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Mortgage rates hit the lowest levels in more than a month yesterday and came very close to the lowest levels in more than a year. Things changed today , but only slightly. Without a fresh supply of drama or weaker economic data, the bond market deteriorated. Bonds typically benefit when investors are seeking safe havens in response to economic risks. This pushes bond prices higher and yields (aka "rates") lower. Whereas there were concerns about Italian budget news and a weaker reading on Retail Sales yesterday, today brought stronger economic data across the board. Bonds reacted by weakening (i.e. moving higher in yield/rate) and that was basically that. If there's a saving grace for the bond/rate market is that the weakness found a limit fairly quickly and rates were only modestly higher
Mortgage Rate Watch
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Mortgage rates hit the lowest levels in more than a month yesterday and came very close to the lowest levels in more than a year. Things changed today , but only slightly. Without a fresh supply of drama or weaker economic data, the bond market deter... (read more)
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Housing News
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Applications for new home purchases jumped 15.6 percent in April compared to a year ago and were 3.0 percent higher than in March. The Mortgage Bankers Association said these non-seasonally adjusted numbers indicate there will be a strong increase in... (read more)
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MBS Commentary
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In the day just past, bonds rallied profusely on news that Italy would defy EU budget rules in laying out expenditures to stimulate its economy, thus introducing systemic risk to the Euro currency which, in turn, benefits core bond markets like Germa... (read more)
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Rob Chrisman
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Lender Products and Services My AMC, LLC is pleased to announce the hiring of Carolyn Covington as Sales Account Executive working in the Dallas, TX office to collaborate with My AMC’s nationwide customer base. “I accepted the position be... (read more)
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Housing News
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There was a small gain in residential construction permitting in April while housing starts rose strongly , both reversing their unexpected declines in March. Neither however has yet caught up with their year earlier numbers. The U.S. Census Bureau a... (read more)
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Housing News
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New home builders finally got a little wind under their wings this month. The National Association of Home Builders (NAHB) said its NAHB/Wells Fargo Housing Market Index (HMI), a measure of builder confidence in the new home market, finally broke out... (read more)
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