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The only loan performance metric reported by Black Knight Financial Service's December and thus year-end "first look" that rose in 2016 was the prepayment rate . That stat, despite the rapid increase in interest rates over the previous two months, was still 19.08 percent higher than a year earlier although it fell 5.50 percent compared to November. The prepayment rate at the end of the reporting period was 1.36 percent. The remainder of Black Knight's reporting were all on measures of housing market distress and those shrunk gratifyingly over the course of the year. The foreclosure inventory rate was down by 30.53 percent compared to the previous December, an improvement Black Knight calls the most in any year on record. The number of loans in active foreclosure declined by more than 206,000
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Rob Chrisman
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Our thoughts and prayers go out to the families of those that lost their lives in storms in the South and East. On the other coast, Los Angeles has received more rain over the weekend than in all of 2013! And while we’re talking about extremes,... (read more) |
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Housing News
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The only loan performance metric reported by Black Knight Financial Service's December and thus year-end "first look" that rose in 2016 was the prepayment rate . That stat, despite the rapid increase in interest rates over the previous two months, wa... (read more) |
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Housing News
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As was being widely rumored yesterday, the newly installed Trump Administration has indefinitely suspended a scheduled reduction in the annual premium for Federal Housing Administration (FHA) insurance. A 25-basis point reduction in that premium was ... (read more) |
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MBS Commentary
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Beginning on the business week before an FOMC Announcement, Fed speakers are "highly discouraged" (forbidden, basically) from making public speeches or comments regarding monetary policy. This is referred to as the Fed's blackout period and i... (read more) |
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Mortgage Rate Watch
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Mortgage rates rose slightly today, on average, but performances varied by lender and depending on the time of day. Rates were higher across the board this morning as global bond markets added to yesterday's weakness (weaker bond markets = higher rat... (read more) |
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MBS Commentary
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To be fair to today's presidential inauguration, it was never destined to be an exceptionally big market mover. Traders nonetheless had to prepare to move in either direction in the event Trump's speech contained something revelatory. ... (read more) |
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