Tue, Jul 13 2010, 12:14 PM
Money is flowing out of bonds and into stocks ahead of the release of the 10-year Treasury note auction results.
Tue, Jul 13 2010, 12:07 PM
All individuals, companies and organizations experience change. Some change is drastic and some is slight. How we confront and adapt to change defin...
Tue, Jul 13 2010, 10:23 AM
HARP Subordination Scenario; Jumbo Loan Foreclosure Numbers; Rates Low But Fewer Qualified Borrowers; International Homebuyers
Tue, Jul 13 2010, 8:31 AM
The stock market is set to open higher after Alcoa kicked off the second-quarter earnings season with better than expected results. One hour before th...
Tue, Jul 13 2010, 5:11 PM
The S&P rallied 1.54% today, extending it's winning streak to six days, benchmark Treasury yields closed at their highest levels in almost three weeks...
Tue, Jul 13 2010, 3:26 PM
Beyond the human costs, local and federal government suffer very real economic impacts from homelessness. The homeless, particularly those who are ch...
Mon, Jul 12 2010, 12:52 PM
The Federal Housing Finance Agency (FHFA) has issued subpoenas to 64 companies seeking loan documents and other information related to private-label m...
Mon, Jul 12 2010, 11:17 AM
Lenders who released pricing early this morning or desks that had extra juice built into rate sheets may reprice for the better. However, although st...
Mon, Jul 12 2010, 10:59 AM
Congress Goes Back to Work; Reverse Mortgage Volumes; Fannie Appraisal Changes; G-Fees
Mon, Jul 12 2010, 9:24 AM
The benchmark S&P 500 jumped more than 5.4% in last week’s holiday-shortened week. But the index remains about 3% off its 50-day moving average, accor...
Mon, Jul 12 2010, 5:48 PM
You won't notice a difference tomorrow. Lenders have been building loan pricing based on the August coupon for several weeks already, that's why I've ...
Mon, Jul 12 2010, 3:55 PM
Although the calendar has more to share in the week ahead, mortgage rates are still expected to take their directional guidance from the sentiment of ...
Mon, Jul 12 2010, 1:07 PM
Stocks are attempting to breakout of their recent range, benchmark interest rates are higher, the yield curve is steeper, and rate sheet influential M...
Fri, Jul 9 2010, 12:46 PM
The empty econ calendar, congressional vacation ,holiday shortened work week is coming to an end with little fanfare. Trading volumes are low and non-...
Fri, Jul 9 2010, 12:21 PM
This week I attended the Western Secondary Market Conference sponsored by the California Mortgage Bankers Association. During my discussions with sev...
Fri, Jul 9 2010, 12:06 PM
The Fed, The Economy, And Mortgages; Loan Production Picks Up; Wholesale Lender Updates
Fri, Jul 9 2010, 8:44 AM
The S&P 500 has gained 4.1%, or 42.2 points in the past two days. This morning stock futures are mixed. One hour before the opening bell, Dow futures...
Fri, Jul 9 2010, 4:50 PM
Risk On? Risk Off?
Although BIG PICTURE perspective has been the primary source of risk averse investing pessimism, the market is still dominated b...
Thu, Jul 8 2010, 12:42 PM
Wells Fargo Cutting Jobs; Consumer Credit; SAFE Act Resource; M.I. Update; Manufactured Housing Lenders
Thu, Jul 8 2010, 9:45 AM
Stocks are apathetically maintaining recent positive progress. Regardless of a lack of investor participation and generally mixed reads on price actio...
Thu, Jul 8 2010, 8:09 AM
Equity futures are roughly flat this morning after a financial sector-led rally yesterday pushed the Dow up 274 points to beyond the 10,000 mark. Lit...
Thu, Jul 8 2010, 2:21 PM
Stocks are off week over week highs, the 10yr note is ticking back down toward 3.00%, and rate sheet influential MBS prices are approaching reprice fo...
Thu, Jul 8 2010, 1:03 PM
The National Association of Realtors reports that a stronger dollar and improving economy are motivating many international buyers to purchase homes i...
Wed, Jul 7 2010, 11:43 AM
Typically, in weeks like this, the bond market and mortgage rates take their directional guidance from the general sentiment of the market. Stock mark...
Wed, Jul 7 2010, 10:41 AM
The Future of Rate Sheets; Mortgage Industry News That Isn't Pessimistic; High Opportunity Cost Investing
Wed, Jul 7 2010, 8:28 AM
Equity futures and benchmark interest rates are both moderately lower this morning ahead of a light day with no significant data. Global stocks fell a...
