Wed, May 28 2014, 12:02 PM
Freddie Mac's new Multi-Indicator Market
Index (MiMi) continues to show a weak housing market overall. The national MiMi value is flat compared to...
Wed, May 28 2014, 11:57 AM
Things had been pretty tame for MBS and Treasuries after the last round of excitement ended on May 15th. That was when the last major rally ended and...
Wed, May 28 2014, 10:40 AM
How much is 90-minutes of your time worth? How about that of your
originators, underwriters and processors? MBA recently launched a new web course ...
Wed, May 28 2014, 8:48 AM
Despite
interest rates falling to levels last seen almost a year ago, mortgage
application volume retreated slightly after three weeks of iimprove...
Wed, May 28 2014, 7:39 AM
Even though yesterday had more going on in terms of scheduled events, today will likely see better participation among traders. The current order of...
Wed, May 28 2014, 4:53 PM
After starting the day just slightly stronger, and with absolutely nothing by way of major market-moving considerations, Fannie 3.5s moved up over hal...
Wed, May 28 2014, 3:28 PM
After tying the record for most consecutive days with no change, mortgage rates moved significantly lower today .
The significance isn't due t...
Tue, May 27 2014, 12:06 PM
All three home price surveys released this morning showed
prices increased in March, a more moderate improvement than in previous months in
some c...
Tue, May 27 2014, 12:00 PM
Much like the magic that happens when you give an old wooden paddle-ball/string toy to a kid raised in the electronic generation, markets found a surp...
Tue, May 27 2014, 10:11 AM
The industry knows that 2013 was the tale of two profitability profiles for residential lending:
the first half and the second half. Now the MBA hav...
Tue, May 27 2014, 7:45 AM
A common quip on Wall Street is that financial markets will do what it takes to prove as many people wrong as possible. Variations of the same concep...
Tue, May 27 2014, 3:44 PM
Bond markets took their own sweet time getting back to business after the holiday weekend. Trading activity was lighter than normal and apart from ...
Tue, May 27 2014, 3:03 PM
Mortgage rates were slightly higher
this morning, but mid-day market improvements led many lenders to
adjust rates lower into the afternoon. T...
Fri, May 23 2014, 11:50 AM
Very little has happened so far on this holiday-shortened Friday (Monday's the holiday, but MBS/Treasuries close 3 hours early today). The lack of ac...
Fri, May 23 2014, 11:36 AM
The U.S. Census Bureau
and the Department of Housing and Urban Development said today that the sales
of new single family homes in April were at a s...
Fri, May 23 2014, 11:19 AM
I
remember when I first entered the working world, after a few months my
HR person asked, "I see that you're not signed up for the company's
401...
Fri, May 23 2014, 8:00 AM
In yesterday's recap, I mentioned that Treasuries have been trending higher in a 'fairly classic consolidation pattern' and that this was evidence tha...
Fri, May 23 2014, 1:24 PM
Mortgage rates didn't budge
today--not one little bit. It's one thing for lenders to be adjusting
rate sheets at various points in the day, be...
Thu, May 22 2014, 12:45 PM
Mortgage
banks had what the Mortgage Bankers Association (MBA) termed "respectable"
production profits in 2013 , even though they were dramatically...
Thu, May 22 2014, 12:08 PM
As we frequently discuss, 10yr yields are the best technical benchmark for how rates are moving even though mortgage rates themselves are directly inf...
Thu, May 22 2014, 11:21 AM
There were stirrings of a spring market
in April as both existing home sales and the inventory of available homes
increased. The National Associati...
Thu, May 22 2014, 10:47 AM
While prepayment rates have plummeted
since last year they did show some signs of life in April Black Knight
Financial Services said today. While...
Thu, May 22 2014, 9:55 AM
More informal/off-the-record chatter from the MBA's Secondary Conference . Many companies are moving toward a variable cost model
rather than fixed...
Thu, May 22 2014, 7:51 AM
Last week, bond markets shot the moon by improving substantially even when the odds were stacked against them. Those stacked odds consisted of stro...
Thu, May 22 2014, 3:48 PM
Markets close at 2pm tomorrow in observance of the Memorial Day Holiday, and will be fully closed on Monday. With that in mind, we've essentially mad...
