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...
Thu, Oct 22 2015, 10:39 AM
Prices of homes purchased in August using Fannie Mae or
Freddie Mac mortgage financing increased by 0.3 percent compared to July the
Federal Housi...
Thu, Oct 22 2015, 7:33 AM
Over the past two days, we saw a surprisingly strong move higher in European bond yields that spilled over to US bond markets. The effects were mute...
Thu, Oct 22 2015, 5:07 PM
Stocks and bonds continued on their divergent paths today thanks to the European Central Bank. While there had been some speculation that the ECB w...
Thu, Oct 22 2015, 4:11 PM
Mortgage rates continued lower today, largely getting caught up with yesterday's underlying market movements. Lenders were likely being cautious ...
Thu, Oct 22 2015, 2:31 PM
In the midst of what has been a rather interesting several
weeks for housing finance reform Donald H. Layton published a column in Freddie
Mac's Ex...
Wed, Oct 21 2015, 10:49 AM
As
the San Diego MBA conference wraps up, one is reminded that many
lenders are having fine years and some can't believe their good fortune.
Oth...
Wed, Oct 21 2015, 8:51 AM
The Mortgage Bankers Association (MBA) said that increases in
applications for both FHA and VA mortgages were behind a jump in its Market
Composit...
Wed, Oct 21 2015, 8:48 AM
As you've likely picked up on, this week has served primarily as a chance for markets to do whatever they need to do ahead of next week's FOMC announc...
Wed, Oct 21 2015, 4:30 PM
Nothing has changed from the mid-day update, so today's recap will largely be an amplification of those themes.
Bond markets were stronger overni...
Wed, Oct 21 2015, 4:02 PM
Mortgage rates bounced back
to some extent today, after yesterday's bigger move higher. The bond
markets that underlie mortgage rates actuall...
Wed, Oct 21 2015, 3:30 PM
It was only a small change, but a 1 percent decline in the
average FICO scores for loans originated in September took that metric to its
lowest leve...
Wed, Oct 21 2015, 1:39 PM
Yesterday marked the first legitimate swoon in US bond markets in more than a week. The 3 days prior were especially flat, with 10yr yields ending th...
Tue, Oct 20 2015, 12:56 PM
Bond markets lost ground overnight, moving resolutely higher in yield during the European session. The Treasury weakness is notable in that it occu...
Tue, Oct 20 2015, 11:49 AM
In what seemed to us to be a very long speech for him, Richard Cordray,
Director of the Consumer Financial Protection Bureau spoke of three major
ch...
Tue, Oct 20 2015, 10:35 AM
Richard
Cordray spoke here in San Diego yesterday. You weren't in the audience?
Well, the CFPB publishes every word uttered by CFPB's management, ...
Tue, Oct 20 2015, 10:24 AM
Multi-family home construction drove the numbers for most of
the September report on residential construction issued today by the U.S.
Census Bureau...
Tue, Oct 20 2015, 7:33 AM
This probably won't be the last time I mention it before next Wednesday, but next Wednesday is the FOMC Announcement. That's the one where Yellen sai...
Tue, Oct 20 2015, 5:36 PM
"Move along... Nothing to see here..." Despite the 4.6 bp increase in 10yr yields and the quarter point drop in MBS Prices, today was actually rathe...
Tue, Oct 20 2015, 5:26 PM
There
was good news and bad news from the Mortgage Bankers Association (MBA) as it
made 2016 economic predictions to its members gathered in San D...
Tue, Oct 20 2015, 5:25 PM
Fannie Mae has announced three enhancements of data used
through its Desktop Underwriter (DU) system which it says will bring more certainty and sim...
Tue, Oct 20 2015, 4:35 PM
Mortgage rates were moderately higher today, ending a 4 day streak near the lowest levels in more than 5 months. To be fair, the streak isn't tec...
Mon, Oct 19 2015, 10:49 AM
In a recent post on its blog CoreLogic points out it is the
rare appraiser who comes up with a perfect comp - i.e. a house of the same size
and co...
Mon, Oct 19 2015, 10:44 AM
It is official, the slump in builder
confidence is over. The National
Association of Home Builders (NAHB) said today that ten years after it began
...
