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It's Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. News organizations and even some bond market strategists (sadly) rely on Freddie's weekly update for a sense of mortgage rate movement. That's why an overwhelming majority of the new mortgage rate articles on any given week come out on Thursdays. Unfortunately , the unified onslaught of news coverage adds unjustified credibility to what is at best stale information. This creates uncomfortable conversations for loan originators and their clients who ask why their recently quoted rate isn't any lower. After all, today's rates are at all-time lows, right?! Wrong... And that's not just a halfhearted "wrong" due to some technicality or tricky math. Today's rates are actually and unequivocally not even
Mortgage Rate Watch
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It's Thursday and thus time, once again, for the weekly mortgage rate survey from Freddie Mac. News organizations and even some bond market strategists (sadly) rely on Freddie's weekly update for a sense of mortgage rate movement. That's why an overw... (read more)
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MBS Commentary
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There's nothing quite like the visual (and visceral) impact of opening up MBS Live in the morning only to see a big drop in the blue line. Today is one of those days. For those who haven't gotten around to it yet, let's get it out of the ... (read more)
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Rob Chrisman
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Plenty of people tell me that I should “head down to Clown Town.” I never know quite how to take that. But now we have Zoom Towns ,” and thank you to Carol K. for sending this along. And I am planning on living in one since… ... (read more)
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Housing News
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Fannie Mae says its Home Purchase Sentiment Index (HPSI) which, before a slight setback in July, had been rebounding strongly from its April COVID-19 related plunge, got back on track last month. The August index, based on responses to six questions ... (read more)
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Housing News
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While servicing income was down, independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks had a very profitable second quarter. They reported an average net gain of $4,548 on each loan they originated, up from a reported gain of... (read more)
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Housing News
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The volume of mortgage applications reversed direction last week, pulling out a small gain after three straight weeks of declines. The Mortgage Bankers Association's (MBA's) Weekly Mortgage Applications Survey for the week ending September 4, was up ... (read more)
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