Wed, Jun 17 2015, 5:20 PM
Mortgage rates had a wild ride today. Underlying bond markets were significantly weaker leading up to the afternoon's Fed events. During this t...
Wed, Jun 17 2015, 4:42 PM
Today turned out to be a fun little diversion for US traders. It's as if they were turned loose to play in the sandbox without the oversight of their...
Wed, Jun 17 2015, 1:50 PM
More than a quarter of a million homeowners emerged from
underwater the first quarter of 2015, an increase of $694 billion in positive
equity in hom...
Tue, Jun 16 2015, 12:16 PM
Europe has been in the driver's seat throughout the day as far as domestic bond markets are concerned. While Treasuries were doing fairly well as the...
Tue, Jun 16 2015, 11:41 AM
How 'bout California Governor Jerry Brown stealing money (ok, "inappropriately diverting") from of the Homeowner's Fund?
For upcoming events...
...
Tue, Jun 16 2015, 10:28 AM
This morning's Residential Construction report for May, held
much better news than appeared at first glance even though that first glance was
not ba...
Tue, Jun 16 2015, 7:33 AM
Let's see... What can we talk about other than tomorrow's FOMC events? I sprinkled Fed references into headlines as early as last week because, apar...
Tue, Jun 16 2015, 4:54 PM
Mortgage rates moved only slightly lower today, belying the amount of positive market movement in the mortgage-backed-securities (MBS) that nor...
Tue, Jun 16 2015, 4:54 PM
Nice rally today. 10yr yields hit their lowest levels since June 5th and MBS hit their 'roll-adjusted' highs over the same time frame. Gains were in...
Tue, Jun 16 2015, 3:48 PM
Despite record low homeownership rates consumers
have not soured on the American dream.
The second annual edition of "How American Views Home Owner...
Mon, Jun 15 2015, 12:17 PM
The overnight and early domestic sessions were both strongly positive for bond markets. A more substantive Greek debt impasse kicked off the overni...
Mon, Jun 15 2015, 10:55 AM
Builder's demonstrated the highest confidence in the market
for newly built homes in nearly a year this month as the Housing Market Index
(HMI) publ...
Mon, Jun 15 2015, 10:21 AM
A
recent MBA "Chart of the Week" bears repeating since it reminds us just
how much a borrower pays for a home loan when it closes. (Think about ...
Mon, Jun 15 2015, 10:11 AM
The Federal Housing Administration
(FHA) has revised its policy for so-called reverse mortgages, expanding options
for surviving spouses to remain...
Mon, Jun 15 2015, 7:33 AM
This is one of the biggest weeks of the year. The main reason for that is Wednesday's series of FOMC events. At every other meeting, the Fed adds ...
Mon, Jun 15 2015, 6:24 PM
The Fed doesn't set mortgage rates , but changes in Fed policy are more than capable of sending shockwaves
through the markets that affect mo...
Mon, Jun 15 2015, 6:21 PM
Markets were abuzz --relatively speaking--with overnight news that the latest hopes for a Greek debt deal were dashed over the weekend. This was the...
Fri, Jun 12 2015, 10:45 AM
Every
once in a while someone will ask me about mortgage origination numbers,
like does anyone count the number of loans made? Sure - read through...
Fri, Jun 12 2015, 7:33 AM
Yesterday was great! While we could poke holes in motivation for such a big rally by pointing out that it began from the weakest levels in 8 months...
Fri, Jun 12 2015, 6:10 PM
Mortgage rates looked like they might come down a bit today. The morning hours were generally positive for bond markets, including mortgage-back...
Fri, Jun 12 2015, 5:25 PM
Due to the timing of today's weakness and the necessity of a few alerts on MBS Live , the mid-day commentary was out later than normal. By the time ...
Fri, Jun 12 2015, 4:09 PM
The plight of underwater homeowners is proving to be pesky to
resolve if Zillow's latest numbers on negative equity are correct. The company said to...
Fri, Jun 12 2015, 2:22 PM
Bond markets began the day in weaker territory , following a pull-back in European bond markets overnight. The tenor would soon change as the the ru...
Thu, Jun 11 2015, 12:49 PM
There's a nice rally underway today, with 10yr yields down 6.2bps and Fannie 3.5s up just over 3/8ths of a point. The underlying motivation is an eve...
Thu, Jun 11 2015, 10:43 AM
Applications for the purchase of newly constructed
homes fell in May, a decline which the Mortgage Bankers Association (MBA)
attributed at least in ...
Thu, Jun 11 2015, 10:36 AM
A recent MBA "Chart of the Week" highlights the change in the number of
households by age from 2004 to 2014. Household formation was negative
fo...
Thu, Jun 11 2015, 7:32 AM
Every time we have a big, nasty sell-off --not the garden variety 15-20bps over a few days, but kind that takes 60bps higher in several weeks and sti...
Thu, Jun 11 2015, 5:24 PM
Mortgage rates were at their highest levels since early October as of yesterday afternoon, and in general, have been in the throes of the most aggr...
Thu, Jun 11 2015, 5:24 PM
Given the pace and scope of recent bond market weakness, there are more than a few traders that have open bets on rates moving higher--aka "shorts." ...
Thu, Jun 11 2015, 3:10 PM
Despite over two years of declines cash
sales continue to constitute more than one-third of total home sales. CoreLogic reported today that the shar...
Wed, Jun 10 2015, 10:43 AM
Yes, TRID is impacting lending, and thus borrowers. Wells Fargo's correspondent group announced the end of its "Single Close Construction" program...
Wed, Jun 10 2015, 9:50 AM
Americans got back to work during the week ended June 5 and mortgage
applications rebounded significantly .
Volume made up the ground lost during ...
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...
