Posted To: MBS CommentarySeptember has been a long month for the bond market as rates quickly trudged back up to levels that aligned with our more pessimistic assumptions for 2018. With strong average hourly earnings to start the month and several other upper tier economic reports coming in at the best levels in many years, … Read moreMBS Day Ahead: Is it ‘Game On’ For a Rally?
Posted To: MBS CommentaryToday brought rather pervasive pressure on longer-term rates and mortgages. It wasn’t a significant amount of selling, but it was fairly steady throughout the day–ultimately bringing us back into the red after starting the day in the green. Credit Europe for the green start. To a smaller extent, stock losses may have … Read moreMBS RECAP: Month-End No Help For Longer-Term Rates
Posted To: MND NewsWireFreddie Mac made two announcements this week. The first is a long expected administrative change to requirements for private mortgage insurance (PMI) which will go into effect on March 31, 2019. The company updated these requirements under a mandate from its regulator the Federal Housing Finance Agency (FHFA), incorporating changes related to … Read moreFreddie Mac Gives Shared Equity Ownership a Closer Look
Posted To: Pipeline PressIn less than 2 years, we’ll be closer to 2070 than 1970! Does anyone feel that it’s silly to think of middle-aged mortgage bankers believing that they can still dance well to this song like they did 30-40 years ago? (Yes, Animal House is 40 years old!) And am I the only … Read moreCE, Sales Products; Ocwen/PHH update; Agency Deals; Why Does Extending a Lock Cost Money?
Posted To: Mortgage Rate WatchMortgage rates were slightly lower again today, but there are some caveats. First of all, the average lender wasn’t in substantially better shape compared to yesterday afternoon. On top of that, bond markets (the underpinnings of mortgage rates) weakened throughout the day. If lenders were beginning their day looking at current … Read moreMortgage Rates at 2-Week Lows
Posted To: MBS CommentaryIn the past week, we’ve seen 10yr yields rise up and over 3.06%, flirt with 3.10%+ and come back down. This has happened only one other time since rates set all-time lows in 2012 and 2016, and that was in May of this year. Granted, rates drifted just a bit higher in … Read moreMBS RECAP: We’ve Been Here Before But This Time’s Different
Posted To: Mortgage Rate WatchMortgage rates fell modestly again today. Over the past 2 days, we’ve managed to undo more than a week of damage, with rates back at their best levels since September 17th. That may sound a bit more exciting than it actually is, however. Many prospective borrowers would still be quoted the … Read moreMortgage Rates Lowest in More Than a Week
Posted To: MND NewsWireThe leading indicator for existing home sales continued to struggle in August and for the fourth time in the last five months purchase contract executions fell back from those in the previous month. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), which is based on contract signings, … Read moreHousing Sentiment Lukewarm, Leads to Dismal Sales – Again
Posted To: Pipeline PressGoldman Sachs telling us it expects four more short-term rate increases by the Fed in 2019, and it doesn’t make money by being wrong. Is your company ready for that? STRATMOR discusses “operational reviews” below – worth a gander. Company Tune-ups Are you building a process review into your strategic plans for … Read moreInsurance, Non-QM, Underwriting Products; Bank M&A Takes Off
Posted To: MBS CommentaryYesterday’s Fed announcement–specifically, Fed Chair Powell’s press conference remarks–set bonds up for a potential bounce. This would come at a critical time considering the prevailing trend for September has/had 10yr yields on a collision course with the highest levels in years. After a week’s worth of sideways trading just over a firm … Read moreMBS Day Ahead: Bonds Have a Chance, But Victory Far From Guaranteed