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Mortgage Rates were slightly higher today, keeping them in line with the weakest levels in just over 5 months. "Weakness" is relative, however. Apart from the past 5 months, and a few months in 2012, today's rates would rank among all-time lows. Day-to-day movement hasn't been extreme for the past few days, with most lenders continuing to quote 3.625% on top tier conventional 30yr fixed scenarios, and merely making small adjustments to the upfront costs depending on market movement. Volatility could increase tomorrow, following the Employment Situation. This "jobs report" is the biggest piece of economic data that comes out on any given month in terms of its market-moving track record. Its typical potency is likely limited by the election and broader global concerns that will be addressed in
Mortgage Rate Watch
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Mortgage Rates were slightly higher today, keeping them in line with the weakest levels in just over 5 months. "Weakness" is relative, however. Apart from the past 5 months, and a few months in 2012, today's rates would rank among all-time lows. Day-... (read more)
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Housing News
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The two government sponsored enterprises (GSEs) reported improved financial results in the third quarter of 2016. Fannie Mae and Freddie Mac both said they would pay substantial dividends to the U.S. Treasury under their Senior Preferred Stock Purcha... (read more)
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Housing News
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Several positive factors contributed to a rise in the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index in October. MBA's Vice President of Research and Economics, Lynn Fisher explained, "The index was pushed up by an increase... (read more)
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Rob Chrisman
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With residential applications at a 5-month industry low, it’s time for a pun. "How much does it cost to buy sixty female pigs and forty male deer? One hundred sows and bucks." How much does it cost to hire & train someone? Amazon says it wi... (read more)
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MBS Commentary
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There can be no doubt that bond markets are responding to recent political headlines. But there's even less of a doubt that stock markets are far more willing to respond. That's not much of a revelation, given that stocks tend to be more ... (read more)
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MBS Commentary
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Taken in and of itself, today's Fed statement was "net-hawkish." That means, relative to the last announcement, the verbiage took small but noticeable steps toward setting up an eventual rate hike.
Normally a net-hawkish Fed announc... (read more)
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