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Mortgage News Daily

• Mortgage Rates Steady at 2017 Lows August 21, 2017
  Posted To: Mortgage Rate WatchMortgage rates held steady to start the new week. This keeps them in line with the best levels since November 2016. There were no interesting developments in financial markets or in terms of economic data today. Most news coverage was focused on the solar eclipse. It's a good thing the eclipse […]
• Residential Investment Weighed Down Q2 GDP August 21, 2017
  Posted To: MND NewsWireReal residential investment subtracted from GDP in the second quarter of the year to the greatest extent since the third quarter of 2010. Fannie Mae's August Economic Developments notes a 6.8 percent annualized decline, but the company's economists expect that sector's contribution to rebound in the third quarter. Residential investment was only […]
• MBS Day Ahead: Nothing to do With The Eclipse August 21, 2017
  Posted To: MBS CommentaryWelcome! Here is a safe haven from all of the eclipse talk. It won't be mentioned at all in this article. Never mind that it's in the title and the first 3 sentences, because we're about to move on. Bond markets begin another "summertime" week where "summertime" refers not only to atmospheric […]
• Freddie, Fannie, and Lender Shifts in Appraisal and Inspection Policies August 21, 2017
  Posted To: Pipeline PressWhat does $980k buy in the SF suburb of Vallejo, CA? A property designed by Julia Morgan (think Hearst Castle) with floating stairways, over-sized eves, massive beams, decks, and the use of exquisite wood wainscoting. The photos are sure impressive . Freddie and Fannie News, Lender Changes For wholesale and non-delegated clients, […]
• MBS RECAP: Bonds Manage to Close 'Unchanged' Despite Some Volatility August 19, 2017
  Posted To: MBS CommentaryIn the Day Ahead, we discussed bond traders' probable goals regarding keeping things as calm as possible. This depended on unexpected headlines and movements in external markets. Either of those were capable of throwing curveballs , and both threw a few today! Out of the gate, bonds were flat, but once equities […]
• More 2017 Lows for Rates; More Trump Drama August 18, 2017
  Posted To: Mortgage Rate WatchMortgage rates moved lower again. Drama surrounding the Trump administration was also present. But this time around, the political theater wasn't responsible for the move lower in rates. In fact, it resulted in multiple lenders adjusting rate sheets higher in the middle of the day. Fortunately, rates fell enough in the […]
• Freddie Mac to Automate Appraisals for Some Purchase Mortgages August 18, 2017
  Posted To: MND NewsWireFreddie Mac announced today that, going forward, not every application for a purchase mortgage will necessarily trigger an appraisal . A new automated alternative to traditional appraisals, which the company introduced for refinances in June, will soon be available for purchase mortgages. It may save borrowers in some instances as much as […]
• Freddie Mac Puts Price on All-Cash Transactions August 18, 2017
  Posted To: MND NewsWireAs investors flooded into the housing market after it collapses, they brought cash with them. At one point, 35 percent of home sale transactions were closed without a mortgage, i.e. were all-cash sales. Home prices are up, the bargains are gone, but cash sales remain significantly elevated compared to historic levels. In […]
• Appraisal News; Lock Process Changes; HARP, CRT August 18, 2017
  Posted To: Pipeline PressBrad Pitt - a wannabe architect? In 2007, Pitt founded the Make It Right Foundation to build homes for families whose original residences had been washed away in Hurricane Katrina. Here's one - the "Tiny House" - very cool . Mr. Pitt's accountants know a thing or two about dealing with the […]
• MBS Day Ahead: Most Traders Thinking "Don't Rock The Boat" August 18, 2017
  Posted To: MBS CommentaryA maritime analogy for bond trading in the Summertime... In the summer months especially, there's a boat-friendly baseline weather pattern offshore. Lest you think that's a generality that doesn't merit your full confidence, check out the following shots of wave height at the moment. Blue is calm, and pink/red/crimson indicates big waves. […]