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Mortgage rates were marginally lower today compared to last week, but only when factoring in upfront finance charges. Actual quoted interest rates have been unchanged for more than a week with the average lender quoting conventional 30yr fixed rates of 4.0% on top tier scenarios. For the bond markets that underlie mortgage rates, it was a three-day weekend, and it showed. There were no relevant economic reports and very little by way of market-moving news or events. That will change later this week when we'll receive several important reports, including a key inflation reading on Friday. In general, rates have been in a holding pattern at the highest levels in more than 2 months. The next move is important, because it will either keep 2017's narrow pattern intact or suggest a shift back toward
Mortgage Rate Watch
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Mortgage rates were marginally lower today compared to last week, but only when factoring in upfront finance charges. Actual quoted interest rates have been unchanged for more than a week with the average lender quoting conventional 30yr fixed rates ... (read more)
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Housing News
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Credit access hasn't improved much over the last year unless one is shopping for a jumbo mortgage loan. The Mortgage Bankers Association (MBA) noted an 0.7 percent increase in its Mortgage Credit Availability Index (MCAI) in September, bringing it to... (read more)
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Housing News
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National delinquency rates continue at 10-year lows , and both early delinquency and transition rates are stable as well. But CoreLogic, in its July Loan Performance Report, points to what it calls some disturbing trends in localized areas. The mortg... (read more)
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Rob Chrisman
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6,762 institutions took a residential loan application in 2016, per Richey May’s HMDA dashboard data. That is a lot of lenders!! Another big figure is the number of houses that were built with porches last year. According to a NAHB analysis of ... (read more)
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Housing News
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The costs of the recent hurricanes that struck in August and September are coming home to roost. The first two in the recent rolling series are, in fact are largely blamed for the first job loss in 80 months, a 33,000 deficit in September. Last week ... (read more)
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MBS Commentary
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Bonds struggled to find a theme in their first trading day back from a 3-day weekend. Much of the international focus was on Catalonia's quest for independence, but headlines from the region never seemed to have a material impact on bond market... (read more)
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