Wed, Jun 10 2015, 7:33 AM
It's been a while since we've had a good, old-fashioned MBS chart . There's no particular reason for that. It's just that Treasuries have been and ...
Wed, Jun 10 2015, 5:26 PM
Another day, another chance for bond markets to continue their selling spree. It began in a bad way, no matter when you woke up . Asian markets onl...
Wed, Jun 10 2015, 5:25 PM
Mortgage rates continued pressing into new highs for 2015. Most lenders are now quoting conventional 30yr fixed rates 4.25% on top tier scenarios....
Wed, Jun 10 2015, 2:55 PM
For the third time this month a mortgage company, this one
in the process of dissolution , has been charged with violating the Loan
Originator Comp...
Wed, Jun 10 2015, 1:20 PM
The financial world is abuzz yet again with Greek debt deal headlines. And yet again, they are almost completely meaningless . Before you say to yo...
Tue, Jun 9 2015, 12:56 PM
The pain continues for bond markets, as does the phenomenon of movement being driven by the unseen hand . In other words, there hasn't been any sign...
Tue, Jun 9 2015, 11:37 AM
A survey of 16 big global lenders revealed that the total bill for legal matters has hit $300 billion .
Yesterday
the commentary mentioned...
Tue, Jun 9 2015, 7:34 AM
The most striking features of last month's trading levels were the clearly defined consolidations in rates, both at home and abroad. Not only were th...
Tue, Jun 9 2015, 5:31 PM
On an intraday basis, trading levels in Treasuries and MBS hit their weakest levels of the year today. The biggest moves of the day happened at 8:...
Tue, Jun 9 2015, 3:43 PM
Mortgage rates bounced back up to the highest levels of 2015 today. Yet again, it was a frustrating and seemingly serendipitous move, unable to be...
Tue, Jun 9 2015, 1:28 PM
It continues to be clear that the
foreclosure crisis is winding down while ongoing elevated levels of mortgage
distress mean it could be a long time...
Mon, Jun 8 2015, 12:43 PM
Bond markets were mixed overnight with European yields rising slightly and US yields falling slightly. This could be chalked up, rather simply, to th...
Mon, Jun 8 2015, 12:31 PM
While the trend will likely continue to reverse in the next few reports, refinancing, as a share of total originations, made an impressive recovery ...
Mon, Jun 8 2015, 10:25 AM
According
to the U.S. Census Bureau, 21.3 percent of the American population
(52.2 million people) participated in government assistance programs ...
Mon, Jun 8 2015, 7:34 AM
The European-led move lower in yields that began in early 2014 was like nothing we've seen in more than a decade. In terms of the market momentum it...
Mon, Jun 8 2015, 4:59 PM
The recent improved employment statistics which included an
acceleration in average hourly earnings and a reported increase in personal
income (a Ma...
Mon, Jun 8 2015, 4:54 PM
Thanks for reading, this has been my attempt to write a headline that made absolutely no one want to click and read the story. But facts are facts, a...
Mon, Jun 8 2015, 3:46 PM
Mortgage rates were just slightly lower today, but only erased a small portion of Friday's move to 2015 highs. Friday notwithstanding, today's rat...
Mon, Jun 8 2015, 2:08 PM
The percentage of total home sales coming from distressed
inventories continues to drop. CoreLogic
said on Monday that short sales and sales of own...
Fri, Jun 5 2015, 10:28 AM
Huh? National Donut Day? Most donut shops have a few employees, but in 2013 our Census Bureau tells us there were 23 million businesses without paid ...
Fri, Jun 5 2015, 7:42 PM
For the second time this week the
Consumer Financial Protection Bureau (CFPB) has filed in federal court against
a lender for unfair compensation p...
Fri, Jun 5 2015, 7:35 PM
If we went back to the beginning of June and asked ourselves "where do we think 10yr yields would be on Friday if Draghi doesn't commit to maintaining...
Fri, Jun 5 2015, 7:25 AM
NFP day is great. Nothing causes more widespread speculation on how a certain piece of economic data will report and how markets might react. Someti...
Fri, Jun 5 2015, 5:12 PM
Mortgage rates are officially having a bad June. It's not quite as bad as February, but February began with rates very close to all-time lows, and...
Fri, Jun 5 2015, 3:26 PM
Are those sought-after first-time homebuyers finally re-emerging? RealtyTrac said on Thursday that they may be
the reason that the average percent...
