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...
Mon, Jan 12 2015, 4:06 PM
Mortgage rates fell modestly again today, bringing them as close to last Tuesday's 19-month lows as they've been, on average. Some lenders are a...
Fri, Jan 9 2015, 12:21 PM
Details and clarifications are now available
for lenders and borrowers regarding President Obama's Thursday announcement of
reduced FHA mortgage ins...
Fri, Jan 9 2015, 10:34 AM
I
guess it is a "new" economy? Coca-Cola has announced plans to lay off
about 1,800 employees globally, in an effort to cut costs by roughly US
...
Fri, Jan 9 2015, 7:44 AM
Markets don't always read from a script. Beyond that, there just aren't many past examples of moves like the one at the beginning of 2015, but so far...
Fri, Jan 9 2015, 5:16 PM
European stocks tanked today. The move was underway within minutes of the morning's payrolls data which initially looked like it might give domestic ...
Fri, Jan 9 2015, 3:53 PM
Mortgage rates moved lower after this morning's Employment Situation Report, though not necessarily because of it. After 2 days spent correcting...
Fri, Jan 9 2015, 3:03 PM
Owners of some 90 percent of mortgage properties in the U.S.
now have some degree of equity in their homes.
CoreLogic said today that 273,000 prop...
Fri, Jan 9 2015, 2:49 PM
It was notable in the years after the
housing collapse that the composition of investors in single family real estate
changed drastically. Long t...
Fri, Jan 9 2015, 2:39 PM
Even though consumers are becoming increasingly optimistic about
the economy and comfortable that it is heading in the right direction, results
of t...
Fri, Jan 9 2015, 1:26 PM
It's been a surprisingly busy morning for financial markets, and very little of that has to do with NFP. Bonds were slightly stronger overnight and...
Thu, Jan 8 2015, 10:39 AM
Stuart Quinn, a policy research and strategy analyst for CoreLogic
summarizes 2014 as a period of consumption for housing market participants when
i...
Thu, Jan 8 2015, 10:27 AM
Accessibility to mortgage credit rose in December. The Mortgage Bankers Association said today
that its Mortgage Credit Availability Index (MCAI) we...
Thu, Jan 8 2015, 10:22 AM
Congrats
to Allan Landon, the former CEO of Bank of Hawaii Corp. President
Barack Obama plans to nominate him to be a Federal Reserve governor
a...
Thu, Jan 8 2015, 7:41 AM
At this point, it's getting more and more tempting to just give up the typical pre-NFP hullabaloo. I mean really, how many more "all eyes on NFP" hea...
Thu, Jan 8 2015, 4:13 PM
Mortgage rates continued drifting slightly higher after a strong move to 19 month lows on Tuesday. The caveat is that today's rates are only hig...
Thu, Jan 8 2015, 4:12 PM
Dear HUD,
First of all, thanks for dropping annual MI. That's cool and all, but the way you're rolling this out is causing confusion. The Mortgag...
Thu, Jan 8 2015, 1:14 PM
Once again, bond markets find themselves in weaker territory simply due to the corrective forces that follow strong rallies, and once again, resilient...
Wed, Jan 7 2015, 12:28 PM
Domestic economic data, as expected, was passed over in favor of more meaningful forces. At the moment, those forces include Eurozone economic condit...
Wed, Jan 7 2015, 10:06 AM
In mid-November the Federal Housing Administration (FHA)
announced that its Mutual Mortgage Insurance Fund (MMI) had returned to
solvency . The fu...
Wed, Jan 7 2015, 9:58 AM
Black Knight Financial Services, a division of Fidelity
National Financial, has released its "first look" at November mortgage
performance data. ...
Wed, Jan 7 2015, 9:56 AM
Plenty
of LOs and lenders rely on the FHA's programs for their livelihood.
(FHA loans account for about 10% of all applications, VA 11%, USDA 1%.)...
Wed, Jan 7 2015, 9:17 AM
The Mortgage Bankers Association, which traditionally closes its office during
the end of the year holiday season, played catchup today with results ...
Wed, Jan 7 2015, 5:03 PM
Mortgage rates moved slightly higher today, but remained close to the lowest they've been since May 2013. The only day with any lower rates sinc...
Wed, Jan 7 2015, 5:03 PM
It actually turned out to be a rather boring day for the parts of the bond market with which we normally concern ourselves. Treasuries and conformi...
Wed, Jan 7 2015, 4:49 AM
Think of all those times that we began discussing FOMC events days, weeks, and even months in advance. Indeed there may be no other greater market mo...
Tue, Jan 6 2015, 10:51 AM
Home prices
are projected to finish out the year with a downtick although prices will
still be significantly higher than at the same point in 2013...
Tue, Jan 6 2015, 10:44 AM
I'm hooked on watching Buying Alaska, but heck it could be Buying Bismarck, ND for
all I care; there's just something interesting about looking at ...
Tue, Jan 6 2015, 7:33 AM
From an old-school, conventional market-watching point of view, there is significant data on tap today in the form of ISM Non-Manufacturing at 10am. ...
Tue, Jan 6 2015, 5:35 PM
Both Treasuries and MBS hit their best closing levels since May 2013 today as the global flight-to-safety continues. Make no mistake that this move h...
Tue, Jan 6 2015, 3:33 PM
Mortgage rates are on an absolute tear. In the past 2 days, they've rocketed a full eighth of a point lower. They're a full quarter point lower t...
Tue, Jan 6 2015, 1:33 PM
Overnight Treasury trading was positive, largely due to spillover from a much more forceful move in European bond markets. Multiple asset classes a...
