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Home price growth continued to slow on an annual basis in March. The CoreLogic Home Price Index (HPI) shows home prices increased from the previous March by 3.7 percent. The annual growth rates in January and February were 4.4 percent and 4.0 percent respectively. On a month-over-month basis prices grew by 1.0 percent, the same as in January. Prices had spiked by 0.4 percent in February. The company's deputy chief economist Ralph McLaughlin said, "The U.S. housing market continues to cool, primarily due to some of our priciest markets moving into frigid waters. But the broader market looks more temperate as supply and demand come into balance. With mortgage rates flat and inventory picking up, we expect more buyers to take advantage of easing housing market headwinds ." Price increases continued
Housing News
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Home price growth continued to slow on an annual basis in March. The CoreLogic Home Price Index (HPI) shows home prices increased from the previous March by 3.7 percent. The annual growth rates in January and February were 4.4 percent and 4.0 percent... (read more)
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Rob Chrisman
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If you want to have more of your financial future tied to lending, PennyMac Mortgage Investment Trust (PMT) announced the pricing of an underwritten public offering of 8,000,000 common shares . The Company intends to use the net proceeds from the off... (read more)
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Mortgage Rate Watch
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Mortgage rates dropped noticeably this morning as financial markets opened sharply changed from Friday's latest levels thanks to Trump trade tweets over the weekend. The stock market dropped to its lowest levels in several weeks before bouncing back ... (read more)
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MBS Commentary
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In the day just past, a weekend Trump tweet announcing increased tariffs on China sent bond yields and stock prices much lower. Both bounced back throughout the the day, but stocks bounced much more than bonds. Right at the close, more tr... (read more)
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Housing News
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Prepayment rates historically tend to increase in the spring, but this year they have been exceptionally high. The rate has risen during March in 18 of the past 19 years with an average gain of 21 percent. In its March Mortgage Monitor Black Knight s... (read more)
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Housing News
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Ginnie Mae has issued a formal request for input regarding changes to its II Multi-Issuer Program (GII MIP). That program represents almost a third of the mortgage-backed securities (MBS) issued by the agency. The program uses an aggregation of loans... (read more)
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