Wed, Jul 7 2010, 5:43 PM
Stocks started the session today trading slightly in the red, which helped keep benchmark bond yields low and allowed lenders to improve mortgage rate...
Wed, Jul 7 2010, 3:06 PM
Is the rise in the refi index a factor of new borrowers entering the refi market or is it a factor of borrowers re-locking at another lender for a low...
Tue, Jul 6 2010, 12:53 PM
Most lenders took down pricing indications when MBS were bid 6-10 ticks lower than current levels. While some desks may reprice for the better, the F...
Tue, Jul 6 2010, 10:55 AM
The Department of Housing and Urban Development has released preliminary data from its 2009 American Housing Survey showing that American homes are bi...
Tue, Jul 6 2010, 9:43 AM
I will say the same thing about this round of MBS sales rhetoric that I said about the Fed's first few attempts to breach the subject: selling MBS hol...
Tue, Jul 6 2010, 9:41 AM
Tax Credit Closing Deadline Extension Signed; Appraisal Chatter; Lender Update, Job Postings
Tue, Jul 6 2010, 8:48 AM
Equity futures are on the rise this morning after stock markets changed tone from last week and rallied globally. The holiday-shortened week ahead is ...
Tue, Jul 6 2010, 4:47 PM
Not much in the way of scheduled data to move the markets this week. Typically, in weeks like this, the bond market and mortgage rates take their dire...
Tue, Jul 6 2010, 1:51 PM
Six years ago Joe Garrett and I co-authored an article called "The Seven Deadly Sins of Mortgage Bankers". The article examined seven key mistakes ma...
Fri, Jul 2 2010, 10:38 AM
Mortgages are trading in light volume with minimal supply on screens. The range trade is obvious. The August delivery Fannie Mae 4.0 MBS coupon is -0-...
Fri, Jul 2 2010, 9:22 AM
National Flood Insurance Program Extended; Originator ID Requirements; Electronic Loan Apps; NAMB Call to Action
Fri, Jul 2 2010, 8:30 AM
Stock futures trade higher initially but are currently back to pre-NFP levels. The 10yr note has rallied 2.6bps lower to 3.929%. The August FNCL 4.0 i...
Fri, Jul 2 2010, 8:07 AM
The general media thought last month’s Nonfarm Payrolls / Employment Situation report was bad, but June’s report promises to be much worse. Thanks to ...
Fri, Jul 2 2010, 6:41 PM
"This country will not be a good place for any of us to live in unless we make it a good place for all of us to live in." Theodore Roosevelt
Fri, Jul 2 2010, 6:06 PM
It really didn't. Not today at least. It did yesterday though, and Monday, and Tuesday, and Wednesday. After a streak of worse than expected economic ...
Fri, Jul 2 2010, 1:03 PM
One way to get a picture of homelessness is to look at data collected by HUD during a single night when canvassers nationwide look in shelters, abando...
Thu, Jul 1 2010, 11:56 AM
The benchmark 10 year note yield is back below 3.00% and mortgage rates are at lifetime lows. Hello homeowners! Why isn’t everyone (who can qualify)...
Thu, Jul 1 2010, 11:30 AM
Late Wednesday night the Senate followed the lead of the House of Representatives and voted to extend the closing deadline for the popular homebuyer t...
Thu, Jul 1 2010, 10:04 AM
A flurry of data just flashed...it was disappointing
Thu, Jul 1 2010, 9:37 AM
Top Mortgage Underwriters in H1 2010; MBS Issuance Jumps; Tax Credit Update; AUS Flipping; Lending Profits Rebound; Updates from BofA, PHH, Lenders On...
Thu, Jul 1 2010, 8:06 AM
Equity futures are flat this morning ahead of key labor, manufacturing, and housing data. Ninety minutes before the opening bell, Dow futures are down...
Thu, Jul 1 2010, 6:35 PM
f you're floating you should be conscious of this observation, especially if you're writing a note rate close to par. These mortgage rates are the mos...
Thu, Jul 1 2010, 5:38 PM
The par 30 year conventional rate mortgage remains in the 4.375% to 4.625% range for well qualified consumers but borrowing costs were slightly higher...
Thu, Jul 1 2010, 1:08 PM
The Pending Home Sales Index, a forward-looking indicator, dropped 30.0 percent to 77.6 based on contracts signed in May from a reading of 110.9 in Ap...
