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Mortgage rates began the day decidedly lower than yesterday, but most lenders ended up revising rates higher in the mid-morning hours due to bond market weakness. Investors remained on edge heading into the release of the Minutes from the Fed's most recent meeting. Markets were generally prepared for the Fed Minutes to support recent Fed comments regarding faster rate hikes and a reduction the Fed's balance sheet. By continuing to reinvest proceeds from its balance sheet, the Fed is helping to keep mortgage rates much lower than they otherwise would be. The Minutes ended up being slightly less threatening than expected. Bonds consequently improved . Several mortgage lenders have offered rate sheet improvements as a result. If bond market levels were to hold here through tomorrow morning, the
Mortgage Rate Watch
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Mortgage rates began the day decidedly lower than yesterday, but most lenders ended up revising rates higher in the mid-morning hours due to bond market weakness. Investors remained on edge heading into the release of the Minutes from the Fed's most ... (read more)
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Rob Chrisman
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Are you lending in areas where LOs are receiving more calls from recruiters than they are from real estate agents? Let’s hope not. But here’s something else that’s going on: a blockchain project for syndicated loans is in the works ... (read more)
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Housing News
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Existing home sales kicked off 2017 with a spurt that brought sales of single family homes, townhomes, condos, and cooperative apartments to the fastest pace in nearly a decade . The National Association of Realtors® (NAR) said January sales were... (read more)
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Housing News
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Mortgage applications activity was down slightly during the week ended February 17 compared to the previous week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, was down 2.0 percent on a seaso... (read more)
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MBS Commentary
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Today brings a calendar item that contains the letters "FOMC." That's typically a big deal. While it could also be a big deal today, the "FOMC Minutes" are more hit and miss when it comes to market movement.
So what are the FOMC Minute... (read more)
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MBS Commentary
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Bonds came back from their 3-day weekend in weaker territory to start the overnight session. Losses were mild at first, and then became moderate after stronger European economic data. European bonds unsurprisingly saw the bigger share... (read more)
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