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Mortgage News Daily

• MBS RECAP: Bonds Pull Out Come-From-Behind Victory Thanks to Stocks January 22, 2019
  Posted To: MBS CommentaryFor those who pay any sort of attention to technicals or simply to "key levels" in the bond market, Friday was the gloomiest day we've had in a while. It was the first time that a major overhead ceiling had been broken in more than 2 weeks of mostly sideways momentum. The […]
• Mortgage Rates Dodging Some Risk For Now January 22, 2019
  Posted To: Mortgage Rate WatchMortgage rates were higher heading into the end of the previous week. To make matters worse, as of Friday afternoon, it didn't look like the average lender had fully accounted for the losses in the bond market. Bonds dictate interest rate movement. When it comes to mortgages, lenders are paying close […]
• Big Changes at Fannie/Freddie, Is Conservatorship Nearing an End? January 22, 2019
  Posted To: MND NewsWireMarketWatch is reporting that Federal Housing Finance Agency (FHFA) along with Treasury and other parts of the administration are about to reveal a plan to end the 10-year plus conservatorship of the two GSEs Fannie Mae and Freddie Mac. Joseph Otting, who is keeping the FHFA director's seat warm until former director […]
• Rising Inventories Tempering Prices, Existing Home Sales Resume Slide January 22, 2019
  Posted To: MND NewsWireExisting home sales finished up the year on a decidedly sour note. After putting together consecutive increase in October and November and ending a six-month losing streak, the National Association of Realtors® reports sales plummeted 6.4 percent in December. Sales of previously owned single-family houses, townhouses, condos and cooperative apartments were at […]
• Fannie/Freddie Changes Run the Gamut, Including Shutdown Underwriting Shift January 22, 2019
  Posted To: MND NewsWire“Some people are so poor, all they have is money.” How about “26 of the World’s Richest Own the Same Wealth as Poorest Half” in the world!? To the best of my knowledge the PUGS (partial U.S. government shutdown) is not helping anyone’s wealth and is impacting U.S. citizens. Freddie and Fannie […]
• MBS Day Ahead: Bonds Fight to Hold Under Important Ceiling Amid Data Darkness January 22, 2019
  Posted To: MBS CommentaryAfter today's Existing Home Sales data (which is unaffected by the government shutdown because it's published by the National Association of Realtors), there will be no other bigger-ticket economic reports this week. Most of the blame for that lies with the fact that there simply isn't much on the economic calendar on […]
• MBS RECAP: One of Three Things is Going on With Bonds January 18, 2019
  Posted To: MBS CommentaryBond markets sold-off today in a slightly more alarming way than we've seen so far in 2019. This was accompanied by 11th straight trading session where stocks closed higher than they opened, as well as the best S&P prices in more than a month. One of three things could be going on. […]
• Mortgage Rates Nominally Higher Despite Bond Market Warning January 18, 2019
  Posted To: Mortgage Rate WatchMortgage rates rose gently today. Most mortgage borrowers (and many mortgage professionals, for that matter) wouldn't be aware of slightly more alarming risks lurking underneath the surface. Those risks involve the broader bond market from which mortgage-related bonds take their directional cues. More simply put, if US Treasuries are improving, mortgage-backed […]
• Has RESPA's Servicer Rule Reduced Foreclosures? January 18, 2019
  Posted To: MND NewsWireIn accordance with requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Consumer Financial Protection Bureau (CFPB) recently conducted five-year assessments of two rules it promulgated under the act. We summarized their assessment of the Ability-to-Repay/Qualified Mortgage rule last week. What follows is a brief summary of the assessment […]
• MBS Day Ahead: Bonds Break One Ceiling, But The Next One is More Important January 18, 2019
  Posted To: MBS CommentaryEver since bottoming out in early 2019, 10yr Treasury yields faced a pretty clear line in the sand from a technical standpoint. 2.82% stuck out like a sore thumb overhead due to multiple instances where it acted as a floor in 2018. It may have seemed too far away to worry about […]