Tue, Aug 18 2015, 12:25 PM
Much like yesterday, today's economic data was far enough from consensus to move markets. Unlike yesterday, the movement was in an unfriendly direc...
Tue, Aug 18 2015, 10:53 AM
The level of cash sales remains high in
several states, mostly those also still experiencing a high level of
foreclosures . CoreLogic said on Tues...
Tue, Aug 18 2015, 10:48 AM
Permits for residential construction fell sharply in July,
down 16.3 percent from June while remaining 7.5 percent above the level of one year
earl...
Tue, Aug 18 2015, 10:34 AM
Under
the "fun with numbers" category, several readers wrote in yesterday
regarding the CFPB's semi-annual numbers: "The report noted that during ...
Tue, Aug 18 2015, 7:33 AM
It's a very interesting time for interest rates in the US. Once again, what had been broad consensus on the long-term direction of rates is turning o...
Tue, Aug 18 2015, 5:34 PM
Mortgage rates moved back up today, but continue holding well-inside last week's range. "Movement" is a relative term these days considering it's...
Tue, Aug 18 2015, 5:34 PM
The fun thing about FOMC Minutes releases is that we can never be sure if they're going to cause drama for rates until we see how markets react. Whet...
Mon, Aug 17 2015, 11:57 AM
Builder confidence remained stable this month. The National Association of Home Builders
(NAHB)/Wells Fargo Housing Market Index (HMI) added a point...
Mon, Aug 17 2015, 9:58 AM
Thank you to Mark Baker with Cardinal Financial sent over a story about dear people who live in fancy tiny houses . An appraiser's nightmare or a Mil...
Mon, Aug 17 2015, 7:33 AM
"The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement ...
Mon, Aug 17 2015, 5:58 PM
Mortgage rates improved just slightly today, but for most lenders, it was enough to erase the weakness seen last Friday. Behind the move was much...
Mon, Aug 17 2015, 5:58 PM
When we talk about "summertime volatility," we're NOT talking about the sorts of big day-to-day swings seen earlier this year. Instead, summertime ...
Mon, Aug 17 2015, 5:24 PM
While the Millennial generation is generating a lot of
attention, concern, and ink a Freddie Mac executive says it would be wise to
remember that th...
Mon, Aug 17 2015, 1:01 PM
Overnight and early morning trading was as calm as summertime Mondays tend to be. The day's first data--Empire State Manufacturing--doesn't typically...
Fri, Aug 14 2015, 12:52 PM
The affordability of homeownership dipped modestly in the
second quarter according to the National Association of Home Builders/Wells
Fargo Housing ...
Fri, Aug 14 2015, 12:21 PM
It's been an uncharacteristically volatile morning for bond markets considering the economic calendar and the day of the week. We've had PPI, Indus...
Fri, Aug 14 2015, 10:19 AM
The
fact that outstanding auto loans have passed the $1 trillion mark is
garnering headlines, as well as Ohio's vote on legalizing marijuana and...
Fri, Aug 14 2015, 7:32 AM
Surprisingly enough, this week's big, volatility-inducing event leaves US bond markets mostly where they were before the big volatility-inducing event...
Fri, Aug 14 2015, 4:42 PM
MBS prices are cutting a beautiful (or ugly, in terms of the implication) "Z" on the chart today. Prices were higher to start the morning and moved...
Fri, Aug 14 2015, 2:32 PM
Mortgage rates were just slightly higher on average for a third straight day. Much of this week was spent focusing on the effects of China's deci...
Thu, Aug 13 2015, 11:30 AM
So far, the trading day has gone as you would expect it to go if you agreed with the premise in the morning commentary . Namely, without Chinese c...
Thu, Aug 13 2015, 10:04 AM
Applications for the purchase of newly constructed homes fell
off slightly in July, a decline that the Mortgage Bankers Association (MBA)
said was i...
Thu, Aug 13 2015, 10:01 AM
"Texas alone accounts for 15% of all new single family homes built in the United States." I find this factoid interesting on a number of levels, an...
Thu, Aug 13 2015, 7:33 AM
Chinese currency devaluation had quickly grabbed almost every available top news headline by yesterday evening. Yet while the rest of the world was...
Thu, Aug 13 2015, 6:51 PM
The Mortgage Bankers Associations National Delinquency
Survey provides another measure of the declining rate of distress in
residential mortgages. ...
