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Last week ended on positive note for mortgage backed securities and mortgage rates. As stock indexes fell, market participants re-allocated portfolios from risky assets to safer investments, resulting in added demand for government AAA rated fixed income securities. The benchmark 10 yr Treasury note...
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Prices of mortgage backed securities posted modest gains yesterday in an uneventful trading session. Intraday gains didn’t warrant reprices for the better from lenders, however because the rally has carried over into today, mortgage rates are better this morning! This morning we got a read on the...
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Mortgage rates were unchanged as the third quarter came to a close yesterday. MBS prices have moved sideways at their highest levels in over four months after rallying to those levels on Monday. With today's economic data releases, prices are moving HIGHER, pushing into levels not seen since the...
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Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.
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The secondary mortgage market went on quite a ride yesterday! Following a weaker than expected 5 year Treasury note auction, market participants hurriedly sold their fixed income investments ahead of the FOMC statement. This led to MBS falling below the recent range and a few lender reprices for the...
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It was a bumpy ride in the secondary mortgage market yesterday. At the open, MBS prices moved considerably higher, however, the gains did not last long. Most lenders issue rate sheets around 10am eastern and by that time, MBS had given back all of the early morning gains. This forced several lenders...
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Activity in commercial real estate continued to decline in the second quarter, pushing activity to its lowest level in 15 years, an industry survey said. The Commercial Leading Indicator for Brokerage Activity, which has been tracking the industry since 1990, softened by 1.3% between April and June to...
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The Pending Home Sales Index rose more than expected with a 3.2% advance in March, against forecasts that it would be unchanged after a revised 2.0% gain in February. The index now stands at 84.6. Annually, pending sales have risen 1.1% since March 2008. The index, released by the National Association...
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A rate decision from the Bank of Canada, the release of U.S. auto sales data for February and a barrage of central bank and government speakers are the main events of the North American session, while European market participants will focus on comments from their own central bankers. At 8 a.m. EST, Atlanta...
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The pace of sales for existing homes in the United States came in much better than market expectations in December, according to an industry survey released Monday. Existing home sales rose to an annualized pace of 4.74 million units in December, marking a 6.5% month-over-month rise following November's...
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An index looking at pending home sales in the U.S. picked up its pace of decline in November, the National Association of Realtors reported on Tuesday. U.S. pending home sales fell more than expected with a 4.0% decline in November. The index now stands at 82.3, down from an downwardly revised 85.7 reading...
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Investments in commercial real estate in the U.S. have all but stalled as bank lending for commercial real estate has dried up, according to the National Association of Realtors ( NAR ). "Although access to residential mortgages has improved, the opposite is true for commercial loans," Lawrence...
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An index looking at pending transactions for the sale of existing homes eased against a deteriorating economic backdrop but remain in a stable range, according to an industry group on Tuesday. U.S. pending home sales tumbled by less than expectations with a 0.7% decline in October, according to the National...
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A leading indicator for the U.S. commercial real estate market continued decelerating for the fifth consecutive quarter on Thursday, with all components of the index lower in the third quarter, according to the National Association of Realtors (NAR). The NAR's Commercial Leading Indicator for Brokerage...
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Home prices continued to fall in a majority of U.S. metropolitan areas in the third quarter, while existing home sales were also down in 32 states, the National Association of Realtors reported Tuesday. In the third quarter, median single-family home prices rose in 28 of 152 metro areas, compared to...