Wed, Mar 24 2021, 8:50 AM
Mortgage originators' profits remained strong in the fourth quarter of 2020, although they were down considerably from the previous period. The Mortga...
Wed, Mar 24 2021, 8:36 AM
Mortgage application volume declined for the third consecutive time during the week ended March 19 as refinancing continued to retreat. The Mortgage B...
Tue, Mar 23 2021, 4:14 PM
Mortgage rates moved lower at a decent pace today for the 2nd day in a row. The average lender is still offering the same "note rate" compared to yest...
Tue, Mar 23 2021, 3:33 PM
Strong Move Today. Need Confirmation in Coming Days
Bonds walked their own path today with gains overnight h...
Tue, Mar 23 2021, 11:01 AM
The two-month rally in new home sales ended abruptly and definitively in February. The U.S. Census Bureau and Department of Housing and Urban Developm...
Tue, Mar 23 2021, 10:59 AM
Mortgage delinquency rates rose in February, ending eight straight months of recovery from the spike that followed the onset of the pandemic. Black Kn...
Tue, Mar 23 2021, 10:47 AM
Are you looking for signs of the times? The Wall Street Journal, along with supermarket flyers everywhere, tells us that there are more real-estate ag...
Tue, Mar 23 2021, 10:40 AM
Fed Chair Powell will be in the hot seat again today, only this time in the form of congressional testimony on the CARES Act. The prepared remarks fo...
Mon, Mar 22 2021, 4:34 PM
A new Freddie Mac survey found that both homeowners and renters are still concerned about their ability to pay their mortgage or their monthly rent as...
Mon, Mar 22 2021, 4:29 PM
Sales of existing homes fell sharply in February after two months of modest gains. The National Association of Realtors® said pre-owned single-family ...
Mon, Mar 22 2021, 4:24 PM
Not a Bad Day, But We Need More Convincing
Rates have tried to convince us that the worst is over on several...
Mon, Mar 22 2021, 12:19 PM
Fannie Mae made a few modest changes to its economic projections this month as consumer spending in January was above expectations and interest rates ...
Mon, Mar 22 2021, 10:31 AM
Is your business interest rate independent? Are you girding your loins? How is your overhead? If lenders are selling into the same MBS market, executi...
Mon, Mar 22 2021, 9:51 AM
Last week was the 7th straight week of higher bond yields--something we haven't seen since Q2 2009, when bonds were undergoing their first correction ...
Fri, Mar 19 2021, 4:47 PM
Fed Confirms Market's Fear; Bonds Manage to Hold This Week's Range
The last time bonds sold off for 6 consec...
Fri, Mar 19 2021, 12:19 PM
The number of loans in forbearance experienced the largest weekly decline since early January as servicers reviewed the hundreds of thousands that are...
Fri, Mar 19 2021, 10:36 AM
Based on the number of times members have searched the term "SLR" on MBS Live in the past week, we'll go ahead and cover it here again. SLR = Supplem...
Thu, Mar 18 2021, 4:48 PM
Despite your thoughts on the term "fake news," we have to talk about it in the context of mortgage rates . It's highly pertinent, even if deception is...
Thu, Mar 18 2021, 4:09 PM
Abandon Hope, All Ye Who Float Overnight
We're putting in for permits to build our own Pirates of the Caribb...
Thu, Mar 18 2021, 1:30 PM
It hasn't exactly been a scramble, but homeowners have stepped up their refinancing activity over the last two months as they saw interest rates begin...
Thu, Mar 18 2021, 1:27 PM
The Mortgage Bankers Association (MBA) is predicting a slowdown in new home sales when the Census Bureau releases its statistics next week. MBA's Buil...
Thu, Mar 18 2021, 11:26 AM
Powell was reasonably dovish yesterday. He immediately shut down a reporter who asked when we could talk about tapering. He reiterated the need to r...
Thu, Mar 18 2021, 10:11 AM
The Internal Revenue Service is not known for being creative, but yesterday it was announced that the usual tax deadline of 4/15 has been moved to 5/1...
Wed, Mar 17 2021, 4:39 PM
Mortgage rates started the day in bad shape after significant bond market weakness overnight. Treasury yields rose roughly 0.05%, and that sort of mov...
Wed, Mar 17 2021, 4:36 PM
Powell Punts on SLR; Bonds Survive... Sorta
Today could have been much worse even though no one will look...
