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Mortgage rates have been putting on a rather frustrating and exciting show in the month of August. On the one hand, they're at or near their lowest levels in 3 years. On the other hand, they're not nearly as low as you'd expect them to be based on movement in markets that almost always track mortgages in lock-step. The 10yr Treasury yield, above all other interest rates has long been thought to dictate mortgage rate movement. That's a complicated thesis to evaluate, because it's true and false at the same time. It's certainly true that Treasuries set the tone for almost any interest rate in the US. They're like an aircraft carrier and other rates are like planes, helicopters, soldiers, rafts, boats, and unmanned submersibles that are along for the ride. At any given time, mortgage rates may
Mortgage Rate Watch
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Mortgage rates have been putting on a rather frustrating and exciting show in the month of August. On the one hand, they're at or near their lowest levels in 3 years. On the other hand, they're not nearly as low as you'd expect them to be based on mo... (read more)
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Housing News
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Two US Census Bureau researchers have determined that the biggest determinants of household wealth are owning a home and having a retirement account . While that may not be surprising, the degrees of magnitude are. Using data from the 2015 Survey of ... (read more)
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MBS Commentary
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In the day just passed, traders focused on the yield curve--an opaque term that officially refers to the entire curve of bond yields versus bond duration, but that everyone unofficially agrees to be a reference to the 2yr vs 10yr spread unless otherw... (read more)
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Housing News
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Mortgage rates increased last week and in response the volume of applications ratcheted down significantly. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, dropped 6.2 percent on a seasonally a... (read more)
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Rob Chrisman
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For readers who deny climate change is real, natural or manmade, sinking cities around the world (including Houston and New Orleans ) can be attributed to groundwater issues (public and private wells pulling water out of aquafers), another long-term ... (read more)
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Housing News
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Both the S&P CoreLogic Case-Shiller and the Federal Housing Finance Agency (FHFA) reported June price data on Tuesday. Both sets of indices showed the trend of decelerating prices continued into the summer, but appreciation in the FHFA index is s... (read more)
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