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Mortgage rates were unchanged for many lenders today which is utterly and completely shocking given the other market developments that tend to coincide with rates moving lower. Specifically, stocks tanked and 10yr Treasury yields plummeted to the lowest levels since September 2016. For anyone under the impression that 10yr yields dictate the direction of mortgage rates without exception, it's high time to reassess that worldview. The bottom line is that rates are doing an absolutely terrible job of keeping pace with the rally in the broader bond market. The " Temporary Note on Mortgage Rate Inconsistency " below will be informative in that regard. With that in mind, many lenders were unchanged today for slightly less complicated reasons. Sure, underlying mortgage bonds didn't improve as quickly
Mortgage Rate Watch
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Mortgage rates were unchanged for many lenders today which is utterly and completely shocking given the other market developments that tend to coincide with rates moving lower. Specifically, stocks tanked and 10yr Treasury yields plummeted to the low... (read more)
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MBS Commentary
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In the day just passed, bond markets primarily reacted to overseas economic data with many of the reports in Europe coming in flat to weaker. Combined with the weakest Chinese manufacturing data in years, it was enough to push bonds through rec... (read more)
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Housing News
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The long-waited Federal Housing Administration (FHA) rule regulating condominium lending was finalized Wednesday afternoon. The Department of Housing and Urban Development (HUD), the parent agency of FHA, published the final regulation and the policy... (read more)
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Rob Chrisman
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Plenty of economists watch builder activity and mood swings as early indicators of future economic health. Builder confidence in the single-family 55+ housing market continued in positive territory in the second quarter of 2018, according to the HMI ... (read more)
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Housing News
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The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage application volume, rose 21.7 percent on a seasonally adjusted basis during the week ended August 9. MBA attributed the substantial decline in interest rate... (read more)
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Housing News
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Both the Mortgage Bankers Association (MBA) and CoreLogic issued data on recent loan performance on Tuesday. For CoreLogic the Monthly Loan Performance Report covered May, MBA's National Delinquency Survey is for the second quarter of this year. MBA ... (read more)
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consumerfinancemonitor.com
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