Thu, Sep 12 2019, 9:02 AM
I apologize in advance for the length of today’s commentary, but there’s a lot going on! Ask any economist if rent control works, and they’ll say, “No...
Thu, Sep 12 2019, 8:18 AM
Mortgage application fraud declined in the second quarter of this year. CoreLogic's report on the incidence says that one out of every 123 mortgage ap...
Wed, Sep 11 2019, 5:30 PM
Bond traders took a break from their newfound hobby of the past 5 business days: relentlessly selling bonds . Maybe they want to branch out and try ...
Wed, Sep 11 2019, 5:04 PM
Mortgage rates were roughly unchanged today for the average lender as underlying bond markets finally calmed down. Over the past few days, bond yields...
Wed, Sep 11 2019, 10:35 AM
Mortgage lenders reflected a lot of optimism about their business prospects in the third quarter Mortgage Lender Sentiment Survey conducted by Fannie ...
Wed, Sep 11 2019, 9:50 AM
In the day just passed, bonds kicked into higher gear with respect to the correction that began to materialize last Thursday. If you feel like you mi...
Wed, Sep 11 2019, 8:51 AM
Is our housing system a dumpster fire ?” (I don’t think so; we have hundreds of thousands helping millions every year although F&F would be better off...
Wed, Sep 11 2019, 8:15 AM
Although the week ended September 7 was shortened by the Labor Day holiday, mortgage application volume managed an increase. It was the first week-ove...
Tue, Sep 10 2019, 6:14 PM
Bonds continued to sell-off again today--this time slightly more aggressively than yesterday. Yes, the current spike in yields/rates is frustrating, ...
Tue, Sep 10 2019, 5:38 PM
Mortgage rates and the broader bond market are both in the midst of a correction after hitting the best levels in more than 3 years last week. This is...
Tue, Sep 10 2019, 11:36 AM
While it doesn't appear to be of "canary in the coalmine" magnitude, CoreLogic notes that there were annual increases in the delinquency rates of eigh...
Tue, Sep 10 2019, 9:16 AM
In the day just passed, bonds began the week with a resolute sell-off that broke through an important overhead ceiling in 10yr yields (1.62). Weaknes...
Tue, Sep 10 2019, 8:42 AM
The gap between the haves and have-nots continues to widen. Though the wealth of U.S. households has eclipsed $100 trillion, the wealthy have primaril...
Tue, Sep 10 2019, 8:18 AM
Funny what several dozen downticks in interest rates will do consumers' perceptions of the mortgage market. Fannie Mae said today that its Home Purcha...
Mon, Sep 9 2019, 6:26 PM
Bonds were weaker overnight, weaker during the AM hours, and just for good measure, weaker again in the afternoon. When the dust cleared, 10yr yields...
Mon, Sep 9 2019, 5:25 PM
Mortgage rates moved higher today at the fastest pace in several months today. The underlying bond market (which dictates rates) was merely hinting at...
Mon, Sep 9 2019, 9:38 AM
Low interest rates continue to expand the pool of refinancible mortgages and bolster mortgage prepayment rates according to Black Knight's Mortgage Mo...
Mon, Sep 9 2019, 9:13 AM
Bonds are starting out in weaker territory this morning, mostly due to European trading hours. An improving US/China trade dialogue has been the defa...
Mon, Sep 9 2019, 8:44 AM
The United States is filled with historical and geographic trivia. Reno, Nevada, is farther west than San Diego, California. Johnson City, Tennessee i...
Fri, Sep 6 2019, 5:37 PM
To be sure, there was at least some amount of trepidation ahead of today's jobs report. The past 2 trading days made a clear case for it with stronge...
Fri, Sep 6 2019, 4:58 PM
Mortgage rates held steady today, which is a victory in light of yesterday's big jump higher. Part of that jump was due to fear that today's jobs repo...
Fri, Sep 6 2019, 11:45 AM
The title is a bit misleading. 2.5% coupons are nothing new--especially if we're talking about 15yr MBS. Even in 30yr MBS, 2.5s were being traded as...
Fri, Sep 6 2019, 11:24 AM
The Treasury Department released the Trump Administration's long-awaited plan for reforming the nation's housing finance system on Thursday. Treasury ...
Fri, Sep 6 2019, 9:08 AM
Yesterday the industry reacted to the topic of housing finance reform. HUD presented its plan for FHA . But, like Farrah Fawcett passing away on the s...
Thu, Sep 5 2019, 4:36 PM
It's only fitting to throw in a vacation-themed reference on Labor Day week. Unfortunately, only the metaphor is lighthearted. It's underlying messa...
