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Mortgage News Daily

• MBS RECAP: "Totally Expected" Budget Bill Shocks Markets October 20, 2017
  Posted To: MBS CommentaryThere's a good video in the news stream with Austan Goolsbee going on a bit of rant about how the Senate's procedural vote on a budget resolution late last night was totally expected. Someone should have told financial markets ahead of time. Traders speak with dollars and their words were clear in […]
• Mortgage Rates Rocked (Relatively) By Tax Plan Optimism October 20, 2017
  Posted To: Mortgage Rate WatchMortgage rates moved higher today as financial markets grew more optimistic about the potential for tax reform. Late last night, the Senate passed a resolution that included language designed to make tax reform legislation easier to pass. In a nutshell, it means the Senate only needs 51 votes as opposed to […]
• Consumers: On-Line Mortgage Info Convenient, not Trustworthy October 20, 2017
  Posted To: MND NewsWireWhile it sometimes seems as though Americans live online, there is still apparently one area where they still value human contact. A recent survey conducted by Fannie Mae found borrowers continue to put a lot of trust in their real estate agent and their mortgage lender. The survey, conducted with borrowers who […]
• Existing Sales Beat Forecast Despite Taking a Hit From Hurricanes October 20, 2017
  Posted To: MND NewsWireIt was only a small gain , albeit larger than analysts expected, but after three straight months of sliding sales, the existing home sales report for September is still good news. The National Association of Realtors® (NAR), said the month saw closed transactions for the purchase of single-family houses, townhouses, condos and […]
• Refinancing Share at Early 2017 Levels October 20, 2017
  Posted To: MND NewsWireRefinancing increased its share of total originations in September, rising 3 percentage points from August to 38 percent of all closed loans. Ellie Mae, in its Originations Insight report says the refinance share was the highest since February and set forth two possible reasons. First, interest rates on closed loans during the […]
• New Wholesaler, Lender/Vendor Tools; Capital Markets Product October 20, 2017
  Posted To: Pipeline PressNot only are houses becoming smaller, but the lots are smaller also. Trulia tells us that houses built since 2015 occupy, on average, 25 percent of the land they were built on. That figure was only 13.9 percent in 1975. And according to Capital Economics Ltd. , the size of an American […]
• MBS Day Ahead: Bonds Back on The Ropes October 20, 2017
  Posted To: MBS CommentaryIt's a crappy day. Sorry to use such an esoteric analytical term, but it's the most accurate way to describe the outlook. So what changed? Long story short, we'd been in a narrow, consolidative range since late September. That range had a chance to be a straight up correction back toward lower […]
• MBS RECAP: Catalonia (or China!) Helped Early; Powell Saved The Day October 19, 2017
  Posted To: MBS CommentaryIt was a pretty interesting session for how narrow the range continues to be in bond markets--interesting both for bonds themselves and for the analysts scrambling to make sense of the movement. Apart from last Friday's CPI data, there hasn't been an unequivocal market mover for bonds. There hasn't been an obvious […]
• Mortgage Rates Hold Ground Amid Market Volatility October 19, 2017
  Posted To: Mortgage Rate WatchMortgage rates were unchanged to slightly lower today. Political drama in Europe pushed stocks lower overnight and sent investors toward safer haven assets like bonds. Higher demand for bonds pushes rates lower, all things being equal. All of the above meant a stronger start for bond markets and slightly lower mortgage […]
• Remodelers Report Backlogs, Labor Shortages as Market Grows October 19, 2017
  Posted To: MND NewsWireHome remodeling activity reported by builders increased in the third quarter and remains above the benchmark 50 level for the 18 th consecutive quarter. The National Association of Home Builders' (NAHB) Remodeling Market Index (RMI) rose 2 points to 57 as more builders reported increased market activity compared to the previous period […]