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Mortgage News Daily

• MBS RECAP: Bonds Surge Into August Despite Headwinds August 2, 2021
  Posted To: MBS CommentaryBonds Surge Into August Despite Headwinds It was an interesting juxtaposition to see a Fed speaker talking about tapering being announced as early as September while bond yields hit the 3pm close at the lowest levels since February. Headwinds are definitely present, whether we're talking about tapering risk or simply the selling […]
• Refinancing Numbers Responded Quickly to Adverse Fee Removal August 2, 2021
  Posted To: MND NewsWireIn its latest Mortgage Monitor, Black Knight analyzes the impact the elimination of the 50 basis point adverse market fee from the cost of Fannie Mae and Freddie Mac (the GSEs) refinances. The Federal Housing Finance Agency (FHFA) removed the fee, originally scheduled to go into effect on September 1, 2020 to […]
• Housing is the Only Game in Town For Construction Spending August 2, 2021
  Posted To: MND NewsWireJune was yet another month when the only bright spot in the U.S. Census Bureau's construction spending report was provided by the residential sector. Literally the ONLY bright spot. Total spending during the month on all construction was at a seasonally adjusted annual rate of $1.552 trillion, 0.1 percent higher than the […]
• Pandemic Could Become an Eviction Epidemic August 2, 2021
  Posted To: MND NewsWireWith the federal moratorium on evictions expiring on July 31, it is becoming apparent that there is a real housing crisis looming. Not one like we saw in 2007 and 2008 when housing prices plummeted, and millions of homeowners defaulted on their mortgages. This time around, the federal government and both government […]
• Number of Loans in Forbearance Spiked Last Week August 2, 2021
  Posted To: MND NewsWireThe number of active forbearance plans jumped higher this week , increasing by a net of 31,000 loans. Black Knight says that, as of July 27, there were 1.893 million homeowners in forbearance, about 3.6 percent of the nation's universe of 53 million mortgage loans. Despite last week's surge, Black Knight notes […]
• MLO Jobs; Verification, Non-QM, HELOC Products; Events and Training; Rates Edge Lower August 2, 2021
  Posted To: Pipeline PressWho predicted that we’d be at 1.22 percent on the 10-year yield to start August? And 30-year fixed-rate mortgages still chopping around in the high 2 percent area? Or that the FHA would announce another extension of its moratorium on evictions for foreclosed borrowers and their occupants? Predictions are rough, and often […]
• MBS Day Ahead: Volatility Goes Both Ways; Does Inflation Help or Hurt? August 2, 2021
  Posted To: MBS CommentaryDue to the presence of bigger ticket economic data (among other things), it was fair to expect more volatility in the current week compared to the previous week. But volatility goes both ways and the new week is starting out with "the good way" for bonds. Traders seem willing enough to react […]
• MBS RECAP: Strong, Calm Week. Next Week Might Be Different July 30, 2021
  Posted To: MBS CommentaryStrong, Calm Week. Next Week Might Be Different Saying "next week might be different" is of questionable value when it comes to financial markets. Every week might be different! That said, some hold more volatility risk than others. There was a moderate amount of risk this week, but it waned after the […]
• AE, Sales, MLO, Ops Jobs; Whole Loan Trading, CRM, Renovation Products; Freddie and Fannie Changes July 30, 2021
  Posted To: Pipeline PressYesterday I received this note from Tennessee. “Rob, thank you for the commentary, as always. Among several noteworthy items in yesterday’s, one thing stood out. ‘NAR has 1.5 million members but only 1.2 million active listings.’ That sure sums things up in my area.” (And most of those listings, when actually purchased, […]
• MBS Day Ahead: Sun Also Rises; Inflation Also Misses July 30, 2021
  Posted To: MBS CommentaryThe sun also rises and inflation also misses its forecast! After several months of reasonably big upside surprises, core PCE inflation finally undershot the median forecast, even if not by much (3.5 vs 3.7). Based on recent reactions to inflation data, this isn't huge news because markets are more interested in the […]