Mortgage Rates: If You Like Boring, You’re in Luck!

Posted To: Mortgage Rate WatchMortgage rates didn’t move at all, again today. There really hasn’t been any meaningful movement for more than 3 weeks. The same thing happened from late June through mid July. And if we broaden our definition of “sideways” just a bit, we can legitimately fit most of 2018 into the same … Read moreMortgage Rates: If You Like Boring, You’re in Luck!

MBS RECAP: New Tariff News Helps Bonds Dig Into Range

Posted To: MBS CommentaryWhile we can’t really avoid talking about “the range” recently (roughly 2.80 to 2.90 in terms of 10yr Treasury yields), we can at least talk about it in a slightly more enjoyable way today. As of yesterday afternoon, yields were essentially challenging the upper end of the range. Any weakness today would … Read moreMBS RECAP: New Tariff News Helps Bonds Dig Into Range

Freddie Mac Updates Selling Guide, Introduces New Product

Posted To: MND NewsWireFreddie Mac will be consolidating two of its mortgage products into a single offering effective October 29, 2018. The company announced this and other changes to its Selling Guide in a Bulletin on Wednesday. The affected products are Freddie Mac’s Home Possible and Home Possible Advantage Mortgages. The company said it is … Read moreFreddie Mac Updates Selling Guide, Introduces New Product

Freddie Mac’s Portfolio up 3.2 Percent for Year

Posted To: MND NewsWireFreddie Mac reported today that its total mortgage portfolio increased at an annualized rate of 3.5 percent in July. The portfolio balance at the end of the period was $2.136 trillion compared to $2.130 trillion at the end of June and $2.044 trillion at the end of July 2017. Purchases and Issuances … Read moreFreddie Mac’s Portfolio up 3.2 Percent for Year

DTC Product; CEO Events; Hedging Firms Making Moves

Posted To: Pipeline PressIs there a place for age or sex discrimination in mortgage banking? Of course not. So the court case earlier this month involving Sacramento’s Summit Funding and Rick Ruby (LOs know him from CORE) is being followed closely by the industry. At this point Summit and “profit participant” Rick Ruby lost a … Read moreDTC Product; CEO Events; Hedging Firms Making Moves

MBS Day Ahead: It Would Take Some Convincing to Break The Range

Posted To: MBS CommentaryRemember the flat, boring range between 2.8 and 2.9? Or perhaps you prefer the slightly stricter version between 2.82 and 2.88? That’s the range that dominated our conversation and bond trading beginning in late June. The range went on vacation through early August, but has been back in town for more than … Read moreMBS Day Ahead: It Would Take Some Convincing to Break The Range

Sun Belt has Lock on “Young” Housing

Posted To: MND NewsWireEarlier this month the National Association of Home Builders’ (NAHB’s) Eye on Housing blog featured a story on America’s aging housing stock. NAHB analyst Na Zhao used 2016 American Community Survey (ACS) data to put the median age of owner-occupied homes at 37 years compared to a median age of 31 years … Read moreSun Belt has Lock on “Young” Housing

MBS RECAP: Bonds Remain Rangebound After Morning Weakness

Posted To: MBS CommentaryToday ended up being the most uneventful day of the week in terms of outright volatility. In other words, bonds didn’t cover as much ground as they did over the past 2 days. That said, there was still a bit of excitement . After being unchanged in the overnight session, yields began … Read moreMBS RECAP: Bonds Remain Rangebound After Morning Weakness

Mortgage Rates Edge Higher Again

Posted To: Mortgage Rate WatchMortgage rates were just slightly higher again today, keeping them in line with the highest levels in about 3 weeks. The same caveat applies: we’re talking about “effective rates” (which factor in upfront lender costs) as opposed to “note rates” (the actual interest rate that most of us have in mind … Read moreMortgage Rates Edge Higher Again

NAR Sees Overheated Housing Market Starting to Cool

Posted To: MND NewsWireExpectations weren’t particularly high for a solid July report on home purchase contracts, but today’s report from the National Association of Realtors® (NAR) didn’t meet even those . NAR’s Pending Home Sales Index (PHSI) came in at 106.2, down from an upwardly revised (from 106.9) 107.0 in June, a decline of 0.7 … Read moreNAR Sees Overheated Housing Market Starting to Cool

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