Mon, Oct 19 2015, 10:39 AM
From my narrow view, the big talk of the San Diego MBA conference so far? Fannie & Freddie's rep & warrant changes, the FHA's position on the CFP...
Mon, Oct 19 2015, 7:33 AM
I remember when I used to think that certain super smart, well-connected, high-powered traders actually knew where rates would be heading with better ...
Mon, Oct 19 2015, 5:00 PM
Time for another installment of "the headline is the recap." Bond markets sold-off a bit at noon and came back to end just barely inside positive ter...
Mon, Oct 19 2015, 4:27 PM
It wouldn't have taken much for mortgage rates to outdo themselves in terms of volatility when compared to the past few business days. Last Thu...
Mon, Oct 19 2015, 3:47 PM
The
three Republican and one Democrat candidates who unexpectedly lead in the polls
are, David Stevens President of the Mortgage Bankers Association...
Mon, Oct 19 2015, 2:15 PM
Bond markets were weaker during the overnight session--at least at first. The easiest scapegoat for that weakness was the less-than-awful GDP print ...
Fri, Oct 16 2015, 10:23 AM
The Consumer Financial Protection Bureau (CFPB) has issued its final
rule outlining information lenders must report under the Home Mortgage
Disclos...
Fri, Oct 16 2015, 10:12 AM
I
am driving to the San Diego conference and bunked down in Santa Barbara
for the night. It is a friendly place, but news reached me reminding me
...
Fri, Oct 16 2015, 7:51 AM
The October Fed meeting is still more than a week away, but it already looks like bond markets are preparing for it. Preparation for big events often...
Fri, Oct 16 2015, 7:20 PM
Stocks put in another day of gains today. This is important for 2 reasons. First, they--and by "they," I mean the S&P and S&P futures, which is the ...
Fri, Oct 16 2015, 5:13 PM
Mortgage rates had a tremendously uneventful day, holding roughly the same levels as those seen yesterday and the day before. In this case, a lac...
Fri, Oct 16 2015, 2:27 PM
Friday's trading has been slightly less exciting and has cut a much narrower range than Thursday's trading. Markets might as well not even be open ....
Thu, Oct 15 2015, 10:42 AM
RealtyTrac
released both its September and third quarter data on foreclosure activity on
Thursday. A total of 109,130
U.S. properties had foreclosu...
Thu, Oct 15 2015, 10:37 AM
If
I was a giving a presentation to a bunch of real estate agents I'd want
them to know that I know all about the local job market. The Census
B...
Thu, Oct 15 2015, 7:54 PM
MBS and Treasury yields moved into weaker territory after the 8:30am release of CPI and Jobless Claims this morning. One can only surmise that invest...
Thu, Oct 15 2015, 7:33 AM
Nothing like a good tragedy for lighthearted mid-week viewing as far as bond markets are concerned. Various global economies' data is growing ever we...
Thu, Oct 15 2015, 4:48 PM
Mortgage rates managed to hold their ground for the most part today. This is good to see, considering that the broader bond market had a tougher ...
Thu, Oct 15 2015, 1:34 PM
The overnight session began with markets showing their collective hand as stock prices and bond yields moved higher together. It's as if the memo wen...
Wed, Oct 14 2015, 10:42 AM
Where
are the residential refis coming from? I hear that there is the usual
mix of rate & term (as ARM loans adjust, or borrowers actually look
...
Wed, Oct 14 2015, 9:12 AM
Mortgage applications thus far in October's have scored a net gain of...
just about nothing, falling almost perfect victim to Newton's Third Law last...
Wed, Oct 14 2015, 8:46 AM
Bond markets love negative economic data--especially when the Fed is ostensibly waiting for domestic economic data to merely hold steady in order to j...
Wed, Oct 14 2015, 7:13 PM
One year ago today, things "got real" for bond markets as they leaped into significantly stronger territory, ultimately ending the day at the best clo...
Wed, Oct 14 2015, 5:13 PM
Mortgage rates dropped quickly today, getting them much of the way back to lows seen at the beginning of the month. For context, there has only b...
