Thu, Jan 22 2015, 4:48 PM
Optimism about the housing market has been a "misplaced
notion" for the last seven years according to Wells Fargo Senior Economist Mark
Vitner, Bu...
Thu, Jan 22 2015, 4:42 PM
Wells Fargo and JPMorgan Chase along with a former Wells
Fargo employee and his wife are the subjects of consent orders filed by the
Maryland Attor...
Thu, Jan 22 2015, 3:34 PM
Mortgage rates didn't budge today. That's impressive considering the amount of volatility in financial markets leading up to and following the E...
Thu, Jan 22 2015, 1:24 PM
By the time this morning's ECB QE announcement hit, there was little doubt about it's existence. Bond markets spent the overnight session continuin...
Wed, Jan 21 2015, 10:40 AM
December's numbers for residential construction were mixed
when compared to November, but all were better than the monthly figures the previous
Dece...
Wed, Jan 21 2015, 10:34 AM
A new JPMorgan Chase report indicates that summer jobs for young adults have significantly declined .
Less than half of young people (46%) who appl...
Wed, Jan 21 2015, 9:18 AM
Applications for mortgage refinancing scored a second straight week of
solid growth during the period ended January 16, with the Mortgage Bankers
As...
Wed, Jan 21 2015, 7:32 AM
This question has come up a lot recently, so let's discuss it. What follows will be my take on it, and I have no idea if it will be the right take. ...
Wed, Jan 21 2015, 5:28 PM
Mortgage rates moved moderately higher on average today. Recently high volatility in financial markets continues driving stratified pricing stra...
Wed, Jan 21 2015, 5:23 PM
This may be the first time in the history of the MBS Commentary that Canada has made an appearance as a relevant market mover--let alone a headline ...
Wed, Jan 21 2015, 1:33 PM
Unexpected headlines have given markets plenty to digest this morning. German bond markets began pushing yields higher right from the start of the ...
Tue, Jan 20 2015, 12:02 PM
For bond markets, today has largely been about holding ground and retrenching. The most relevant example came during the overnight session--just befo...
Tue, Jan 20 2015, 11:31 AM
The National Association of Home Builders' (NAHB') monthly
assessment of builder confidence in the new home market showed a slight
weakening in Ja...
Tue, Jan 20 2015, 10:29 AM
Whether
you're upper class, middle class, lower class, or drinking class, do
you really think the distribution of wealth is somewhat widespread?
...
Tue, Jan 20 2015, 7:32 AM
After trading in a narrow channel for the first three quarters of 2014, bond markets became increasingly volatile. The first three weeks of 2015 have...
Tue, Jan 20 2015, 4:30 PM
Mortgage rates were truly mixed today, with some lenders improving while others moved higher. More than a few were unchanged or close to it. Al...
Tue, Jan 20 2015, 4:28 PM
Anxiety and anticipation are in full supply as markets approach Thursday's exceptionally important ECB news. Last Friday, this anxiety took the form ...
Tue, Jan 20 2015, 3:29 PM
The Supreme Court will hear oral arguments on Wednesday that may drastically
change the way in which the 1968 Fair Housing Act has been interpreted. ...
Fri, Jan 16 2015, 10:59 AM
Poor
Baby Boomers. The industry is so fixated on waiting for the "trophy
generation" Millennials to figure out what they want for housing (see
u...
Fri, Jan 16 2015, 7:40 AM
This chart was scaled based on everything that came before yesterday in order to see how big yesterday was by comparison. The red line is the Swiss F...
Fri, Jan 16 2015, 5:18 PM
Mortgage rates pulled back to slightly higher levels today as broader markets underwent a correction from relatively frenzied movement over the p...
Fri, Jan 16 2015, 5:06 PM
Bond markets sold off today because they rallied so hard earlier this week. That is all*.
I mean, we could sit here and attempt to assign signific...
Fri, Jan 16 2015, 1:06 PM
Global financial markets have been engaged to the idea of sovereign QE from the European Central Bank for nearly a year. After yesterday's Swiss surp...
Thu, Jan 15 2015, 12:39 PM
The following is an excerpt from of an update that appeared this morning on MBS Live. Members will have already seen it.
All About the Franc, 'B...
Thu, Jan 15 2015, 10:42 AM
Applications for mortgages to purchase newly constructed
homes dipped slightly in December, down 0.4 percent from the volume reported in
November....
