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Lenders continue to be pessimistic about their profit outlook as 2018 draws to an end. Fannie Mae said its fourth quarter 2018 Mortgage Lender Sentiment Survey found the profit outlook reported by respondents at an all-time survey low. This was true whether they were talking about purchase or refinance mortgages or about GSE-eligible, non-GSE-eligible, or government loans. It was the ninth consecutive quarter that lender outlook has declined. Smaller slices of a shrinking pie sums up the reasons given by lenders for their lowering outlook, especially for refinancing. When asked whether refinancing demand had increased over the past three months for any loan type, or if they expected it would over the next three months, positive answers did not break 5 percent. Responses to the same questions
Housing News
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Lenders continue to be pessimistic about their profit outlook as 2018 draws to an end. Fannie Mae said its fourth quarter 2018 Mortgage Lender Sentiment Survey found the profit outlook reported by respondents at an all-time survey low. This was true ... (read more)
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Housing News
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Almost exactly 10 years after he helped pass the legislation that established the Federal Housing Finance Agency (FHFA), Mark Anthony Calabria has been nominated by the White House to be its director. If his nomination is confirmed by the Senate, Cal... (read more)
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MBS Commentary
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As we begin the third day of moderate weakness in bond markets, it's safe to say that we're looking at the correction and/or consolidation that we expected to see as of the end of last week. Bonds wouldn't have needed any other reason apart f... (read more)
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Rob Chrisman
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Who among us has pushed for abolishing the mortgage-interest deduction, supported getting rid of government subsidies for the 30-year fixed-rate mortgage, putting Fannie and Freddie into receivership, and supported ending the sweep of F&F’s... (read more)
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Housing News
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Borrower activity continued to pick up last week as interest rates retreated to September levels and mortgage applications extended their recent winning streak. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of appl... (read more)
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MBS Commentary
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Government shutdowns make good news. When risks of a shutdown flare up (especially with today's sort of political theater) it tends to dominate the news coverage. This creates the risk that shutdown news is perceived to impact bonds in ... (read more)
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