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Mortgage rates added to last week's improvement with another modest drop today. That brings the average lender to the best levels in exactly 2 weeks--a welcome change after hitting the highest levels in more than 3 months on Friday November 8th. US/China trade relations have been a key source of volatility , but markets are also eager to see how economic data unfolds as 2019 draws to a close. The combination of a phase 1 US/China trade deal and reasonably resilient economic data could push rates much higher and confirm a rising rate trend for the next several months. Conversely, if the trade deal looks shaky and if economic data deteriorates, rates could take another run at the long-term lows seen in early September. This isn't a narrative that will play out today, tomorrow, or even any time
Mortgage Rate Watch
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Mortgage rates added to last week's improvement with another modest drop today. That brings the average lender to the best levels in exactly 2 weeks--a welcome change after hitting the highest levels in more than 3 months on Friday November 8th. US/C... (read more)
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Housing News
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Home builder confidence fell back slightly this month, declining by 1 point to 70 in the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The dip partially reversed the index's 3-point jump in October which had car... (read more)
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Housing News
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The Consumer Financial Protection Bureau (CFPB) has issued an Interpretive Rule for one type of loan originator licensing. The Secure and Fair Enforcement for Mortgage Licensing Act (SAFE ACT) of 2008 established a national system for licensing and r... (read more)
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Housing News
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FHA loans posted a substantial decline in delinquencies during the third quarter, leading an overall improvement in loan performance. The Mortgage Bankers Association said its National Delinquency Survey found the non-current rate for mortgage loans ... (read more)
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Rob Chrisman
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Do you dread “Smonday?” (That’s when Sunday stops feeling like a Sunday, and the anxiety of Monday kicks in.) Here is something to dread. All this talk about MLOs losing their jobs to automation, or real estate agents losing their j... (read more)
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MBS Commentary
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As 2019 winds down, investors have never been so broadly certain about the overall market thesis. Unfortunately, that thesis calls for unavoidable uncertainty and the inability to clear it up very quickly. Reason being: we need to s... (read more)
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