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Mortgage rates dropped quickly again today, easily hitting the lowest levels since late 2017 for the average lender. The move comes in response to a surge in volatility and perhaps even a wave of panic in financial markets. Stocks have fallen somewhat swiftly as trade tensions increasingly look like an ongoing narrative as opposed to a temporary issue. The bigger story, however, is in the bond market (which is directly responsible for most interest rates, including mortgages). Relative to stocks, bonds have been undergoing a much bigger move as the market attempt to reprice its expectations for Fed rate cuts. Yes, that's CUTS with a "C" now. Up until the past few days and weeks, you were just as likely to hear about potential "hikes." But all that seems to have gone out the window, and quickly
Mortgage Rate Watch
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Mortgage rates dropped quickly again today, easily hitting the lowest levels since late 2017 for the average lender. The move comes in response to a surge in volatility and perhaps even a wave of panic in financial markets. Stocks have fallen somewha... (read more)
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MBS Commentary
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In the day just past, bonds continued to push feverishly into the lowest yields since 2017. In fact, 10yr yields were only about 1bp away from the l owest levels since election week in 2016! All told, the rebound from late 2018 has trave... (read more)
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Rob Chrisman
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What does $3.4 million buy you in Joisey? A 5,600 square foot house on 1.5 acres. In this case, it was the house owned by New Jersey’s Tony and Carmela in The Sopranos. (Ducks in the pool not included.) What does $3.4 million take down in mount... (read more)
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Housing News
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Spending on construction was almost flat in April. The Census Bureau said total expenditures of both public and private money was essentially unchanged from the seasonally adjusted estimate in March of $1.30 trillion. The March number was revised fro... (read more)
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Housing News
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The long-awaited single mortgage-backed security from the GSEs Fannie Mae and Freddie Mac launched on Monday. The official start date for the single security was announced in mid-March. The single security will be issued via the Common Securitization... (read more)
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Housing News
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As the current issue of Black Knight's Mortgage Monitor was going to "press" mortgage rates dropped under 4.0 percent for the first time in more than a year. Black Knight spokesperson Mitch Cohen says the decline to 3.99 percent sent what the company... (read more)
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consumerfinancemonitor.com
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