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In the world of interest rates, it's good to be a mortgage today . The dominant species on that world is US Treasuries: the quintessential dollar-based loans (after all, they are loans to the US government). Loaning dollars to the entity responsible for the dollar is about as foundational as it gets, but I digress. Treasuries and mortgage rates tend to move in the same direction and by generally similar amounts. That's because mortgage rates are based on underlying bonds (mortgage-backed securities or "MBS") that are fairly similar to Treasuries in most of the ways investors care about. The prices of MBS dictate where lenders can and should set their interest rates, but ultimately, it's up to the lender. If they're flush with business and want to slow things down, they might set rates a bit
Mortgage Rate Watch
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In the world of interest rates, it's good to be a mortgage today . The dominant species on that world is US Treasuries: the quintessential dollar-based loans (after all, they are loans to the US government). Loaning dollars to the entity responsible ... (read more)
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Housing News
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Almost 200 senior mortgage lenders told Fannie Mae about their plans to both acquire and keep customers through the company's Fourth Quarter Mortgage Lender Sentiment Survey. Mortgage lenders cited a number of channels and strategies and ranked them ... (read more)
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MBS Commentary
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In many respects, the market response to the coronavirus outbreak has been able to take cues from past experience with SARS in 2002/2003. In many other respects, markets are flying blind due to substantial differences between the past and prese... (read more)
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Housing News
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Home price increases, as measured by CoreLogic's Home Price Index (HPI) continued to pick up speed in December on an annual basis. However, they pulled back a bit from the sudden surge they had displayed in November. The HPI, which includes distresse... (read more)
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Rob Chrisman
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Fitness instructor: “Have you ever done a marathon?” Me: “You mean like on Netflix?” Both take stamina (of some sort), as does merely looking at the U.S. Debt Clock website that Kim G. reminded me continues to click along. Ori... (read more)
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Housing News
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Total construction spending ended 2019 down slightly from the prior year. The U.S. Census Bureau said the total value of construction, both public and private, put in place during the year was $1.304 trillion compared to $1.307 trillion in 2018, an 0... (read more)
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