Mon, Nov 2 2015, 10:09 AM
There was a sizable increase in mortgage originations for
condominiums and cooperatives in the second quarter of 2015. Purchase applications ros...
Mon, Nov 2 2015, 9:14 AM
November
already? Thanksgiving is approaching, and in honor of that I shot my
first turkey yesterday. Scared everyone in the frozen food's section...
Mon, Nov 2 2015, 8:26 AM
To reiterate the most important takeaway from last week, the verbiage change in the FOMC Announcement was a big deal . When viewed in conjunction wi...
Mon, Nov 2 2015, 5:40 PM
Bond markets began the day under pressure from decent economic data in Europe and the continuation of generally negative momentum coming off last week...
Mon, Nov 2 2015, 5:03 PM
Mortgage rates continued slightly higher today, after hitting 1-month highs late last week. In general, the mortgage rate environment has been un...
Mon, Nov 2 2015, 2:40 PM
Purchase
lending in June was at its highest level since the beginning of the housing
crisis and early reports from the third quarter indicate that...
Mon, Nov 2 2015, 1:14 PM
Residential
construction spending performed slightly better than construction spending as a
whole in September although the entire construction se...
Fri, Oct 30 2015, 10:24 AM
Besides
the adults taking over Halloween, and the underwriting department
duking it out with accounting to see who takes home this year's
depart...
Fri, Oct 30 2015, 7:32 AM
One of my favorite little snippets of analytical wisdom (or perhaps it's an out that I leave myself in case I'm wrong... yes, that's probably it) is s...
Fri, Oct 30 2015, 5:03 PM
Bond markets continued to trade resiliently through the close today with the help of month-end buying demand. A small-scale battle played out earli...
Fri, Oct 30 2015, 3:10 PM
Mortgage rates avoided any further damage today after moving to the highest levels in a month yesterday. The past two days made for the sharpest ...
Fri, Oct 30 2015, 1:29 PM
Incidents of fraudulent mortgage applications remained stable
in the second quarter of 2015. CoreLogic,
in its Fraud Report for the quarter, esti...
Fri, Oct 30 2015, 1:12 PM
I was going to title this mid-day post something like "uneventfully holding most of yesterday's losses," but I almost fell asleep just writing it. Th...
Thu, Oct 29 2015, 12:59 PM
Yesterday was obviously bad for bond markets. The shift in tone from the Fed caught many market participants off guard. Since the announcement, Fed ...
Thu, Oct 29 2015, 10:47 AM
It wasn't just new home sales that slipped in September. The National Association of Realtors® (NAR)
reports that pending sales also cooled; dipping...
Thu, Oct 29 2015, 10:43 AM
Let's
start with something non-mortgage related but that may be of interest
to some. Who doesn't go faster than the posted speed limit on a freewa...
Thu, Oct 29 2015, 7:32 AM
MBS Live cornerstone Andy Pada reminded me yesterday that I was pretty sure the Fed was going to hike in September. Indeed, I was relatively passiona...
Thu, Oct 29 2015, 5:30 PM
10yr yields have gone from around 2 percent to 2.17% in 2 days thanks to the Fed's sucker punch. Mind you, this would be a lot worse if some of the m...
Thu, Oct 29 2015, 5:01 PM
Mortgage rates continued heading higher at a fairly quick pace today, extending the move that began after yesterday's Fed Announcement. That migh...
Wed, Oct 28 2015, 11:02 AM
I
head to Ann Arbor today, but 500 miles away is the Gateway Arch in St.
Louis - quite a sight on the Mississippi! The Gateway Arch was designed
...
Wed, Oct 28 2015, 9:18 AM
Mortgage applications during the week ended October 23 decreased 3.5
percent on a seasonally adjusted basis from the previous week the Mortgage
Ba...
Wed, Oct 28 2015, 7:32 AM
Today's 'Day Ahead' title is both a rhetorical and literal question. On a literal level, we'll know soon enough, as 2pm brings the latest official po...
Wed, Oct 28 2015, 5:44 PM
Bond markets began the day like most recent days: flat and uninspired. That wasn't too hard to forgive considering we may well expect some indecision...
Wed, Oct 28 2015, 5:11 PM
Mortgage rates moved quickly lower after today's Fed Announcement. While the Fed was, by no means, expected to hike rates in October, there was a...
Wed, Oct 28 2015, 2:05 PM
(additions underlined, deletions struck-through)
For immediate release Information received since the Federal Open Market Committee met in July...
