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Mortgage rates spent a 2nd day with the average lender holding relatively steady . This follows a decent winning streak over the previous week and a half with the net effect being at least an eighth of a percent (.125%) improvement on the average conventional 30yr fixed quote. Holding steady was a bit anticlimactic yesterday because the broader bond market (specifically, the benchmark US 10yr Treasury yield) indicated more improvement than we actually saw. That had a lot to do with the underperformance of bonds that specifically underlie mortgages (MBS or "mortgage-backed securities). But whereas MBS lagged Treasuries yesterday, they outperformed today, thus allowing lenders to keep rates unchanged even as 10yr yields moved moderately higher. Day-to-day volatility aside, the bigger picture
Mortgage Rate Watch
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Mortgage rates spent a 2nd day with the average lender holding relatively steady . This follows a decent winning streak over the previous week and a half with the net effect being at least an eighth of a percent (.125%) improvement on the average con... (read more)
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Housing News
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Existing-home sales got back on track in October, partially recovering from a 2.2 percent slip in September that ended a two-month winning streak. The National Association of Realtors® (NAR) said previously owned single-family houses, townhouses,... (read more)
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Housing News
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The boom continued in October as more than half of the loans closed during the month were for refinancing . According to Ellie Mae's Origination Insight Report, those loans accounted for 51 percent of the total originated on its system, the highest p... (read more)
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Rob Chrisman
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Government shutdown worries, the impeachment hearings, the trade war, video of a bear stuck in a car near Lake Tahoe … Is there anything good happening out there? For one, my cat Myrtle seemed tickled pink when I told her that we had earned a ... (read more)
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Housing News
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Mortgage brokers have apparently reclaimed both their reputations and their market share in recent years according to Archana Pradhan, a risk management analyst for CoreLogic. She writes in the company's blog that brokers' share of the conventional c... (read more)
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MBS Commentary
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Today brought one of the week's only potentially important economic reports in the form of the Philly Fed Index, but it fell on deaf ears. Notably, the headline and the internal components were at odds. At first glance, that might help us... (read more)
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