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Last week ended on positive note for mortgage backed securities and mortgage rates. As stock indexes fell, market participants re-allocated portfolios from risky assets to safer investments, resulting in added demand for government AAA rated fixed income securities. The benchmark 10 yr Treasury note...
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Prices of mortgage backed securities posted modest gains yesterday in an uneventful trading session. Intraday gains didn’t warrant reprices for the better from lenders, however because the rally has carried over into today, mortgage rates are better this morning! This morning we got a read on the...
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Mortgage rates were unchanged as the third quarter came to a close yesterday. MBS prices have moved sideways at their highest levels in over four months after rallying to those levels on Monday. With today's economic data releases, prices are moving HIGHER, pushing into levels not seen since the...
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Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.
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The secondary mortgage market went on quite a ride yesterday! Following a weaker than expected 5 year Treasury note auction, market participants hurriedly sold their fixed income investments ahead of the FOMC statement. This led to MBS falling below the recent range and a few lender reprices for the...
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It was a bumpy ride in the secondary mortgage market yesterday. At the open, MBS prices moved considerably higher, however, the gains did not last long. Most lenders issue rate sheets around 10am eastern and by that time, MBS had given back all of the early morning gains. This forced several lenders...
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Activity in commercial real estate continued to decline in the second quarter, pushing activity to its lowest level in 15 years, an industry survey said. The Commercial Leading Indicator for Brokerage Activity, which has been tracking the industry since 1990, softened by 1.3% between April and June to...
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NAR only began the fight when they realized it was affecting them. I've been a member of NAR for 34 years and have found that they never really cared about appraisers. That is why they split with the Appraisal Institute ( who themselves are pathetic in their fight against HVCC). NAMB is the only...
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The Pending Home Sales Index rose more than expected with a 3.2% advance in March, against forecasts that it would be unchanged after a revised 2.0% gain in February. The index now stands at 84.6. Annually, pending sales have risen 1.1% since March 2008. The index, released by the National Association...
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A rate decision from the Bank of Canada, the release of U.S. auto sales data for February and a barrage of central bank and government speakers are the main events of the North American session, while European market participants will focus on comments from their own central bankers. At 8 a.m. EST, Atlanta...