictates mortgage rates) was eagerly awaiting the week's first major economic data. Even t..[read more]

Builder Confidence Holds Steady, Labor Shortages Persist
Tue, 16 Jul 2019 15:25:12 GMT

Posted To: MND NewsWireBuilder confidence rose slightly in July. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), which it sponsors with Wells Fargo, gained one point, rising to 65. This marks the sixth consecutiv..[read more]

U/W, Training, Non-QM, Marketing Products; Ginnie's Growth
Tue, 16 Jul 2019 13:01:05 GMT

Posted To: Pipeline PressAlthough lots of small lenders don’t seem interested in being acquired any longer (“Hey, our pipeline is full and we’re making money again! Autumn is a long way off!”), M&A is alive and well. The lates..[read more]

MBS Day Ahead: Week's First Meaningful Data Plus Earnings Season in Swing
Tue, 16 Jul 2019 12:35:26 GMT

Posted To: MBS CommentaryIn the day just passed, bonds traversed a sleepy summertime Monday trading session without much volume or liquidity. That dynamic was somewhat exacerbated by the fact that Japanese markets were closed (which means there was n..[read more]

MBS RECAP: Sleepy Session, But Tomorrow Could be Different
Mon, 15 Jul 2019 20:42:31 GMT

Posted To: MBS CommentaryToday was one of those unofficial 3-day weekend type of Mondays with light volume, light trader participation, and "drifty" trading momentum. A market holiday in Tokyo (Asian market hours' requisite hub for cash Treasury ..[read more]

Mortgage Rates Little-Changed Despite Bond Market Gains
Mon, 15 Jul 2019 20:18:00 GMT

Posted To: Mortgage Rate WatchMortgage rates were mostly flat to begin the new week, even though underlying bond markets were in stronger territory. Bonds, more than anything else, dictate the day-to-day direction for mortgage rates. That said, there..[read more]

MBS Week Ahead: New Breakout or New Ceiling?
Mon, 15 Jul 2019 13:12:17 GMT

Posted To: MBS CommentaryIn the week just passed, the first 4 days (and especially Tue/Thu) served as the scene for a breakout from the previous trend (seen in the yellow lines on today's chart). Investors eagerly awaited Powell's congression..[read more]

Non-QM, Broker, Marketing, Tech Products; Wholesale News; Webinars
Mon, 15 Jul 2019 12:47:12 GMT

Posted To: Pipeline PressYou don’t think your spouse listens to you? What about Google? You bet: “Google Very Angry After Contractor Leaks Over a Thousand Assistant Recordings.” Interesting that many of the “best and brightest..[read more]

MBS RECAP: After 5 Frantic Days, Bonds Punch Out Early
Fri, 12 Jul 2019 22:28:26 GMT

Posted To: MBS CommentaryLast Friday's jobs report meant business (bad business for low rates). Even though Powell ultimately told us that one jobs report wouldn't fundamentally alter the risks to the economic outlook in Wednesday's congr..[read more]

Highest Mortgage Rates in More Than 3 Weeks
Fri, 12 Jul 2019 21:56:00 GMT

Posted To: Mortgage Rate WatchMortgage rates moved decisively higher this week as the underlying bond market finally began shifting gears. After the Fed meeting in June, rates moved to the lowest levels in more than 2 years and had been holding in a ..[read more]

Everything You Need to Know About Housing - and Then Some
Fri, 12 Jul 2019 15:28:32 GMT

Posted To: MND NewsWireThe U.S. Census Bureau recently released a treasure trove of data, its 2018 report on Characteristics of New Housing. The report, based on data collected by the Bureau's Survey of Construction, covers a huge array of stats abou..[read more]

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