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Mortgage News- MBS RECAP: 4 Year Prophecy Fulfilled; Now What? February 27, 2020Posted To: MBS Commentary10yr yields were as low as 1.24% and ended the day at 1.27% after a decent amount of volatility. MBS gained almost a quarter point, but mortgage lenders did not generally improve rate sheets by that much (and some not at all). Back in the day (but not too far...), it was hard not to notice that the bond market had a habit of hitting […]Matthew Graham
- Lowest Rates in 8 Years, But All Kinds of Disclaimers February 27, 2020Posted To: Mortgage Rate WatchMortgage rates hit the lowest levels in 8 years either today or yesterday, depending on the lender, just narrowly edging out the rates seen in early July 2016. There are multiple caveats, however. First off, lenders are responding to recent market movements in different ways. Some lenders move down faster and then remain flat ev […]Matthew Graham
- Home Sales Crushed Expectations And Are Now Near a 2 Year High February 27, 2020Posted To: MND NewsWirePending home sales bounced back last month after an unexpectedly dismal performance ended the prior year. The National Association of Realtors ® said its Pending Home Sales Index (PHSI), which had dropped 4.9 percent to 103.2 in December, posted a 5.2 percent increase last month to a reading of 108.8. This is 5.7 percent higher than th […]Jann Swanson
- MBS Day Ahead: Don't Expect Mortgage Rates to be Thrilled February 27, 2020Posted To: MBS CommentaryGood morning. 10yr yields are in the 1.2's. All-time lows. We follow MBS and the 10yr Treasury yield (and other rates, when relevant) here. The focus is on the 10yr for THESE REASONS . Today will be "interesting" then, because mortgage rates aren't going to do what the 10yr is suggesting. I've broken this dow […]Matthew Graham
- LO Jobs; Pooling, Non-QM, Appraisal Products; CFPB, Audit, Exams, and Compliance News February 27, 2020Posted To: Pipeline PressI was telling my cat Myrtle that U.S. lenders are continuing to bask in the glow of a great 2019 and a start to 2020 (with March and April now looking very good, given rates), but that one of the big worries is about branches and referral partners being picked off, either through acquisitions or by competitors. She seemed disinterest […]Rob Chrisman
- New Home Sales Hit Highest Levels Since 2007 February 26, 2020Posted To: MND NewsWireNew home sales had ended 2019 in a much stronger fashion than they had started the year. December sales were at an annual rate of 708,000 (a revision from the initial estimate of 694,000) and running more than 23 percent above sales a year earlier. With Wednesday's sales report from the U.S. Census Bureau and the Department of Hou […]Jann Swanson
- MBS Day Ahead: Past Examples of Trips to All-Time Yield Lows February 26, 2020Posted To: MBS Commentary2012 was almost all about the European systemic crisis, although doubts remained about the US economic lift-off as well. All of the above played out against the background of a generally supportive Federal Reserve. In the summertime, QE was in one of its off cycles and traders increasingly began to expect QE3. Europe was terrified th […]Matthew Graham
- Sales, Language, Broker Tools; GSE Reform Continues; Two 2020 Fed Cuts? February 26, 2020Posted To: Pipeline PressRemember the concerns of chaos prior to the UK leaving the European Union? Despite Brexit, the average London house prices increased 2.3% in 2019, the highest since 2017. In the rest of England, home prices were up 2.2% y/y. In this country, lenders’ pipelines are swamped as a surge in coronavirus cases outside China (highly transmit […]Rob Chrisman
- Mortgage Applications Calm Before The Storm? February 26, 2020Posted To: MND NewsWireThere was a new round of interest rate cuts during the week ended February 21, but consumers largely ignored the additional potential for refinancing. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage volume, increased by 1.5 percent from the previous week on an unadjusted basis, but was down […]Jann Swanson
- Mortgage Rates Are Low, But They're Not Falling as Fast as The 10yr February 25, 2020Posted To: Mortgage Rate WatchMortgage rates have been putting on a rather frustrating and exciting show in the month of February. On the one hand, they're at their lowest levels since 2012 and are off to their strongest start of any year on record. On the other hand, they're not nearly as low as you'd expect them to be based on movement elsew […]Matthew Graham
- MBS RECAP: 4 Year Prophecy Fulfilled; Now What? February 27, 2020
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