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Mortgage Rates rose today as early presidential polls showed Clinton leading in several battleground states. At least when it comes to the most immediate future, rates have done better when Trump's numbers have been better. Some analysis suggests that although a Trump presidency could ultimately be worse for rates in the long run, the near-term uncertainty prompts investors to sell stocks and buy bonds. When demand for bonds increases, rates move lower, all other things being equal. Mortgage rates didn't have to move too much higher in order to make it to new 5-month highs . If we're talking about the actual "note rate," that hasn't changed for most prospective borrowers at all this week. Rather, the changes must be measured in the form of upfront closing costs/credits. Higher upfront costs
Mortgage Rate Watch
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Mortgage Rates rose today as early presidential polls showed Clinton leading in several battleground states. At least when it comes to the most immediate future, rates have done better when Trump's numbers have been better. Some analysis suggests tha... (read more)
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Housing News
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The foreclosure inventory was down nearly one-third in September when compared to a year earlier although the pace of completed foreclosures remained relatively steady. According to CoreLogic' September National Foreclosure Report, the inventory, whi... (read more)
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Rob Chrisman
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“It ain’t rocket surgery.” Trulia has a good piece out on the advantages of buying versus renting . Buying a home is 37% cheaper than renting nationally. Naturally, the advantage differs from market to market, but even the worst mar... (read more)
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MBS Commentary
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This week's absence of relevant economic data seems to be by design. Markets may have chosen to focus on the election even if there had been important data, but this way, we don't have to worry about reacting to multiple inputs. European ... (read more)
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Mortgage Rate Watch
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Mortgage Rates were unchanged today despite a fair amount of weakness in the bond market. Rates typically rise when bonds weaken. The absence of volatility is partly due to the fact that lenders didn't rush to offer improved rates on Friday afternoon... (read more)
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MBS Commentary
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Today was perhaps the simplest trading session for bond markets in recent memory. There was one relevant piece of information and one meaningful move in trading levels as a result.
The information in question was Sunday's news that the FBI... (read more)
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