Tue, Jul 8 2014, 7:42 AM
"The range" is admittedly an overused term, and it requires constant contextual clarification. While various examples offer convenient connections be...
Tue, Jul 8 2014, 4:38 PM
Market participation was pathetic yesterday--the lightest session since at least April. Today was merely "average" but that's a huge improvement over...
Tue, Jul 8 2014, 3:10 PM
Mortgage rates improved today .
The bonds that most directly affect rates got a boost from stock market
weakness and ongoing European bond mark...
Mon, Jul 7 2014, 12:40 PM
From Thursday's latest levels, Fannie 3.5s are 3/32nds higher in price, compared to a 9/32nds gain in 10yr Treasuries (also in price). That means Tre...
Mon, Jul 7 2014, 10:55 AM
Responses to Fannie Mae's National
Housing Survey for June showed more marked changes in several categories than
has been the case in recent month...
Mon, Jul 7 2014, 10:28 AM
Here's a survey for LOs - maybe it will have an impact on being able to contribute closing costs to borrowers.
"Last year, the Government Affair...
Mon, Jul 7 2014, 7:32 AM
On the whole, 2014 has certainly seen a narrow range in rates, but within that broader range, we've still been able to witness distinct trends. For...
Mon, Jul 7 2014, 4:48 PM
Today's session barely had a pulse. Weather is nice. It's the day after a 3-day weekend, and there was nothing meaningful on the event calendar. ...
Mon, Jul 7 2014, 3:20 PM
Mortgage rates didn't move
today. Some lenders were slightly higher or lower compared to
Thursday, but only in terms of closing costs, and onl...
Thu, Jul 3 2014, 12:05 PM
Inexplicable bond market resilience isn't always about the Eurozone, but sometimes it is, and today is one of those times.
In order to have inexpli...
Thu, Jul 3 2014, 10:46 AM
Remember RMIC ?
"On June 27, 2014 the North Carolina Department of Insurance issued a
Final Order ("Order") Approving the Amended and Restated Co...
Thu, Jul 3 2014, 7:31 AM
There is so much on tap today per hour of open market time. It may be some sort of record. Not on the economic calendar below, but still potentially...
Thu, Jul 3 2014, 3:23 PM
There's not much left to be said or concluded in terms of today's events (because it's a short day, and there simply hasn't been much time between now...
Thu, Jul 3 2014, 2:33 PM
Mortgage rates were higher yet again
today, taking their cue from the Employment Situation report. This is
the big "jobs report"--the most imp...
Thu, Jul 3 2014, 2:15 PM
In the second part
of the Harvard Joint Center for Housing Studies' latest update on The State of the Nation's Housing, the
authors look at the na...
Thu, Jul 3 2014, 1:26 PM
The Harvard Joint Center for Housing Studies' most recent edition of The State of the Nation's Housing deals first with the current status of the hous...
Thu, Jul 3 2014, 1:04 PM
Mortgage
prepayments have picked up over the last three months as interest rates pulled
back from recent highs. Black Knight
Financial Services ...
Wed, Jul 2 2014, 12:17 PM
Referring to the morning's weakness as exclusively "ADP-inspired" is a bit of an overstatement . Bond markets have generally been trading in the dir...
Wed, Jul 2 2014, 10:10 AM
In
July 1776, the estimated number of people living in the newly
independent nation was 2.5 million. (Nowadays, this is approximately the
number...
Wed, Jul 2 2014, 8:54 AM
Even as
mortgage interest rates retreated across the board last week Mortgage
application volume remained essentially unchanged . The Mortgage Ban...
Wed, Jul 2 2014, 7:42 AM
Thursday approaches, bringing with it a glut of significant economic data, an ECB Announcement, and an early close in observance of Independence Day. ...
Wed, Jul 2 2014, 6:36 PM
Love it or hate it, ADP data matters when it's as far from consensus as it was this morning (otherwise, it's been having less and less of an impact). ...
Wed, Jul 2 2014, 5:36 PM
Mortgage rates moved higher today ,
once again at faster pace than most of the recent movement higher or
lower. The weakness in mortgage market...
Tue, Jul 1 2014, 12:10 PM
Simply put, there's been a moderate, but pervasive amount of bond market weakness intact ever since yesterday's quarter-end trading wrapped up. As we...
Tue, Jul 1 2014, 10:57 AM
Home
prices enjoyed a 27 th straight month of year-over-year growth in May
CoreLogic said today, but noted that those gains are no longer in the ...
