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Mortgage News Daily

• Construction Spending Largely Unchanged as Shutdowns End August 3, 2020
  Posted To: MND NewsWireConstruction spending held firm in June, inching down fractionally from the May level and increasing a bit compared to June 2019. The U.S. Census Bureau said total spending during the month was at a seasonally adjusted annual rate of $1.355 trillion, down 0.7 percent from the $1.365 trillion spending rate in May. […]
• MBS RECAP: Bonds Defend New Territory August 3, 2020
  Posted To: MBS CommentaryBonds Defend New Territory Now that bonds have broken through previous resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes next? Rather than look for fast-paced follow-through, it would be enough of a victory to merely see bonds maintain these newly acquired levels. Today we'll discuss what those […]
• More Home Buyers are in the Market, but Shopping Takes Longer August 3, 2020
  Posted To: MND NewsWireIn the second quarter of 2020, 11 percent of American adults were planning on purchasing a home over the next 12 months, and of those, almost half were actively engaged in doing so. Rose Quint, writing in the National Association of Home Builders' (NAHB's) Eye on Housing blog says that the 49 […]
• Housing Affordability Best in Four Years, Purchase Rate Locks Surge August 3, 2020
  Posted To: MND NewsWireThe last report from Freddie Mac put its 30-year fixed rate mortgage (FRM) at 2.99 percent, up 1 basis point from the all-time low. Black Knight, in its new Mortgage Monitor , says that has made home affordability the best in four years. As of mid-July, it required only 19.8 percent of […]
• More Evidence of Strength in Housing as GDP Tumbles August 3, 2020
  Posted To: MND NewsWireThe National Home Builders Association (NHBA) has been saying since the COVID-19 virus first began to ravage the economy, that it might be housing that would drive the eventual recovery. Now they have some real evidence. The record setting 32.9 percent second quarter decline in the gross domestic product (GDP) revealed on […]
• MBS Day Ahead: Bonds Defend New Territory August 3, 2020
  Posted To: MBS CommentaryNow that bonds have broken through previous resistance levels (.58 in 10yr yields and 103.00 in 2.0 UMBS), what comes next? Rather than look for fast-paced follow-through, it would be enough of a victory to merely see bonds maintain these newly acquired levels. Today we'll discuss what those levels might look like […]
• LO Jobs; Fraud, Retention, Legal Products; August Training and Events August 3, 2020
  Posted To: Pipeline PressRemember a month ago, heading into the July 4th weekend, a resurgence of Covid-19 cases (which many officials attributed to large Memorial Day gatherings) resulted in mask-wearing mandates as well as rollbacks and delays in phased reopening plans. (Speaking of the virus, we wish loanDepot’s Anthony Hsieh a continued welcomed recovery from […]
• Should You Wait For Lower Rates? July 31, 2020
  Posted To: Mortgage Rate WatchMortgage rates have fallen more aggressively than ever and they've been remarkably willing to set record after record. So is there any reason you shouldn't wait for them to go even lower? This is an age old question any time rates fall to long-term lows. In the past, the answer has […]
• MBS RECAP: All-Time Levels All Around. Here's How To Play It July 31, 2020
  Posted To: MBS CommentaryAll-Time Levels All Around. Here's How To Play It Another day, another opportunity for MBS prices to hit record highs and rates to--well... rates are just sort of kicking around a piece of ground in their home town (at all time lows), but notably, they're not looking too eager to improve. Why […]
• FHA/VA Forbearances Continue to Climb July 31, 2020
  Posted To: MND NewsWireAs of Wednesday, there were 4.102 million mortgages in forbearance plans. This is 7.7 percent of the 53 million loans in servicer portfolios. Black Knight said its weekly survey noted a 17,000-loan decrease in total forborne loans over the previous week. What remains represents $879 million in unpaid principal. The number of […]