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Mortgage rates moved lower today even though the broader bond market suggested they should have remained flat or higher. In several of this week's previous articles, we've discussed the volatility that's been wreaking havoc on the world of mortgage rate setting for lenders. Simply put, when the moves get bigger and when the direction changes more frequently, mortgage rates take extra damage relative to Treasury yields (a risk-free benchmark for most any other rate in the US). Conversely, when rampant volatility begins to ebb, lenders are able to repair some of that damage. The steadier the broader bond market can remain, the more we may see mortgage rates fall , even if outright trading levels aren't suggesting as much of an improvement. More simply put, the 10yr Treasury yield is at 1.738
Mortgage Rate Watch
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Mortgage rates moved lower today even though the broader bond market suggested they should have remained flat or higher. In several of this week's previous articles, we've discussed the volatility that's been wreaking havoc on the world of mortgage r... (read more)
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Housing News
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Ever since mortgage rates began to move lower, Black Knight has devoted a big portion of its Mortgage Monitor , a monthly report on loan performance and other mortgage issues, to tracking the ebb and flow of the refinanceable loan population. The com... (read more)
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Rob Chrisman
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Critics of the “new and improved” 1003, aka URLA, for loan applications must be quite pleased with the indefinite delay of its required rollout announced yesterday. “The Federal Housing Finance Agency (FHFA) has completed its review... (read more)
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Housing News
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The availability of jumbo mortgage loans increased in July, but not enough to offset tightening in credit access for other types of loans. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) dipped 0.4 percent co... (read more)
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Housing News
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There was an unusually large bump in Fannie Mae's Home Purchase Sentiment Index (HPSI) in July. The company said strong positive responses to questions on the National Housing Survey (NHS) about job security and interest rate declines sent the index ... (read more)
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MBS Commentary
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I wouldn't go so far as to say this week of bond market movement went "out like a lamb," but at the very least, it wasn't nearly as brutal as the first 4 days. Yields were almost perfectly unchanged in the overnight session, but began to fall... (read more)
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