Tue, May 7 2019, 10:52 AM
Home price growth continued to slow on an annual basis in March. The CoreLogic Home Price Index (HPI) shows home prices increased from the previous Ma...
Tue, May 7 2019, 8:53 AM
In the day just past, a weekend Trump tweet announcing increased tariffs on China sent bond yields and stock prices much lower. Both bounced back thr...
Tue, May 7 2019, 8:36 AM
If you want to have more of your financial future tied to lending, PennyMac Mortgage Investment Trust (PMT) announced the pricing of an underwritten p...
Mon, May 6 2019, 5:13 PM
Today represented a classic example of the old market adage "buy the rumor, sell the news." It also offered two different takes on that strategy fr...
Mon, May 6 2019, 4:17 PM
Mortgage rates dropped noticeably this morning as financial markets opened sharply changed from Friday's latest levels thanks to Trump trade tweets ov...
Mon, May 6 2019, 9:09 AM
Welcome to May 6th, the anniversary of the first tequila hangover. (Yes, for those of you who wrote, I know that May 5 is not Mexican Independence Day...
Mon, May 6 2019, 8:59 AM
The week begins with bonds trading in much stronger territory thanks to a surprise US/China trade announcement from Trump over the weekend. This cha...
Mon, May 6 2019, 8:44 AM
Prepayment rates historically tend to increase in the spring, but this year they have been exceptionally high. The rate has risen during March in 18 o...
Fri, May 3 2019, 5:28 PM
Bond traders can book profits on bond purchases by selling, or on bond sales by buying. Today was characterized by the latter.
Logically, traders...
Fri, May 3 2019, 5:02 PM
Mortgage rates were flat today, which is a victory considering the big jobs report was stronger than expected. Typically, labor market strength--espec...
Fri, May 3 2019, 1:10 PM
Ginnie Mae has issued a formal request for input regarding changes to its II Multi-Issuer Program (GII MIP). That program represents almost a third of...
Fri, May 3 2019, 9:08 AM
On the trading desk we would always chuckle when someone would occasionally cry out, “Oh! I was working so hard I forgot to eat!” Really? One thing is...
Fri, May 3 2019, 8:22 AM
In the day just past, bonds sold off due to what appears to be market dissatisfaction with a hawkish message from the Fed. This largely came courtesy...
Thu, May 2 2019, 5:38 PM
Treasuries weakened today as traders continued to price out a friendly Fed. This wasn't necessarily destined to be the case after yesterday's Fed Ann...
Thu, May 2 2019, 5:21 PM
The government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac released their first quarter financial results on Wednesday. Both had slightly ...
Thu, May 2 2019, 5:04 PM
Mortgage rates didn't move much today, but the average lender is quoting microscopically higher rates, if anything. Week-over-week, it wouldn't be unf...
Thu, May 2 2019, 10:31 AM
2.50% has been more than just a reasonably round number marking the midpoint between 2.0% and 3.0% as far as 10yr Treasury yields are concerned. Actu...
Thu, May 2 2019, 9:28 AM
I was on a flight yesterday to Orlando for the MBAG annual conference on the coast. The plane was packed, half with 4-13-year-old passengers bound for...
Wed, May 1 2019, 5:02 PM
The overnight session was very quiet for bonds with most major markets closed for various holidays. The first meaningful movement followed the ISM Ma...
Wed, May 1 2019, 4:37 PM
Mortgage rates finally moved in a direction that wasn't "up" today. That said, it's debatable whether the direction would be best described as "lower"...
Wed, May 1 2019, 2:02 PM
Information received since the Federal Open Market Committee met in January March indicates that the labor market remains strong but and that g...
Wed, May 1 2019, 12:20 PM
Publicly and privately funded construction put in place in March had an estimated value of $1.282 trillion on a seasonally adjusted annual basis. This...
Wed, May 1 2019, 9:21 AM
Why don't you ever see the headline, “Psychic Wins Lottery?” Some people believe that economists have the ability to predict rates, bookmakers have th...
Wed, May 1 2019, 9:04 AM
Although the 10am ISM Manufacturing Report can definitely have an impact on bonds today, The 2pm FED Announcement at 2:30pm press conference is th...
Wed, May 1 2019, 8:14 AM
Despite a decline in interest rates, mortgage volume took a significant hit during the week ended April 26. The Mortgage Bankers Association (MBA) rep...
