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You might think you know mortgage rates. You might make assumptions about where they'll go and what they'll do based on past precedent. For decades, you may have done a nearly flawless job of that simply by drawing the exceedingly logical conclusion that mortgage rates tend to behave a lot like other longer-term bonds. After all, bonds and mortgages are both loans. They're both fixed income investments. And to cap it all off, the average mortgage "becomes" a bond, in a manner of speaking, with its underlying cash flow being traded alongside the most quintessential bonds like 10yr Treasury Notes. That's why 10yr Treasury yields and mortgage rates move in the same direction at the same time with regularity that puts clocks to shame. So it's understandable that anyone familiar with this dynamic
Rob Chrisman
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I’m gonna ask my Mom if that offer to “slap me into next year” is still on the table. It’s great to be a lender in 2020, and should be into 2021, but I received this note. “Rob, industry vets keep comparing 2020 to 2003 ... (read more)
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Mortgage Rate Watch
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You might think you know mortgage rates. You might make assumptions about where they'll go and what they'll do based on past precedent. For decades, you may have done a nearly flawless job of that simply by drawing the exceedingly logical conclusion ... (read more)
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Housing News
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While the rate of non-current loans remained sharply higher than a year ago, CoreLogic reports that serious delinquencies , loans more than 89 days past due, began to level off in September for the first time since the start of the pandemic. The comp... (read more)
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Housing News
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The pandemic keeps manifesting itself in the housing market in small but potentially significant ways and there was another data point in Black Knight's new Mortgage Monitor report. The report focuses on delinquencies, price increases, and the contin... (read more)
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Housing News
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A noted housing researcher has analyzed the current frenzy of home buying and the rapidly escalating prices since the country emerged from its short-lived spring pandemic shutdown. Issi Romem, Senior Director of Housing & Urban Economics at Zillo... (read more)
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MBS Commentary
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MBS-Specific Volatility Today, But No Major Change to Bigger-Picture
A fresh (or perhaps "slightly less stale") take on stimulus prospects pushed bond yields higher overnight. Domestic hours were calm u... (read more)
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