Fri, May 14 2010, 6:59 PM
It is very tempting to advise floating in this situation. Mortgage rates are literally at their best levels of the year. Consumer borrowing costs real...
Fri, May 14 2010, 6:48 PM
For whatever reason, which fundamental and technical can be offered, stocks sold off today. The S&P was down 2.01% to 1135.80 and the Dow fell 1.50% t...
Fri, May 14 2010, 1:01 PM
Rate sheets were a bit delayed this morning as lenders scrambled to figure out what percentage of their pipeline would need float downs today. The gen...
Thu, May 13 2010, 11:47 AM
Foreclosure activity in April dipped from earlier monthly and yearly figures. A dramatic drop in initial filings and surge in bank repossessions may ...
Thu, May 13 2010, 10:53 AM
The pendulum swings one way and then the other. Markets are extremely noncommittal with Gold and the Euro being the only assets exhibiting significan...
Thu, May 13 2010, 9:33 AM
HUD Secretary Shawn Donovan told his staff on Wednesday that the agency's new strategic plan and its five associated goals will serve to carry the age...
Thu, May 13 2010, 9:04 AM
Senate Votes to Limit Mortgage Broker Compensation Options and Require Bankers to Retain Risk; Industry Job Losses; More on Loan Buyback Requests;
Thu, May 13 2010, 8:11 AM
Equity futures suggest sentiment is mixed ahead of the open on Thursday after a broad and steady climb in the markets yesterday pushed the S&P 500 up ...
Thu, May 13 2010, 5:09 PM
4.5's Go Out +0-06 at 101-07. MBS Current Coupon: -3.3bps at 4.303%. 10yr TSY 3.70 bps lower at 3.534%. Long Bond Auction Went Well. MBS spreads tigh...
Thu, May 13 2010, 4:58 PM
With rates at the best levels of the year, I continue to advise locking all loans closing within 30 days and also encourage you to consider longer ter...
Thu, May 13 2010, 3:24 PM
In another move to smooth the flow of information and improve the rate of temporary to permanent loan modifications, HUD has opened a new web port to ...
Thu, May 13 2010, 3:08 PM
This week USDA announced that lenders could continue to fund loans despite a budget shortfall that had threatened to put an early end to 2010 USDA loa...
Thu, May 13 2010, 1:54 PM
While the long bond refunding didn't go as well as the previous reopenings, it went well for a refunding. Direct bidders continue to be a massive sour...
Wed, May 12 2010, 10:57 AM
The removal of government funded homebuyer incentives is forcing loan originators, realtors, and builders to produce new promotion strategies and mode...
Wed, May 12 2010, 10:30 AM
FDIC Proposes Risk Retention Rules for Securitized Loans; The Price Mechanism and Discounting Risk; FHA Broker Approval Update
Wed, May 12 2010, 10:06 AM
Wed, May 12 2010, 8:49 AM
The global stock market is relatively benign this morning, and domestic stocks look to open firmer, after Euro zone Q1 GDP rose 0.2% in the quarter, s...
Wed, May 12 2010, 5:26 PM
The most mortgage rate influential event of the day was supposed to be the Treasury's auction of $24 billion of 10 year notes. However the auction res...
Wed, May 12 2010, 4:09 PM
The Budget deficit is at a record high. It's almost as if QE costs money, but then we're surprised when we get a report back that says we're spending...
Wed, May 12 2010, 3:17 PM
The Acting Director of FHFA told a senate committee on Monday that forcing the GSEs and FHLBanks to participate in the proposed Financial Recovery Fee...
Wed, May 12 2010, 2:01 PM
Direct bidders continue to show up as big U.S. debt supporters, indirect bidders were aggressive, taking home almost 70% of what they bid on (hit rate...
Tue, May 11 2010, 12:43 PM
Michael Fratantoni, MBA's Vice President of Research and Economics added, "The severity and duration of the most recent downturn far exceeds what we h...
Tue, May 11 2010, 10:20 AM
With only low-tier data out so far today, the focus moving forward should be on the 3yr note auction. Recent bullishness in bonds, in general, is gen...
Tue, May 11 2010, 10:04 AM
Two Housing Reports:Underwater Homeowners and Home Values; Chase Updates Flipping Policy; Fannie Mae DU Version 8.1; GSE Reform Bill
Tue, May 11 2010, 8:10 AM
The broad stock market rally from yesterday appears to have fizzled out this morning, as equity futures are looking sharply lower ahead of a quiet dat...
