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Let's get caveats out of the way upfront. No conversation about mortgage rates would be complete without a reminder that some lenders are very far removed from the averages. Moreover, even a lender is offering rates that are in line with today's average, that may have been a completely different story at various points in the past. With that out of the way, yes, the average lender is now offering the lowest rates in several weeks for top tier, conventional 30yr fixed scenarios. Speaking of top tier, how about some more caveats? As soon as we start adding risk factors to the mix, rates (or upfront loan costs) rise abruptly. In many cases, lenders aren't even offering certain combinations of factors anymore. For instance, if you were hoping to get a cash-out loan, that's quickly become much more
Mortgage Rate Watch
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Let's get caveats out of the way upfront. No conversation about mortgage rates would be complete without a reminder that some lenders are very far removed from the averages. Moreover, even a lender is offering rates that are in line with today's aver... (read more)
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MBS Commentary
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Given the size and scope of the unemployment/forbearance issue, mortgage investors have been rightfully concerned about the timeliness of payments, and perhaps even the solvency of existing mortgage market backstops (servicer balance sheets and Fanni... (read more)
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Housing News
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March is typically the strongest month of the year for mortgage performance, probably because, according to Black Knight the receipt of tax refunds allows delinquent borrowers to catch up on their payments. However, last month the delinquency rate ro... (read more)
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Rob Chrisman
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While in captivity, it is important that your home have the right ambiance, and emanate a welcoming feeling . Real estate agents are good at helping sellers establish the right ambiance, and while giving blood yesterday I coincidentally sat near an a... (read more)
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Housing News
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Two Urban Institute (UI) researchers pose a pertinent question in a recent paper. Laurie Goodman and Aaron Klein ask, "What is the purpose of the Fed lowering short term rates to zero and buying hundreds of billions of mortgages to lower mortgage int... (read more)
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Housing News
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The Census Bureau and Department of Housing and Urban Development's report on new home sales in March is the first real time indication of the impact the COVID-19 mitigation is having on total sales. The report on existing homes, released a few days ... (read more)
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