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Although it was the focus of yesterday's discussion , the ability of the mortgage market to hold steady in the face of bond market weakness continues to impress . This is interesting because mortgage rates take direct cues from the bond market. That's still the case, but at the moment, the mortgage side of the bond market is playing with a stacked deck . If Treasuries are only a little bit weaker on any given day (like today), mortgage bonds and mortgage rates have been consistently holding their ground or actually improving. Today was more of a "ground-holding" sort of day, but it depends on how any given lender responded to yesterday's bond market weakness. Those who adjusted rates higher yesterday were generally in slightly better shape today . Those who abstained yesterday were offering
Mortgage Rate Watch
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Although it was the focus of yesterday's discussion , the ability of the mortgage market to hold steady in the face of bond market weakness continues to impress . This is interesting because mortgage rates take direct cues from the bond market. That'... (read more)
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Housing News
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The Department of Housing and Urban Development (HUD) has published its 2021 Forward Mortgage Limits for FHA loans. The FHA limits are based on the Federal Housing Finance Agency's (FHFA's) conforming limits for Fannie Mae and Freddie Mac loans; howe... (read more)
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MBS Commentary
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Breaking Down The Crazy Relationship of MBS, Mortgage Rates, and Treasuries
Bonds showed up to sell today--at least Treasuries did. MBS, not so much! That was the focus of the morning commentary a... (read more)
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Rob Chrisman
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Fun with numbers for Hump Day! Numbers were behind HP’s decision to leave California for Houston. Thank you to Len T. who sent a great chart of the names of big numbers, suitable for the kids and anyone watching U.S. debt. Thank you to Brian B.... (read more)
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Housing News
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There was the usual disruption to mortgage application activity during the Thanksgiving holiday week that ended November 27, although the volume, especially of purchase applications held up relatively well. The Mortgage Bankers Association (MBA) said... (read more)
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Housing News
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Total construction spending in October was at a seasonally adjusted annual rate of $1.439 trillion according to U.S. Census Bureau estimates. This was an increase of 1.3 percent from the revised September estimate of $1.420 trillion and 3.7 percent h... (read more)
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