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Mortgage rates were mostly flat to begin the new week, even though underlying bond markets were in stronger territory. Bonds, more than anything else, dictate the day-to-day direction for mortgage rates. That said, there are different varieties of bonds as well as different levels of willingness to react on the part of mortgage lenders. In today's case, the bonds that specifically govern mortgages aren't doing quite as well as the broader bond market. As of this morning, lenders weren't seeing enough improvement to make any meaningful changes to their rate offerings. Mortgage-backed bonds have improved somewhat throughout the day. At face value, that seems like it should help mortgage rates and indeed it might. The issue is that there hasn't been quite enough improvement for the average lender
Mortgage Rate Watch
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Mortgage rates were mostly flat to begin the new week, even though underlying bond markets were in stronger territory. Bonds, more than anything else, dictate the day-to-day direction for mortgage rates. That said, there are different varieties of bo... (read more)
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Rob Chrisman
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You don’t think your spouse listens to you? What about Google? You bet: “Google Very Angry After Contractor Leaks Over a Thousand Assistant Recordings.” Interesting that many of the “best and brightest” of people in thei... (read more)
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Housing News
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The U.S. Census Bureau recently released a treasure trove of data, its 2018 report on Characteristics of New Housing. The report, based on data collected by the Bureau's Survey of Construction, covers a huge array of stats about new single-family hou... (read more)
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Housing News
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Applications for financing new home purchases slipped in June in spite of the continued easing of mortgage interest rates. The Mortgage Bankers Association (MBA) said its Builder Application Survey (BAS) shows mortgage applications for new home purch... (read more)
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Housing News
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The Government National Mortgage Association (Ginnie Mae) is the agency, housed under the Department of Housing and Urban Development, that converts government guaranteed mortgages into mortgage-backed securities for investors to purchase. Their orig... (read more)
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MBS Commentary
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Today was one of those unofficial 3-day weekend type of Mondays with light volume, light trader participation, and "drifty" trading momentum. A market holiday in Tokyo (Asian market hours' requisite hub for cash Treasury trading) didn't help st... (read more)
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