Wed, Mar 17 2021, 2:00 PM
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum ...
Wed, Mar 17 2021, 10:25 AM
Whether or not it was another biproduct of the pandemic, The National Association of Realtors® (NAR) said the popularity of multigenerational homes in...
Wed, Mar 17 2021, 10:20 AM
It looked last month as though residential construction was about to take off. While starts were down in January, permits surged by 10.4 percent. Buil...
Wed, Mar 17 2021, 9:56 AM
For the 17th time in 2021, we can unhappily re-use the same lead in: just when you thought bonds surely wouldn't get any weaker... 10yr yields hit mo...
Wed, Mar 17 2021, 9:17 AM
Many years ago I asked my father about why we didn’t have a home gym. He replied, “Want exercise? Jog to the liquor store and get me a beer, then do a...
Wed, Mar 17 2021, 8:40 AM
Mortgage application volume declined again during the week ended March 12, as refinancing deflated in the face of rising interest rates. The Mortgage ...
Tue, Mar 16 2021, 4:08 PM
Mortgage rates rose moderately today, depending on the lender. It's worth noting that lender pricing is exceptionally widely stratified at the moment....
Tue, Mar 16 2021, 3:53 PM
No Help From Strong Auction or Weak Data; Waiting on The Fed
Bonds shrugged off a big miss in Retail Sales t...
Tue, Mar 16 2021, 11:38 AM
Escalating costs took a toll on builder confidence this month. The National Association of Home Builders (NAHB) said its Housing Market Index dipped t...
Tue, Mar 16 2021, 10:30 AM
Time flies. Ringo is 80!? I bet he’s done some vacationing in the last 60 years. I gave my wife a dart and a poster of a world map and told her, “Thro...
Tue, Mar 16 2021, 10:19 AM
So far this morning, bonds have passed over the econ data in favor consolidating inside Friday's trading range. Given the proximity of the Fed announ...
Mon, Mar 15 2021, 3:52 PM
Fighting Good Fight, Waiting on Fed Day
Coming off a fairly rough Friday at the end of last week, it's mildl...
Mon, Mar 15 2021, 11:27 AM
A study by ApartmentList has identified a new category of workers, arising, at least in part, out of the pandemic. Lynn Pollack, writing in GlobeSt , ...
Mon, Mar 15 2021, 10:01 AM
Here we are at the Ides of March: only two weeks until the end of the 1st quarter! The time is flying by and time is precious. Last night I slept on t...
Mon, Mar 15 2021, 9:21 AM
Last week ended poorly for the bond market with yields jumping to new one year highs. It was also the first full week with 10yr yields trading above 2...
Fri, Mar 12 2021, 3:36 PM
Sobering Reminder About Rising Rate Trend
By yesterday afternoon, the bond market had managed to string toge...
Fri, Mar 12 2021, 3:07 PM
Fannie Mae announced March 10 that they are limiting new loans secured by second homes or investment properties to 7% of the overall loans they purcha...
Fri, Mar 12 2021, 1:21 PM
Homeowners' housing wealth grew by record numbers in the fourth quarter of last year . CoreLogic, in its Home Equity Report for the period, says the a...
Fri, Mar 12 2021, 11:15 AM
Black Knight notes a large improvement in forbearance statistics during the week ended March 9. The number of loans in active plans dropped by 77,000 ...
Fri, Mar 12 2021, 10:27 AM
By yesterday afternoon, the bond market had managed to string together several of the most reassuring days of 2021. Today's early losses provide a wa...
Fri, Mar 12 2021, 9:56 AM
A year ago… remember when you couldn’t find toilet paper for sale? Now you can’t find a house for sale. But there are plenty of Agency MBS and other d...
Thu, Mar 11 2021, 3:50 PM
Mortgage rates improved microscopically today as the underlying bond market stayed uncharacteristically steady. Since the beginning of 2021, bonds hav...
Thu, Mar 11 2021, 3:36 PM
Tame Treasury Auctions. What's Up With New NOO/2nd Fees?
The week's biggest potential market movers (the 10...
Thu, Mar 11 2021, 12:55 PM
Fannie Mae has sent lenders an advanced notice that additional risk criteria is coming for loans it acquires from lenders. Lender Letter 2021-08 lays ...
Thu, Mar 11 2021, 12:53 PM
Access to mortgage credit remained unchanged in February after making modest gains over the previous four months. The Mortgage Bankers Association sai...
