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Mortgage rates moved higher today at the fastest pace in several months today. The underlying bond market (which dictates rates) was merely hinting at a corrective bounce by the end of last week. After today's moves, bonds are shouting their corrective intentions from the rooftop. While it does happen several times a year, it's rare to see rates move higher as quickly as they did today. If all of that sounds alarming, that's because it is! Days like today can indeed mark the shift into a higher gear for a run toward higher rates. That said, this is only the 4th day of higher rates since hitting 3-year lows at the beginning of last week. There are certainly past examples of days like today--that give the illusion of more pain to follow--that end up being false alarms. There's no way to know
Mortgage Rate Watch
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Mortgage rates moved higher today at the fastest pace in several months today. The underlying bond market (which dictates rates) was merely hinting at a corrective bounce by the end of last week. After today's moves, bonds are shouting their correcti... (read more)
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MBS Commentary
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In the day just passed, bonds began the week with a resolute sell-off that broke through an important overhead ceiling in 10yr yields (1.62). Weakness was present from the start of the European session through the end of the domestic session wi... (read more)
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Housing News
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While it doesn't appear to be of "canary in the coalmine" magnitude, CoreLogic notes that there were annual increases in the delinquency rates of eight states in June. Those eight bucked a national trend that has brought the overall delinquency rate ... (read more)
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Housing News
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Funny what several dozen downticks in interest rates will do consumers' perceptions of the mortgage market. Fannie Mae said today that its Home Purchase Sentiment Index, based on selected responses to its National Housing Survey (NHS) set its second ... (read more)
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Rob Chrisman
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The gap between the haves and have-nots continues to widen. Though the wealth of U.S. households has eclipsed $100 trillion, the wealthy have primarily accrued the post-recession gains. Those in the top 1 percent of U.S. households have seen their we... (read more)
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Housing News
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Low interest rates continue to expand the pool of refinancible mortgages and bolster mortgage prepayment rates according to Black Knight's Mortgage Monitor. The company, noting that Freddie Mac's 30-year fixed rate mortgages dropped 9 basis points la... (read more)
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