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Mortgage rates haven't been this low for this long in years--3.5 years to be exact. Brexit was the talk of the town in the middle of 2016 and it resulted in rates very close to all-time lows for well over 3 months (all of July, Aug, Sept). Although rates aren't quite as low this time around, they average lender is still quoting 3.5% or lower on top tier scenarios. That's only happened on a consistent basis in 2016 and 2012. Moreover, the current stint is approaching a month in length. Combine that with the fact that rates haven't been over 3.875% since the middle of 2019, and the current mortgage environment is more than worthy of being viewed in the same legendary light as 2012 and 2016. In 2012 it was the European crisis and massive central bank bond buying. In 2016 it was Brexit and massive
Mortgage Rate Watch
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Mortgage rates haven't been this low for this long in years--3.5 years to be exact. Brexit was the talk of the town in the middle of 2016 and it resulted in rates very close to all-time lows for well over 3 months (all of July, Aug, Sept). Although r... (read more)
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Housing News
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The slight drop in mortgage rates in January stabilized refinance originations according to the January Origination Insight Report from Ellie Mae. The 3 basis point dip to an average rate of 3.96 percent kept the refinancing share of closed loans at ... (read more)
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Rob Chrisman
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Morgan Stanley buying E-Trade is causing some chatter this morning, and last night’s Democratic debate had plenty of chatter. (Some would use a stronger term than “chatter.” By the way, here’s a quick, easy quiz about which ca... (read more)
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Housing News
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Residential construction data was mixed at the kick-off of the new year. Permits increased significantly while both housing starts and completions pulled back from December numbers. The U.S. Census Bureau and Department of Housing and Urban developme... (read more)
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Housing News
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Mortgage loan applications submitted during the week ended February 14 declined for the first time since mid-January. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage loan application volume, decreased 6.4 perce... (read more)
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MBS Commentary
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At the start of the overnight session (yesterday night), 10yr yields were up around 1.58%. By 1030am ET, they'd already fallen to 1.525%. Up until that time, we hadn't heard so much as a peep out of global equities markets even ... (read more)
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