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...
Wed, Oct 14 2015, 2:34 PM
Even a slew of corporate bond issuance isn't holding back bond markets from another strong move lower in yield today. In fact, in a break from the ...
Tue, Oct 13 2015, 10:47 AM
Foreclosure
indicators are continuing at levels well above those considered normal by the
housing industry, and that CoreLogic said in its August ...
Tue, Oct 13 2015, 10:45 AM
The Treasury Department has announced that under the Foreign Account Tax Compliance Act it will share information with 34 nations ,
including India...
Tue, Oct 13 2015, 9:15 AM
The surprisingly weak NFP at the beginning of October helped bond markets extend an already strong rally. The strength of the post-NFP rally was a su...
Tue, Oct 13 2015, 5:30 PM
Heading into 3-day weekends, it's not uncommon for investors to move to the sidelines by selling some of their holdings with the intention of getting ...
Tue, Oct 13 2015, 4:33 PM
Mortgage rates moved lower today , erasing only some of the weakness that dominated the previous week. In other words, rates were significantly hi...
Tue, Oct 13 2015, 1:56 PM
The holiday-shortened week is off to a slow but positive start for bond markets. The early overnight trading wholly confirms our "move to the sidel...
Fri, Oct 9 2015, 11:18 AM
Distressed property sales continue to shrink as a percentage of all sales,
but CoreLogic says it may be another four years before those shares reach ...
Fri, Oct 9 2015, 11:14 AM
Fifth Third admitted it improperly certified more than 1,400 mortgage loans it knew were defective as eligible for FHA, costing taxpayers millions....
Fri, Oct 9 2015, 7:33 AM
You would think that after years of working in the same office that market participants would know how to find their way to the door. Yet strangely e...
Fri, Oct 9 2015, 6:32 PM
After trending decisively higher during almost every hour since hitting bottom last Friday, stocks and bond yields leveled off today. Perhaps it's ...
Fri, Oct 9 2015, 5:48 PM
Mortgage rates were generally quiet today as bond markets wound down ahead of the 3-day weekend. While stock markets and many businesses will be ...
Fri, Oct 9 2015, 2:15 PM
I reserve the right for this "MBS MID-DAY" to also be the "MBS RECAP" as I don't expect much to happen in the rest of the trading day. It seems fairl...
Thu, Oct 8 2015, 10:43 AM
In case you missed it, last month Fannie Mae began to
transition the multi-graph and narrative report detailing results of its
National Housing Surv...
Thu, Oct 8 2015, 10:14 AM
Who
says that financial reporters don't have a sense of humor? I caught
this recent headline about a story on Alcoa Aluminum splitting into
mini...
Thu, Oct 8 2015, 7:32 AM
Any deep hypothetical analysis of recent bond market behavior requires a caveat about volume and volatility . Namely, we haven't had any of either o...
Thu, Oct 8 2015, 5:40 PM
The overnight session was extra quiet for bond markets, with no meaningful movements until after 8am. In hindsight, uneventful was good as the recent...
Thu, Oct 8 2015, 5:01 PM
Mortgage rates moved modestly higher today , depending on the lender. Once again, pricing strategies remained widely variable due to market volati...
Thu, Oct 8 2015, 1:57 PM
Saying it was "deeply concerned" about how marketing
services agreements are undermining consumer safeguards against kickbacks, the
Consumer Finan...
Thu, Oct 8 2015, 1:10 PM
Bonds continue following the broader global correction leading back from the stock market weakness at the end of September. This has been a classic ...
Wed, Oct 7 2015, 12:55 PM
Domestic bond markets continue to be more-or-less glued to stocks . Treasuries began flat in the overnight session, but yields soon began rising as ...
Wed, Oct 7 2015, 9:43 AM
How
long has your staff been on their jobs? The Fed has kept short term
rates unchanged for 6 years and 9 months at this point. Does your senior
...
Wed, Oct 7 2015, 9:05 AM
Declining rates, an impending hurricane, the Blood Moon - who knows what
was behind - it but mortgage application volume went a little crazy last we...
Wed, Oct 7 2015, 8:42 AM
Every so often, amid the multitude of relatively vague and more complex technical indicators, bond markets just 'give us the answer.' Granted, the an...
Wed, Oct 7 2015, 5:36 PM
In yet another installment of "the headline is the recap," today's trading session was largely uneventful apart from the moderate weakness carried ove...
Wed, Oct 7 2015, 3:49 PM
Mortgage rates put in another day with minimal movement today. If there was a detectable bias, it was toward slightly higher rates, but many lend...
Wed, Oct 7 2015, 3:25 PM
The housing industry has long expected
that pending home sales in a given month will fairly accurately forecast the actual
sales transactions that f...
Tue, Oct 6 2015, 12:56 PM
Overnight trading was inconsequential for domestic bond markets with both Treasuries and MBS hitting New York hours very close to 'unchanged.' Asian ...
Tue, Oct 6 2015, 10:47 AM
CoreLogic said on Tuesday that its Home Price Index (HPI)
including distressed sales rose on a year-over-basis for the 42 nd
consecutive month in...
Tue, Oct 6 2015, 10:43 AM
A loosening of access to GSE (Freddie Mac and Fannie Mae) loans
in September, contributed to a slight increase in the Mortgage Credit
Availability I...
Tue, Oct 6 2015, 10:22 AM
It
is not an issue of "if", but "when". The ABA said it suffered a
cyberattack of its online shopping cart and at least 6,400 user records
h...
Tue, Oct 6 2015, 7:33 AM
That disturbance you might have felt in the force--that's the high-conviction shift in both stocks and bonds. Whereas both had been defying the conse...
Tue, Oct 6 2015, 4:58 PM
Mortgage rates managed to hold their ground in
most cases today. That's a refreshing turn of events considering the
forceful move higher seen...
Tue, Oct 6 2015, 4:57 PM
Bond markets came into the domestic session roughly unchanged, but soon found themselves under pressure. Before 9am, concerns over the day's corporat...
