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Mortgage rates launched to their highest levels in more than 3 months yesterday for a variety of reasons. Chief among them was a series of comments from both China and the US about the intent to cancel previously announced tariffs as a part of the phase 1 trade deal. Tariffs and trade have been weighing on the economic outlook in a big way, and that's benefited interest rates. Anything that lessens the weight has the opposite effect. Notably, the bond market failed to improve very much today even after Trump said that there was no agreement to roll back tariffs yet, even though there was a clear reaction. This could be due to the fact that markets expect a deal to be worked out eventually, but bigger-picture momentum is also a consideration. Simply put, rates have been moving so much lower
Mortgage Rate Watch
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Mortgage rates launched to their highest levels in more than 3 months yesterday for a variety of reasons. Chief among them was a series of comments from both China and the US about the intent to cancel previously announced tariffs as a part of the ph... (read more)
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MBS Commentary
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If you don't expect anything good to happen for the bond market for the next few months, I guarantee you won't be disappointed. If, however, you expect to see a normal amount of resilience and a continued willingness on the part of rates to ope... (read more)
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Housing News
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One year after hitting a ten-year low, housing affordability has risen to its highest level in three years. Rose Quint, writing in the National Association of Home Builders Eye on Housing Blog , says 63.6 percent of new and existing homes sold in the... (read more)
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Rob Chrisman
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As rumors swirl about Michael Bloomberg entering the race for president, MLOs are winding down for the year (a few have written to me saying that, after a solid November and 2019, they’ll be coasting during December and try to push closings int... (read more)
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Housing News
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The share of first-time buyers remains well below historic levels according to the National Association of Realtors' ® (NAR's) 2019 Profile of Home Buyers and Sellers, and those who do buy frequently need financial assistance from their family. T... (read more)
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Housing News
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The storm is over, the fires are out, but anyone who has survived a natural disaster, and that is more of us every year, knows that the problems are just beginning. A new report by CoreLogic looks at how a demand surge sparked by rebuilding efforts m... (read more)
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