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It's Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. Over time and in the bigger picture, Freddie's survey is an accurate way to track broad trends in rates. But because it primarily captures market movement that occurs in the first 2 days of any given week, and because that movement isn't reported until Thursday, the numbers can lag up-the-minute reality. For those interested in up-to-the-minute reality, there's good news about mortgage rates today. Freddie's survey shows a decline of 0.12%. That's an uncommonly big week-over-week drop. Accordingly, many major news outlets are reporting the 0.12% drop. The good news is that rates improved so much today (a day not counted in Freddie's numbers) that, if nothing changed by next week, Freddie's survey
Mortgage Rate Watch
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It's Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. Over time and in the bigger picture, Freddie's survey is an accurate way to track broad trends in rates. But because it primarily captures market movement ... (read more)
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Rob Chrisman
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This month for me includes Texas (a few times), Maryland, Northern California, and Colorado (a few times). It can be cold out there! So far the mood seems to be good, with some purchase-focused originators not displeased with rates whatsoever. (At le... (read more)
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MBS Commentary
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NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerati... (read more)
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Housing News
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Access to credit continued to inch up last month according to the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI). The index rose 0.6 percent to 175.2 in December. An increase in the index indicates that lending stand... (read more)
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Mortgage Rate Watch
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Mortgage rates moved moderately higher today after the Employment Situation Report (aka "the jobs report" or simply "NFP," after its trademark component "non-farm payrolls"). This was a bit counterintuitive considering headline job growth was slower ... (read more)
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MBS Commentary
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By quite a wide margin, today was the best day for bond markets since the election. 10yr yields dropped nearly 10bps, making it all the way to the important technical level of 2.34%. That's a nice move considering we're finally trading ... (read more)
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