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Mortgage News Daily

• MBS RECAP: Tame, Abbreviated Trading Session Leaves Gains Largely Intact May 24, 2019
  Posted To: MBS CommentaryToday's headline could just as easily serve as the entire recap. By the time we get past the fact that Durable Goods came out much weaker than expected, there really weren't too many moving parts to today's trading session. In fact, the absence of movement following the Durable Goods data was somewhat […]
• Rates Are Back to Lowest Levels in More Than a Year May 24, 2019
  Posted To: Mortgage Rate WatchMortgage rates fell again today as mortgage lenders got caught up with yesterday's market movements. Mortgage rates are based on bond market trading levels, but mortgage lenders only adjust rates once per day unless there's quite a bit of movement. Yesterday saw such movement, and in those cases, lenders typically adjust […]
• The Rental Inventory is Problematic Too May 24, 2019
  Posted To: MND NewsWireThere probably hasn't been a report on home sales or prices in the last four years that hasn't referred to the role of housing inventory in the depressed level of the former or the rapid acceleration of the latter. According to data from CoreLogic, there was a 4.5-month supply of homes available […]
• Digital, U/W, Recruiting Products; Workflow Automation Survey May 24, 2019
  Posted To: Pipeline PressThe Memorial Day weekend... Wasn’t it just Christmas? Let’s wrap up what’s on the front burner for execs at the MBA’s Secondary Conference as we see the trade-war driven low rates of 2019. Yes, MLO compensation and licensing is an “issue.” When asked about the status of MLOs being able to move […]
• MBS Day Ahead: Bonds Attempt to Hold Gains As Markets Close Early for Memorial Day Weekend May 24, 2019
  Posted To: MBS CommentaryIn the day just past, both stocks and bonds too part in a big risk-off trading pattern (stock prices and bond yields moving lower). Inspiration came from general trade war fallout, concerns over British political upheaval, and especially weak Markit PMI readings. We can also assume the skids were greased by short-covering […]
• MBS RECAP: Bottom Falls Out For Both Stocks and Bonds May 23, 2019
  Posted To: MBS CommentaryBoth stock prices and bond yields moved sharply lower today for a combination of reasons. Trade tensions are ongoing, with visible effects being increasingly noted. British politics are also weighing on markets with Theresa May likely leaving office within the week. Most obviously today, the Markit manufacturing and non-manufacturing PMIs suggested economic […]
• Mortgage Rates Drop Quickly as Market Panic Sets In May 23, 2019
  Posted To: Mortgage Rate WatchMortgage rates dropped quickly today as global financial markets underwent a volatile shift. When money is flowing out of stocks and into bonds (as it was today) rates move lower. There are several underlying reasons for the move and it's impossible to assign a value to each of them with perfect […]
• New Home Sales End Three-Month Winning Streak, Still Up from 2018 May 23, 2019
  Posted To: MND NewsWireAfter three straight months of gains, April's new home sales were expected to give back a little and they did. The U.S. Census Bureau said sales of newly constructed homes were at a seasonally adjusted annual rate of 673,000 units, a 6.9 percent decline from March. The retrenchment was made even more […]
• MBS Day Ahead: And Now We're Trendless May 23, 2019
  Posted To: MBS CommentaryIn the day just passed, bonds rallied somewhat sharply as headlines suggested Theresa May was soon to be ousted as Britain's prime minister. Is it possible that other headlines regarding American politics were having an effect? Maybe to a very small extent, but the lion's share of the movement was a British/European […]
• Construction, Subservicer, Reverse Products; Technology Options Report May 23, 2019
  Posted To: Pipeline PressAs millions around the globe revel in World Turtle Day, others are more interested about what went on the hallway chatter at the MBA’s Secondary Conference as we see the low rates of 2019. How a few of the big banks (Wells, Chase, Flagstar, to name a few) saw their residential mortgage […]