Tue, May 6 2014, 3:36 PM
Mortgage rates
fell back to their lowest levels of 2014, with most lenders in similar
territory to last Friday. Market movement was moderate, ...
Mon, May 5 2014, 12:06 PM
Mortgage originations are at their
lowest level in nearly 10 years Black Knight Financial Services said today. Mortgage originations fell to 238,000...
Mon, May 5 2014, 11:45 AM
Bond markets have been fairly calm this morning, even if slightly weaker after the ISM Non-Manufacturing data (aka ISM Services). Before that, ther...
Mon, May 5 2014, 9:39 AM
How many days do we have to cure a GFE tolerance violation ? The Mortgage Bankers Association of the Carolinas wrote, "Regulation X provides: 'If
...
Mon, May 5 2014, 7:54 AM
Last week ended in ground-breaking fashion with bond markets clawing into positive territory despite a substantially better-than-expected Employment S...
Mon, May 5 2014, 4:15 PM
After Friday's orgiastic frenzy of bet-making and profit taking, bond markets sat back in their seats and abstained today. In poker terms, this is a ...
Mon, May 5 2014, 3:35 PM
Mortgage rates
move up just slightly today, after hitting the lowest levels in 6
months at the end of last week. Some lenders who didn't get t...
Mon, May 5 2014, 3:10 PM
Since the beginning of the housing crisis in 2008 housing experts have
cited concern over the "Shadow Inventory" and the pitfalls it could present ...
Fri, May 2 2014, 12:17 PM
This has been one of the craziest NFP mornings I can remember--probably THE single most paradoxical reaction at first glance. Granted, bond markets...
Fri, May 2 2014, 9:52 AM
There's
nothing wrong with early dinners! According to the U.S. Census Bureau, a
meeting with the National Council of Senior Citizens resulted in ...
Fri, May 2 2014, 7:42 AM
Unless you're just looking at the recent behavior in interest rates for the first time in months, you're well-aware that they've been stuck in a range...
Fri, May 2 2014, 3:41 PM
In looking at yesterday's activity in bond markets, we could see some level of determination to rally regardless of the incoming economic data. The c...
Fri, May 2 2014, 3:16 PM
While the numbers may change, the story of the U.S. labor market
ultimately is the same. Job growth continues, but significant weakness remains.
...
Fri, May 2 2014, 2:26 PM
Mortgage rates
and many other areas of financial markets moved in shockingly
counterintuitive ways after today's big jobs report. Nonfarm payr...
Thu, May 1 2014, 12:40 PM
Overall construction spending increased slightly in March
the Census Bureau said today. Combined
public and private construction was at a seasona...
Thu, May 1 2014, 12:02 PM
10yr yields had been careful to avoid dipping below yesterday's latest levels until after all of this morning's data was out of the way. Once it was,...
Thu, May 1 2014, 11:24 AM
The
Consumer Financial Protection Bureau (CFPB) is again proposing a few minor
modifications to its new mortgage rules, suggesting changes designed ...
Thu, May 1 2014, 10:35 AM
Happy
May Day! After good a good March and a decent April, mortgage banks are
left wondering what May will look like. Today I travel from Chicago ...
Thu, May 1 2014, 7:38 AM
There's no way to be excited about bond markets right now! That is, unless you want to be excited about the fact that things are making great sense...
Thu, May 1 2014, 4:03 PM
Bond markets had a great day today, but the greatness isn't entirely logical ( ironic headline choice this AM , no? ). While there was some economic...
Thu, May 1 2014, 3:12 PM
Mortgage rates fell at the fastest pace in over a month today
bringing them to their lowest levels since early February. The
motivation for ...
Wed, Apr 30 2014, 12:42 PM
In a survey they might as well have
subtitled "The Grass is Always Greener," Gallup found that about a
third of Americans would, if given the opport...
Wed, Apr 30 2014, 11:04 AM
The blue line is stocks; yellow is 10yr yields. When we see a chart like this on the last 2.5 days of the month-- ESPECIALLY when the recent norm has...
Wed, Apr 30 2014, 10:37 AM
Yes, I remember it well; it was 2005 and saying "Jumbo" or "Alt-A" without adding an IO at the end was unthinkable .
Borrowers would ask, "What hap...
Wed, Apr 30 2014, 10:16 AM
Wednesday's FOMC Announcement was almost completely unchanged from the
previous version. Since the Fed is already in the habit of tweaking
only c...
