Mon, Nov 27 2017, 9:41 AM
Over the past two months, we've seen higher lows and lower highs in 10yr yields and mortgage rates. On a chart, this looks like 2 sides of a "triangl...
Mon, Nov 27 2017, 9:16 AM
It should be an interesting day at the Consumer Financial Protection Bureau (CFPB). In fact, the Federal Reserve, which is charged with funding the ag...
Mon, Nov 27 2017, 9:10 AM
The darkest, blackest material known to man? Vantablack . Don't be the last to paint your car with it. Speaking of looking into voids, who is in charg...
Fri, Nov 24 2017, 1:53 PM
Mortgage rates were roughly unchanged today. That's not too surprising considering lenders don't tend to make big moves on the Friday after Thanksgivi...
Fri, Nov 24 2017, 9:13 AM
Plenty of lawyers are basketball fans. What had once looked like a defense slam-dunk now isn’t: A federal judge declined to dismiss a fan’s suit that ...
Fri, Nov 24 2017, 7:38 AM
Today is boring . It was destined to be boring (probably) before it even occurred, and even if it gives the appearance of being exciting at some poi...
Wed, Nov 22 2017, 4:38 PM
We've discussed the tenor of Thanksgiving week in bond markets being more to do with serendipity than traditional "cause and effect" relationships. T...
Wed, Nov 22 2017, 2:55 PM
Mortgage rates fell modestly today, with bond market strength both before and after the release of the Fed Minutes (a more detailed account of the Fed...
Wed, Nov 22 2017, 11:42 AM
As predicted, mortgage delinquencies resulting from Hurricanes Harvey and Irma continued to play out in October. Black Knight Financial Services, in i...
Wed, Nov 22 2017, 8:59 AM
The lending world has plenty of truly very busy people. (Or maybe that is what they tell their bosses.) How best to communicate with them? Here’s an a...
Wed, Nov 22 2017, 8:47 AM
This month's half-hearted rally in refinancing didn't last long . During the week that ended November 10, applications for refinancing made up more th...
Wed, Nov 22 2017, 8:34 AM
To be sure, market participants have one foot out the door today--either mentally, physically, or both. This has already been made quite clear in the...
Tue, Nov 21 2017, 5:18 PM
So far this week, both of the trading days have done everything in their powe r to be as meaningless as possible. There have been no major attempts ...
Tue, Nov 21 2017, 3:34 PM
Mortgage rates were unchanged today, on average, although a few lenders made small adjustments to rates sheets in response to bond market volatility. ...
Tue, Nov 21 2017, 11:00 AM
Existing home sales continued a gradual recovery in October after a summer of sliding sales. For the second straight month the National Association of...
Tue, Nov 21 2017, 9:40 AM
Freddie Mac's Economic and Strategic Research Team gave its forecast for housing in 2018 (which, as discussed below, it is now hedging a bit) in its O...
Tue, Nov 21 2017, 9:19 AM
What is more relaxing than breakfast in bed? IHOP is there for you, and is testing IHOP home delivery in various states. Roshambo to see who answers t...
Tue, Nov 21 2017, 9:12 AM
It's no great mystery that momentum in bond markets (at least in 10yr Treasury yields and MBS) is sharply sideways at the moment--not only in terms ...
Mon, Nov 20 2017, 4:59 PM
Looked at under a microscope, there was a fair amount of intraday volatility this morning. Treasury yields fell overnight, reaching the best levels...
Mon, Nov 20 2017, 2:46 PM
Mortgage rates moved slightly higher today against the backdrop of the unique bond market conditions seen on Thanksgiving week. Bond markets underlie ...
Mon, Nov 20 2017, 9:42 AM
Compared to stocks, bond markets tend to be more affected by changes in market participation surrounding holidays and other sources of illiquidity. L...
Mon, Nov 20 2017, 9:28 AM
Mortgage delinquencies surged higher in the third quarter of 2017. Most of the increase came in the early stages of non-performance, and much of it ap...
Mon, Nov 20 2017, 9:14 AM
Thanksgiving week already! Let’s temporarily shift from residential lending to economics. According to the SalaryforPilot website, Air Force pilots ea...
Fri, Nov 17 2017, 5:29 PM
Housing activity in the third quarter of 2017 is described as "continuing its rough patch" in Fannie Mae's latest edition of Economic Developments . T...
Fri, Nov 17 2017, 5:28 PM
With today's modest gains, bond markets did exactly what they need to in order to keep the medium term momentum technicals perfectly flat (that flat...
