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Mortgage rates rose moderately for the 3rd day in a row today, bringing them to the highest levels since December 31st for the average lender. In outright terms, this equates to an increase of an eighth of a percentage point (.125%) since the most recent lows last Thursday. While it's only 3 days of weakness in the mortgage market, the concern is that it could be part of a much larger market trend. Stock prices and interest rates moved lower together for the better part of 2 months. The drop was relatively extreme for stocks, and nothing to shake a stick at for rates. The risk is that we're only in the early phase of a bigger correction. While that would be great news for stock market investors, it would be less pleasant for those with a vested interest in lower mortgage rates. All of the above
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Mortgage Rate Watch
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Mortgage rates rose moderately for the 3rd day in a row today, bringing them to the highest levels since December 31st for the average lender. In outright terms, this equates to an increase of an eighth of a percentage point (.125%) since the most re... (read more) |
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MBS Commentary
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In some nearby parallel dimension, the letter "f" is option in today's title. We'll have to remember this little trick the next time bonds bounce so we can refer to it as a "bull shift," but I digress. The thesis is that there's serious '... (read more) |
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Housing News
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Some housing market analysts have found recent trends in construction, home sales, and diminishing affordability disquieting and perhaps early warning signs of another housing-led recession . They may find loan performance metrics reassuring. CoreLog... (read more) |
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Rob Chrisman
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In HELOC news, “traditional” lenders know that online lender Prosper plans to offer home equity lines of credit this year. The threats to real estate agents’ business models also just keep coming. Besides Clever, Ribbon Home, Zillow... (read more) |
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MBS Commentary
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Bonds had a chance to make the big potential correction of early 2019 a 1-day affair. That would refer, of course, to last Friday's bond market weakness that followed an exceptionally strong jobs report and a market-friendly speech from Fed-C... (read more) |
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MBS Commentary
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For several weeks heading into the December Fed announcement, we discussed the impressive Nov/Dec bond market rally and the fact that the Fed would likely have the last say about market momentum until the jobs report at the beginning of January. ... (read more) |
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consumerfinancemonitor.com
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