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Mortgage rates moved lower for 3 days in a row as of yesterday afternoon. But that trend was likely to reverse based on the timing of yesterday's market movement. Specifically, the market was suggesting mortgage lenders should raise their rates, but not quite urgently enough (or early enough in the day) for lenders to pull the trigger at the time. As such, it was a strong possibility that we'd see lenders make those adjustments with today's first rate sheets. Things actually deteriorated a bit from there. Once again, bond markets were unable to maintain modest improvement from the overnight trading session. As bond prices move lower and yields move higher, lenders are increasingly forced to "reprice" their mortgage rate sheets (i.e. they change the rates they're offering in the middle of the
Mortgage Rate Watch
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Mortgage rates moved lower for 3 days in a row as of yesterday afternoon. But that trend was likely to reverse based on the timing of yesterday's market movement. Specifically, the market was suggesting mortgage lenders should raise their rates, but ... (read more)
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Rob Chrisman
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There are plenty of well-paid people in the mortgage biz. It is good to keep things in perspective: The U.S. median household income was $63,179 in 2018 according to U.S. Census Bureau. Sure, it is easy to become mired down in the statistics, but at ... (read more)
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Housing News
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Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 10.7 percent in September, down from 12.9 percent the previous month. The portfolio balance at the end of the period was $2.295 trillion compared to $... (read more)
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Housing News
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Homeowners continued to reduce and/or retire their mortgage debt at an accelerated clip in September according to Black Knight's "first look" at the month's loan performance data. The single month mortality (SMM) rate, an indication of early mortgage... (read more)
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Housing News
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New home sales came in at a respectable seasonally adjusted annual rate of 701,000 in September, down only 0.7 percent from the revised rate of 706,000 in August. The August rate was originally estimated at 713,000. Sales of newly constructed homes a... (read more)
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MBS Commentary
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Let's face it. It makes sense for the average bond trader to be more indecisive than normal right now. A no-deal Brexit was avoided this week (bad for bonds), but a Brexit deal couldn't make it through British parliament in time to beat t... (read more)
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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