Tue, Jul 1 2014, 10:47 AM
Yes, smaller lenders sue each other. The latest verdict announced was a decision between Stearns and Prospect Mortgage . And we have the latest set...
Tue, Jul 1 2014, 7:46 AM
With the end of the month/quarter out of the way, bond markets may now have more capacity to tune in to the week's economic data. But when quarter-en...
Tue, Jul 1 2014, 4:46 PM
One theme dominated the day: changing of the guard between June/Q1 trading and July/Q2. Out with the old, in with the slightly less old, but not fund...
Tue, Jul 1 2014, 4:02 PM
Mortgage rates finally made a move higher
today as financial markets transitioned from 2nd to 3rd quarter trading
strategies. Most frequently,...
Tue, Jul 1 2014, 2:06 PM
Federal and state regulatory
agencies have issued final guidance to financial institutions under their
jurisdiction regarding home equity lines of c...
Tue, Jul 1 2014, 1:46 PM
Construction spending in the U.S. was
essentially flat in May although there were gains from one year earlier. A small gain in spending by the pub...
Mon, Jun 30 2014, 12:05 PM
While the overnight sessions was relatively uneventful, the first half of the domestic session has seen some decent volatility . After starting out ...
Mon, Jun 30 2014, 10:32 AM
There was encouraging home market news
from the National Association of Realtors® (NAR) this morning. The association's Pending Home Sales Index
s...
Mon, Jun 30 2014, 10:02 AM
Suddenly
the entire industry seems interested in three things: using the Federal
Home Loan Banks as a pseudo-warehouse line, jumbo deals, and
fo...
Mon, Jun 30 2014, 7:27 AM
Pound for pound, this is one of the busiest weeks of the year . There are relevant economic reports every day as well as Fed speakers and the last t...
Mon, Jun 30 2014, 3:50 PM
Considering that today's trading range wasn't meaningfully wider than Friday's AND that closing prices look like they'll fall inside Friday's range, t...
Mon, Jun 30 2014, 3:40 PM
The Federal Housing Finance Agency said
on Friday that Freddie Mac and Fannie Mae continue to complete thousands of
foreclosure prevention actions i...
Mon, Jun 30 2014, 2:49 PM
Mortgage rates were unchanged today.
More often than not, when the average rate is unchanged, it's due to a
balance between some lenders offer...
Fri, Jun 27 2014, 12:33 PM
Heading into today, we were prepared for there to be no particular rhyme or reason behind market movements. Money managers are primarily focused on...
Fri, Jun 27 2014, 10:09 AM
This
week I have been fortunate to spend some time with members of the
Mortgage Bankers of Hawaii. Honolulu, like so many other areas, has its
s...
Fri, Jun 27 2014, 7:42 AM
The actual end of the quarter isn't until Monday, but it's not uncommon for market participants to get end-of-quarter (or end-of-month for that matter...
Fri, Jun 27 2014, 5:54 PM
For a third straight day, bond markets improved into the domestic session and gave back gains in the afternoon (chart below). Of those three days, to...
Fri, Jun 27 2014, 5:09 PM
Mortgage rates moved lower again ,
with the best options available in the morning hours. After that, bond
markets including MBS (the mortgage-b...
Fri, Jun 27 2014, 2:39 PM
The U.S. housing recovery should regain its
footing, but also faces a number of challenges .
Tight credit, still elevated unemployment, and mounti...
Fri, Jun 27 2014, 2:16 PM
RealtyTrac
recently analyzed residential sales over the year that ended in March to
determine what drives discounts in the market value or premium...
Fri, Jun 27 2014, 1:52 PM
The
percentage of current and performing mortgages serviced by large national and
federal savings banks improved by more than a percentage point dur...
Thu, Jun 26 2014, 12:31 PM
The Office of Comptroller of the Currency's (OCC) National Risk Committee (NRC) pronounced the financial position
of federally chartered institutions...
Thu, Jun 26 2014, 12:10 PM
As we discussed in The Day Ahead , bond markets were sending signals that they were embarking on a trend of improvement. The caveat was that those s...
Thu, Jun 26 2014, 11:15 AM
The ABA
reports community banks now spend about 15% of revenue
on compliance to meet regulatory requirements. True, the cost of doing
busine...
Thu, Jun 26 2014, 7:42 AM
In at least 2 discussions on MBS Live yesterday, I referenced the current technical landscape in a clever way by saying the biggest risk to the analys...