Tue, May 11 2010, 6:07 PM
t does seem that even those who see low interest rates prevailing (or even getting a bit lower) in the medium term, are still expecting some weakness ...
Tue, May 11 2010, 5:42 PM
Mortgage rates continue to take their directional guidance from headline news and stocks. Today stocks opened lower which helped Treasuries and MBS ra...
Tue, May 11 2010, 4:27 PM
While sales were down from the tax-credit fueled pace of Q4, the National Association of Realtors' latest sales survey shows an increase of median hom...
Tue, May 11 2010, 3:40 PM
The MBS coupons that determine rate sheet pricing are traded in the TBA MBS market. TBA = To be Announced. In the TBA MBS market, at the time a trade ...
Tue, May 11 2010, 3:31 PM
America was built by risk-takers, and you can’t have risk without potentially negative outcomes. If America were to become a risk-free society, this ...
Tue, May 11 2010, 2:21 PM
While the auction went well, benchmark Treasury yields were already being pressured higher by the stock level ahead of auction results.
Mon, May 10 2010, 12:48 PM
Fannie Mae has reported First Quarter 2010 Earnings Results. The government-sponsored enterprise, lost $11.5 billion in the first quarter compared wit...
Mon, May 10 2010, 11:15 AM
Fannie Mae's Book of Business increased substantially in March, reflecting the purchase of delinquent loans from MBS trusts that have not yet be liqui...
Mon, May 10 2010, 10:47 AM
Quality Control Second Credit Report Requirements; FHA Broker Approvals; Do Not Call Lists; Lender Turn Times Redefined
Mon, May 10 2010, 10:12 AM
The originator friendly flight to quality that led benchmark interest rates 30 basis points lower last week is now being backed out of the bond market...
Mon, May 10 2010, 8:41 AM
Stocks are trading much higher overseas and equity futures look to open sharply higher in the US as global support for the European debt problem grew ...
Mon, May 10 2010, 5:39 PM
The simple fact that stocks rallied big and treasuries sold similarly does not necessarily mean that "low rates" are heading higher due to the earlier...
Mon, May 10 2010, 4:05 PM
Over the weekend the European Union, IMF, and several Central Banks including the U.S. Federal Reserve announced a coordinated effort to put an offici...
Mon, May 10 2010, 2:45 PM
Equity markets are holding onto gains after experiencing an unexplained liquidity freeze and record price dip last Thursday. Benchmark interest rates ...
Fri, May 7 2010, 11:26 AM
Impact of Fannie's Quality Control Initiative on Lenders; PMI Reports Improving Home Values; HUD Gives Guidance on Lead Paint
Fri, May 7 2010, 10:13 AM
Nonfarm payroll employment rose by 290,000 in April, the unemployment rate edged up to 9.9 percent, and the labor force increased sharply, the U.S. Bu...
Fri, May 7 2010, 8:08 AM
After an insane day in the stock market yesterday, which saw the Dow fall by nearly 1,000 points, or 9.2%, before rebounding and closing with a loss o...
Fri, May 7 2010, 6:44 PM
Normally a better than expected economic release, especially one as influential as the Employment Situation Report, gives stock traders a reason to bu...
Fri, May 7 2010, 2:35 PM
What does it all mean? Not a clue, as always... But we'd watch the long term trends in 10's above all else, and have a little default assumption abo...
Fri, May 7 2010, 1:28 PM
A Federal Reserve Bank of Atlanta working paper examines the relationship between financial literacy and subprime mortgage delinquencies. They found ...
Thu, May 6 2010, 12:34 PM
Reprices for the better either have already hit, or soon will. Expect gravity around 3.49 in the 10yr, and a trampoline-like sheet of nearly impenetr...
Thu, May 6 2010, 10:43 AM
Plethora of Job Openings for Originators; Negative Convexity Explained; Clean Energy Loans; Freddie Mac Earnings
Thu, May 6 2010, 10:12 AM
Productivity advances have served to limit further layoffs and keep inflation low....this a positive for the housing industry as controlled inflation ...
Thu, May 6 2010, 7:53 AM
Volatility in the US stock market hit a three-month high yesterday as the benchmark S&P 500 has shed 3% in the past two trading days. Equity futures h...
Thu, May 6 2010, 5:58 PM
The biggest single day point drop in the history of the Dow Jones Industrial Average was the primary source of motivation in the interest rate market ...