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Mortgage rates finally moved a bit higher today after avoiding such things for nearly 2 full weeks. The losses were mild today, but nonetheless take the average lender back in line with rates from November 15th. This is more of a commentary on the narrowness of the recent range than the scope of today's weakness. Mortgage lenders will be closed on Thursday for the Thanksgiving holiday and some will be closed on Friday as well. From a rate standpoint, the market forces that underpin rate movement are severely impacted by the holiday. There is no reliable way to know if the impact will be positive or negative, simply that a decrease in the staffing levels and an increase in distraction/absences among market participants can result in some fairly random movement for rates. The takeaway is that
Mortgage Rate Watch
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Mortgage rates finally moved a bit higher today after avoiding such things for nearly 2 full weeks. The losses were mild today, but nonetheless take the average lender back in line with rates from November 15th. This is more of a commentary on the na... (read more)
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MBS Commentary
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Attempting to competently perform bond market analysis on Thanksgiving week is a dangerous game. It will either drive a person insane(r), or simply lead to great frustration. So I'm taking a break from past routines in favor of conducting... (read more)
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Rob Chrisman
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An LO from Wyoming recently reminded me that, “At the end of the day we sell a product driven by rates.” And we may be at, or near, these rates for a while, so I hope you’re happy with them (and have great service and solid products... (read more)
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Housing News
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Mortgage prepayments continued unabated in October, even though interest rates rose during the month. In its "first look" at October loan performance data, Black Knight said the single month mortality rate (SMM) climbed another 16 percent during the ... (read more)
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Housing News
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Apparently it is time to shift our total attention from the Millennial generation. A new survey from Freddie Mac introduces the housing hopes and dreams of its successor - Generation Z. This group, defined as those Americans who are now aged 14 to 33... (read more)
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Housing News
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Lower interest rates translated to higher volume in the third quarter of the year, giving mortgage companies their highest profits in seven years. The Mortgage Bankers Association's (MBA's) Mortgage Bankers Performance Report says that independent mo... (read more)
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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