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At face value, the bonds that underlie the mortgage market didn't sustain too much damage today. If there was nothing else to inspire lender rate changes, we might not be too much worse vs yesterday. Unfortunately, there is an absolutely massive source of motivation that unexpectedly burst on the scene last night. If you're not already up to speed on it, READ THIS . As far as today is concerned, rates got torched . This is no surprise. Regulators just instantly doubled to fees they charge to provide guarantees for the mortgage market. Lenders will be forced to pay those fees on all loans that are already locked. Consumers will foot the bill for everything else. Strikingly, the pull-back from lenders is much bigger than the 0.5 points imposed by the GSEs because of the way the announcement was
Mortgage Rate Watch
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At face value, the bonds that underlie the mortgage market didn't sustain too much damage today. If there was nothing else to inspire lender rate changes, we might not be too much worse vs yesterday. Unfortunately, there is an absolutely massive sour... (read more)
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MBS Commentary
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First thing's first, any conversation about rates in a mortgage market context would be incomplete without considering this week's regulatory drama. Specifically, FHFA just more than DOUBLED G-fees for refinances. Read all about it in the... (read more)
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Rob Chrisman
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Hundreds of thousands of people in the lending industry, their borrowers, and vendors are grappling with the refi price hit announced Wednesday evening by FHFA Director Calabria. From the Carolinas I received this from Rhonda M. “We are into th... (read more)
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Housing News
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Two entities, Black Knight and the Mortgage Bankers Association (MBA) have been tracking loans in forbearance plans since the start of the pandemic. They have diverged a bit in their numbers over the last half year, but both agree, in their most rece... (read more)
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Housing News
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The Mortgage Bankers Association (MBA) is predicting another strong month for new home sales. The association says its Builder Application Survey (BAS) data for July 2020 shows mortgage applications for new home purchases increased 39 percent compare... (read more)
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Housing News
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Home prices continued to rise during the second quarter of the year, although at a slower pace than before the advent of the pandemic. The National Association of Realtors® (NAR) said its quarterly survey of metropolitan areas found that single-f... (read more)
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