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Mortgage rates were sideways to slightly lower today, depending on the lender. That presents something of an opportunity because underlying bond markets have been suggesting a move in the other direction over the past few days. In other words, the bonds that underlie mortgage rates have weakened, but rates themselves are stable or stronger. Much of this paradox has to do with the time of day that lenders generate their rate sheets. For example, if rate sheets were updated in real time, we might be seeing slightly higher rights this afternoon. With all of the above in mind, today's relatively lower rates are compelling for those who are in a position to lock. If nothing changes about underlying markets by tomorrow morning, most lenders will likely be slightly worse off. Of course, "worse" is
Mortgage Rate Watch
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Mortgage rates were sideways to slightly lower today, depending on the lender. That presents something of an opportunity because underlying bond markets have been suggesting a move in the other direction over the past few days. In other words, the bo... (read more)
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MBS Commentary
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On a few occasions during the past few weeks, I've brought MBS underperformance to your attention. Specifically, MBS and mortgage rates hadn't been improving as robustly as Treasuries since yields topped out back in mid-February (or again on ... (read more)
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MBS Commentary
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Although preliminary news was out yesterday about China potentially announcing retaliatory tariffs on the US, that announcement was officially made overnight. Actually, it was a borderline-comical catalog of announcements that ended incl... (read more)
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Housing News
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The strong showing for both refinancing and purchase applications during the week ended March 23 didn't last, with both reversing course last week. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage loan applicati... (read more)
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Rob Chrisman
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As residential origination volumes and margins contract, plenty of lenders are looking at construction, non-QM, bond, government, ARM, SBA, and USDA lending opportunities. Who are Acore Capital, Apollo Commercial Real Estate, Blackstone Mortgage, KKR... (read more)
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MBS Commentary
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Granted, it's an on-again, off-again relationship between stock prices and rates, but it's been "on" for the past few days. Today was no exception. Stocks were close enough to their recent, relative abyss that any further weakness would... (read more)
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consumerfinancemonitor.com
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