Thu, May 22 2014, 2:58 PM
Mortgage rates ,
once again, are ending the day essentially unchanged compared to the
previous day. Morning rate sheets were in stronger territ...
Wed, May 21 2014, 12:38 PM
We haven't seen bond markets move this sideways all the way through morning hours in quite some time (weeks at least). 10yr yields have been within ...
Wed, May 21 2014, 10:57 AM
Along with a recent rise in bank owned
real estate the foreclosure crisis drags on in the form of increasingly long
timelines for completing the for...
Wed, May 21 2014, 10:15 AM
Here's a little more informal/off-the-record chatter from the Secondary Conference .
First, there is a general sense of optimism among the particip...
Wed, May 21 2014, 8:47 AM
It was only by a fraction, but mortgage
application activity was up for the third straight time during the week ended
May 16. The Mortgage Banker...
Wed, May 21 2014, 8:00 AM
The drought of significant events this week finally ends today as the Fed releases the minutes from the April 29-30th policy-setting meeting. That me...
Wed, May 21 2014, 4:07 PM
Today's news was largely out yesterday: the Fed will probably reevaluate their exit strategy last spelled out in 2011--yes, the 2011 that was 3 years...
Wed, May 21 2014, 3:16 PM
Mortgage rates
held almost perfectly steady today, despite the potentially important
release of last month's meeting minutes from the FOMC (aka...
Wed, May 21 2014, 2:20 PM
Federal Reserve officials discussed rate hike procedures at a joint meeting, but agreed the discussion does not signal rate action is coming soon. ...
Tue, May 20 2014, 12:27 PM
It
has been a tough few years for real estate agents but according to information
released by the National Association of Realtors (NAR) that appear...
Tue, May 20 2014, 12:03 PM
In general, Treasuries--or better yet, 'overall bond market momentum'--leads and MBS follow. But it does happen the other way around sometimes. Toda...
Tue, May 20 2014, 10:50 AM
There are several interrelated factors
which have led to a recent increase in the number of bank-owned properties (REO)
nationally. While most me...
Tue, May 20 2014, 9:52 AM
Sales, prices, and inventories all
showed some signs of life in April.
Redfin said today that median home prices were up in all markets on an
an...
Tue, May 20 2014, 9:40 AM
Various topics from the hallways of the MBA's Secondary conference... How can the CFPB go from a
handful of employees to over 1,400 in a few short ...
Tue, May 20 2014, 8:00 AM
The first two days of the week have essentially no actionable data on the schedule. The effects were made painfully obvious yesterday as bond markets...
Tue, May 20 2014, 4:39 PM
Bond markets started the domestic session in line with yesterday's latest levels, which were also yesterday's lows. Trading levels maintained a somew...
Tue, May 20 2014, 3:37 PM
Mortgage rates
improved modestly today, making it back in line with Friday's levels.
These aren't the very best rates of 2014, but they're clo...
Mon, May 19 2014, 11:49 AM
Both Treasuries and MBS hit the 8am mark right in line with Friday's latest levels. As the domestic bond market session officially got underway with ...
Mon, May 19 2014, 10:38 AM
According to officials familiar with the matter, Shaun Donovan will be leaving the secretary position at
the Department of Housing and Urban Devel...
Mon, May 19 2014, 10:27 AM
People
here at the Secondary Marketing conference are keenly interested in an
insider's view of what the MBA is focused on, and what is causing a ...
Mon, May 19 2014, 7:55 AM
So far in the month of May, MBS have been making much bigger day to day moves than in April. But it's worth remembering that things can get a lot m...
Mon, May 19 2014, 4:06 PM
Heading into the last hour of trading, MBS have undone the past three days of gains. Such a statement is a bit more palatable when the MBS hit their ...
Mon, May 19 2014, 3:10 PM
Mortgage rates
began the day in roughly the same territory as Friday afternoon. Some
lenders were in slightly better shape while others were s...
Mon, May 19 2014, 1:24 PM
Freddie
Mac's economists used this month's Economic and Housing Market Outlook to look
at three areas of supply and demand.
Analyzing each, they s...
Mon, May 19 2014, 1:10 PM
David H. Stevens, President of the Mortgage
Bankers Association (MBA) told members attending the organization's annual
convention in New York today ...
