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Mortgage rates moved lower for the 2nd straight day, which brings them back in line with Monday's levels. While these aren't quite the lowest rates of the past 2 weeks, they're much closer than they were on Tuesday morning. That means the average lender is nearly able to offer the lowest rates since September 2017! In the slightly bigger picture, underlying bond markets seem to be consolidating after the aggressive move to lower rates 2 weeks ago. In other words, if we can look past some of the recent volatility, the general trend has been sideways for nearly 2 weeks now. This is a good thing because, again, the "sideways" is happening at long-term lows for rates. All things being equal, that's a sign that the market is at least willing to see rates move even lower. Whether or not rates do
Mortgage Rate Watch
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Mortgage rates moved lower for the 2nd straight day, which brings them back in line with Monday's levels. While these aren't quite the lowest rates of the past 2 weeks, they're much closer than they were on Tuesday morning. That means the average len... (read more)
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Housing News
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The Mortgage Bankers Association (MBA) released its regular monthly estimates for new home sales on Thursday and also announced a new initiative to promote affordable housing. The initiative, to be headed by Steven O'Connor, MBA's Senior Vice Preside... (read more)
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MBS Commentary
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In the day just past, bonds built on the Tuesday's strength following a correction to the weakest levels in more than a week. 10yr yields briefly made it as low as 2.11% before consolidating in a fairly perfect triangle/pennant for the rest of ... (read more)
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Rob Chrisman
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At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) are communicating that the optional use period for the redesigned Uniform Residential Loan Application (URLA) fo... (read more)
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Housing News
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Lenders are singing a happier tune when it comes to their profit margin outlook with those hopes driven by rising confidence in mortgage demand. The net share of lenders' perceptions about both recent and upcoming demand has turned positive for the f... (read more)
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Housing News
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Mortgage access increased in May for the fifth consecutive month. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 1.9 percent to 189.5. A decline in the MCAI indicates that lending standards are tighteni... (read more)
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consumerfinancemonitor.com
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consumerfinancemonitor.com
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