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Mortgage News Daily

• MBS RECAP: Quietest Day of The Week Despite Several Interesting Tidbits June 23, 2017
  Posted To: MBS CommentaryWe've been watching the intraday trading ranges in bond markets to keep an eye on just how flat things have been in the wake of last Wednesday's big trading day (due to econ data and the Fed). "Inside day" is a term that comes up when things are this flat. It refers […]
• Rates Cap Impressively Sideways Week Near Long-Term Lows June 23, 2017
  Posted To: Mortgage Rate WatchWeeks like this are the reason that some mortgage rate analysis is only done once a week. There haven't been any significant developments in financial markets--at least not as far as bonds (which dictate rates) have been concerned. And there certainly hasn't been any significant movement in mortgage rates themselves. In […]
• Diversity Not Destined to Dampen Homeownership June 23, 2017
  Posted To: MND NewsWireThe final installment of a series of working papers produced by the University of Southern California (USC), in partnership with Fannie Mae, looks at the decade-spanning 10-point plunge in the homeownership rate of young Americans. Homeownership has declined, starting even before the housing crisis, across nearly all age groups, but has been […]
• New Home Sales Rebound; Prices Crush Previous Record June 23, 2017
  Posted To: MND NewsWireThe report on May new home sales, released this morning, paints a much brighter picture than last month's release of April data. In that report, the U.S. Census Bureau and the Department of Housing and Urban Development said new home sales had dropped 11.4 percent from their March level, to a seasonally […]
• Legal and Compliance News - Servicing Enforcement Action June 23, 2017
  Posted To: Pipeline PressRumors continue to swirl, this time about Orange County’s Americash. Yes, the drop in refi volume is showing, and even if you made it through the bad first quarter, it’s not a cake walk out there. On the other hand, I wish I owned stock in George Clooney. As if he needs […]
• MBS Day Ahead: Bond Traders Eyeing The Exits As Flat Week Winds Down June 23, 2017
  Posted To: MBS CommentaryYou've heard of "innocent until proven guilty." This week of trading in bond markets has been "flat and boring until proven volatile." For many, it's the first full week of summer. For others, it's the week where their kids finished school. And for everyone, it's a week without much by way of […]
• MBS RECAP: Bonds Modestly Stronger, But Sideways Theme Remains June 22, 2017
  Posted To: MBS CommentaryYesterday's recap went into some detail about the market phenomenon that can result in intense periods of sideways momentum (and trader apathy) during certain weeks of certain summertime months. Long-story short, this week was a great candidate for what some market participants refer to as the summer doldrums, and so far it […]
• Mortgage Rates Sideways to Slightly Lower June 22, 2017
  Posted To: Mortgage Rate WatchMortgage rates have been so little-changed in recent days that yesterday's coverage wouldn't need to be changed in order to apply perfectly today. Indeed, the 3rd paragraph is a word-for-word repeat. To be fair though, we would need to update yesterday's reference to "especially over the past 5 days." That "5" […]
• FHFA Home Prices Continue Strong Gains June 22, 2017
  Posted To: MND NewsWireApril data from the Federal Housing Finance Agency (FHFA) indicates that, once again, there was no moderation in the pace of home price increases . FHFA's Housing Price Index (HPI), which is based on loans sold to or guaranteed by the two GSEs, Fannie Mae and Freddie Mac, increased 0.7 percent from […]
• Prepayment Rate and Refinanceable Population Have Both Soared June 22, 2017
  Posted To: MND NewsWirePrepayments, apparently spurred by the recent retreat in interest rates, soared in May. Black Knight Financial Services, in its "first look" at the month's mortgage performance data, said there was a 23 percent increase in prepayments, historically a good indicator of refinancing activity , from April to May, bringing the incidence to […]