Thu, Sep 5 2019, 3:50 PM
Mortgage rates walked back a decent chunk of their recent improvements today. This claim runs counter to almost any other coverage you'll see, but I'm...
Thu, Sep 5 2019, 11:24 AM
Fewer prospective homeowners are making the move from thinking about buying to actively shopping than a year ago, according to a new study by the Nati...
Thu, Sep 5 2019, 10:58 AM
A new study by the Mortgage Bankers Association (MBA) looks at lending and servicing of home equity lines of credit (HELOCs) and closed-end home equit...
Thu, Sep 5 2019, 10:00 AM
In the day just passed, the bond market endured a bit of selling pressure courtesy of various overseas developments and an onslaught of corporate bond...
Thu, Sep 5 2019, 9:16 AM
Construction spending inched up by 0.1 percent in July, to a seasonally adjusted annual rate of $1.289 trillion compared to $1.288 trillion in June. T...
Thu, Sep 5 2019, 9:05 AM
Do you know what is picking up steam out there? Credit unions are on a “bank buying spree.” The numbers aren’t huge, but these not-for-profit financia...
Wed, Sep 4 2019, 8:23 PM
The past several days have been very good to the mortgage market. The secondary side of the market had been waiting for spreads to be able to tighten...
Wed, Sep 4 2019, 6:09 PM
Mortgage rates are on a tear . In the bigger picture, 2019 has been the best year in more than a decade. Only 2002 was arguably on the same level in t...
Wed, Sep 4 2019, 9:15 AM
In the day just passed, bonds rallied to start the overnight session, largely following Brexit-related trading in Europe. Yields rose moderately head...
Wed, Sep 4 2019, 9:04 AM
Would you transfer a quarter million smackers if your boss told you to? Let’s just remind every lender, and every bank: you have the money and others ...
Wed, Sep 4 2019, 8:31 AM
The Urban Institute (UI) says the recent surge of investor purchases of single-family homes is raising related policy issues. In blog post examining t...
Wed, Sep 4 2019, 8:09 AM
Mortgage application volume declined for the third consecutive week during the period ended August 30. The Mortgage Bankers Association said its Marke...
Tue, Sep 3 2019, 5:31 PM
Today had potential to be one of those days where overnight give way to a frustrating sell-off that intensifies throughout the day. In fact, that wo...
Tue, Sep 3 2019, 5:05 PM
Mortgage rates had to endure some paradoxical momentum and delayed reaction to the broader bond market rally lately, but now, it's payback time! Not o...
Tue, Sep 3 2019, 9:46 AM
A second housing price index is showing an uptick in the rate of appreciation, possibly because interest rates declines have begun to mitigate afforda...
Tue, Sep 3 2019, 9:26 AM
In the week just passed, Treasuries put in their most stable and uninspiring performance of the month (in their defense, it was a crazy month). Ever...
Tue, Sep 3 2019, 9:00 AM
We’re two-thirds of the way through with the third quarter of 2019, and with Labor Day behind us places like Minneapolis and Seattle are losing three ...
Fri, Aug 30 2019, 9:18 AM
In the day just passed, the Treasury complex came under pressure on several fronts. Trade related headlines sapped some of the safe haven demand, as ...
Fri, Aug 30 2019, 9:04 AM
As Floridians watch “Storm Porn,” as the weather channel is called, Tennessee is buzzing about this Nashville Realtor’s marketing . (Warning: Rated a ...
Fri, Aug 30 2019, 8:45 AM
There was a dramatic turnaround for many mortgage banks in the second quarter as their production profits increased nearly six-fold compared to the pr...
Fri, Aug 30 2019, 8:33 AM
At least one housing index is seeing a turn-around in the direction of home prices . Black Knight says the continuing decline of interest rates have i...
Fri, Aug 30 2019, 8:12 AM
Housing led the way into the last recession, now Freddie Mac's economists are suggesting it might help stave off the next one or at least modify its s...
Thu, Aug 29 2019, 4:57 PM
Bonds were weaker overnight in response to upbeat trade headlines from China's commerce minister as well as Italian political news (read the MBS Liv...
Thu, Aug 29 2019, 4:12 PM
Two days ago, I wrote an article entitled " No, Mortgage Rates Aren't Based on 10yr Treasury Yields ." It's worth a read if you're not already up to s...
Thu, Aug 29 2019, 10:26 AM
Pending home sales moved lower in July, declining by 2.5 percent. After two consecutive months of gains the National Association of Realtors'® (NAR's)...