Thu, Jan 15 2015, 10:41 AM
Cash sales dropped
on a year-over-year basis for the 22 nd consecutive month in October and
CoreLogic is projecting they will return to their pre-c...
Thu, Jan 15 2015, 10:36 AM
Have
some spare doubloons sitting in your bank account, and want to put them
to work? You could buy a Japanese 10-yr note and earn about .25% per ...
Thu, Jan 15 2015, 7:33 AM
Yesterday was the most exciting day in bond markets in a long time. 10yr yields made it into the 1.7's, which had an altogether different feel than...
Thu, Jan 15 2015, 5:20 PM
Mortgage rates continued relentlessly lower today, but they did so under protest. In fact, the amount of improvement on some lenders' rate sheet...
Thu, Jan 15 2015, 5:20 PM
When global financial markets are convulsing with uncertainty and anticipation, where can you find a safe, liquid place to park your money?
One ...
Wed, Jan 14 2015, 12:47 PM
It's a very simple, very awesome day so far for bond markets. The European Court of Justice news was great for peripheral nations (Italy, Spain, Po...
Wed, Jan 14 2015, 10:46 AM
Foreclosures, while now down 64 percent from the peak reached
in September 2010, are still nearly double the monthly average before the
housing cris...
Wed, Jan 14 2015, 10:23 AM
After
being in Colorado earlier this week and preparing for a trip to Florida
Friday, I must admit that to save time most of today's commentary ha...
Wed, Jan 14 2015, 9:39 AM
The first week of the New Year was a good one - no make that a great one
- for mortgage activity with virtually unprecedented increases in mortgage
...
Wed, Jan 14 2015, 7:33 AM
By the time you read this, markets will already have had a chance to begin digesting the important preliminary assessment from the European Court of...
Wed, Jan 14 2015, 5:05 PM
10yr yields spent some time in the 1.7's today and Fannie 3.0s traded over 103. Those are two things that seemed outside the realm of possibility t...
Wed, Jan 14 2015, 4:06 PM
If you have a truly ideal credit profile and loan scenario, a few of the more aggressive lenders are quoting conforming, 30yr fixed mortgage rates ...
Tue, Jan 13 2015, 12:58 PM
According to a study conducted by the CFPB, nearly half of all consumers do not shop around before purchasing a
mortgage. "This means," Richard Co...
Tue, Jan 13 2015, 12:22 PM
In its "first look" at November
mortgage data last week Black Knight Financial Services noted a significant surge
in mortgage delinquencies compar...
Tue, Jan 13 2015, 12:11 PM
With the 10yr auction coming up in about an hour, yields find themselves slightly higher than yesterday's latest levels. Their first move overnight w...
Tue, Jan 13 2015, 10:47 AM
"I
didn't make it to the gym again today. That makes five years in a row."
Speaking of streaks, ""Even if you played 60 million hands of poker for...
Tue, Jan 13 2015, 7:31 AM
Yesterday morning, we discussed the technical outlook for bond markets in the context of "open options." In other words, the technical studies were...
Tue, Jan 13 2015, 5:03 PM
MBS and Treasuries both spent time trading on either side of unchanged today. The swings between the days highs and lows were bigger than normal , a...
Tue, Jan 13 2015, 4:21 PM
Mortgage rates fell only modestly
today, but it was enough for the best rate sheets since mid-May 2013.
That's a new 20 month low, on averag...
Tue, Jan 13 2015, 3:19 PM
Last week,
President Obama and HUD announced a reduction in the mortgage insurance premium
(MIP) fees charged on FHA loans. Most FHA borrowe...
Mon, Jan 12 2015, 12:26 PM
Stocks, oil, Euros, and other assets that bespeak growth and risk are weaker today while bond markets are stronger. The opposite was initially the ...
Mon, Jan 12 2015, 11:02 AM
The Federal Housing Administration (FHA) has
issued a critical update related to last week's announcement of FHA
premium changes. The update contai...
Mon, Jan 12 2015, 10:28 AM
Not
everyone is wild about the FHFA (which oversees Freddie & Fannie)
joining the Federal Home Loan Bank System. Last week the MBA submitted
its...
Mon, Jan 12 2015, 7:35 AM
In terms of the technical trends as of last week, domestic bond markets became more balanced by the end of the week. Before that, they were certainly...
Mon, Jan 12 2015, 5:14 PM
Treasuries were initially a bit weaker in the overnight session, but along with German Bunds, found their footing around 7am. MBS and Treasuries cros...
