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Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Apr 15 2021, 4:52 PM
What mean words to put in my mouth, Golden!
on Thu Apr 15 2021, 2:47 PM
I am guessing newrez just wants MSR's for their investment value, as to the borrower, their(newrez's) servicing platform is just complete junk. Tech support responds to inquiries with other borrowers loan, their ui is atrocious, can't even get an amortization schedule (of course it can be calculated separately, or on bankrate, but almost...
on Wed Apr 14 2021, 9:23 AM
I have read Matthew's rate articles for some time, and do not believe that to be true. Matthew is all about the rates, understanding the trends, and what to expect in the future. He is simply arguing that rates are connected with the covid news and/or cases. Good times are when rates are low according to Matthew, not when covid is back, there is...
on Tue Apr 13 2021, 8:25 PM
If I didn't know better, I'd think you were rooting for Covid to come roaring back.
on Fri Apr 9 2021, 6:55 PM
It would be interesting to know HOW people are exiting their forbearance plans. What percent are reinstatement, payment plan, payoff (selling home), refinancing, modification, etc. It would be especially interesting to know how many people are opting to sell their homes as a way to exit forbearance and what that could mean for housing inventory.
Ted Rood
Mortgage Banker, The Federal Savings Bank
on Mon Apr 5 2021, 6:36 PM
It'll be interesting to see how much Fannie/Freddie's new pricing adjustments for investment and second home mortgages impact housing demand. Will definitely affect refinances, but won't boost certain markets' (like FL condo, traditionally a higher % of 2nd home/investment than most regions) demand.
on Fri Apr 2 2021, 1:18 PM
Thanks for this information! There's a typo. It should be 242,000 (not 242) who are 90+ days delinquent but not in forbearance programs.
on Wed Mar 31 2021, 12:20 PM
The problem is that the FED is such a huge player in the TIPS presently, that using the break evens is somewhat distorted.
Ted Rood
Mortgage Banker, The Federal Savings Bank
on Wed Mar 24 2021, 5:37 PM
We'll never know is the short answer to your question, Consumer. Whether you believe our current fiscal structure is a ticking time bomb or an efficient apparatus, it's what we have, and will continue to have.
on Mon Mar 22 2021, 12:10 PM
Is there any issues with MBS prices showing up today? I can only see treasury prices, but not the delayed MBS coupon prices as what is usually shown on the site.
on Thu Mar 18 2021, 4:13 PM
What impact did the winter storm that hit Texas have?
on Wed Mar 17 2021, 4:28 PM
Am I the only that thinks its a little weird the government is issuing treasury debt, and the government is buying that same debt(the fed) as a part of the QE? I sometimes wondering if we are backing our self into a hole we will no longer be able to recover from. ...And We can't stop buying our own debt, because [long term] rates will go up, we...
Ted Rood
Mortgage Banker, The Federal Savings Bank
on Thu Mar 11 2021, 5:52 PM
It's certainly an improvement to NOT see oodles of lenders worsening their rates mid day. Frankly, if we can stop the bleeding and stay at these levels, the world will be a wonderful place!
on Sun Mar 7 2021, 11:27 PM
I think the issue really is that bonds have been in a massive bubble since the collapse in 2008-9 and that bubble could be getting ready to burst. But it's clear the fed will certainly do everything in its power to stop that from happening. Unfortunately you can only print so much money to buy your own debt before the house of cards collapses. Peter...
on Fri Mar 5 2021, 6:55 PM
I like the recent drama in context but that still doesn't change the fact that the payment on a $500,000 Mortgage just went up about $70 a month!! I guess in retrospect it is still lower but then again so were housing prices in the 90's. For example, a house I bought in 91 for $154k at 9.75% interest sold last year for $448k at sub 3% interest...
on Fri Feb 26 2021, 5:01 PM
Great article with some good insight on the future months to come with mortgage rates!
