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Mortgage loans ultimately "turn into" bonds and those bonds have a certain value to investors. When those values change, so do the rates offered by mortgage lenders. This is basically a hard and fast rule. But it's completely out the window right now. And that's a good thing this week. It's a good thing because bonds had a pretty bad week. 10yr Treasury yields--the most popular bond market benchmark--rose by more than 0.15%, making this the worst week since early August. Bonds take cues from economic data, Fed policy changes, inflation, and fiscal policy changes, to name a few. Economic data is the most consistent source of inspiration, and among economic reports, the big jobs report is by far and away the most important. In general, weaker economic data is good for rates. As such, it was no
Mortgage Rate Watch
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Mortgage loans ultimately "turn into" bonds and those bonds have a certain value to investors. When those values change, so do the rates offered by mortgage lenders. This is basically a hard and fast rule. But it's completely out the window right now... (read more)
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Rob Chrisman
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Large-scale mortgage in-person conference activity, and official mortgage business travel, appears to be shut down until at least the summer of 2021. A well-known vendor’s head of sales wrote to me, saying, “I miss the little sandwiches, ... (read more)
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Housing News
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The pandemic keeps manifesting itself in the housing market in small but potentially significant ways and there was another data point in Black Knight's new Mortgage Monitor report. The report focuses on delinquencies, price increases, and the contin... (read more)
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Housing News
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A noted housing researcher has analyzed the current frenzy of home buying and the rapidly escalating prices since the country emerged from its short-lived spring pandemic shutdown. Issi Romem, Senior Director of Housing & Urban Economics at Zillo... (read more)
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Housing News
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Mortgage forbearances for homeowners affected financially by the pandemic declined slightly over the past week. Black Knight said that there were 200,000 plans scheduled to expire at the end of November, probably accounting for the majority of the 39... (read more)
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MBS Commentary
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Bond Market Threats on Hold For Now, But Still Lurking
Brexit-related headlines helped the bond market recover as the new week began, but even after European markets closed, gradual strength remained for Trea... (read more)
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