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Mortgage rates have spent just over a week moving back up from the lowest levels in more than three and a half years. Those long-term lows came courtesy of the panic surrounding the coronavirus outbreak, which led investors to move more money into safe havens like bonds. When demand for bonds rises, rates fall, including mortgage rates. The move back up coincides with a steady decrease in the level of panic surrounding the outbreak. Global stock markets have not been shy about reversing coronavirus-related losses, with US stocks actually back to all-time highs. Chinese equities haven't made up nearly as much ground by comparison. And finally, the bond market (which dictates interest rates) isn't anywhere close to its pre-coronavirus levels. All of that having been said, rates are still moving
Mortgage Rate Watch
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Mortgage rates have spent just over a week moving back up from the lowest levels in more than three and a half years. Those long-term lows came courtesy of the panic surrounding the coronavirus outbreak, which led investors to move more money into sa... (read more)
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MBS Commentary
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A few notes on the bond market's recent plans:
First few days of 2020: Come into the new year ready for that break above 2.0% that everyone was expecting, but equally ready to react to unexpected geopolitical risk due to US/Iran conflict.&nb... (read more)
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Rob Chrisman
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Clients want LOs to be subject matter experts on products and current events. But what do lenders know about their LOs, their originator turnover rate, or what the age bracket is of the highest producing originators? More originators change jobs in t... (read more)
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Housing News
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Applications for mortgage financing increased again during the week ended February 7 despite a significant decline in those for home purchases. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan applica... (read more)
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Housing News
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Renters questions in a new Freddie Mac survey expressed a rather unfortunate misconception . In its new Profile of Today's Renter and Owner , the company said it found that "An unprecedented number of renters believe renting is more affordable than o... (read more)
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Housing News
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It seems as though legalized marijuana is said to be good for almost everything. Now a new study from the National Association of Realtors (NAR) has added real estate to the list. The impact is clearer when it comes to commercial properties, but agen... (read more)
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