Ted Rood
Mortgage Banker, The Federal Savings Bank
on Thu Feb 25 2021, 7:44 PM
a 2.375% loan could be bundled into either a 1.5% or 2% coupon MBS. In either case, those are still be traded, even if less prominently than a couple of months ago.
Ted Rood
Mortgage Banker, The Federal Savings Bank
on Thu Feb 25 2021, 7:42 PM
Perspective is everything. Last May, I was thrilled with pricing similar to today's. It does stink when rates move up, but not as much when they're coming from the lowest rates in history.
on Thu Feb 25 2021, 5:25 PM
What happens if you just closed my house loan at 2.37% and mbs hasn't been issued yet? I would assume it would normally be pooled with in a 1.5 coupon mbs. Would it be the originator, the correspondent buyer or fannie/freddie that would be taking on that loss (can something this large be hedged even?)? (note I am just a curious consumer trying to...
Ted Rood
Mortgage Banker, The Federal Savings Bank
on Mon Feb 22 2021, 8:00 PM
If we're not seeing "Taper Tantrum Deux" yet, I am DEFINTELY not looking forward to the day we do!
on Fri Feb 19 2021, 1:56 PM
Although altruistic and I think it is necessary, this isn't helping those of us looking to buy because it only exasperates the already tight supply due to potential sellers not wanting people touring their homes right now. Fingers crossed on finding something before rates increase another ¼% as they have done in the last 10 to 12 days..
on Wed Feb 17 2021, 6:07 PM
on Thu Feb 11 2021, 4:50 PM
I think that this was a wise decision, I don’t think we want 2.7 million homes going on the market.
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Wed Feb 10 2021, 4:25 PM
Spread chart between the two: And absolute change since late 2018 (which I have posted a few times now and tend to post periodically):
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Wed Feb 10 2021, 4:19 PM
For that type of content, check out the MBS section of the site. I update lock/float thoughts there daily. Here was yesterday's. and here's today's:
on Wed Feb 10 2021, 1:56 PM
Would you advise clients to lock rates in then? I remember Mortgage News Daily used to have a blog that would advise readers whether to lock in or not. Thank you!
on Fri Feb 5 2021, 6:09 PM
I was wondering if you could do graph 5 without the horizontal axis shift (and possibly scaling change on the vertical axis) to show the true spread between Mortgage Rates and Treasuries. I know this makes for a "tall" graph but it would make it easier to see the spread widening early to mid 2020 and then narrowing again over the last 6 weeks...
on Tue Feb 2 2021, 4:43 PM
For the feeble-minded amongst us what do the terms Rebuttable presumption and nonqualified mortgages and safe harbor at origination mean in layman's terms?
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Mon Feb 1 2021, 3:55 PM
Just trying to strike a balance between including lots of past precedent while still being able to see recent action. I can do a weekly chart and go back farther, I suppose. 5th chart, no... I wouldn't do that to you! That's mortgage rates vs a synthetic MBS Yield for a notional coupon that always trades at PAR (based on Refinitiv's proprietary...
on Fri Jan 29 2021, 7:04 PM
For the fourth and fifth chart, can you explain why there was not a "range" before 2012? On the fifth chart how are you comparing rates (in %) to bond prices (in $)? Thanks.
Larry Gray
Senior Mortgage Banker, Guarantee Mortgage
on Thu Jan 28 2021, 4:48 PM
Re: Comment from Bobbi Swan Ignore' as low as" references to rate just as you would the many ads placed to get companies phones ringing. Some folks probably got that rate referenced and we likely will not know the cost. Generally, many companies advertise rates to get the phones ringing or email inquiries. Then it is the job of their mortgage...
on Wed Jan 27 2021, 3:01 PM
Looks as if rates hit a new 52 week low today by 1 BP..
on Wed Jan 27 2021, 2:58 PM
"EconomicThe pace of the recovery in economic activity and employment havehas continuedmoderated toin recoverrecent butmonths, remainwith wellweakness belowconcentrated theirin levelsthe atsectors themost beginningadversely ofaffected by the yearpandemic." WHAT?