Wed, Oct 28 2015, 1:24 PM
Bond markets are slightly weaker so far today, but still very much within the recent range ahead of the 2pm Fed Announcement. Unlike many recent exam...
Tue, Oct 27 2015, 10:41 AM
rice
gains since the recent low have increased faster and were less driven by
inflation than prices during the housing boom of the last decade accor...
Tue, Oct 27 2015, 10:34 AM
When
was the last time anyone used the term "elderly"? I think the industry
dropped the term when someone realized baby boomers didn't like thinki...
Tue, Oct 27 2015, 8:30 AM
It's rare for the near-term outlook in financial markets to operate in the realm of super high probability. With so much money at stake and with trad...
Tue, Oct 27 2015, 6:31 PM
If we needed any more evidence that the earlier price action had much to do with the spillover from European bond markets, the afternoon trade made it...
Tue, Oct 27 2015, 5:30 PM
Mortgage rates were sideways to slightly lower today, depending on the lender. Whereas some rate sheets were carbon copies of yesterday's latest ...
Tue, Oct 27 2015, 2:20 PM
There continues to be nothing too much to write home about when it comes to post-NFP October in bond markets. There has been a range of 2.0-2.08 th...
Mon, Oct 26 2015, 12:56 PM
Home
prices have now increased 27 percent since hitting bottom in January 2012. Black Knight Financial Services said today
that prices nationally e...
Mon, Oct 26 2015, 11:01 AM
New home sales
nose-dived in September , dropping by 11.5 percent from the August level. A joint release from the U.S. Census Bureau
and the Depar...
Mon, Oct 26 2015, 10:40 AM
Don't
ask me how we arrived at the last week of October already, but here we
are barreling toward Halloween and changing the clocks Sunday morning...
Mon, Oct 26 2015, 9:12 AM
The week's key event is undoubtedly Wednesday's FOMC Announcement, but should markets be getting worked up over the possibility of a change? Of cours...
Mon, Oct 26 2015, 5:35 PM
Bond markets got nostalgic for summertime Mondays today. Despite it being the beginning of a Fed week and falling hard on the heels of a sharper move...
Mon, Oct 26 2015, 5:03 PM
Mortgage rates moved slightly higher today on average despite strength in underlying bond markets. Normally, when bond markets improve, rates dro...
Mon, Oct 26 2015, 2:24 PM
It has been a remarkably quiet day so far during the domestic session. This seems more like the rule than the exception of late. The only instance o...
Mon, Oct 26 2015, 1:15 PM
Two Pennsylvania metropolitan areas, Scranton and
Harrisburg, won the MiMi seal of approval in August. Freddie Mae said the two moved into what it
...
Fri, Oct 23 2015, 10:52 AM
Several measures of mortgage distress moved up in September
including the early delinquency rate according to Black Knight Financial
Services. The ...
Fri, Oct 23 2015, 10:51 AM
Despite
a steadily decreasing share of distressed sales and fewer investors in the
market all-cash sales have not yet returned to normal levels no...
Fri, Oct 23 2015, 10:44 AM
There are reasons why FHA production has skyrocketed in the last year, and why that product was the talk of the MBA conference. It
seems that fina...
Fri, Oct 23 2015, 7:33 AM
If you follow bond markets closely enough, you may have noticed a certain measure of reluctance on the part of 10yr yields to break below the 2% barri...
Fri, Oct 23 2015, 5:42 PM
If you caught the Mid-Day , you're up to speed on anything interesting that happened today.
If you didn't, the only interesting thing that happen...
Fri, Oct 23 2015, 4:41 PM
Mortgage rates were slightly higher today, but did a good job of holding their ground considering the volatile market conditions. Rates take thei...
Fri, Oct 23 2015, 1:47 PM
Bond markets are in weaker territory today, more than erasing all of yesterday's gains and taking 10yr yields to the highest levels in 2 weeks. The ...
Thu, Oct 22 2015, 12:22 PM
As expected, this morning's European Central Bank (ECB) Announcement has been a source of volatility for markets, but its effects have varied widely...
Thu, Oct 22 2015, 11:02 AM
The sharp downturn in existing home sales in August now seem
little more than a fluke as sales resumed their positive pattern in September. The Na...
Thu, Oct 22 2015, 10:46 AM
If
anyone out there wants to be buy a big office building, Fannie has one:
the company is preparing to move to its new HQ downtown and is selling...