Wed, Apr 30 2014, 8:54 AM
The week ended April 25 was one of the
slowest for mortgage application activity the industry has seen in years. The Mortgage Bankers Association ...
Wed, Apr 30 2014, 7:18 AM
As a quarterly report with monthly updates, GDP releases are slightly different from month to month. The order is: advance, preliminary, and final. ...
Wed, Apr 30 2014, 3:54 PM
Heading into the last hour of trading on this all-star day, bond markets have moved at a fairly average pace, albeit in rate-friendly directions. The...
Wed, Apr 30 2014, 3:27 PM
Mortgage rates fell at a solid pace
today following a reading on 1st Quarter GDP that was much weaker than
expected. Downbeat economic data ...
Wed, Apr 30 2014, 3:10 PM
This will be the first year that financial institutions will be required to
submit to stress tests under the Dodd-Frank Wall Street Reform and
C...
Wed, Apr 30 2014, 1:59 PM
Information received since the Federal Open Market Committee met
in March indicates that growth in economic activity has picked up
recently, after...
Tue, Apr 29 2014, 12:16 PM
The overnight session was nominally weaker for Treasuries, but there was limited activity overall as Japan (the key participant in US Treasuries durin...
Tue, Apr 29 2014, 10:50 AM
Completed foreclosures increased by nearly 6 percent in
March, moving from 45,000 in February to 48,000. CoreLogic said this morning that there we...
Tue, Apr 29 2014, 9:59 AM
Let's face it: lenders who ignore compliance are doomed in the
long run. Here's a recent quick note provided by the Mortgage Bankers
Association...
Tue, Apr 29 2014, 7:48 AM
To be perfectly fair to financial markets, "things could get serious" at any moment really, it's just that the events that are more predisposed to bri...
Tue, Apr 29 2014, 3:34 PM
It was a generally quiet day for bond markets, though that wasn't destined to be the case at the open. Treasuries had weakened slightly overnight and...
Tue, Apr 29 2014, 3:02 PM
The S&P/Case-Shiller 20-City Composite Index rose
slightly in February on a seasonally-adjusted basis, beating analysts' expectations by a hair whi...
Tue, Apr 29 2014, 2:23 PM
Mortgage rates were slightly higher today
as a result of bond market weakness late yesterday and again this
morning. Some of that weakness h...
Mon, Apr 28 2014, 12:20 PM
Home prices nationwide have now
recovered to within 13.5 percent of the peak they reached in June 2006. The national Home Price Index (HPI) provid...
Mon, Apr 28 2014, 11:47 AM
MBS are coping with the double-edged sword that is stronger housing data this morning. On the one hand, the decisive reversal of an 8-month slide in ...
Mon, Apr 28 2014, 10:37 AM
Contracts for home purchases ended a dismal
nine-month downturn in March marked by the first improvement in the Pending
Home Sales Index (PSHSI) p...
Mon, Apr 28 2014, 10:04 AM
Another
trend that is winding down in the banking industry is the long period
of Fed Funds at or near 0%. Whether this happens in 2015 or 2016, ke...
Mon, Apr 28 2014, 7:39 AM
If calendar events like economic reports and monetary policy announcements end up being the impetus for bond markets to break out of their 3-Month sid...
Mon, Apr 28 2014, 3:23 PM
Bond markets were just slightly weaker overnight, with no major volatility or trading themes emerging. MBS walked in the door a bit weaker as a resul...
Mon, Apr 28 2014, 2:45 PM
Mortgage rates
held almost perfectly steady today, with a handful of lenders offering
slightly lower costs while others were slightly higher. ...
Fri, Apr 25 2014, 12:59 PM
While the Gallup survey released on
Thursday shows that Americans are regaining their faith in home ownership, at
least as a worthwhile investme...
Fri, Apr 25 2014, 10:41 AM
David Crowe, Chief Economist of the National
Association of Home Builders (NAHB) told members attending the Association's
2014 Spring Construction...
Fri, Apr 25 2014, 10:23 AM
Bank of America might have to pony up yet another $13 billion to settle
more residential mortgage-backed security claims? No wonder the lending...
Fri, Apr 25 2014, 8:00 AM
Bond markets are "done" with this week. 10yr yields haven't spent more than one day without being on both sides of the fence at 2.70 this week, which...
Fri, Apr 25 2014, 3:37 PM
MBS saw their first trades of the day come in just a hair over yesterday's latest levels, which were also the best of the day. They never looked back...