Fri, Nov 17 2017, 4:53 PM
Mortgage rates barely budged today--not too surprising considering today's bond market levels (which underlie rates) were roughly in line with yesterd...
Fri, Nov 17 2017, 10:12 AM
The interest rate for loans originated (closed) in October inched down 1 percentage point to 4.20 percent, the lowest rate thus far in 2017, and the s...
Fri, Nov 17 2017, 9:59 AM
It has been a while since all three measures covered in the residential construction report were strongly positive. In fact, certain metrics bordered ...
Fri, Nov 17 2017, 9:35 AM
Take a few steps back from the shorter-term charts (we tend to watch at 2-day chart for most lock/float purposes on MBS Live ) and a theme begins to...
Fri, Nov 17 2017, 9:22 AM
Here’s a tidbit for Happy Hour tonight. Currently, about 21 percent of filers take the mortgage deduction, but under the new framework only about 4 pe...
Thu, Nov 16 2017, 5:17 PM
Bond markets are officially looking for inspiration, motivation, or even just something to pass the time. Today's events didn't seem to do the trick ...
Thu, Nov 16 2017, 4:36 PM
Mortgage rates moved higher today, but the changes were minimal for most lenders. Bond markets (which underlie interest rates) have been searching for...
Thu, Nov 16 2017, 10:38 AM
Builder confidence increased for the second consecutive month after taking a hit in September from the late summer hurricanes. The National Associatio...
Thu, Nov 16 2017, 9:50 AM
Richard Cordray, first Director of the Consumer Financial Protection Bureau (CFPB), will leave the agency at the end of the month. Cordray announced h...
Thu, Nov 16 2017, 9:09 AM
I think the rumors out there about Richard Cordray taking a much deserved break and then, forget that governor stuff, stepping into Dave Stevens' shoe...
Thu, Nov 16 2017, 8:36 AM
While today will play host to another set of economic reports as well as the House vote on its version of the tax bill, bond markets may continue to l...
Wed, Nov 15 2017, 4:38 PM
As noted in today's MBS Huddle, an absence of any selling pressure in bond markets was a positive result in itself. Selling pressure would have bee...
Wed, Nov 15 2017, 3:26 PM
Mortgage rates fell today, largely in response to the past two days of bond market improvement. In other words, lenders had been keeping their guard u...
Wed, Nov 15 2017, 12:24 PM
With new home building still lagging other measures of the housing recovery, and lean inventories of new homes causing shortages of existing homes as ...
Wed, Nov 15 2017, 10:29 AM
FHA's Mortgage Insurance Fund (MIF) lost ground this past year, which is bad news for those hoping for a cut in its fees. The Department of Housing an...
Wed, Nov 15 2017, 9:18 AM
I remember when being worth a million bucks really meant something, and my parents occasionally pointed out someone who they thought was a millionaire...
Wed, Nov 15 2017, 8:56 AM
The week ended November 10 saw a strong pickup in applications for refinancing but continued weakness in those for home purchases. The Mortgage Banker...
Wed, Nov 15 2017, 8:24 AM
Bonds begin the day much-improved from yesterday's levels, effectively showing their hand ahead of today's important economic data. In other words, t...
Tue, Nov 14 2017, 4:47 PM
The past two sessions have been fairly nondescript in the bigger picture. Both have traversed almost exactly the same trading range. Both have ex...
Tue, Nov 14 2017, 4:09 PM
Mortgage rates didn't move much today, despite moderate improvements in bond markets. Typically, stronger bond markets result in lower rates, but if a...
Tue, Nov 14 2017, 11:24 AM
The Mortgage Bankers Association (MBA) says that information collected through its Builder Application Survey (BAS), shows mortgage applications for n...
Tue, Nov 14 2017, 10:52 AM
To no one's surprise, measures of mortgage distress , including delinquencies, serious delinquencies, and foreclosures, were down again in August , wi...
Tue, Nov 14 2017, 10:00 AM
Most households buy a home to live in and raise a family. Consequently, they may not view a home as a financial asset in the same way they view their ...
Tue, Nov 14 2017, 9:45 AM
Bond markets are starting the day in fairly similar territory to Friday's latest levels for the 2nd day in a row. As I said yesterday, this is a prec...
Tue, Nov 14 2017, 9:23 AM
Are we destined to have robots making home loans ? I sure hope not, although no one has ever accused robots of being shilly-shally. And I sure hope th...
