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Mortgage rates moved lower again today, bringing them deeper into the lowest levels in more than a month. There were no specific motivations for the improvement apart from the typical day-to-day changes seen in the underlying bond market. More simply put, mortgage rates move when bonds move, and the latter can frequently be seen reacting to some development in the news or in response to a specific economic report. Today, however, bonds showed no clear predisposition to move higher or lower. That's a good thing considering Friday's movement was largely friendly for rates and that lenders were being somewhat cautious about dropping rates as quickly as the bond market suggested. Starting tomorrow morning, there will be more data for bonds to digest. If it's generally weaker than expected or if
Mortgage Rate Watch
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Mortgage rates moved lower again today, bringing them deeper into the lowest levels in more than a month. There were no specific motivations for the improvement apart from the typical day-to-day changes seen in the underlying bond market. More simply... (read more)
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Housing News
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Freddie Mac is announcing it has put a critical homebuyer education course online. The new tutorial, called CreditSmart® Homebuyer U is free and its successful completion satisfies the HomeOne SM or Home Possible ® mortgage homeownership educ... (read more)
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Housing News
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Depending on how you look at it, either Texas and Florida or Nevada and Idaho were the fastest growing states in 2019. Frank Nothaft, CoreLogic's chief economist says that in terms of sheer numbers the first two grew dramatically, with Texas adding 3... (read more)
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MBS Commentary
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For the bond market, almost the entirety of the 2nd half of 2019 was dominated by a consolidation pattern (a narrowing trend where periodic highs and lows in rates move closer and closer together). As recently as the beginning of last wee... (read more)
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Rob Chrisman
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“Rob, I know that it costs less to retain an existing employee than to train a new one. Last year companies were reportedly paying big signing bonuses, but are you hearing about outlandish retention bonuses for production staff?” Yes, I a... (read more)
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Housing News
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Construction spending by both the public and the private sector grew in November, totaling a seasonally adjusted annual rate of $1.324 trillion dollars. This is 0.6 percent higher than the $1.316 trillion rate in October and represents 4.1 percent gr... (read more)
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