Wed, Apr 8 2015, 5:23 PM
Considering 10yr auctions and FOMC Minutes typically happen on Wednesdays, it's not uncommon for them to be sharing the stage. In today's case, they ...
Wed, Apr 8 2015, 4:26 PM
Mortgage rates managed a
fairly uneventful day despite the presence of some bigger-ticket
events. Actually, those events turned out to be the ...
Wed, Apr 8 2015, 3:50 PM
If data from Fannie Mae's March National Housing Survey is
any indication, consumers seem to have grown a bit uneasy as many of the positive
respo...
Wed, Apr 8 2015, 3:43 PM
Home prices including
distressed sales increased again in February on both a monthly and an annual
basis CoreLogic said on Tuesday. Its nationwid...
Tue, Apr 7 2015, 12:33 PM
To whatever extent liquidity still exists in the bond market, it returned today after holiday-related absences reduced participation to the lowest lev...
Tue, Apr 7 2015, 10:46 AM
The number of homeowners who could potentially benefit from
refinancing has increased by 3 million in the last year according to Black
Knight Fina...
Tue, Apr 7 2015, 10:31 AM
Several factors combined to improve access to mortgage
credit last month with the greatest gains coming in conforming loans. The Mortgage Bankers As...
Tue, Apr 7 2015, 10:29 AM
Things
have a way of changing - even appearances. (Ray W. sent me news that
recently there was a Kenny Rogers look-alike contest. Kenny Rogers cam...
Tue, Apr 7 2015, 7:34 AM
While it's never good or safe to dismiss market movement as less legitimate due to a lack of volume, it's worth keeping in mind that the movement is m...
Tue, Apr 7 2015, 3:57 PM
The morning and early afternoon hours were mildly disconcerting for bond markets as recent losses extended. Even so, most of the losses were in befor...
Tue, Apr 7 2015, 3:56 PM
Mortgage rates began the day moving slightly higher , further adding to the bounce back from Friday's 2-month lows. This time around, however, th...
Mon, Apr 6 2015, 12:11 PM
The National Association of Realtors®
(NAR) recently hosted a meeting of about a dozen real estate and mortgage
industry experts to examine the curr...
Mon, Apr 6 2015, 12:06 PM
It has been a common theme from industry analysts and home
sales and construction reports for at least five years; the recovery is being
hampered, p...
Mon, Apr 6 2015, 10:19 AM
Late last week someone asked me about HUD's Equal Access Rule .
A month or so ago Bankers Advisory released a notice regarding HUD's
update to eq...
Mon, Apr 6 2015, 7:34 AM
Insanely huge beats or misses in NFP data are always interesting. They seem to have an uncanny ability to completely change the tenor of conversati...
Mon, Apr 6 2015, 4:46 PM
In terms of market movement and new developments, there's nothing to add to the mid-day update . Bond markets were under mild pressure at the outset...
Mon, Apr 6 2015, 3:55 PM
Mortgage rates have now given back the ground gained after Friday's big jobs report. To put that in perspective, rates are now modestly higher t...
Mon, Apr 6 2015, 1:10 PM
The overnight session was predictably uneventful with most of the world still out of the office for the Easter holiday. Plenty of market participants...
Fri, Apr 3 2015, 12:07 PM
Mortgage rates scored a major victory today at the expense of the labor market. Recent examples of the Employment Situation Report (the big "jobs ...
Fri, Apr 3 2015, 12:02 PM
NOTE : This is the mid-day and the 'recap' as bond markets are not only closing early (noon ET), but were effectively closed after the initial NFP rea...
Fri, Apr 3 2015, 10:34 AM
Mortgage profits declined in the fourth
quarter of 2014 compared to the previous quarter but soared when compared to the
fourth quarter of 2013. I...
Fri, Apr 3 2015, 10:18 AM
Another source is affirming that the rapid growth in home
prices that started in 2013 has continued to slow and that the deceleration is
broad base...
Fri, Apr 3 2015, 10:11 AM
Mergers and acquisitions
valued at $811.8 billion have been announced this quarter globally, up
21% compared with Q1 of 2014, according to Thomso...
Fri, Apr 3 2015, 7:34 AM
It's always a struggle to think of something to say on the morning of the jobs report before the jobs report actually comes out. It will be whatever ...
Thu, Apr 2 2015, 12:58 PM
Even as some in the industry apparently hope for a reprieve
from implementing new mortgage disclosure forms the Consumer Financial
Protection Bure...
