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Mortgage rates moved modestly lower today, but face an uphill battle in general. They fell very quickly as coronavirus first hit financial markets. They hit multiple new all-time lows in since March 9th and continued setting new records as recently as last week for some lenders. In fact, there are a few lenders that are offering their best rates ever TODAY. The catch is that these rates are very similar to those seen yesterday and the day before (and so on and so on). Markets are waiting to see if we can prevent a massive 2nd wave of coronavirus cases while still reopening the economy. To whatever extent that's possible, rates should begin to see gradual upward pressure. There's another important catch , and it's one we've talked about quite a bit in the past few months. At the very same lenders
Mortgage Rate Watch
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Mortgage rates moved modestly lower today, but face an uphill battle in general. They fell very quickly as coronavirus first hit financial markets. They hit multiple new all-time lows in since March 9th and continued setting new records as recently a... (read more)
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MBS Commentary
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Rising Rates Thwarted By Coronavirus Concerns
Stop us if you've heard this one before, but rates are low due to an unprecedented global emergency. Unless coronavirus situations deteriorates significantl... (read more)
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Housing News
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House prices continued to be unfazed by the current economic upheaval. The Federal Housing Finance Agency (FHFA) reports that its U.S. House Price Index for April, the first full month that reflects the impact of the pandemic, continued to rise almos... (read more)
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Rob Chrisman
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Companies worldwide are grappling with continued travel bans, and how to bring back employees in waves, if at all. Others are re-designing office layouts, thinking about renting more space, and looking at the cost of footprint changes. Some employees... (read more)
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Housing News
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The nine-week string of increases in purchase mortgage applications came to an end last week and refinancing volume pulled back as well. Consequently, the Mortgage Bankers Association's (MBA's) Market Composite Index, a measure of overall application... (read more)
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Housing News
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After its pandemic-related plunge in April, the rapid recovery of the Housing Market Index, a measure of builder confidence, seems justified by today's Census Bureau report on new home sales. For the second month in a row, sales of newly constructed ... (read more)
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