Thu, Aug 13 2015, 6:47 PM
The headline is the recap. There's not much more to it than that. Ever since China stepped in to stem the tide of currency weakness yesterday aftern...
Thu, Aug 13 2015, 5:07 PM
Mortgage rates continued higher today as the recent volatility in global markets subsided. Treasury yields and mortgage rates both benefited from...
Wed, Aug 12 2015, 11:37 AM
”Rob,
I've heard that the fines that a company pays to the CFPB are tax
deductible. So therefore the money is just transferred from one
governme...
Wed, Aug 12 2015, 9:06 AM
There
was virtually no change in the overall volume of mortgage applications during
the week ended August 7 compared to the previous week, mirrori...
Wed, Aug 12 2015, 7:33 AM
Most of this morning's day ahead was written in a speculative manner on July 24th HERE . On that day, I closed with:
Despite all the Fed rhetoric...
Wed, Aug 12 2015, 7:15 PM
Let's keep it simple tonight, because it really is pretty simple. It's all about China still--perhaps with an assist from a weak 10yr auction.
Chi...
Wed, Aug 12 2015, 5:44 PM
Mortgage rates were lower at first today, but most lenders sent out negative reprices in the afternoon, bringing rates back to unchanged levels. ...
Wed, Aug 12 2015, 1:19 PM
Global markets' courtship phase with China's currency devaluation continued benefiting Treasuries overnight. While there was a slow, steady move back...
Tue, Aug 11 2015, 12:59 PM
Treasury yields are at their lowest--and MBS at their highest--levels since early June. For 10yr Treasuries specifically, it wouldn't take more than ...
Tue, Aug 11 2015, 11:25 AM
Is it really easier to get a mortgage these days? Well... After mortgage backers Fannie Mae and Freddie Mac clarified their credit qualifica...
Tue, Aug 11 2015, 7:33 AM
There are no significant economic reports on the calendar today, and the afternoon's 3yr Treasury auction is the lease relevant of the week. Against ...
Tue, Aug 11 2015, 6:14 PM
Mortgage rates dropped quickly today, bringing many lenders back to quoting conventional 30yr fixed rates of 3.875% for top tier scenarios. The m...
Tue, Aug 11 2015, 5:57 PM
The Asian, European, and North American trading sessions were all dominated by news that China would devalue its currency. There's much more to tha...
Tue, Aug 11 2015, 3:44 PM
Completed
foreclosures in June were down 63.3 percent from the peak reached in September 2010. That month, just before the robo-signing
scandal f...
Tue, Aug 11 2015, 3:40 PM
There was an uptick in national existing home sales in the
second quarter of 2015 of 6.6 percent the National Association of Realtors® (NAR) said on ...
Tue, Aug 11 2015, 3:37 PM
Credit unions are gaining a greater
share of the market for both home mortgages and auto loans according to a new
study just released by TransUnio...
Mon, Aug 10 2015, 10:26 AM
I
am currently in the Pacific Daylight Time zone for the Mortgage
Collaborative conference near San Diego. Do time zones ever make the
headlines...
Mon, Aug 10 2015, 8:21 AM
There's no question that things have been going well for bond markets recently--at least for the parts of the bond markets that we care about. The lo...
Mon, Aug 10 2015, 5:39 PM
Mortgage rates moved slightly higher today, erasing the modest improvements seen on Friday. There wasn't much movement in the secondary mortgage ...
Mon, Aug 10 2015, 5:37 PM
Today's first significant source of inspiration for bond markets came in the form of comments from Fed Vice Chair Fischer. While he stuck to the same...
Mon, Aug 10 2015, 4:33 PM
The drought and raging wildfires appear not to be dampening the enthusiasm of people who wish to live in
California. CoreLogic reports that the
s...
Mon, Aug 10 2015, 1:08 PM
Today has been all about yield curve steepening . That means that longer-lasting bonds have been doing worse than shorter term bonds. For instance,...
Fri, Aug 7 2015, 11:32 AM
Yesterday
I attended the California Association of Mortgage Professionals
conference in Southern California, and was talking to a buddy who works ...
Fri, Aug 7 2015, 8:06 PM
Negativity was pervasive in the results of Fannie Mae's July
National Housing Survey (NHS).
Respondents indicated falling expectations about the ec...
Fri, Aug 7 2015, 7:33 AM
NFP day is fun. It's one of those days where things can change so much and so quickly in its immediate wake, that it really doesn't make much sense ...