Thu, Apr 2 2015, 12:54 PM
Yesterday's recap noted an increased risk of weakness today due to the technical bounce at 1.852. Here it is.
No, really, today is pretty much ...
Thu, Apr 2 2015, 9:36 AM
The MBA tells us that independent
mortgage banks and mortgage subsidiaries of chartered banks "average
production volume totaled $417 million per ...
Thu, Apr 2 2015, 7:28 AM
There's another day to go before NFP, but today is no slouch . Not only are trading levels currently evaluating a bounce at a long term inflection p...
Thu, Apr 2 2015, 5:12 PM
Mortgage rates bounce higher today on average. Some lenders remained close to unchanged, but they generally were the same lenders that hadn't impr...
Thu, Apr 2 2015, 4:42 PM
Bond markets sold off today, and when you see the longer term chart below, it's hard to be too upset about it. The chart not only serves to provide ...
Wed, Apr 1 2015, 10:00 AM
Residential
lenders across the land wonder at their good fortune for great
origination volumes in March, with many setting records, and they are t...
Wed, Apr 1 2015, 9:08 AM
The volume of mortgage applications increased for both refinancing and
purchasing during the week ended March 27.
It was the second consecutive wee...
Wed, Apr 1 2015, 7:34 AM
As the new quarter begins, let's pause to consider where we should be looking for bond market motivation. What has been motivating rate movements so ...
Wed, Apr 1 2015, 5:33 PM
Today went off without a hitch for bond markets. A rally in European debt overnight (strong German bond auction) helped Treasuries and MBS start th...
Wed, Apr 1 2015, 4:58 PM
Mortgage rates fell appreciably today , this time at the fastest pace of the current winning streak. In fact, it was the biggest move lower since t...
Wed, Apr 1 2015, 1:02 PM
Granted the day is not over yet, but at this point, a full-scale reversal of the morning's momentum is unlikely. As expected, with month-end out of t...
Wed, Apr 1 2015, 1:02 PM
Overall construction spending in the U.S. was essentially
unchanged from January to February and there was only slight movement in both
public and...
Tue, Mar 31 2015, 12:43 PM
After a relatively uneventful overnight session, bond markets began the day in slightly stronger territory. The shorter end of the yield curve began ...
Tue, Mar 31 2015, 10:57 AM
Amelia
Earhart was quoted as saying, "Never interrupt someone doing something
you said couldn't be done." Few thought that the refi boom could hav...
Tue, Mar 31 2015, 10:47 AM
Home
prices flattened on a month-over-month basis in January even as annual prices
continued to increase S&P Dow Jones Indices said today. The ...
Tue, Mar 31 2015, 7:34 AM
Today is the last day of the month and quarter (or the fiscal year-end for many domestic entities or the entire nation of Japan). That makes the end...
Tue, Mar 31 2015, 5:12 PM
It's rare that I'll decide to include a chart with a shorter maturity yield curve constituent in the Day Ahead. In this morning's case, that happened...
Tue, Mar 31 2015, 4:46 PM
Mortgage rates fell again today
extending a 3 day winning streak after shooting abruptly higher in the
middle of last week. That damage hasn't...
Tue, Mar 31 2015, 3:03 PM
Nationwide said on Tuesday that the overall housing market
is healthier than at any time since 2001 , the earliest point for which data is
availabl...
Mon, Mar 30 2015, 10:59 AM
Contract signings in the Midwest and South in February drove
pending home sales to their highest level in nearly two years. The National Association...
Mon, Mar 30 2015, 9:38 AM
In
like a lion, out like a lamb? Usually folks say that about March's
weather, not the economy. But economic data so far in the first quarter
ha...
Mon, Mar 30 2015, 7:34 AM
As is often the case, this week has the dual distinction of hosting 'month-end' as well as nonfarm payrolls. Until recently, the ECB was almost alw...
Mon, Mar 30 2015, 5:16 PM
For MBS, today was substantially similar to Friday, with a narrow but positive trading range and little fanfare surrounding any headline event. That'...
Mon, Mar 30 2015, 3:59 PM
Mortgage rates fell moderately
to begin the week, but haven't yet returned to recent lows. Even so,
the improvement is a relief considering ra...
Mon, Mar 30 2015, 1:14 PM
The first two days of this week stand a good chance to see the momentum driven not by the events that transpire, but by the trades that must be made b...
