Wed, Apr 28 2010, 3:26 PM
No surprises in this data. Purchase apps continue to trend higher as the April 30th tax credit deadline fast approaches. Slowly falling refinance dema...
Wed, Apr 28 2010, 2:24 PM
As expected, the Fed made no mention of selling their mortgage-backed securities portfolio, the "extended period" verbiage was left in place, and inf...
Wed, Apr 28 2010, 2:03 PM
The Treasury has successfully auctioned $42 billion 5 year notes. This was the 6th consecutive offering at this size and likely one of the last times ...
Tue, Apr 27 2010, 12:23 PM
Looks like the market is favoring the flight to safety side of the "conflicting view" story I described in the OPEN. The stock lever has engaged in a...
Tue, Apr 27 2010, 11:06 AM
While this release seems scary, I must remind that this report covers FEBRUARY and existing home sales and new home sales were first seen rising in MA...
Tue, Apr 27 2010, 10:56 AM
How Will Mortgage Bankers Survive in 2010?; HUD Online Training; Mortgage Rate and Yield Spread Primer
Tue, Apr 27 2010, 10:14 AM
In order for the 10 yr note to see much more positive progress, we need 2s to fall below 1.00% again. I doubt that will happen before the FOMC release...
Tue, Apr 27 2010, 8:23 AM
Stock futures are off this morning as the Federal Reserve prepares to begin its two-day monetary policy meeting and Goldman Sachs readies for a Senate...
Tue, Apr 27 2010, 5:42 PM
It's hard to know how all this will play out in coming days, but I do think it's significant that we saw the highest volume in over a month a day BEFO...
Tue, Apr 27 2010, 5:37 PM
Mortgage bankers can’t survive without loan originations. Loan originations create the opportunity to generate revenue through loan fees and secondar...
Tue, Apr 27 2010, 5:23 PM
S&P, the ratings agency, downgraded Greece's government debt to junk status earlier in the day. This was an unexpected event and resulted in stocks se...
Tue, Apr 27 2010, 2:56 PM
Fannie Mae is extending the incentives offered to purchasers of its HomePath REO properties for an additional 50 days beyond the original deadline. T...
Tue, Apr 27 2010, 2:25 PM
Direct bidders offset a continued reduction in indirect demand while primary dealers mopped up the remaining mess. It always makes me nervous when dea...
Mon, Apr 26 2010, 12:44 PM
As far as either breaking higher (in yield) over 3.84 or lower past 3.75 (resistance not shown on chart), a couple key events will be informative thi...
Mon, Apr 26 2010, 10:26 AM
"FHA IS THE WAY" has been the motto of many a mortgage banker and broker since the collapse of the secondary mortgage market in 2007. The attached ch...
Mon, Apr 26 2010, 10:14 AM
Fed vacancies; FDIC targets Illinois; USDA update; MI news; New Homes figures of interest
Mon, Apr 26 2010, 9:02 AM
Main focus today will be on 10yr treasury futures charts for a couple reasons. First of all, treasuries (and especially futures) lend themselves exce...
Mon, Apr 26 2010, 8:38 AM
Stock markets are looking to open the final week of April looking up after the benchmark S&P 500 added 2.1% last week.
Positive earnings results we...
Mon, Apr 26 2010, 5:10 PM
When we say "looking for opportunities to lock," it's to suggest that we keep our eyes open for competitive rate sheets that benefit from the relative...
Mon, Apr 26 2010, 4:27 PM
Mortgage rates bounced back and forth in a relatively tight range before going out at their highest levels of the week last Friday. Although prices of...
Mon, Apr 26 2010, 3:47 PM
While vacancy rates are appearing to moderate, home ownership in the U.S. has declined to a level last seen at the beginning of the decade according t...
Fri, Apr 23 2010, 11:04 AM
Sales of new single-family houses in March 2010 were at a seasonally adjusted annual rate of 411,000. This is 26.9 percent (±21.1%) above the revised ...
Fri, Apr 23 2010, 10:20 AM
Ratings Agency Primer; More on the Non-Agency Mortgage Market; Wells Fargo Still Battling Baltimore; Swimming Pool Requirement
Fri, Apr 23 2010, 9:54 AM
Freddie Mac announced on Thursday that servicers will soon be required to submit all requests for reimbursements through a web based system that will ...
Fri, Apr 23 2010, 9:21 AM
After touching our long standing 3.71% recovery rally target yesterday, long-term bullish trading technicals are being outweighed by short-term tactic...
Fri, Apr 23 2010, 8:13 AM
As European equities climb higher on Friday, the US stock market is looking to open on a positive note following a late rally yesterday. Dow futures a...