Ted Rood
Mortgage Banker, The Federal Savings Bank
on Wed Jan 27 2021, 9:52 AM
The vast majority of "top tier" loans I write are zero points. It all depends on the Loan Level Pricing Adjustments. An owner occupied, high credit score rate/term refinance typically doesn't have points unless clients want to buy the rate down. An investment duplex cash out loan WILL have points, as the pricing adjustments are vastly...
on Mon Jan 25 2021, 6:28 PM
It is very deceptive to quote a rate 'as low as' and not disclose the attaching discount points with that rate. We've not had ZERO points on rates for the better half of the year. It's disappointing to see a financial newsletter be so misleading to readers.
Ted Rood
Mortgage Banker, The Federal Savings Bank
on Mon Jan 25 2021, 6:24 PM
Many months to years, depending on state foreclosure restrictions.
on Fri Jan 22 2021, 5:38 PM
Quick question for the experts here.. How long after the Government sponsored forbearance plans expire should we expect to see these homes actually hit the market, either as short sales or in foreclosure auctions?
on Wed Jan 20 2021, 5:46 PM
Like I thought.. Initial over-reactionary jump followed by a drop to what will probably be the new norm and high 2's or low 3's is nothing to shake a stick at..
on Fri Jan 15 2021, 5:30 PM
Correction.. In my head I was thinking one either but I typed one fourth..
on Fri Jan 15 2021, 5:28 PM
Just as I predicted a week ago.. bounding around at a new level only slightly higher than the all time lows and still well below the 52 week high.. Rates spiked out of irrational fear by traders and have now dropped back down somewhat,, a quarter percent or near so as I can see.
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Fri Jan 15 2021, 4:50 PM
I mean... for anyone who got comfy with the late 2020 rate reality, yeah. It was one of only 4 or 5 short-term spikes of that size since we were on the way up in 2018. But yes, of course it's small potatoes in the big picture. I think you caught me on one of the few recent daily articles where I haven't thrown in a caveat to the effect of "everything's...
on Wed Jan 13 2021, 7:16 PM
Is 15 basis points really "well above"?
Ted Rood
Mortgage Banker, The Federal Savings Bank
on Tue Jan 12 2021, 7:40 PM
Given the last week's bond market losses, being able to continue writing many 30 year fixed loans with rates starting with a 2 has to be considered a win. Need to make sure there's no complacency here, the trend is definitely not in our favor at this point.
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Mon Jan 11 2021, 6:17 PM
Thanks for the heads-up, Harold. We fixed it.
on Fri Jan 8 2021, 4:44 PM
Typo in the article: Law Vegas, should be Las Vegas
on Thu Jan 7 2021, 7:02 PM
My pleasure.. We close tomorrow and have an offer ready to go as soon as the funds are there so we'll be getting a loan soon and that extra $7 per $100k is a bit but not enough to break a deal. I'm going to bet by the time we're ready to close the rate will be off a tic, at least in the points department by which a buy down might be in order...
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Thu Jan 7 2021, 6:00 PM
Thanks for the collegial discourse, Ted. Sounds like we're actually very much on the same page. I wrote this one with you in mind:
on Wed Jan 6 2021, 7:26 PM
I see you not being bias and I'm probably exaggerating some. As far as movements in rates, one or two days a trend does not make. As much as one would like to think there's no emotion on the trading floor, I've been around long enough to see on many occasions the markets correct one way or the other by amounts that exceed where they should...
Matthew Graham
Chief Operating Officer, Mortgage News Daily / MBS Live
on Wed Jan 6 2021, 5:57 PM
Larry, thank you for the vote of confidence. Ted, you keep thinking I'm making some political statement here, and I keep not doing that. I'm not talking about deficits and total debt (seriously... I have no idea why you're posting links about deficits because I haven't discussed that at all). I'm talking about near-term changes in...

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