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Mortgage rates moved lower today following back-to-back afternoons of improvements in underlying bond markets. Yesterday afternoon was only slightly stronger. It didn't result in many lenders offering mid-day improvements in rate sheets. Today, however, multiple lenders put out positive reprices after a well-received Treasury auction indicated strong investor demand in the bond market (higher demand for bonds = lower rates). The average lender is back to their best levels since December 14th . Whereas 4.375% had easily been the most prevalent conventional 30yr fixed quote for top tier scenarios, 4.25% is at least as common today. All that having been said, rates were already fairly close to that tipping point. The range has been calm and narrow over the past 2 weeks. Today's move stands out
Mortgage Rate Watch
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Mortgage rates moved lower today following back-to-back afternoons of improvements in underlying bond markets. Yesterday afternoon was only slightly stronger. It didn't result in many lenders offering mid-day improvements in rate sheets. Today, howev... (read more)
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Housing News
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Pending sales, which were widely expected to make a good showing in November, pulled back sharply instead. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts for ex... (read more)
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Rob Chrisman
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"I like to party. And by 'party' I mean take a nap." Lots of folks are taking naps this week, but those on the production side of residential lending are talking, off the record, of being worried about huge drops in pipelines, lower... (read more)
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Housing News
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In an earlier article we summarized the first part of a report by Urban Institute's Housing Finance Policy Center, Senior Fellow Jim Parrott about the failure of private label securitization (PLS) to recover after the housing crisis. He cites the lac... (read more)
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MBS Commentary
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NOTE: This paragraph will be at the top of the Day Ahead for a few weeks. Once you've read it, feel free to skip it. The Day Ahead has long been my venue to offer deep thoughts with a mix of big-picture and near-term technical considerati... (read more)
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MBS Commentary
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As far as full business days go (those that aren't "early close"), today was by far and away the slowest day of the year for bond markets. In fact, it may be the slowest day of the year, period, by the time the final volume tallies are in.
... (read more)
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freddiemac.mwnewsroom.com
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