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The interest rates on 30-year fixed rate mortgages originated in December reached an all-time low in ICE Mortgage Technology's (formerly Ellie Mae's) records, an average of 2.93 percent and a 4-basis point decline from the November rate. The company, in its monthly Origination Insight Report , said the note rate for all three loan types it tracks, FHA, Conventional, and VA, were all below 3.0 percent for the second straight month. FHA and Conventional loans dropped to 2.94 and 2.96 percent, respectively. Each averaged 2.99 percent the prior month. The VA rate fell from 2.72 to 2.66 percent. Refinances continued to dominate at 60 percent of originations , down 1 percentage point from November but up from 46 percent a year earlier. The outsized share was skewed toward conventional loans at 68
Housing News
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The interest rates on 30-year fixed rate mortgages originated in December reached an all-time low in ICE Mortgage Technology's (formerly Ellie Mae's) records, an average of 2.93 percent and a 4-basis point decline from the November rate. The company,... (read more)
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Housing News
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Optimism is running high in Fannie Mae's first Economic and Housing Outlook of the year. The company's Economic and Strategic Research (ESR) team says expanding vaccination efforts, the potential of greater than previously expected fiscal stimulus, a... (read more)
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Rob Chrisman
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There’s always “stuff” going on in residential lending, right? Capital markets folks have noticed that the big banks are re-entering buying jumbo loans from correspondents. BAML’s pass through channel, Wells Fargo, Redwood Tru... (read more)
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Housing News
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Existing home sales resumed an upward trajectory in December. After drifting lower by 2.5 percent in November, breaking a five-month streak of gains , the National Association of Realtors® (NAR) said sales in the last month of the year rose 0.7 p... (read more)
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MBS Commentary
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Strong Move in Treasuries But MBS Underperform (Significantly)
While much of the world of finance and institutional investment seemed to be preoccupied with day trading some truly epic ridiculousness via Game... (read more)
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Mortgage Rate Watch
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What's a bond market rally and why should mortgage rates care? There are all kinds of bonds. US Treasuries would be the quintessential example, but there are also bonds specific to the mortgage market. These are what groups of loans ultimately become... (read more)
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