Fri, Jun 5 2015, 1:43 PM
Bond markets tanked after NFP this morning. This sort of thing is to be expected when payrolls print 280k vs a 225k forecast (and a 201k ADP print ...
Thu, Jun 4 2015, 10:58 AM
The availability of
mortgage credit continued to rise in May the Mortgage Bankers Association (MBA)
said today. Its Mortgage Credit Availability
I...
Thu, Jun 4 2015, 10:54 AM
"I
swear, if my memory was any worse I could plan my own surprise party."
Remember when you were a student? Research from the Fed finds total
st...
Thu, Jun 4 2015, 7:34 AM
Yesterday was a bad day. If you need to revisit it, or if you happened to knock yourself unconscious the first time or two you fell out of your chai...
Thu, Jun 4 2015, 5:25 PM
Most of today's trading activity was a function of previous trading--at least as far as the domestic session was concerned. If we count the overnight...
Thu, Jun 4 2015, 5:08 PM
Older Americans are being warned that ads
touting reverse mortgages "that seem too good to be true" might be just that. Rather slyly using a tag lin...
Thu, Jun 4 2015, 4:09 PM
Mortgage rates bounced back ever-so-slightly today, ultimately doing very little to erase the damage done so far this week. The most prevalently-q...
Thu, Jun 4 2015, 2:37 PM
Enforcement of compliance with the new RESPA/TILA disclosure
forms has been postponed . As appeared
inevitable after almost unanimous testimony ...
Thu, Jun 4 2015, 2:05 PM
Mortgage profits soared in the first quarter of 2015 the
Mortgage Bankers Association (MBA) said this week, nearly doubling the per loan net
pro...
Thu, Jun 4 2015, 1:03 PM
At the end of this morning's commentary, I discussed the possibility that the past few days have been an over-correction to May's month-end strength, ...
Wed, Jun 3 2015, 11:01 AM
There
is plenty of dialog and discussion in the lending industry. Certainly some of the conversation
involves the fact that, for the popular pres...
Wed, Jun 3 2015, 10:02 AM
The week ended May 29 was another of those holiday shortened weeks when the most relevant comment that can be made about mortgage application numbers ...
Wed, Jun 3 2015, 7:07 AM
By the time you read this, things may already have gotten serious. The ECB announcement is at 7:45am Eastern, and although global markets are highly ...
Wed, Jun 3 2015, 6:18 PM
Mortgage rates had an awful day today , and they were among the lucky ones. The true pain emanated from Europe, as has been the case so many times ...
Wed, Jun 3 2015, 5:37 PM
If you missed it, or are otherwise looking for a recap on why bond markets got crushed today, here it is . Nothing materially changed from that up...
Wed, Jun 3 2015, 2:54 PM
I am here in Denver and had the opportunity this morning to hear MBA
President Dave Stevens, under the direction of CFPB Director Richard
Cordray,...
Wed, Jun 3 2015, 1:00 PM
This morning's commentary said " things get serious ," and that we could well expect to depart the recent range in a big way . Now, we are. 10yr yie...
Tue, Jun 2 2015, 10:45 AM
Some
in the industry are focused on Wells Fargo CEO John Stumpf's recent
comments saying that cybersecurity and an evolving payments industry are
...
Tue, Jun 2 2015, 7:34 AM
On some occasions, we look ahead to big-ticket events like central bank announcements and NFP reports with more anticipation and anxiety than they des...
Tue, Jun 2 2015, 5:25 PM
Mortgage rates jumped significantly higher today, bringing most lenders to their highest levels of 2015. The most prevalently-quoted conventional ...
Tue, Jun 2 2015, 5:20 PM
Bond markets were in bad shape right from the outset today. By the end of it, 10yr yields had fully traversed THE range laid out in this morning's ...
Tue, Jun 2 2015, 4:51 PM
For some time
conventional wisdom has held that home price increases are slowin g and would
continue to do so, but the CoreLogic Home Price Index (...
Tue, Jun 2 2015, 4:40 PM
Provident Funding Associates has been charged by two federal
agencies with charging higher broker fees to minority borrowers . The Consumer
Financ...
Tue, Jun 2 2015, 1:50 PM
In terms of the event calendar, today was supposed to be quiet. One of the wild cards laid out in this morning's commentary was an unexpected head...
Mon, Jun 1 2015, 10:58 AM
Total spending on construction ticked up moderately in
April, rising to a seasonally adjusted annual rate of $1,006.1 billion the U.S.
Census Bureau...
