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Mortgage News Daily

• MBS RECAP: Sideways to Slightly Weaker After Another Long-Term High October 20, 2021
  Posted To: MBS CommentarySideways to Slightly Weaker After Another Long-Term High 10yr yields hit a 5-month high early in the overnight session and then managed to claw their way back to modestly stronger levels by the start of domestic trading. Amid a dearth of data and actionable headlines, bonds were left to "trade it out." […]
• Mortgage Rates Hold Steady Near Multi-Month Highs October 20, 2021
  Posted To: Mortgage Rate WatchMortgage rates began moving off longer term lows in early August and that trend has continued ever since. The September 22nd Fed Announcement (and press conference with Fed Chair Powell) served as a jumping-off point for additional volatility and upward momentum. In contrast, October has generally seen rates rise at a […]
• MBS Morning: Range-Finding With 2 Weeks Until Fed Day October 20, 2021
  Posted To: MBS CommentaryToday has the dubious distinction of being exactly 2 weeks before the Fed announcement (the one that's likely to contain the official tapering announcement). While tapering seems like a bad thing for rates, the timing is important. The most relevant precedent (2013/2014) suggests that anticipation of tapering is actually what hurts the […]
• MLO, AE Jobs; Sales, Retention, Recruiting Tools; Processing Changes; Fannie and Freddie Appraisal Tweak October 20, 2021
  Posted To: Pipeline PressSomeone here in San Diego asked an audience, “Who out there misses their Blackberry?” and many raised their hands. Technology… an interesting thing. How about the ability to look at this “Star Wars House” in Florida: $11.5 million, not even on the water, but page down a few times in the photos […]
• New Home Purchase Applications Fall as Construction Costs Rise October 20, 2021
  Posted To: MND NewsWireThe volume of applications for mortgages to purchase newly constructed homes plunged in September, falling 16.2 percent from the September 2020 level according to the Mortgage Bankers Association's (MBA's) Builder Application Survey (BAS.) Compared to August the volume of applications was down 4.0 percent. These changes are not seasonally adjusted. Based on […]
• Mortgage Application Volume Declines For Fourth Consecutive Week October 20, 2021
  Posted To: MND NewsWireMortgage application volume fell sharply last week, the second decline of more than 6 percent in the past three weeks. Refinancing was down for the fourth straight week and the volume of purchase applications fell as well. The Mortgage Bankers Association (MBA) said its Market Composite Index, which measures volume, was down […]
• MBS RECAP: The Trend is Not Your Friend October 19, 2021
  Posted To: MBS CommentaryThe Trend is Not Your Friend October has been one of those unpleasant months where bonds have several reasons to weaken, few to rally, and where the market hasn't expressed any interest in departing from the logical baseline. In other words, rates are supposed to be rising right now, but they need […]
• Mortgage Rates Stabilize For Now October 19, 2021
  Posted To: Mortgage Rate WatchMortgage rates hit their highest levels in months yesterday as bonds lost ground at a brisk pace to start the new week. Bonds--specifically mortgage-backed securities (MBS)--are the most important ingredient used by lenders to determine mortgage rates. Bond market weakness (i.e. "losing ground") means that bond PRICES are falling. Bond prices […]
• FHFA Announces Changes to Low Income Refi Programs and Appraisal Requirements October 19, 2021
  Posted To: MND NewsWireBoth Fannie Mae and Freddie Mac (the GSEs) will be expanding their low-income refinance programs to include those making at or below 100 percent of an area's median income (AMI). The threshold on the programs is currently at 80 percent of AMI. Sandra L. Thompson, acting director of the Federal Housing Finance […]
• Construction Numbers Fall Back from August Levels October 19, 2021
  Posted To: MND NewsWireBoth permits and housing starts fell in September following an unanticipated increase the previous month. Where the August gains were driven primarily by strong multifamily construction activity, a decline in that sector hurt the September metrics. Permitting was especially weak, with the lowest seasonally adjusted annual rate since September 2020's nearly identical […]