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Mortgage rates were decisively lower today, following a massive market movement on news of new tariffs to be imposed on Mexico. In general, trade wars are economically negative. They hurt stocks and help bonds. When bonds are improving, it means bond prices are rising and yields (another word for "rates") are falling. Long-story short, investors are pricing-in a new reality where trade tensions do measurable damage to the global economy. This not only forces money out of stocks and into bonds, but it also implies lower inflation and increased odds of Fed rate cuts. The specific implication for mortgage rates was quite good today. Mortgages have been lagging the moves seen in Treasury yields, for the most part. That was NOT the case today--at least for the lower portion of the rate spectrum
Mortgage Rate Watch
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Mortgage rates were decisively lower today, following a massive market movement on news of new tariffs to be imposed on Mexico. In general, trade wars are economically negative. They hurt stocks and help bonds. When bonds are improving, it means bond... (read more)
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Housing News
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Toll Brothers is embarking on a new business model that may, depending on your outlook, increase the rental stock, provide new opportunities for home builders, or further diminish new home sale inventories. The company has committed to invest $60 mil... (read more)
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MBS Commentary
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In the day just past, bonds traded an "outside day" (high and low yields of the day fell OUTSIDE the highs and lows from the previous day). This signals both indecision and volatility. In other words, bonds weren't sure which way to go, b... (read more)
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Rob Chrisman
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Congress has become adept at kicking the can down the road, the latest example being, for the 11th time, passing a two-week extension for the National Flood Insurance Program . Those who actually have to earn a profit usually don’t have the tim... (read more)
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Housing News
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The National Association of Home Builders (NAHB) is introducing the latest in a series of indices it has employed to measure housing within a broader context of the economy. The first in our memory was the Improving Markets Index (IMI), introduced ea... (read more)
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Housing News
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April's pending home sales had been expected to build on the gains posted in two of the three previous months, but they retreated instead. The National Association of Realtors® (NAR) said its Pending Home Sale Index (PHSI), a measure of newly sig... (read more)
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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