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Mortgage rates managed to hold on to the improvements seen yesterday. This was far from a certainty yesterday afternoon as the underlying bond market had ebbed into weaker territory after hitting much stronger levels earlier in the day. The timing was such that most lenders simply waited for this morning to adjust rate sheets in a modestly unfriendly direction. But that likelihood depended on the bond market remaining at yesterday afternoon's levels. It didn't. As the day progressed, bonds improved. The biggest jump followed weaker economic data in the form of the Consumer Confidence report at 10am ET. Bonds continued to benefit from investors seeking safe havens as the stock market moved lower at its fastest pace in a month . All of the above leaves the mortgage market in essentially the opposite
Mortgage Rate Watch
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Mortgage rates managed to hold on to the improvements seen yesterday. This was far from a certainty yesterday afternoon as the underlying bond market had ebbed into weaker territory after hitting much stronger levels earlier in the day. The timing wa... (read more)
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MBS Commentary
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In the day just passed, bonds started out strong with help from exceptionally weak economic data in Europe. German manufacturing, in particular, continues to plumb the lowest depths since the European crisis in 2012. We're also seein... (read more)
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Housing News
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Both the S&P CoreLogic Case-Shiller indices and the Federal Housing Finance Agency's (FHFA's) House Price Index (HPI) were released on Tuesday. The Case-Shiller Indices showed prices generally slowing while FHFA's were more stable. The Case-Shill... (read more)
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Rob Chrisman
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What does the AFL-CIO have in common with Zillow? Both own mortgage companies. Think partnerships and “strategic alliances” are against the rules? Think again. Zillow announced partnerships with 11 home building companies across the count... (read more)
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Housing News
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The good news from a new National Association of Realtors® (NAR) survey is that a large majority of respondents think it is a good time to buy a home. The bad news is that the largest percentage of those who gave that response are likely to alrea... (read more)
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Housing News
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Foreclosure starts hit an 18-year low in August and were down 23 percent compared to the previous August. Black Knight, in its First Look at August loan performance data, said there were 36,200 starts during the month, a 7.65 percent month-over-month... (read more)
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