Tue, Apr 30 2019, 5:49 PM
Open up MBS Live today and you'll be greeted with plenty of reassuring green numbers and positive reprice notifications. Unfortunately, those repri...
Tue, Apr 30 2019, 5:17 PM
Mortgage rates moved up again today, despite modest improvement in the bond market (which typically coincides with lower rates). Part of the reason fo...
Tue, Apr 30 2019, 4:55 PM
Freddie Mac's April economic forecast focuses on interest rates and their impact on housing as the company's Economic & Housing Research Group revises...
Tue, Apr 30 2019, 11:03 AM
The yield curve--technically a reference to the full spectrum of Treasury yields versus duration/maturities (i.e. 2, 3, 5, 7, 10, 30 years), but often...
Tue, Apr 30 2019, 10:44 AM
The S&P CoreLogic Case-Shiller Indices for February continue to show a slowdown in home price gains on a year-over-year basis although all of the mont...
Tue, Apr 30 2019, 10:10 AM
Pending home sales posted a second solid performance in 2019 , with home purchase contract signings in March recovering from their slight dip in Febru...
Tue, Apr 30 2019, 9:02 AM
Well, we’ve sailed through another perfectly good month. Wasn’t it just New Years? There are plenty of interesting things going on in residential lend...
Tue, Apr 30 2019, 8:13 AM
CoreLogic says that, while the incidence of mortgage fraud has remained relatively stable in recent quarters, income fraud remains a growing problem. ...
Mon, Apr 29 2019, 5:58 PM
Friday was pretty great for bond markets. It was a solid day of gains at the end of a week where we'd already had two other solid days of gains. A...
Mon, Apr 29 2019, 5:29 PM
Mortgage rates moved up today, but at a fairly tame pace in the bigger picture. The rest of the week, however, may not be as tame. There are multiple ...
Mon, Apr 29 2019, 10:28 AM
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 8.0 percent in March, growing from 3.0 percent the...
Mon, Apr 29 2019, 9:55 AM
This is a very big weak in terms of economic data and its relationship with bond market trading levels. In a nutshell, yields dropped sharply into a ...
Mon, Apr 29 2019, 9:08 AM
When I was a kid in California, as with my parents and their parents, and their parents, flowers and fruits had seasons. Roses bloomed in the spring. ...
Fri, Apr 26 2019, 7:09 PM
Mortgage rates improved again today, keeping the week-over-week move decidedly friendly. For more on the weekly move, see the in-depth discussion in y...
Fri, Apr 26 2019, 11:44 AM
GDP was hotly anticipated this week and rightfully so. The trading reaction has been the week's most volatile and has carried the most volume. Parad...
Fri, Apr 26 2019, 10:06 AM
Both homeownership and vacancy rates were essentially unchanged in the first quarter of this year according to data released on Thursday by the U.S. C...
Fri, Apr 26 2019, 9:26 AM
M&A is rampant, big and small, and is expected to continue throughout 2019. There’s a constant stream of individual branch or small company moves, but...
Thu, Apr 25 2019, 5:05 PM
The bond market took a pass today as traders generally let supply considerations and positioning rule the day. Supply considerations came courtesy of...
Thu, Apr 25 2019, 4:38 PM
Mortgage rates held fairly steady today with the average lender unchanged to just slightly higher on the day. That's fairly good news considering yest...
Thu, Apr 25 2019, 2:13 PM
Home flipping, buying a property with the intent to sell it in a short period of time at a profit, is more popular than almost ever , but a study by C...
Thu, Apr 25 2019, 10:35 AM
Here's a quick recap of the past year or so. Bond yields were near long-term highs in the first part of 2018 following the passage of the tax bill ...
Thu, Apr 25 2019, 9:22 AM
In low down payment and HFA news, HUD, dba the FHA, has agreed to a 90-day stay in implementation of Mortgagee Letter 19-06 (regarding down payment as...
Thu, Apr 25 2019, 8:14 AM
The declining interest rates earlier in the year along with increased refinancing made themselves felt in March as prepayment activity surged. Black K...
Wed, Apr 24 2019, 5:15 PM
Here come those "global growth concerns" again! It's nothing too huge or scandalous, but today's scorecard offered several anecdotes that fueled a do...
Wed, Apr 24 2019, 4:39 PM
Mortgage rates moved lower at their best pace in several weeks today, with the average lender making it back to levels not seen since April 12th. The ...
