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Mortgage News Daily

• MBS RECAP: Friendly Confluence of Events Helps Bond Markets Repair Some Damage September 20, 2019
  Posted To: MBS CommentaryLast week brought the pain. It was the worst single week for the bond market (if we count MBS) since 2013. Although this week won't break any records, it was a refreshing change of pace, with almost every day seeing decent improvement. Today's gains were the best, but also the most serendipitous. […]
• Mortgage Rates End Week Near Best Levels September 20, 2019
  Posted To: Mortgage Rate WatchWhat a difference a week makes! At the end of last week, things were pretty grim, with mortgage rates having just seen their worst single week since 2013. The uplifting caveat at the time was that such bouts of nastiness are not that uncommon in the wake of ultra strong performances […]
• Homeowner Equity Reaches All-Time High in Q2 September 20, 2019
  Posted To: MND NewsWireTotal home equity, not surprisingly, increased again in the second quarter of the year. CoreLogic's quarterly Homeowner Equity Insights report, which looks only at properties with one or more mortgages, puts the aggregate increase at $428 billion year-over-year, a 4.8 percent gain. The company says that 63 percent of residential properties have […]
• MBS Day Ahead: Bonds Just Hoping for an Orderly Escape; Bigger Decisions on Hold September 20, 2019
  Posted To: MBS CommentaryIn the day just passed, bonds trading was exceptionally calm in the wake of Wednesday's Fed day. As I mentioned in the recap , it was one of the least volatile moves relative to expectations of any Fed day reaction I can remember. The consolidative vibes suggest either indecision or apathy, post-Fed. […]
• Fraud, Broker, and LO Products; Correspondent/Wholesale Changes September 20, 2019
  Posted To: Pipeline PressA mile is 5,280 feet. And Central Park Tower on West 57th St. in Manhattan now stands at 1,550 feet, about a third of a mile. I mention this because it is now the tallest residential building in the world , and if you’d like to pony up $6.9 million for a […]
• Rates Move Lower for Eighth Consecutive Month, Driving Refis September 20, 2019
  Posted To: MND NewsWireThirty-year mortgage loans closed in August carried an average interest rate of 4.07 percent according to Ellie Mae's Origination Insight Report. Rates were down for the eighth consecutive month , easing back from an average of 4.18 percent in July. Ellie Mae said the month-over-month decline in rates continues to drive up […]
• MBS RECAP: Indecisive, Sideways Trading After Fed Day September 19, 2019
  Posted To: MBS CommentaryRelative to the expectation for yesterday's Fed events to cause volatility, the movement we've seen in the bond market has been fairly pitiful in response. Seriously folks... I can't think of a bigger gap between they hype and the outcome with respect to Fed days. Today was merely "The Anticlimax: Part 2." […]
• Think The Fed Cut Mortgage Rates? Think Again September 19, 2019
  Posted To: Mortgage Rate WatchHere is exactly what yesterday's Fed rate cut did to mortgage rates: ABSOLUTELY NOTHING! No Fed rate cut (or hike) will EVER do ANYTHING directly to mortgage rates because the Fed doesn't set mortgage rates. Don't let the caps-lock fool you into thinking I'm some angry guy with a keyboard who's […]
• 2018's Home Sales Slump Now Fully Erased September 19, 2019
  Posted To: MND NewsWireWhile the increase wasn't as strong as in July, last month's existing home sales posted a second straight month of gains and, as previously, the National Association of Realtors® (NAR) credited falling interest rates. Sales of previously owned single-family houses, townhouses, condominiums, and cooperative apartments were up 1.3 percent compared to July […]
• MBS Day Ahead: Bonds Set to Battle Potentially Important Level September 19, 2019
  Posted To: MBS CommentaryIn the day just passed, the bond market finally got a chance to sink its teeth into the much-anticipated Fed announcement/forecasts/press conference. Traders were hoping to get a read on whether the Fed rate cut cycle is being treated like a fine-tuning adjustment or the beginning of a sustained shift. Of course […]