Fri, Apr 23 2010, 6:31 PM
Mortgage rates bounced around a tight range for most of the week. There wasn't much in the way of news to motivate movement in the first three days of...
Fri, Apr 23 2010, 2:55 PM
CNBC "broke news" this morning that 6 of 10 FOMC members allegedly believe it would be wise to begin selling their mortgage holdings....in the "near t...
Fri, Apr 23 2010, 2:54 PM
The House Financial Services Committee has voted unanimously to extend USDA home loan guarantees and to make the program self-finding. The full House...
Fri, Apr 23 2010, 1:58 PM
I recently received my ARM notice from Aurora Loan Services that my interest rate was going to adjust in 30 days. Remember ALS? It was the savings ...
Thu, Apr 22 2010, 11:25 AM
Expiration of the home buyers' tax credit and looming premium increases were probably behind a dramatic 68 percent increase in FHA mortgage applicati...
Thu, Apr 22 2010, 10:52 AM
Life in the Secondary Mortgage Market; More on FHA Approvals; New $100 Note; Govie Loan Volume; Updates from Chase and BofA
Thu, Apr 22 2010, 10:20 AM
I show BoA better, Chase better, Citi worse, GMAC better, and Wells worse. REPRICES FOR THE BETTER AROUND 100-23. REPRICES FOR THE WORSE AROUND 100-10...
Thu, Apr 22 2010, 8:31 AM
Stocks fell across Europe and Asia fell Thursday after Greece revealed that its 2009 deficit was a worse than anticipated 13.6% of GDP, against expect...
Thu, Apr 22 2010, 6:22 PM
The answer to the question I posed in the title of this blog: YES. Longer term bullish technicals still outweigh short term bearish arguments. If you ...
Thu, Apr 22 2010, 5:57 PM
The Department of Treasury announced the terms of next week’s debt offering. They will sell $44 billion 2 year notes, $42 billion 5 year notes, $32...
Thu, Apr 22 2010, 1:42 PM
The NAR's comments sum up the month best: “The home buyer tax credit has been a resounding success as these underlying trends point to a broad stabili...
Thu, Apr 22 2010, 1:32 PM
f you already locked, you're good. If you haven't, and HAVE seen a reprice for the worse today, you can afford to wait and hope for a not-as-likely t...
Wed, Apr 21 2010, 10:25 AM
Besides the pool of potential homebuyers who might be waiting for the tax credit to expire (in hopes of home prices falling further as a portion of de...
Wed, Apr 21 2010, 10:19 AM
FHA Issues Final Rule on Lender Approval Process; No Guarantee Tax Credit Loan Close By June 30; Several Investor Updates
Wed, Apr 21 2010, 9:18 AM
* MBS opened up as high as 100-10 before 9am, trends still developing
* The 10yr took a nice "baby bounce" off yesterday's low yield as a MAJOR p...
Wed, Apr 21 2010, 8:09 AM
Ahead of earnings statements from Wells Fargo and Morgan Stanley, equity futures are soft this morning while commodity prices are modestly higher.
...
Wed, Apr 21 2010, 6:03 PM
Not sure and we really don't want to look too much into this market's "feelings" at the moment. The empty economics calendar, constant babble about Go...
Wed, Apr 21 2010, 5:30 PM
Mortgage rates did improve today, but the Treasury Department will announce the terms of next week's government debt auctions at 11am tomorrow. The Tr...
Wed, Apr 21 2010, 3:38 PM
The "rate sheet influential" FN 4.5 MBS coupon is just off its highest prices/lowest yields of the day and one major lender just repriced for the bett...
Wed, Apr 21 2010, 3:37 PM
Jonathan Spurr, a like-minded colleague of mine and a wholesale account rep for 18 years came up with this idea which we just pitched to the Arizona D...
Wed, Apr 21 2010, 1:48 PM
Best possibility remains reprices for the better. Take note of how aggressive the pricing is (or isn't). And if you're looking at something that's a...
Tue, Apr 20 2010, 12:20 PM
Fannie Mae: "We believe that the recent pickup in mortgage rates will not be sustained. Our view on mortgage rates is little changed from the previous...
Tue, Apr 20 2010, 11:39 AM
Anything New in Warehouse Lending?; Long Term Locks and RESPA; DO/DU Version 8.1 Release Notes; Earnings News
Tue, Apr 20 2010, 10:38 AM
Activity seems subdued. If I were looking for a reason to believe that chopatility might trigger the above offered reprice targets, I might say a lack...
